Marketing Plan New Product Essay Example for Free

Marketing Plan New Product Essay Titles Page No 1) Executive Summary 4 2) Current Marketing Situation 5-6 3) Threats and Opportunities 6-9 4) Objectives and issues 9-13 5) Marketing Strategy 13-19 6) Action Programs 19-21 7) Budgets and Controls 21-23 8) References 24 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. 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 customers: In todays 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. Market segmentation: We are planning to divide our market on the differences of our customers trend,style and fa shion. 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. Current market competitors: 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 â€Å" 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 soccer Good 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. 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. Objectives and Issues of APOGEE: 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 Environment Our main objective is to save our environment through recycling. We will prepare shoes by recycling footballs. 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. Recycling 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 with low price: 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. 3. Increase market 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: 1. Environmental 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. 2. Health 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. Social 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. 4. Child labor 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. High quality with low price 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. Marketing Strategy Of Apogee : 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 Driven Marketing Strategies for Apogee : Making strategy decisions need to be customer driven as your end customers are the ones who will be making purchase to our 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 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 Customer 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 PG, they can offer complete range of products to serve all market segments to meet customers’ needs. 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 . Market 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. Market Targeting : 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 . Our shoe logo Differentiation : 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 . Marketing 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 – 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 plastic shoe box clear shoe box 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. 2. We will try to open our branches in U.S.A , Canada , South-Africa .So we will obviously try to make an influence on consumers to buy our product. 3. We will always try to sell the shoes that were produced first. 4. As shoes will be produced in Bangladesh we need to transport them across national boarder and in home .We prefer to transport shoes to abroad by air and in home by our private transport . Promotion : 1. We will advertise our shoes on newspaper, magazines , and on t.v. 2. We will open our own branch in home and abroad . 3. We will show the positive sides of our products such as its durability, comfort ability , up to date with latest designs and customer choices . ACTION PROGRAMES A Marketing Action Plan is a way of putting in place a structured series of activities to get a predictable result. Here are the basic steps: 1. Define the service we want to offer. 2. Define our Target Market for the service. 3. Define additional outcomes 4. Plan the resources required 5. Plan of costing Financial Plan Our financial plan is based on receiving several loans to purchase/fabricate the production equipment, provide initial operating capital, and establish the customer value. We will achieve profitability early in the first year and due to the expected high growth rate, we will realize strong profits on sales by net year. APOGEE shoes are made with recycled soccer ball and produced in fair-trade factories. We also sell only to independent retailers worldwide in order to cycle money back into local economics. Our hope is that people with similar philosophies will be inspired by our experiment in grassroots capitalism and start their own business ventures. This company pretty much focuses on one thing: recycled material. In making shoes, we use 80% recycled material and other things. Our principles underlie on low cost, but effective marketing strategies. Budgeting Apogee develop and make use a effective budget plan that will make sure to achieve expected profit rate. The following is an estimate of the sources of our principal costs: Capital costs †¢ Land fees †¢ cost of special equipment and †¢ Cost of set-out containers. Operating Costs †¢ Labor; †¢ Supplies; †¢ Administrative and Overhead; †¢ Truck Maintenance; †¢ Fuel, Maintenance; †¢ licenses, insurance, registration fees; Cost of Production WE will establish a minimum cost estimate for producing hoe. As we use the useless soccer ball for producing hoe the cost will not be high than using the material. Recycling less energy and generate less pollution than using less material. So here we have low energy cost. Promotion cost Our budget include marketing cost. Because e need to advertise.issue pre release, and make calls to potential customer. We will determine the cost of each marketing element. Labor cost In Bangladesh, the labor cost is not high. Here at first e hire some labors who are expert in this work. We analysis that this cost will not exceed our budget. We will make sure that we can get maximum output from labor. Distribution cost Apogee first launch some testing product and when it reached at higher growth rate then it ill export it product to other country. Controlling Apogee practice a constant marketing control process. First it set specific marketing goal. Then we will measure it performance in the marketplace and then evaluate the cause of any difference between expected and actual performance. Finally it takes corrective action to close the gap between it goal and it performance. This may require changing the action program or even changing the goal. (RESOURCES) Recycling Benefits A Recycling Revolution www.recycling-revolution.com/recycling-benefits.htm Threats on scrap sources accessibility: the loss of access and a new www.institut.veolia.org/recycling/recycling/recycling-threats.as Photos National Geographic Kids kids.nationalgeographic.com/kids/photos/