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Libify Technologies GmbH (www.libify.de) develops positioning systems for end customers and users. The company's philosophy is "Technologies to libify your life", which means the latest technologies for support, relief and more securities for everyday life - both professionally and privately.The product GeoCare (www.geo-care.de) is a mobile emergency call and positioning system, with which corresponding help can be requested at the touch of a button and via an automatic emergency call. GeoCare has various functions, such as making emergency calls, a hands free set, a GPS function, text messaging that displays the current position, wireless transmitters and a zone management function.Libify promotes it for children, active and sports people, chronically ill people and elderly people. Actually the company targets the senior segment, especially people who are older than 50 years of age.
The objective of this cooperation project is to develop approaches on how to positively emotionalize the product GeoCare for a selected sub-target group. This overall objective can be detailed in several secondary goals that the students of the "Master in International Marketing" working in 4 teams have to fulfill.1. Product and service bundlings
2. Price ranges and price acceptance
3. Positioning and Sales channels
During the project kick-off at Libify's office in Munich, it was centered on getting to know the product, as well as the company and creativity workshops to identify the elderly sub-target groups that GEOCARE wants to concentrate on in this research.After the kick-off event the teams started with secondary research, analyzing the German market of elderly people based on the studies of different institutes. As the next step the primary research was conducted to identify the target group and to find out more about their expectations regarding services packages, price ranges and sales channels. Two waves of face-to-face interviews using questionnaires and the convenience sampling technique were conducted in different locations in Germany.The first round of survey took place in April 2014 at "Die 66", Germany's biggest trade fair for 50 plus in Munich. After analyzing the valid number of responses, the 4 teams combined their learnings and findings to design and improve questionnaires for the second round of survey, which took place from 1st until 5th of May.To minimize the bias and to have a more diverse sample, the second wave was done separately in different places by each team member. Seniors were interviewed at the countryside (football match, choir rehearsal, etc.) and in the cafes, bakeries, parks, shops, wellness clinic and the elderly computer club in Nuremberg, Stuttgart, Heidenheim, Worms and Wiesbaden.The collected data based on two waves of interviews were analyzed using SPSS and Excel.
Due to the data collection and data analyzing the teams identified the target groups of seniors and gave an overview of customer profiles. In their final presentations the teams presented their findings and learnings regarding service bundling, price acceptance, positioning, sales channels as well as communication concept. As the results, recommendations to Libify were given.
For further information please contact Prof. Dr. M. Bienert and Prof. Dr. G. Brambach
Stefan Savic, student of Master in International Marketing:"This project was a great experience, as we were given a chance to perform the whole marketing research process as well as to apply our theoretical knowledge from different classes in practice. Among many other learnings, we have learned how to use the collected data to develop research based recommendations and we have improved our visualizing skills."
"It was definitely not easy meeting both the requirements of a proper scientific research and the needs of a young energetic startup company at the same time. But being faced with this complex task allowed us to apply theoretical concepts and guidelines of product & market development, as well as market research to a real-life setting and was therefore an effective and valuable way of learning."
Bianca Eiglsperger:"While working on the GeoCare project, it was interesting to see how and to which extent a product introduction process touches all four P's of the marketing mix and how the different P's are connected and mutually dependent on each other. Additionally, working with a start-up company gave us the possibility to get to know the processes within a dynamic and versatile environment."
"The project with Libify was a highly challenging project in regard to several different market research and product & market development tasks. An additional key learning was to work for the first time very closely with a real start-up business and to experience all the related trials and challenges, which such a relatively new company has to face on the market."
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