Design a product that will be successful in today's market

Closed Posted Jul 6, 2010 Paid on delivery
Closed Paid on delivery

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

[url removed, login to view] on investment and revenue (Base on competitors' estimated figures)

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

Business Plans

Project ID: #3553185

About the project

Remote project Active Jul 28, 2010