Consumer Tangible Products |Get Solution

Your own product has to be a consumer tangible product (NOT a service, a business, an idea, or a business product). Organic food, organic cosmetics, organic garment ARE what is acceptable.  I. SITUATION ANALYSIS (Big Overview of the Company)  a. Executive Summary and Organization Mission; what is your company’s mission? It is critical for you to emphasize why your venture will be successful. What is your niche? Why should a venture capitalist invest in your idea? Name a secondary resource fact about your industry that will have the “WOW” effect. (4 points) b. Environmental Scanning (10 points – 2 points each) Social/Cultural trends, Political/Legal: laws regarding organic products (USDA requirements) Technology US economic situation [GDP, GDP per capita, unemployment rate…]. Natural environment that may affect the company c. Within the industry, what have been the overall trends in sales for organic products similar to yours? – In % – Research the Internet (2 points)  d. Within the industry, what have been the overall trends in market share for organic products similar to yours? In % – Research the Internet (2 points)  e. Market Opportunity Analysis (trends) (4 points). What are the opportunities/prospects for your own products? (After considering the social/cultural trends, the trends in sales and market share)  III.Marketing Strategy: a. Target Market Description of the  a. Targeted market (5 points) Indicate bases for segmentation (How did you segment your market? Demographic. Geographic, benefit,… It can be a combination of more than one base) (5 points)  b. Analysis of Buyer Behavior  Types of consumer buying decisions, (2.5 points)  cultural influences, (2.5 points) 3  social influences, (2.5 points) and  life-style analysis) (2.5 points) IV.The 4 Ps = MARKETING TACTICS (Actual steps undertaken by marketers)  a. Product (10 points)  Description of your product – Ingredients – Quality –  Total product concept – including  Packaging, with logo (Fair Trade, or Beauty Without bunnies if you market cosmetics)  Classification (Convenience, shopping, or specialty product)  Brand name,  Warranty: (express or implied?) Positioning (Make sure you know the definition of positioning) Positioning has nothing to do with placing products on the shelves.  What features and benefits of the product are unique?  b. Pricing Strategy/Method (10 points) Select a pricing strategy/method for your new product (check chapters 20/21)  c. Place (Channel of Distribution) – (10 points) Strategies: direct or indirect distribution?  IF indirect distribution, will it be Intensive, selective, or exclusive, and why?  d. Promotion/IMC (10 points). Which type of promotion will you use and why?  Advertising, (TV channels, magazines, billboards)  Or/and Sales Promotion,  Or/and PR (sponsoring events), and Publicity) (Indicate Specific Media Placement (TV channels, magazines, of your main competitors)  e. Response of the Target Market (Indicate how this will be assessed or Accomplished it – How will you check if your customers buy your product?) (3 points) V. Competitive and Industrial Analysis: You need to know your competitors, their products and anticipate their next moves.  a. Direct Competition and its strengths and weaknesses (organizations selling similar organic products) (5 points)  b. Indirect Competition and its strengths and weaknesses (organizations selling similar NON organic products) (5 points YOU DO NOT HAVE TO DO THE EXTRA CREDIT PORTION THAT IS LISTED IN THE ATTACHED DOCUMENT