Assignment On Marketing Of A New product PDF

Preview

Summary

Submitted by Assignment PointAn Assignment On Marketing Of A NewProduct DevelopmentTable of Contents Executive Summary Tiltles Page No Current Marketing Situation 5 - Threats and Opportunities 6 - Objectives and issues 9 - Marketing Strategy 13 - Action Programs 19 - Budgets and Controls 21 - Refere...

Description

An Assignment On Marketing Of A New Product Development

Submitted by Assignment Point

2

Table of Contents

Tiltles

Pa Pagge No

1) 2) 3) 4) 5) 6) 7) 8)

4 5-6 6-9 99-13 13 13-19 19 19-21 -21 21 21--23 24

Executive Summary Current Marketing Situation Threats and Opportunitie Opportunitiess Objectives and iss issue ue uess Marketing Strategy Action Programs Budget Budgetss aand nd Controls References

www.assignmentpoint.com

3

Executive Summary on Apogee Apogee is a shoe which is completely made from old, unused soccer balls. After using a soccer ball for quite sometimes it becomes unworthy to use. So people throw out the old soccer ball to buy a new one. But what they don’t realize is how harmful this plastic material can be for our environment. To remove this problem and also to make brand new merchandise we are going to produce trendy shoes from these unused soccer balls. These shoes can be worn by the people of all ages. These are also going to be stylish so fashion concerned people can feel attractive in them.

Next comes the huge issue of environment safety. There are many products in the market which are very useful but there deathly for our environment. But this shoe is completely made from recycling old soccer balls. So it does no harm to our environment. In fact it works to protect the environment.

The third issue is price. People want to wear new and fashionable shoes. But most of them can’t afford such expensive products. As apogee is made from old soccer balls it is really cheap to produce. So we can offer people new and trendy shoes at a minimum price.

Reviewing all the features of apogee we can assertively say that this product is going to be popular, environment friendly and last but not the least inexpensive.

www.assignmentpoint.com

4

Current marketing situation We are planning to produce shoes from recycled soccer balls. In the current market people of all classes need shoes. They want more trendy & sturdier shoes. Furthermore people are now more conscious about the environment they live in. So we choose this idea of making shoes from recycled soccer balls keeping in mind the environment as well as the customers both at international and domestic level. Our customer customers: s: In today's modern world there is a craze about sports, particularly about football.Soccer mania is here and everyone seems to be riding high on the popularity wave. Everyone watches football now a days, so what if they could use a product that not only served their purpose but also indicate their love for the game and that’s how we came up with the idea of making shoes from recycled soccer balls. Football is popular around the globe , specially in Europe and south america. As we are planning for a global launch of our product we will concentrate particularly on these region. The youths of Bangladesh are quite interested about sports and of course football, so we are developing our product keeping in mind their taste and preferences. We are hoping we can go global with our product after we are successful in making it a success in our domestic market. Marke Markett segmentation: We are planning to divide our market on the differences of our customers trend,style and fashion. We will develop these shoes for both boys and girls. For Boys and girls who are aged from 10 to 15, we will asses their current demand for new shoes and also we will customize them according to their needs. We will use the same strategy for customers aged 16 and above. Thinking internationally, we may think about the international preferences of our global customers. We will also give our customers the alternative to customize their product according to their need and taste. Size of the market market:: There are millions of teenagers roaming around the streets of Bangladesh looking for the ultimate sport shoe that will serve their purpose. But at the same time they don’t have the budget to satisfy their need as high quality shoes costs a lot. Our goal is to target this market and supply them with one of the best if not the best shoes that will be in style as well as give them the extra performance boost they need to take their game to the next level. We need to comprehend the size of our target market and need to capitalize by providing the best answer to their problems where others will fail.

www.assignmentpoint.com

5

Curren Currentt market ccom om ompetitors petitors petitors:: currently adidas and nike are dominating the sports accessories business by providing state of the art merchandises specially sports shoes. But what we want to do is we want to create an positive image of our product by creating the ultimate soccer shoes that is available and most importantly affordable for the customers. Furthermore we are using recycling material to make this product that will also create a positive image. As they say “ first impression is the last impression” and that’s exactly what we are planning to do. We wan to make a global impact.

Opportunity We cannot sustain our consumerist lifestyle without getting inundated by garbage and exhausting the earth’s resources. Solid waste disposal experts engage in an uphill struggle to contain this virtual avalanche of garbage we produce every day. It is apparent that digging a hole, a landfill, is clearly not the answer. Sooner or later, the waste becomes uncontainable and will spill into our farming areas, forests, and water sources. Here we have shown some opportunities of producing shoes from recycling football soccerGood raw material: As football is an international game and it is produced for international purpose, we are getting almost best quality of product. If we recycle the soccer and if we produce shoes from this waste material, ultimately we are getting good quality material for producing shoes. Less expensive: Many of we have the tendency to buy pure leather shoes. Sometimes we desire to buy but we step back when there is a question of money. If we use the useless soccer we will be able to reduce the cost of soccer and so ultimately we will reduce the purchasing price also. Save animals life: As we are using football soccer as our raw material which people consider as wastage, we are helping our environment to keep sound. When we are using animal leather, animal lives are in danger. So if we use the soccer we will be able to protect the life and it will be environment friendly. www.assignmentpoint.com

6

Proper utilization of resources: We are using the proper use of resources which is also good for environment. Environment friendly: Football is made with plastic, synthetic paper, leather and rubber. We know plastic, synthetic paper, plastic are discomposed material. When we get the utility, we throughout the ball in the dustbin that may causes problem to the environment. It may stick in the drain and can create problem in drainage system. So if we use the ball in producing shoes it will be a good idea to keep our environment safe and sound.

Threats: All it takes is for the public to question the harmlessness of a waste associated with the material for recycling and the public authorities may be willing to make sweeping changes in the organization of the collection and processing of the relevant materials and wastes, with the consequent degradation of the modes of procurement and www.assignmentpoint.com

7

access to the recycler's scrap resources. If the recycler cannot act effectively and preventively to reduce the risks associated with such wastes, this will increase his external economic contestability. There are some threats of recyclingShape of materials: It is easier to cut a portion of leather or plastic from a large smooth piece of leather. But here we are using wastage of football soccer as our raw material, so there we may face a problem.

Scarcity of resources and market growth of business: As we are only using football soccer we have to ensure that we are going enough material or not. We may face scarcity of resources. We have to depend for the football user. If we fail to serve the customer and if we fail to serve the customer ultimately we will fail to hold our position. It will send us to dog position. More expensive: When we are thinking for a new product we need human resource, machine and technological experience. Then human resource needs training which requires a huge amount of money. That may seem costly.

Child labor: Pakistan is the largest manufacturer of footballs on the planet. About 80% of association footballs are made in Pakistan. 75% of these (60% of all world production) are made in the city of Sialkot. Child labor was commonly used in the production of the balls before the 21st century. Not only Pakistan but also Bangladesh is using child labor which is strictly prohibited. The problem was largely due to highly skilled but uneducated class of labor force who would prefer to have their children learn the craft as opposed to going to school.

www.assignmentpoint.com

8

If fails: Last of all if this business fail to fix itself in a satisfactory position , investor may face a huge loss which may affect the economy also.

Obje Object ct ctive ive ivess and Issues o off A POGEE:

Marketing plans are written documents that help us communicate our marketing efforts for the following year. One of the most important parts of the marketing plan is the objectives and issues section, which helps internal employees or external stakeholders understand the marketing goals.

1. To save our Environmen Environmentt

Our main objective is to save our environment through recycling. We will prepare shoes by recycling footballs.

The environment is something we are very familiar with. It's everything that makes up our surroundings and affects our ability to live on the earth —the air we breathe, the water that covers most of the earth's surface, the plants and animals around us, and much more.

www.assignmentpoint.com

9

In recent years, scientists have been carefully examining the ways that people affect the environment. They have found that we are causing air pollution, deforestation, acid rain, and other problems that are dangerous both to the earth and to ourselves. With the help of recycling we can protect our environment to some extent.

Re Recycling cycling is a process using materials (waste) into new products to prevent waste of potentially useful materials, reduce the consumption of fresh raw materials, reduce energy usage, reduce air pollution (from incineration) and water pollution (from land filling) by reducing the need for "conventional" waste disposal, and lower greenhouse gas emissions as compared to plastic production.

When a football gets old and rusty, it has no use. We often throw it into the dustbin or somewhere else. It is polluting our air and land.

With the help of recycling we can convert these footballs into shoes. We hope it will reduce air and land pollution and thus we can protect our environment.

2. Sell quality shoes w ith low p price: rice:

Another objective is to sell quality shoes with low price. People now are very concern about quality and price. They want high quality product with low price. So we will sell high quality products with low price.

www.assignmentpoint.com

10

3. I ncrease market share share:

Another objective is to increase our market share. With the help of marketing strategy we can increase our market share. In this case we have to invest a lot of money in promotion and distribution of the product. We are expecting to increase our market share up to 10% in the next year.

4. To be the number one in the existing market:

One of the most important objective is to be the number one in the existing market. For these reason we have to implement our market strategies properly which have been discussed later.

Issues that can affect our objectives:

www.assignmentpoint.com

11

1. Environmenta Environmentall issue issue: Environment means everything that makes up our surroundings and affects our ability to live on the earth. Today environmental issue is very important. There are many organizations who are working to protect the environment. They are creating pressure on the companies.

So we will sell environment friendly product. We will not use any synthetic leather or any other chemicals that may cause harm to our environment. APOGEE shoes are environment friendly product or we can say that APOGEE is a green product.

2. He Health alth issue issue: Today people are very health conscious. They want to know everything about the product. If they feel that the product they are using are not safe, they will not use the product.

APOGEE shoes are really safe because it is a green product. We will not use any chemical product in producing the shoes.

3. S ocial issue issue: We have to work in our society. So we have some social responsibilities. We have to think about our society and produce products according to their needs and wants. We should keep a friendly relationship with the people of our community.

www.assignmentpoint.com

12

4. Ch Child ild labor issue issue: Another important issue is child labor issue. According to the labor act policy in 2006 child labor has been banned from all the industries. Showing respect to the law we will not use any child as our labor.

5. H igh quality with low price issue issue: People now are very concern about quality and price. They want high quality product with low price. So we will sell high quality products with low price. We will also give some discount to our customers.

Marketin Marketingg Apogee

Strategy

Of

:

Introducing a new product to the market can be a challenging task for a business. No matter how much confidence you have in the value of the product or how unique it is, there are still things to consider before unleashing it on the public. The marketing concept of building an organization around the profitable satisfaction of customer needs has helped firms to achieve success in high-growth, moderately competitive markets. However, to be successful in markets in which economic growth has leveled and in which there exist many competitors who follow the marketing concept, a well-developed marketing strategy is required. Such a strategy considers a portfolio of products and takes into account the anticipated moves of competitors in the mark.

Customer Dr Driven iven M Marketing arketing Strategies for Apogee : Making strategy decisions need to be customer driven as your end customers are the ones who will be making purchase to o ur products and services. The topic of Customer Driven Marketing is how to divide up the identified market into meaningful customer groups, choose which customer groups to serve, create market

www.assignmentpoint.com

13

offerings that best serve targeted customers and position the offerings in the minds of customers – referred to market segmentation, targeting, differentiation and positioning. The reason for having customer driven marketing strategies is companies today cannot appeal to all buyers in the marketplace. Buyers’ behaviors are difficult to predict, too widely scattered and too varied in their needs and buying practices. Companies must design customer driven marketing strategies that build the right relationships with the right customers.

Why C Cu us tomer Driven Marketing for Apogee : In a nutshell, with proper application of a customer driven marketing strategy, the we can focus our efforts on meeting distinct needs of individual market segment & to target segments in which it can profitably generate and sustain customer value. It can then communicate & deliver the chosen position with its resources available for an effective strategic marketing plan. With a customer driven marketing approach, the company has clearer direction to maintain its desired marketing position on targeted market segment(s) through consistent performance & communications. Nonetheless, for larger companies such as Unilever and P&G, they can offer complete range of products to serve all market segments to meet customers’ needs.

www.assignmentpoint.com

14

We must divide up the total market ,choose the best segments and design strategies for profitably serving chosen segments. This process involves market segmentation ,market targeting , differentiation and positioning .

Marke Markett Segmentation : As we are making shoes from recycled soccer balls and its for everyone ( Boys,girls,Childrens) we can divide our markets into 2 types – 1. Customers Aged 10-15. 2. Customers Aged 16 and above.

We will also give our customers an option to customize shoes according to their needs. We will focus on both national and international markets of our product.

www.assignmentpoint.com

15

Marke Markett Targe Targeting ting : Footwear sales have been falling in developed countries and slowing in emerging countries due to lower income levels; and therefore, less spending on apparel and footwear. Consumers are focusing increasingly on value for money, looking for simple, hard-wearing shoes that last . As children and young people are passionate about stylish shoes we are focusing them as our target market .

Positioning : We will make our shoes more attractive than our market competitors . We will sell our shoes at a reasonable price . We will give them longer lasting shoes and will guarantee them for a certain period. We will use our distinctive shoe logo or Brand name so that we can hold our market for a long time . At the beginning we will give advertisements to acknowledge them about our products .We will give discounts for our special customers .

www.assignmentpoint.com

16

Our shoe logo

Differentiat Differentiatio io ion n : We will serve our customer a different service compared better than our competitors on the following basis : I. We will make our Shoes attractive. II. We will sell our shoes at reasonable price. III. We will give discount to our customers . IV. Will give them guarantee for our products . V. Will take orders from customers to make customized shoes .

Marke Marketin tin tingg Mix : This section outlines how we will make strategies for each marketing mix element of our Apogee shoes and how each responds to the threats , opportunities and critical issues .

Product : In order to outdo our competitors we will take specific strategies for our product .The strategies will be – www.assignmentpoint.com

17

1. We will make a variety of products on some specific categories such as for boys shoes ,Sandals , Sport shoes for girls we will make clogs ,lace ups, heel shoes etc. 2. We will always promise them 100% best quality for our product . 3. We will follow Fendi ,DIESEL ,Armani , Burberry ,Moschino designs to make our shoes . 4. We will use clear shoe box, ,paper shoe boxes in packaging our shoes . 5. We will make it eco -friendly.

paper shoe boxes shoe box

plastic shoe box

clear

-

Price : We will always try to give customers good quality shoes at a reasonable price .For this we need to take some sort of incentives , they are – 1. We will give price tag on each of our shoes. 2. We will give 5% discount on our shoes at the starting of our business in order to get consumer attention on our shoes.

Place : 1. We will open our branches in home and abroad.

www.assignmentpoi...