Design a product that will be successful in today's market
$30-5000 USD
Płatność przy odbiorze
A Retail Marketing Project that requires 2500-2800 words with cross referencing stated clearly and require proper plagiarism check.
Topic:-
Part 1: Design a product that you believe will be successful in today's market, and will address consumer needs accurately and effectively. (Give it a Brand name and Logo)
- Explain the reason for your choice of product
- Provide a detailed description of the features of your product
Part 2: You have decided to market your product to the target market that you have identified. Construct a detailed retail marketing plan that will help you achieve this objective.
## Deliverables
A Retail Marketing Project that requires 2500-2800 words with cross referencing stated clearly with reference to Harvard Referencing Guide and require proper plagiarism check.
This project of 2500-2800 words requires:-
1) A one page Executive Summary
(To be written in a way whereby investors will read before they decide if they are interested in the company and proceed to look at the whole plan.)
2) Key Factors to Success
- deals with strenghts of your company
- should always stress every possible strenght of your company
they should always display company's stongest attributes.
3)Mission Statement
- Long term goal of this business
4) Marketing Objectives
i.e: to change structure of the clientele and nature of the firm;
to get new clients or to strengthen relationships with existing clients;
to sell new services to existing clients as well as to new clients;
to broaden a geographic base
to change perception of a firm by its market
Key elements to consider in setting marketing objectives:
a. Publics: the target audience must be clearly defined;
[url removed, login to view] Perception: How do you want to be percieved by your clientele?
[url removed, login to view] Frame: A practical and realistic time frame in which specific goals is essential to establish marketing objectives.
[url removed, login to view] Share
[url removed, login to view] Budget
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5) Financial objectives
a. Sales - by volume/growth
b. Profitability/Margins
c. Financial Ratios
6) Product Offering
- A detailed description of the various product offerings
Product Attributes: Describe the range of products, main product features, major benefits recieved by those using the product etc.
- Mention about the extendend marketing mix i.e 7Ps
Pricing: using all distribution levels such as pricing to final users and to distributors, incentives offered, discounts, payment modes and terms etc.
Place (Distribution): Describe how the product is made accessible to final users including channels used, major benefits recieved by distributors, how product is shipped, process for handling orders etc.
Promotion: Describe promotional programs and strategies in terms of advertising, sales promotion, personal selling, and public relations. How product is currently positioned in market etc.
Services Offered: Describe support services provided to final users and distributors before, during and after the sale.
7) Situation Analysis
Base on 3 major elements:
a) Customers
b) Costs
c) Competition
eg: current products, current target market, current competitors, external forces
8) Market Summary
- Study and analyze the target market
-Market demographics (Geographic, demographic, buyer behaviour)
-Market needs
9) Satisfaction of Target Market
-How is the business able to satisfy the needs of its target market?
i.e: Product Range;
Accessibility (Location; Opening Hours);
Customer Service (Level of customer service expected);
Competitive pricing (Pricing suitable for target market and business?)
10) Market Trends
- The current trend in this market
- Current events and issues relating to this industry
- Market Growth
11) SWOT Analysis
Strenghts, Weaknesses, Opportunities and Threats analysis of the business and its industry
PESTLE Analysis
Political, Economic, Sociological, Technological, Legal. Environmental
12) Marketing Strategy
-How does the business aim to market its offerings?
-Retail Marketing mix
-Promotional mix
13) Positioning
- How does the business position itself in the market among its competitors?
14) Marketing Expense Budget
15) Implementation
- Milestones/timeline of implementation of the plan
16) Controls
- Areas to be monitored to gague performance
17) Contingency Planning
- Risks
- Difficulties faced
- Problems foreseen
- Backup plans
18) Conclusion
- Explain the reason for your choice of product
Give at least 10 reasons stating the choice.
- Provide a detailed description of the features of your product
## Platform
N/A
Numer ID Projektu: #3553185