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Ring DoorbellStudent’s NameInstitutional Affiliation ContentsIntroduction. 3Definitions. 3The Advent of Technology. 5Mexico’s Potential 5Social Media Strategy. 6Ethical Considerations. 7Conclusion/ Summary. 7Memo of Transmittal 8References. 9Ring DoorbellIntroductionSecurity is one of the primary human needs. This creates a wide market gap due to the high demand for efficient security systems. This is the rationale behind the acquisition of Ring Inc., a security company by Amazon. The firm deals in the production of security gadgets such as CCTV cameras, motion detectors, and biometric recognition systems to mention a few (Ring, 2020). Ring Doorbell is one of the first commodities to be introduced to the market by the company. The system runs on a smartphone application called Neighbor. The surveillance videos captured can be viewed by the user on the App. More so, the company keeps a record of the captured data and can be submitted to authorities as evidence if needed. This product meets the need of having a home security to solve the security problem of rampant insecurity cases (Rani, 2014). The neighborhoods are empowered as a network in partnership with the law enforcement agencies.DefinitionsThe Ring Doorbell is the firm’s pioneer product. It comes with a motion sensor, HD camera, a speaker and microphone that offer a two-way audio communication interface. The user interface incorporates a mobile application that helps users get real time coverages from the camera. Additionally, a door bell ring comes inform of notification. Consequently, the home owner can communicate with the visitors using the microphone and speaker. The application also operates the surveillance camera. It can trigger records automatically if rung or in case the motion sensors are activated. The product has been improved over time to make it more effective in improving security. Last year, a peephole camera was introduced in the market. The product at hand also has a service edge to it as the company offers the clients a platform for keeping a record of the footages covered. The payment plans offer the market a basket of offers to choose from. This helps capture a large market segment depending on the factor consumers’ purchasing power. A shopping offering is evident as the consumers tend to put in efforts to make a comparison between the available brands. The market segment is primarily seeking the best product for the price taken (Deshmukh, 2012). This leaves them choosing the best offer as they hold that there are variations between the differentiated security commodities in the market. The target market visits multiple physical and online retail stores and consider reviews before making the purchase decision. This paper covers how the product can be introduced in the Mexican market. The Ring Doorbell falls under the category shopping offering. For this case, the consumers are concerned about brand names when choosing products. In the event that a certain store has run out of the brand, consumer loyalty will prevent them from choosing another. Experts in smart security solutions give advice on the best systems available. Mexico poses as a great target market for the products as there is a high population with the purchasing power. Moreover, there is an increasing demand in effective security solutions to prevent theft and break ins. The demand is strong on market players such as private enterprises, government agencies and consumer purchases. For this essay, security refers to the prevention and response to threats of criminal attacks. On the other hand, safety means tackling the risks associated with accidents, natural calamities and work related issues. This sector is inclusive of services, solutions, equipment, and programs intended for all forms of security such as residential and corporate needs. These needs include: access identification controls and security control (Ring, 2020). Other solutions and systems are specially tailored for use by defense and law enforcement agencies. The Advent of TechnologyNew technologies have been introduced in the Mexican market to meet the trends in consumer behavior and trends. This has in turn heightened the level of competition among the suppliers. Consequently, this has increased innovation and creativity leading to advanced solutions and buyer’s needs. The market for security solutions is a reflection of the nation’s conditions locally such as level of development, public security measures, and population occupation in the urban regions. Additionally, it shows the capacity of the local and state authorities. There are additional factors which increases the product’s capacity to sell in the market such as the evolution in rule of law through reforms in the law enforcement and criminal justice system. Mexico’s PotentialMexico is one of the fundamental security markets across Latin America as it is large, serves leading industries and has a high aggregate demand. It is also one of the most dynamic economic segments. From 2015 there has been witnessed an increase in sales for security system products on an average of 10%. The rate is higher than that of the whole economy which makes it a lucrative industry for investment. A successful venture requires proper planning from business implementation to marketing of the products. There are consumer factors that are relevant to the market segment. For instance, the stage in product life and cycle, economic aspects, and personality. For illustration, the younger generation might be more willing to purchase newly introduced gadgets with advanced technology while making recommendations to other potential consumers (Ring, 2020). The elderly part of the population can adopt security systems to boost safety. Additionally, the application system can be linked with caregivers and home attendants to provide for observations remotely.Economic instances like the consumers’ purchasing power and willingness to make a purchase also apply. For this case, the consumer can only make the purchase decision if the marginal disposable income at hand is sufficient to meet the basic needs while leaving a good amount for secondary wants. Nonetheless, the general individuality such as fame, income status, and self-image are factors which can influence a person to enhance the security system. Personality attributes determine people’s lifestyle. For illustration, those who travel a lot can choose to advance their security systems to ease security monitoring while away. It is rational to argue that consumer factors have a substantial effect on their behavior. Social Media StrategyThe products will be marketed in the nation by increasing consumer awareness. This calls for adopting the best methods of passing the promotional message to the target market. Ring Inc. will use social media and digital marketing approaches such as affiliated marketing and sponsored advertisements. The target market is dominated by internet users and those who turn to it seeking guidance on security systems. Thereby, online platforms serve as one of the best marketing tools for Ring Doorbell. Advertising on social media and hiring ad spaces on reputable Mexican websites and blogs will help reach out to a large size of the target market. Furthermore, television commercials will be used to pass the promotional message. A good blend in employing media advertisement and good customer care services will help cultivate a good brand name and reputation for the security system (Jones, 2014).The nature of the product requires having an excellent customer management system. In the sense that, the firm treats every customer appropriately regardless of their tier. The product’s image is reinforced by a good rapport with clients centered on the target of having a safer community. Thus, every scheme to manage consumers is based on improving security. This will be done by maintaining a close relationship with potential customers (Leitner, et al., 2014). In the long run, the security solution products will be a one of the most popular brands in the market.Ethical ConsiderationsRing Inc. will also put in place systems which promote the consumers’ privacy. There is a dire need to maintain ethics and confidentiality in offering security services and products. It is key to ensure that the data collected through footages is kept private and confidential as it can only be shared with law enforcement agencies for legal reasons (Foti & Devine, 2019). In the event of a breach in privacy agreement, the firm has a scheme which consumers can use to have suitable actions taken. Consistent improvement will come in handy in mitigating the threat of competition in the market. There are other firms dealing in similar products. The firm makes a significant investment in the innovation department to consistently come up with enhanced security solutions. The launch of new upgrades is communicated to the client base which increases loyalty as they can improve their security systems using the same brand. Conclusion/SummaryOverall, Mexico is a viable market for security systems products and services. The nation has a high urban population and a thriving industry. Nonetheless, the consumers are accommodative to foreign products which ease market penetration. Testimonials and referrals are effective in attracting a larger number of consumers. Therefore, Ring Inc. will seek consumer feedback and integrate it in product development while using it as marketing grounds. This makes it critical for the firm to maintain a good reputation by offering top-notch quality smart home security systems. Online marketing is efficient as the consumers can leave feedback on the comments sections and rate the products and services. Positive consumer response increases the market scope. The key task is to communicate how the product solves consumers’ needs well compared to other similar products. Consequently, the product will gain a good image and reputation over time. Memo of TransmittalTo: Security Companies in MexicoFrom: Ring door developerDate: 8/5/2020Subject: Introduction of the ring doorbellFollowing the rampant instances of security breaches, a new invention has been created, which is the ring doorbell.Companies are encouraged to subscribe to this service to get immediate notifications in case their premises are invaded.Thanks in advance as you endeavor to secure your businesses.ReferencesDeshmukh, D. K., (2012). Consumer buying behaviour for high involvement products -A Study, Asian J. Management 3(3). 153-157. https://www.researchgate.net/publication/296923891_Consumer_Buying_Behaviour_for_High_Involvement_Products_-A_StudyFoti, L. & Devine, A. (2019). High involvement and ethical consumption: a study of the environmentally certified home purchase decision. Sustainability, 11(5353).https://www.mdpi.com/2071-1050/11/19/5353/pdfJones, S. (2014). The Six Stages of the Consumer Buying Process and How to Market to Them.Sales & Marketing & Consumer Marketing.https://www.business2community.com/consumer-marketing/six-stages-consumer-buying-process-market-0811565Leitner, G., Felfernig, A., Ferrara, F., & Tasso, C. (2014).Decision Support in the Smart Home. 1-9 https://www.researchgate.net/publication/245031171_Decision_Support_in_the_Smart_HomeRani, P. (2014). Factors influencing consumer behavior: Institute of Law Kurukshetra, University Kurukshetra, India. Int.J.Curr.Res.Aca.Rev. 2(9). 52-61 http://www.ijcrar.com/vol-2-9/Pinki%20Rani.pdfRamya N. & Mohamed Ali.S.A. (2016, September).Factors affecting consumer buying behavior.International Journal of Applied Research2(10), 76-80. https://www.researchgate.net/publication/316429866_Factors_affecting_consumer_buying_behaviorRing. (2020). https://blog.ring.com/

AN2020050372Ringdoorbell3