Marketing Plan New Product Essay Example for Free

Marketing cast New Product EssayTitles Page No 1) Executive summary 42) Current Marketing Situation 5-6 3) Threats and Opportunities 6-9 4) Objectives and issues 9-13 5) Marketing Strategy 13-19 6) perform Programs 19-21 7) Budgets and Controls 21-23 8) References 24Executive Summary on closingApogee is a tog which is completely made from old, un riding habitd association football balls. After utilise a soccer ball for quite virtuallytimes it becomes unworthy to use. So people be sick out the old soccer ball to buy a b ar-ass one. But what they dont realize is how harmful this plastic literal keister be for our environment. To remove this chore and also to make brand new merchandise we be going to produce trendy habilitate from these unused soccer balls. These shoes sess be worn by the people of all ages. These ar also going to be stylish so fashion touch on people can feel attractive in them. Next comes the huge issue of environment safety. There argon many harvest-tides in the securities indus turn up place which ar really 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 around of them cant afford such expensive mathematical 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 complaisant and last but not the least inexpensive.Current trade situationWe are inventning to produce shoes from recycled soccer balls. In the current merchandiseplace people of all classes hold shoes. They want more trendy sturdier shoes. Furthermore people are now more conscious about the environment they detain in. So we claim this idea of make 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 picture their love for the game and thats how we came up with the idea of making shoes from recycled soccer balls. Football is popular around theglobe , modifiedly in atomic number 63 and south america. As we are planning for a global launch of our product we leave concentrate particularly on these region. The youths of Bangladesh are quite concerned 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 fashion.We leave develop these shoes for both boys and girls. For Boys and girls who are aged from 10 to 15, we al offset asses their current demand for new shoes and also we impart customize them according to their needs. We lead use the same strategy for customers aged 16 and above. Thinking internationally, we may think about the international preferences of our global customers. We go out also move over 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 ingressories business by providing realm of the art merchandises specially sports shoes. But what we want to do is we want to create an overconfident image of our product by creating the ultimate soccer shoes that is on tap(predicate) and most import antly affordable for the customers. Furthermore we are using recycling framework to make this product that pull up stakes also create a positive image. As they say first impression is the last impression and thats exactly what we are planning to do. We wan to make a global impact.luckWe cannot sustain our consumerist lifestyle without getting inundated by garbage and exhausting the earths resources. Solid godforsaken 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 baffle shown some opportunities of producing shoes from recycling football soccer Good raw materialAs football is an international game and it is produced for international purpose, we are getting almost best quality of product. If we recycle thesoccer and i f we produce shoes from this waste material, ultimately we are getting good quality material for producing shoes.Less expensiveMany of we collect 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 edit out the price of soccer and so ultimately we will reduce the purchasing price also.Save animals lifeAs 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 resourcesWe are using the proper use of resources which is also good for environment.Environment friendlyFootball 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 APOGEEMarketing plans are written documents that help us communicate our marketing efforts for the following year. One of the most important separate of the marketing plan is the objectives and issues section, which helps internal employees or external s channelholders understand the marketing goals.1. To save our EnvironmentOur 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 strickle the environment. They have found that we are make port 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 toprevent 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 priceAnother objective is to grapple 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 shareAnother 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 marketOne 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 objectives1. 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 institutions 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 th e product. If they feel thatthe 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. last 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 depict some discount to our customers.Marketing Strategy Of Apogee Introducing a new pr oduct 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 attain success in high-growth, moderately competitive markets. However, to be successful in markets in which stinting growth has leveled and in which there exist many competitors who follow the marketing concept, a well- genuine marketing strategy is commandd. Such a strategy considers a portfolio of products and takes into grievance 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 identifi ed 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 cost 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 avai lable 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 large 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 gross 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 arefocusing increasingly on value for money, flavour 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 strike out 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 logoDifferentiation 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 p roducts .V. Will take redacts 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 minute 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 reassure them100% 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 package our shoes . 5. We will make it eco -friendly.paper shoe boxes plastic shoe box clear shoe boxPrice We will always soften to give customers good quality shoes at a reasonable price .For this we need to take some sort of incentives , th ey 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 foreign. 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 PROGRAMESA Marketing Action Plan is a way of putting in place a structured s eries of activities to get a predictable result. Here are the canonic steps1. Define the service we want to offer.2. Define our Target Market for the service.3. Define additional outcomes4. Plan the resources required5. Plan of costingFinancial PlanOur 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 basic 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.BudgetingApogee 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 costsCapital 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 feesCost of ProductionWE 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 costOur 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 costIn Ban gladesh, 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 costApogee first launch some testing product and when it reached at higher growth rate then it ill export it product to other country.ControllingApogee practice a constant marketing control process. First it set specific marketing goal. Then we will measure it performance in the marketplace and then mensurate 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 Revolutionwww.recycling-revolution.com/recycling-benefits.htmThreats on scrap sources accessibility the loss of access and a new www.institut.veolia.org/recycling/recycling/recycling-thr eats.as Photos National Geographic Kidskids.nationalgeographic.com/kids/photos/