SlideShare a Scribd company logo
1 of 78
Download to read offline
1
Title Page
2
Table of Contents
Title Page 1
Table of Contents 2
Executive Summary 4
1. Product Description 6
A. Type of New Product 7
B. Product Analysis 8
Big Mpact 8
C. Competitive Advantage 10
2. Opportunities and Issues Analysis 12
A. Strengths 13
B. Weaknesses 14
C. Opportunities 15
D. Threats 17
E. S-O Connections - Marketing Opportunities 19
F. W-T Connections - Marketing Issues 19
3. Target Market Strategy 22
A. Primary Consumer Market 22
B. Target Market Segments vs. Non-Targeted Segments 24
C. Additional Targets to Consider in the Future 25
4. Positioning Strategy 27
A. Statement of Positioning Strategy 27
B. Type of Positioning Strategy 27
C. Positioning Slogan & Theme 27
D. The Big Idea 28
5. Marketing Objectives 30
A. Marketing Objectives 30
B. Calculations 30
Increase Web Traffic and SEO 30
6. Marketing Mix Strategies 33
A. Product 33
B. Place 38
C. Price 41
D. Promotion 53
3
E. Summary of Marketing Mix 63
7. One Year Timeline 66
8. Projected Profit and Loss Statement 68
References 71
4
Executive Summary
5
Executive Summary
When most people hear terms like “ocean” or “mountains”, they envision beautiful, lush,
pristine environments. Some have fond memories of partaking in their favorite sporting
activity while others remember fun social events amongst family and friends. These are
the types of memories our team, here at MPACTED, reminisce about as well. But the
sad truth is, we too often forget the harsh impact that the human race, as a whole, has
had on these irreplaceable landscapes.
We started our company with the goal of creating a product that allows consumers to
maintain a more synergetic balance between fun, and environmental awareness. The
Big Mpact combines the convenience of a trash compactor with a luxury cooler into one
traveling unit. It is specifically engineered to easily integrate into your outdoor plans and
provide an easy way to collect and dispose of trash and recyclables upon leaving.
Through our extensive research, we have narrowed down our outdoor consumer
segment and created a strategic promotional mix to best reach this target market. We
have molded this mix around the concept of green marketing; exemplifying the benefits
of the Big Mpact for people and the environment. We will utilize this to create a
relationship of trust amongst communities based on genuine efforts of increasing
goodwill. We have positioned ourselves in such a way that the opportunity for growth
and innovation will be ever present, leading to the long-term success of MPACTED.
We invite you to join us to MPACT your life and MPACT the world!
6
1. Product Description
7
1. Product Description
A. Type of New Product
a. Product Introduction
The Big Mpact is an innovative, new-to-the-world trash compactor and cooler unit. It
was created with the concepts of convenience and environmental awareness in mind.
Trash compactors are not a new product, but our Big Mpact is unique because it can
accompany the user on any adventure. Big Mpact is a portable trash compactor and
cooler combined into a single traveling unit. Gone are the days of forgetting trash bags
while loading up the cooler with all the favorite food and drinks. By combining the two,
MPACTED has made being environmentally friendly, easy. The Big Mpact will come in
a single size, offered at a premium price.
b. Why the Big Mpact is New-To-The-World
MPACTED’s portable trash compactor is considered new to the world because nothing
like it exists yet. There are trash compactors that are used both industrially and in
households. The closest existing trash compactor that is considered “portable” are in-
home, stand-alone compactors. There is currently no market for truly portable
compactors. Although the concepts of a trash compactor and a cooler are already
mature in the product life cycle, the Big Mpact breathes new life into these old products.
8
B. Product Analysis
a. Visual of Product
Big Mpact
Outer Compactor Dimensions:
18” x 39” x 26”
Inner Compactor Dimensions:
12” x 37.5” x 24.5”
Outer Cooler Dimensions:
18“ x 39” x 26”
Inner Cooler Dimensions:
15” x 36” x 23”
Weight (Empty): 84 lbs.
Figure 1
The Big Mpact uses a battery powered hydraulic press. The user inserts items through
a slot on the front, bottom half of the product. When the slot is securely closed, the
hydraulic press system is triggered. This provides two functions. The first is safety. By
having the opening protected by metal flaps, little hands and fingers cannot be caught.
Additionally, the powerful hydraulic press will not work if the flaps are open. This also
eliminates any accidental injury. Second, by the compactor automatically triggering
when new trash is added, it will take longer for the trash receptacle to fill up, and it is
self-sufficient until it is time to empty. The Big Mpact features two compartments for
both recyclable and non-recyclable materials respectively, perfect for whatever social
event is thrown its way.
9
b. Features vs. Benefits
Features Benefits
Hydraulic press mechanism Efficiently compacts trash
Four 360-degree, locking all terrain
wheels
Easy maneuvering in all environments
16 inch extendable handle Comfortable grip
Adjustable to user’s height making the
heavy Big Mpact easier to move.
Removable and rechargeable battery Sustainable power source
Eliminates the need to discard and
replace batteries, making the Big
Mpact even more environmentally
friendly
Two front loading/emptying, removable
compartments: one for trash, one for
recyclables
Convenient to access
Easy to empty
Provides a solid base for the adjoining,
stacked cooler
Stackable cooler unit Transport food and drinks for social
settings
30 disposable bags Easier disposal of trash and recyclable
materials
10
C. Competitive Advantage
Level 1
The Big Mpact’s level one competitive advantage is achieved through product
positioning. It is positioned as a versatile luxury outdoor good that enables to user to
take control of their environmental impact. The hedonic benefits of the product usage
draw customers in. The users will feel like they are contributing to preserving the
environment as they reduce their footprint through the compaction and recycling of
trash.
Level 2
Our level two competitive advantage comes from the innovative technology and the
quality materials used. The high-quality materials and components required to
manufacture this product ensure that MPACTED’s trash compactor is built to last. We
strive to create a product that will last a lifetime so that no additional waste is created
from having to frequently replace the compactor.
11
2. Opportunities and Issues Analysis
12
2. Opportunities and Issues Analysis
Figure 2
13
A. Strengths
Company Culture
At MPACTED, our goal is to provide consumers with a product that
allows them to enjoy an active, social lifestyle while ensuring the
preservation of the surrounding environment for future generations.
Our strong belief in our core values is aligned throughout the
company structure from concept generation to finalizing the
product. This process began with the careful selection and thoughtful management of
our employees. Happy employees lay the groundwork for a quality product and
excellent customer experience. We believe in maintaining a healthy, diverse, and open-
minded working environment where our employees are encouraged to share their ideas
and collaborate effectively. Our pride in strong company culture can be seen through
the quality reflected in our products, setting us apart from any remotely similar products
on the market.
Expertise
Our resources are comprised of three main categories; time, people and expertise. We
view the time and money invested in our company as an investment in future
generations. Our high-quality products are built to endure the wear and tear of an active
and environmentally conscious lifestyle.
All employees within the company are expected to uphold the values of our company.
They believe in preserving the earth’s beauty for generations to come and use that as a
driving force in creating these innovative products.
Our company was founded by a handful of people who love being outdoors. Whether
it’s spending time in the ocean in Hawai’i, snowboarding in Colorado, or camping in
Utah, our founders have a lifetime of experiences in the outdoors. Thus, we have all
witnessed firsthand the harsh impact that trash has had on these beautiful places and
14
continue to search for solutions. Our combined lifetime of expertise has allowed for the
creation of products that every individual is proud to put their name behind.
Exclusivity
We take pride in our ability to provide MPACTED’s customers with a product that is held
to the utmost standard of quality. The unique design and traveling capabilities set the
Big Mpact apart from other existing products on the market.
A quick online search of the term “portable trash compactor” results in a variety of
stand-alone devices meant for indoor use, rather than something that you can take on
your next adventure (American Home Shield). Our exclusive design was created with
our consumers’ desire for travel and convenience in mind.
B. Weaknesses
New Company
Despite our strong beliefs in our company’s goals, we are still a
startup. MPACTED is striving to prove that there is a need that can
be filled with our product. Trash compactors with travel capabilities
are not in the forefront of people’s minds when considering a packing
list for their next adventure. There are strong, well-known
competitors who have a recognizable brand and offer substitute products. These
stationary options cloud the minds of consumers when trying to visualize what our
product is truly capable of. Our brand is not yet known, and we have lots of work to do
in order to create trust between our company and our potential consumers.
Resources
Due to the high quality of our products, parts and labor are expensive, especially within
the first year of operation. We do not have an established production facility, which
means that we have to source our product components from various locations, adding
to production costs.
15
MPACTED’s means of distribution will heavily rely on direct channel distribution within
the first year. Therefore, our sales team will be an essential driving force to increase our
consumer base within the first year. As a result, funds for marketing must be
strategically allocated in a way that maximizes our reach to customers, creating the
biggest impact for our dollar.
Product Component
Despite our high product quality, the first generation of units with be expensive, heavy,
and fairly large. There are many components needed to create a safe and efficient
hydraulic compression system. Basic mechanisms will be used in the first year that
weighs 15 lbs. on their own. Future success will determine the ability to dedicate larger
funds to research and development in order to reduce these pitfalls.
C. Opportunities
Market Demand and Trends
The demand for trash compactors continues to grow rapidly, with a
projected compound annual growth rate (CAGR) of 3.8% from
2019-2028 (MarketWatch). Oddly enough, the generation of plastic
waste grows at the same rate every year (Plastic Pollution
Coalition).
Additionally, in 2015 alone, the EPA recorded 67.8 million tons of recycled municipal
solid waste (EPA). Nearly 70% of this waste was comprised of paper and paperboard,
which is exactly the type of waste we want our consumers to be able to utilize this
product.
By providing consumers with a convenient way to dispose of litter during social events,
we hope to contribute to the increased recycling efforts. It can be so easy to desecrate a
natural area when a group of people get together. Cans, bottles, cups, and food
16
wrappers often get left behind. Our goal behind the design of the Big Mpact was to put
the next cold one, and the finished cold one, in the same location. That way, our self-
driven consumers will be able to take initiative in ensuring that they do not contribute to
the ever increasing problem.
Community Involvement
Our company can engage in several activities in order to reinforce goodwill within the
community and reaffirm our commitment to environmental protection. For instance, we
will vow to join the 1% For The Planet movement. This coalition is comprised of
businesses, nonprofits, and individuals who vow to make contributions to environmental
organizations around the world (1% For the Planet). As a company, we would have the
opportunity to donate 1% of our annual revenue to organizations within the non-profit. In
turn, these non-profits provide funding for environmental efforts. This aligns perfectly
with our environmental goals.
This would not only instill goodwill within our consumer base but also help to increase
brand awareness and trust. We would have multiple options in ways to join the coalition,
by beginning with sales from a specific product line, brand, or the company as a whole.
By joining, we would receive permission to utilize the 1% For The Planet logo on our
website, social media platforms, and advertisements, furthering the reach of our brand
and attached message.
In addition, this would provide an opportunity for our company to engage in green
marketing. This method of engagement embraces three keys themes: good for the
planet, good for you and your family, and good for your wallet (Mintel Academic). Well
known, respected brands, with their roots entwined in sustainability, have found success
with this method. It gives us the opportunity to highlight the inspiration for these
products.
As an added point of community outreach, we can also get involved with the Take 3 for
the Sea initiative. This organization emphasizes how the simple decision to take 3
17
pieces of trash with you when you leave the beach or any outdoor setting can have a
lasting impact on the preservation of that area (Take 3). By sponsoring their beach
cleanup events we would provide ourselves the opportunity to create goodwill amongst
consumers while increasing awareness of our products and its unique benefits.
Geographic
Areas where outdoor activity is prevalent present the greatest opportunity for increasing
our consumer base and market share. Social activities including camping and beach
going will be closely aligned with our brand through marketing efforts including
community events and advertisement. For consumers who camp frequently, simple
tasks like cooking, cleaning, and hydrating create a large amount of trash (Collier).
Proper disposal of such items can easily create large quantities of trash that camping
areas are not equipped to handle (Collier). Taking the portable trash compactor on your
next trip can alleviate this added area of stress.
The same can be said for ocean activities. Trash that is left behind accumulates on the
shoreline and contributes to the ever-growing issue of marine debris. This can cause
further problems including damage to important habitats like coral reefs and seagrass
beds, harm to wildlife including many endangered species, and potential damage of
marine vessels (Green Boating Guide). In addition to the success of our business, we
hope to make a visible impact on the earth by decreasing the amount of environmental
waste.
D. Threats
Competitors
Existing competitors with portable trash compactors for home use
pose a threat to our company. Users who have invested in these
may not want to make another large investment in a similar device
meant for outdoor use. It may simply be easier to take their trash
18
back to their home in a trash bag and compact it there, or just dispose of it on the spot.
Existing cooler options are nearly endless as well. This is a common household item
and consumers may not be looking for a replacement. Indirect competitors pose a threat
as well. Traditional dumpsters and trash receptacles can commonly be found in areas
meant for social activities. Consumers may simply prefer to dispose of their waste at
these public receptacles and let others worry about the following steps.
Legal
Safety regulations will be of the utmost concern for this product. Making sure the Big
Mpact meets all safety requirements will have a major impact on our manufacturing
process to ensure that our intended standard of quality is met. To guarantee safety, the
Big Mpact’s hydraulic system will be fully internal. We need to ensure that the press
itself will not activate unless the compression compartment is completely shut.
One of the largest drawbacks about the Big Mpact is its weight. Transporting this
product is the largest selling point as well. As a result, the design of the all-terrain
wheels and sled feet will need to undergo rigorous testing. MPACTED needs to ensure
that this product can be effortlessly transported from one point to another and that the
wheels can handle the weight on tough terrain. Lastly, the packaging and product itself
will require warnings and instructions about proper use, including “team lift” tags.
Product
Several common issues exist with trash compactor machines, including odor, noise, and
issues if the door is unable to shut properly. These issues relate back to ensuring that
products are manufactured to our set specifications. In addition, it is inevitable that
malfunctions will occur every once in a while. First-year product warranties will help to
combat any cognitive dissonance among customers should this issue arise. By agreeing
to repair the product ourselves, we gain the ability to oversee the repair process and
intensive testing before returning the product to its owner.
19
E. S-O Connections - Marketing Opportunities
It is encouraging that the demand for trash compactors is
projected to grow by 3.8% for the next nine years. As we
introduce our products to the market and continue to dedicate
funds to research and development, we aim to position
ourselves in the forefront of consumers’ minds as a company
that continually creates more user-friendly trash compactor
options for everyday use.
In addition, by aligning our company culture and mission with social causes, such as 1%
for the Planet and Take 3, we reinforce our environmental goals to consumers. This
emphasizes that we are not a company that is attempting to monopolize profits on the
environmental awareness movement, but rather create these products to kickstart
lasting change.
Our combined team of experts from various backgrounds provides a well-rounded
knowledge base on the geographic areas we hope to target. By fusing our collective
areas of expertise as we pursue further research, we will be able to identify key
activities within these regions and create content that best exemplifies the benefits our
product provides for their specific needs.
F. W-T Connections - Marketing Issues
Due to the high costs associated with producing the Big Mpact
combined with the threat of indirect competitors, we run the risk of
losing potential customers. They may view our product as
exorbitantly overpriced and opt for the common alternative of
hauling the trash away in traditional receptacles. In order to
combat this issue, we need to emphasize the long-term benefits
20
of purchasing our product. The Big Mpact is built to last for years on end. As a result, it
will save time and money for our customers in the long run.
We also realize that this product appeals to a very niche market. Our paid ads are
designed to specifically create appeal within the outdoor consumer market. We will
need to conduct extensive research to identify who within the segment has an annual
income ranging from $65,000 to $80,000 and is more likely to be the initiator of outdoor
events. These will be the individuals who are likely to benefit the most from our product
making them more willing to pay top dollar.
21
22
3. Target Market Strategy
A. Primary Consumer Market
a. Primary Target Market
Our target market consists primarily of people that participate in social outdoor activities
on a regular basis. This includes but is not limited to camping, beachgoing, and outdoor
sporting events. The age range that we want to target is people aged between 29 to 55
because of the cost of our product.
The range of income we would like to target is between $65,000-$80,000. In 2017, the
median household income for people aged between 29 to 55 averaged $73,777 (U.S.
Census Bureau) making this age group suitable for our target demographic.
Figure 3
23
We would like to specifically target this group of people living in California, Vermont,
Oregon, Florida, Colorado, Maine, and Rhode Island. These states are actively trying to
have a positive impact on the way people interact with their trash (Arvesen; Leins). The
residents of these states are more inclined to follow an “outdoor-centered” lifestyle due
to the diversity in natural surroundings.
b. Estimated Size of Target Market
Figure 4
Our initial findings indicated that more than 385 million people visit the beach every year
(2017 Life-Saving Statistics). When further examining the psychographic tendencies of
our target market, we found that camping makes up roughly 29% of the U.S Outdoor
Consumer Population (Who is the Camping Consumer). If we break the 29% down,
24
there are 43% Female Campers and 57% Male campers. Across the “camper”
demographic, the median age is 36 years old, and 43% of this population is earning
$75k or more.
We have combined the factors of age, annual earnings, and outdoor lifestyles in order
to determine our target market size. Currently, there are roughly 69,000,000 individuals
in the US that fall within the Sports & Outdoor industry (Statista). This will be our
beginning figure to determine the target market size. The current US population is
327,000,000 (Worldometers).
Beginning with age, roughly 33% of that population falls within our targeted age range of
29-55 years (U.S. Census Bureau). By applying that percentage to 69,000,000, we
arrive at 22,770,000. On average, roughly 15% of households are making more than
$77,000 annually, further narrowing our target market to 3,415,500 (Vo).
Finally, by applying a 2% conversion rate, we arrive at 68,310 potential customers. As a
young company, we believe that it is likely for us to reach 25% of the total target market
in the first year bringing us to roughly 17,000 buyers/sales in the first year. In essence,
17,000 sales represent less than 1% of the total market share prior to conversion. As a
startup company, acquiring 1-5% market share within the first five years is much more
realistic (Zhuo). We are taking a conservative approach and hope to continually
increase this in the future.
B. Target Market Segments vs. Non-Targeted Segments
Our target market is more likely to buy the Big Mpact over a normal trash compactor or
cooler based on their social setting preferences, tendencies towards outdoor activities,
and a higher rate of disposable income. People between the ages of 29 to 55 are more
likely to go camping and own luxury items such as the Big Mpact. In contrast, people
who are younger, such as millennials, generally don’t have the disposable income to
spend on a $1,148.45 item. People aged 45 to 55, are more likely to buy our product
25
because of the impact that it will have on the earth (Fredin). Additionally, between 2006-
2013, there has been a consistent increase in people buying coolers, which is
encouraging news (Ferguson).
C. Additional Targets to Consider in the Future
If we focus our efforts towards targeting consumers who frequent outdoor group settings
activities, we can expand our target market to include Concert and Festival goers as
well as Tailgaters.
Concert and Festival Goers
In 2015, there were reportedly 32 million annual festival attendees (Nicholson). As the
frequency of festivals increases, so does attendance. Out of this segment, roughly 46%
of them are aged between 18-34. Furthermore, the majority of these concertgoers travel
an average of 903 miles to attend a festival (Rhys). This makes them the perfect target
market for our future plans to extend the Mpactor brand line and include a smaller,
travel-friendly version (discussed in future product line extension).
Tailgaters
During our research, we found that on average 18% of sports fans tailgate before the
games out of the 140.12 million fans that attended NFL games, NCAA Football games,
and MLB games (Roberts). Out of this target group, a study from Weber Grill Watch
showed that 40% of these fans preferred to bring a full-size grill and 55% said they
would use a portable one (McGee). This leads us to believe that this segment of the
market would also be inclined to purchase our Big Mpact due to its versatility and
convenience.
26
27
4. Positioning Strategy
A. Statement of Positioning Strategy
For our positioning strategy, we want to truly set our Big Mpact apart. MPACTED has
formed a new-to-the-world product out of existing concepts and technologies. However,
our goal is to bring the trash compactor/cooler into a whole new light. In short, there is
no existing product, similar to ours, on the market today. Our product will seamlessly
compact your trash and keep your brews cold at the same time.
The Big Mpact is meant to help contain trash by presenting an easy, all-in-one unit. We
wanted to come up with a concept that would keep your out of the oceans, mountains,
and streets, while also keeping food and drinks at a cooled temperature. MPACTED’s
trash compactor/cooler simply keeps our earth clean, and the brews cold. No matter
what the occasion, the Big Mpact will help the environment.
B. Type of Positioning Strategy
For our type of positioning strategy, we would like to use the attributes/benefits strategy.
This type of strategy is mainly known for focusing on the product’s main qualities and
advantages that set the product apart. We want to use this strategy because our
product isn’t like any product on the market.
This will be a high-end luxury but versatile item without the brand name. Some extra
benefits that our consumers will gain from using our product are saving the earth,
reducing their trash footprint, and having a cooler that can keep their drinks cold.
C. Positioning Slogan & Theme
We want to let people know about the benefits and how our product isn’t like any other
product in the world. With our slogan, we want to truly emphasize how the Big Mpact
can make it easy for people to help keep the earth clean of debris. After hearing our
slogan and seeing it advertised, we hope that our target market will begin to associate
28
our product with the idea of how picking up your trash when you’re having a good time
— is a good time.
D. The Big Idea
“MPACT your life, MPACT the world.”
MPACTED wants to drive home how interconnected our lives are with the environment
around us. Humans are social beings. We gather to share good food, good company,
and good times. This often happens in the great outdoors, whether it is around a
campfire, playing sports on the beach, surfing with friends, or simply getting some sand
between your toes; the best times are around the best company. MPACTED wants to
bring people together while improving the environment.
29
30
5. Marketing Objectives
A. Marketing Objectives
Goal #1 - Increase web traffic and SEO
Goal #2 - Increase the number of web visits from social media
Goal #3 - Increase our reach at community outreach events
Goal #4 - Sell 17,000 units
B. Calculations
Increase Web Traffic and SEO
The goal to increase brand awareness was calculated by determining the size of the
target market. The target market includes 3,415,500 people. We then applied a 2%
conversion rate which resulted in 68,310 potential customers.
We aim to have our website as the main channel, so optimizing it is a priority. The
majority of our web traffic will come from keyword searches. On average search results
can account for roughly 35% of website traffic (Gesenhues). Some keywords associated
with our brand include; trash compactor, cooler, sustainability, beach, trash, and
recycle. The strategic use of keywords throughout all of our marketing efforts will help to
boost SEO, in turn increasing our web traffic. SEO will also be improved through
consistent social media efforts.
Increase Number of Web Visits from Social Media
After conducting research on similar retailers, 26% of web traffic should come from
referrals from social media channels (Gesenhues). We plan to maintain a social media
presence which will be further discussed in the promotions section of the report.
Our social media feeds will embody how we want Mpacted’s products to be positioned
in the minds of our customer. We will include direct links to our website on each social
31
media platform. To measure web visits from social media, we will include a short survey
to ask visitors how where they heard about our website. Link clicks to our website can
also be measured through each social media platform’s native analytics tools.
Increase our Reach at Community Outreach Events
We aim to reach 52,000 people through community outreach event participation. We
arrived at this number based on previous attendance and estimated future attendance
of these events. In order to convert event attendees into customers, we will focus on
increasing engagement with them during and after events.
Attendees at beach cleanup events and other community outreach events will be
encouraged to share photos of themselves using the Big Mpact share how it has
changed their lives using our branded hashtag, #MPACTyourlife. Reach events will be
measured by the number of product trials during the event, impressions on social
media, mentions, and hashtag used during the event, and sales made during these
events.
Sell 17,000 Units
Selling 17,000 compactor cooler units in the first year would provide revenue of $xxx.
We plan to sell enough compactors to cover fixed and variable production costs. Our
direct sales through MPACTED’s website will account for the main source of our
revenue, followed by direct sales through Amazon, then indirect sale through our
retailing partner, REI. Focusing on selling through a direct channel in the first year will
lower costs and increases our margins.
32
33
6. Marketing Mix Strategies
A. Product
a. Product Mix
i. Full Product Line
The MPACTED product line is comprised of two main trash compactors and various
corresponding accessories. The primary product, Big Mpact, is a portable trash
compactor and waste receptacle in one device, with a stackable cooler on top. The
entire unit can be rolled into place and remain stationary in its stacked position or the
cooler can be removed and set on the ground for lower access.
The product measures a total of 3 feet tall, 39 inches wide and 26 inches deep. The Big
Mpact has two front-loading slots with a removable bin for easy emptying. The
compactor holds 180 liters of compacted material and weighs 84 pounds empty. This
product utilizes a hydraulic press mechanism in order to compact recyclable materials,
including paper, plastic, and aluminum. The device is battery powered and
rechargeable.
ii. Included Features & Extended Product Accessories
The standard model comes with 360-degree locking off-road wheels, an extendable
handle, one removable, rechargeable battery, and 30 disposable bags. Customers will
be provided with 5 colors options for the outer coating of the compactor: Black, Gray,
Teal, Red, and Green. All premium add-on items will be sold separately, giving
consumers the option of premiumization at their own discretion.
Both trash compactor models will come with a 1-year warranty. This will cover all
existing components of the originally purchased device and ensure replacement of parts
as needed or full replacement of the device up to two times within the first year.
34
Accessories are separated into two categories, Utility, and Personalization. Utility
accessories include items that aid or add to the function of the product. Personalization
accessories allow users to customize their product, adding their personal touch and
style.
Big Mpact Accessories
Utility Personalization
● High-power, waterproof solar panel
with USB charging capability
● Additional external batteries
● 3-compartment battery carrying
case
● Plastic or biodegradable bag refills
(pack of 30 or monthly
subscription)
● Snow equipped swiveling ski feet
The Big Mpact accessories line includes a range of items that equip this product for the
busiest of social settings, making it so much more than a simple trash compactor. A
solar panel can be purchased for simple installation on top of the trash compactor unit.
This option allows you to easily plug in and charge smaller USB capable handheld
devices, such as phones and portable speakers. Additional external batteries and a 3-
compartment battery travel case are also available for purchase. This will allow users to
extend the battery life of their trash compactor for longer use.
When customers online are preparing to check out, this particular product will be
suggested as an add-on due to its practicality. The off-road feet can be switched out
with ski feet in order to more easily navigate snowy or icy terrain. MPACTED will also
35
offer plastic or biodegradable bag refill subscriptions, which will send customers 30
refills at the beginning of each month.
iiI. Future Product Mix
Beyond the first year, MPACTED will dedicate research and development efforts
towards creating both line and brand extensions. In regards to line extension, the
company will introduce a second product size option as a more affordable item suited
for everyday use.
The lightweight product, Mpact will be powered manually. The user unscrews the lid to
place the trash into the compactor before securely replacing it. They then use the
retractable hand crank to press smaller recyclable materials.
Figure 5
The smaller compactor, Mpact, is meant for convenient everyday use. It will measures
at 12 inches in height with a 15-liter top-loading compartment and an empty weight of 7
lbs. This product allows users to dispose of smaller recyclable plastic and paper waste
on the go. This product features a retractable hand crank press and attached handle for
ease of transportation. Due to its simplified design, the lightweight device will also be
TSA safe, allowing for use during air travel as well.
36
Future Mpact Accessories
Utility Personalization
● Plastic or biodegradable bag refills
(20 pack or monthly subscription)
● Interchangeable fashion skins
● Handle attachments
Interchangeable fashion skins can be purchased to customize the product and reflect
personal style. These will be produced with a high-quality material coated in a water-
resistant layer that reduces the issues of spills and stains. Plastic or biodegradable bag
refill subscription is also available in the same quantity and frequency as the larger
edition. Additional handle attachments can be purchased to provide easier
transportation, attachment to personal bags, as well as reflect personal style.
Dependent on the success of the original Big Mpact model, the existing version will
undergo a redesign in the future to feature sleeker, more streamlined exteriors, lighter
interior mechanisms and increased volume for trash and recyclable compartments. As
an added point of incentive, users will be encouraged to trade in their old models for a
rebate. This allows MPACTED to recycle material for future use and ensure proper
disposal of materials.
b. Branding Strategies
i. Brand Name & Branding Strategy
We wanted to choose a brand name that retains the connection to our company name,
MPACTED, which was designed to embrace our desire to make a positive impact on
environmental preservation. In addition, we want to create a link between this concept
and our high-quality trash compactors. As a group, we decided on Big Mpact as the
brand name for our product. We feel that specifically branding our trash compactors
under this name allows us to introduce several more product lines in the future. While
37
we hope to create more innovative and streamline models of our compactors, we also
present ourselves with the opportunity to look into improving other recycling devices.
ii. Brand Mark
We do not have a brand mark specifically
dedicated to the Big Mpact brand name. Instead,
the MPACTED logo will be used across the board
for all products. We feel that within the first year,
our products are centered around the specific
concept of trash compaction and the positive
impact it can have on the environment. Our existing
logo reflects that well.
c. Stage of Product Life
This product line is in the Introduction Stage of the
product life cycle. By definition, as a new to world
product, there is nothing else like the Mpact
currently on the market. The vast majority of trash
compactor products are either large scale, stationary, or a combination of the two. A
search of “portable trash compactor” results in products that are strictly meant for
movement around the interior of a room and are not intended for outside use. While
luxury coolers can be positioned further along in the PLC, in the growth stage, our
combination product sets it apart from this category.
In this stage, we can expect sales to slowly increase exponentially as we tap into the
market and establish our position. As the company continues to research and
development while working to obtain the most efficient manufacturing processes, we
can expect costs for this premium quality product to be very high and profits to be
relatively low. It will be crucial to take advantage of our first mover position and limited
competition in order to stay ahead of the game.
38
B. Place
a. Channel Strategy
i. Channel Breakdown
MPACTED will utilize multiple channels to reach our target market. This decision will not
only give us a greater reach amongst the outdoor industry consumers but also help us
to further identify which channels will be most profitable in the future.
ii. Visual Diagram of Channel Decisions
Figure 6
39
b. Direct & Indirect Channels
ii. Direct Channels
The main source of direct sales will be resulting from the company’s personal website.
The Big Mpact, along with corresponding accessories, will be available for purchase.
We will further our reach through direct channels by participating in several trade shows
that will give us the opportunity to connect with consumers and form relationships with
future retailing partners.
Trade Show Breakdown
Trade Show Location Date Description
Outdoor
Retailer Snow
Show
Denver, CO January
29-31
The culmination of outdoor and snow industries.
Improves reach with a diverse audience and
includes media presence to further share brands
with consumers. (Outdoor Retailer, Snow Show)
Outpost LA
City Market
Los
Angeles, CA
June 1 An interactive event that combines experiences
with curated products in order to reach a unique
consumer base. (2019 Outpost LA City Market)
Outdoor
Retailer
Summer
Market
Denver, CO June
22-25
North America’s largest outdoor trade show.
Increase brand awareness, networking
opportunities, buying, and sourcing connections,
and meeting with key influencers (Outdoor Retailer,
Summer Market).
Additionally, we will set up pop-up shops at several ocean clean-up events in California
and Florida, hosted by Take 3 for the Sea. At the events we will be able to display our
product and consumers will have the opportunity to test them out by disposing of the
40
trash they collected along the coastline. Booth visitors will be directed to our company
website for purchasing options.
Trade Show Location Breakdown
Event Location Date Description
Take 3 Community
Education: Clean Up
California
Florida
March 1
May 1
August 1
Events hosted worldwide
throughout the year. Will focus
on cleanups along California
and Florida coastlines
We will also have the Big Mpactor available for purchase through the MPACTED store
on Amazon.com. We will position ourselves as a third party, allowing for a third mode of
direct sales. By doing so, we leverage consumers trust in Amazon while continuing to
drive sales without giving up a high margin in the first year.
ii. Indirect Channels Breakdown
Lastly, we will utilize the strategy of indirect sales through the retailer, REI. In
researching our target market, we found that their current product offerings strongly
align with the preferences of our consumer base (REI). We feel that this retailer will be
the most likely partner for our first year. This partnership will allow us to test out the
retail market and more accurately assess the potential for future retail avenues.
This outdoor lifestyle opens the door for efficient distribution of our products
geographically. Colorado, where the company was founded and based all production, is
a convenient halfway point between both coasts.
c. Additional Channel Strategies for the Future
Beginning in the second year of production, we aim to look towards partnerships and
collaborations with well-established outdoor product companies such as Yeti and
41
Kohler. This presents us with the option of co-branding and increasing consumers’
perception of our product through premium brand associations.
We also hope to further enhance our core values through the continuation of our
presence at environmental cleanup events hosted by Take 3. We will move towards the
option of corporate sponsorship in order to instill goodwill within the community and
further enhance our core values.
We would like to solidify direct channel relationships with added retailers including
Cabela’s and Outdoor World. Both retailers are well-established in providing high-quality
products to their consumers.
C. Price
a. MSRP
After reviewing our options for channel distribution, taking into account markups, we
have strategically decided to set the MSRP for the Big Mpact at $1,148.45. The
components that are included in the $1,148.45 price are the trash compactor,
accompanying cooler, all-terrain wheels, extendable handle, and a battery pack with
charging cord.
42
Figure 7
First, the largest opportunity for profit margin is through our direct channel. Selling from
our website, as well as events, cuts out all the middlemen that charge additional markup
costs. It costs the company $350 to purchase the Big Mpact from the manufacturer. The
MSRP of $1,148.45, which leaves us with a profit margin of $798.45 per unit, or a
69.52% profit margin.
The second channel is through Amazon. Although this is not direct to consumer,
Amazon charges a 15% charge on the profit made from selling on the unit. This means
that for every Big Impact we sell through Amazon, we must pay Amazon $119.77. In
addition to the selling fee, Amazon also charges a flat rate of $40 per month to have
MPACTED’s products available for purchase. After the cost of goods sold and the sales
fee from Amazon, MPACTED will make $678.68 per unit sold through Amazon, a profit
margin of 59.1%.
Lastly, our third channel of distribution is through a retailer. This is the least profitable
channel of distribution for MPACTED. In order for the Big Mpact to make it on shelves in
43
a retail store, our target is REI, it must go through three markups. The industry average
for a wholesaler is a 25% markup, and the average markup for retail is 50% (Bond).
In order to turn a profit in this channel, MPACTED will markup the Big Mpact by 75%,
which gives a sales price of $612.50 per unit to the wholesaler. The wholesaler then
adds their 25% markup, which raises the price of the Big Mpact to $765.63 changed to
the retailer. Once the retailer adds their markup of 50%, the final price to the consumer
is $1,148.45.
b. Pricing Objectives, Strategies, & Policies
MPACTED’s goal is to make a high-end product that promotes a clean earth, affordable.
However, high-quality materials and new-to-the-world design cannot be free. Therefore,
we have priced the Big Impact at $1,148.45. This price tag may seem steep, however,
the Big Impact is built to last. It is catered to adventurers who see value in preserving
the earth for generations to come.
As detailed in the previous section, we will be utilizing the Markup Pricing Strategy. We
will add a standard markup to the Big Mpact’s original cost as it moves through the
distribution channel. These markups are visually reflected in Figure 7 above. The first
markup up of 75% on the manufacturing cost reflects our profit, the second markup of
25% represents the wholesaler's profit, and the third market of 50% represents the
retailer's profit. By utilizing this strategy, every segment is able to turn a profit.
In addition, we are also incorporating the perceived value pricing method. This method
takes into account the factors such including, customer’s image of the product
performance, warranty quality, customer support, and company reputation. Our high-
quality product, one-year warranty, excellent customer service, and commitment to
environmental awareness will instill a higher perception of value in the customer’s mind.
The combination of these inputs further justifies our premium price of $1,148.45.
44
Lastly, we will utilize the bundling pricing strategy specifically for our additional batteries
and 3-compartment carrying case. Customers who have purchased the Big Mpact will
already have one battery. In order to further entice customers to buy our accessories,
we will reduce the price of buying a carrying case and one additional battery together
from $160 and $120. Because the case is meant to carry 3 batteries, our goal is to
create desire amongst our customers to purchase the third battery at a later time.
MPACTED has decided to set the price of the Big Impact at $1,148.45, and restrict any
discount offered to a maximum of 25% off, or $287. This discount cap means the
minimum price to the consumer is $861.45. The company decided to set this discount
ceiling across all channels in order to present a uniform image to our consumers. Also,
by setting this price floor, we can eliminate extremely low reference prices that can drive
down profit for all distributors.
c. Relevant Competitors
One of the factors that went into deciding the MSRP of $1,148.45 is the competition.
The Big Mpact’s competition is more than just trash cans and other trash compactors,
but coolers too. The company we saw as our biggest competition would be Yeti. Yeti
offers high-end, high-performing coolers. Given the size required for the Big Mpact to be
effective, we looked at the Tundra 210 as a comparable product.
45
Yeti charges $799.99 for a similarly sized cooler to our Big Impact, however, it does not
include an accompanying trash compactor, or all the added accessories
(DannyQuigley). For our target market of social, active adventurers, our product has
more to offer for the money.
Figure 8
(DannyQuigley, & Frankenstein)
46
The same can be said for our second competitor comparison; Pelican’s 150QT Elite
Cooler. Once again, this luxury cooler is priced at a premium rate of $629.95. Though
our cooler will have similar integrity, the combination with the trash compactor leaves no
room for exact comparison.
Figure 9
(150 QT Elite Cooler, Pelican)
47
For the last price comparison, we wanted to look at a trash compactor from a reputable
brand that consumers trust. Kenmore is a trusted name in the minds of consumers
when considering household appliances. Our trash compactor will be held to the same
standards of quality but will have the added capability of being transportable. The
standing Kenmore Trash Compactor is listed at $549.99.
Figure 10
(Kenmore 14729 Trash Compactor)
48
Cost Break Down
Big Mpact Revenue per Channel
Big Mpact
Direct
(Web)
Amazon Wholesaler Retailer (REI)
MSRP
Retail Price $1,148.45 $1,148.45 $1,148.45 $1,148.45
% of Profit -
Amazon
$119.77
Price Paid -
Wholesaler
$612.50
Price Paid - Retailer $765.63
End User Price $1,148.45 $1,148.45 $1,148.45 $1,148.45
Percent of Sales 50% 30% 20%
Our Revenue 1,148.45 $1,028.68 $612.50
COGS $350 $350 $350
Gross Margin $798.45 $678.68 $262.50
Gross Margin
Percent
69.52% 65.98% 22.86%
Units per Channel 8500 5100 3400
Profits per Channel $6,786,825 $3,461,280.75 $892,500
Total Revenue $11,140,605.75
49
Big Mpact Direct Channel Revenue
Big Mpact Direct (Web)
MSRP $1,148.45
Cost to Wholesaler -
Cost to Retailer -
End User Price $1,148.45
Percent of Sales 50%
Sales Revenue $1,148.45
COGS $350
Gross Margin $798.45
Expected Units Per Channel 8,500
Revenue Per Channel $6,786,825
Swiveling Sled Feet Direct Channel Revenue
Swiveling Sled Feeti
Direct
(Web)
MSRP $180
Cost to Wholesaler -
Cost to Retailer -
End User Price $180
50
Percent of Sales 100%
Sales Revenue $180
COGS $60
Gross Margin $120
Expected Units Per Channel 510
Revenue Per Channel $61,200
One Additional Battery
One Additional Batteryii Direct (Web)
MSRP $100
Cost to Wholesaler -
Cost to Retailer -
End User Price $100
Percent of Sales 100%
Sales Revenue $100
COGS $20
Gross Margin $80
Expected Units Per Channel 510
Revenue Per Channel $40,800
51
Three Battery Carrying Case
3-Battery Carrying Caseiii Direct (Web)
MSRP $60
Cost to Wholesaler -
Cost to Retailer -
End User Price $60
Percent of Sales 100%
Sales Revenue $60
COGS $10
Gross Margin $50
Expected Units Per Channel 510
Revenue Per Channel $25,500
Biodegradable Trash Bags
Biodegradable Trash Bagsiv Direct (Web)
MSRP $12
Cost to Wholesaler -
Cost to Retailer -
End User Price $12
Percent of Sales 100%
Sales Revenue $12
52
COGS $3
Gross Margin $9
Expected Units Per Channel 1,000
Revenue Per Channel $9,00
Plastic Trash Bags
Plastic Trash Bagsv Direct (Web)
MSRP $10
Cost to Wholesaler -
Cost to Retailer -
End User Price $10
Percent of Sales 100%
Sales Revenue $10
COGS $2
Gross Margin $8
Expected Units Per Channel 1,000
Revenue Per Channel $8,000
53
Solar Panel USB Charger
Solar Panel USB Chargervi Direct (Web)
MSRP $110
Cost to Wholesaler -
Cost to Retailer -
End User Price $110
Percent of Sales 100%
Sales Revenue $110
COGS $40
Gross Margin $70
Expected Units Per Channel 510
Revenue Per Channel $35,700
D. Promotion
a. Promotion Mix Strategy
MPACTED will focus on six different facets of promotion to create a comprehensive
promotion mix that will effectively reach our target market. Our promotional mix will
include elements of advertising, personal selling, sales promotion, events and
experiences, publicity, and social media marketing. The overarching theme connecting
our Promotional Mix will be “green marketing”; the concept of emphasizing the benefits
for people and planet, that are derived from our product.
54
Figure 11
i. Advertising
Out advertising efforts can be split into two categories, print, and digital. The first
component of our marketing mix will feature print ads in REI’s Backpacker Magazine.
This magazine is considered the authority for outdoor adventures, which perfectly aligns
with the preferences and psychographics of our target market. It is not one of the largest
publications on the market but again caters to the niche population we are trying to
reach.
55
Figure 12
These printed ads will feature groups enjoying familiar outdoor activities in natural
settings, with our slogan, “MPACT Your Life, MPACT the World”. For example, camping
in the forest, playing volleyball at the beach, and kayaking on the lake. Ads will be
featured in the magazine every three months, resulting in four print ads total within the
first year. This will allow us to capitalize on this method while keeping our costs
relatively low.
56
Figure 13
Second, our digital ads will consist of online banners. They will be located in websites,
search engine pages, and mobile banner ads. We will use Google Ads in order to get
our ads in front of the eyes of our target market.
Figure 14
57
Google will place our ads according to the user’s browsing history. MPACTED will place
ads on outdoor gear sites, outdoor blogs, travel sites, etc. Our banners will promote the
product through our direct channel.
Figure 15
ii. Personal Selling
The personal selling method will be utilized at the previously mentioned events but
holds the most importance at Mpactor’s Trade Show appearances. The Outdoor
Retailer Snow and Summer Markets provide the best opportunity for our sales team to
boost brand awareness amongst industry professionals, form relationships with existing
retailers and manufacturers, and unlock opportunities for partnerships with
complementary brands.
We will also feature a booth at the Outpost LA City Market. This unique event is a fusion
between a traditional trade show and informal street market. The interactive nature of
the booth combined with intriguing promotional material will aid in drawing in this
diverse audience.
58
Our sales will not only be extremely knowledgeable about the Big Mpact but also
passionate about the cause of our product. The movement towards environmental
awareness is much larger than our niche target market. Utilizing this method gives us a
greater opportunity to entice a large segment of consumers in addition to our niche
market.
iii. Event Promotion
We will be dedicating the largest portion of our marketing budget to this category of
promotions. As previously mentioned, in order to reinforce our dedication to protecting
the environment, we will set up promotional booths at Take 3 beach cleanup events.
Two in Florida and another California, two of our target geographic areas.
Event Calendar
Jan Feb Mar Apl May June July Aug Sep
Colorado
California
Florida
At these events, participants will have the opportunity to stop by the booth and test out
our trash compactors.
59
Figure 16
Due to the nature of our product and company mission, we believe that guerilla
marketing will serve as a great platform to drive consumer interest and conversion. We
will use trash collected from the Take 3 cleanup events to create a piece of artwork that
will be displayed on beaches in California and Florida respectively. A team will be hired
to create and install these pieces of artwork. Our goal is to increase awareness of
environmental issues.
60
Figure 17
iv. Sales Promotion
As an added incentive at Take 3 events, we will incorporate sales promotion through the
distribution of discounts. In order to encourage consumers to keep the surrounding
environment clean by using our product, we will utilize a tiered trash system to entice
engagement. Essentially, consumers will be encouraged to pick up 5 pieces of trash
along the coastline and bring it to the compactor to test out the product. In return for
their participation and activism, they will receive a discount code between 5-15%
depending on the size of the collected waste. These discounts will be acquired via QR
code and redeemable only through our company website. This method should pique
61
consumers interests and direct them back to our website, thus, driving direct sales while
increasing web traffic and earned media.
v. Publicity
We will announce the launch of the Big Mpact trash compactor in the trade publication,
Outdoor Industry News. This association facilitates several trade shows throughout the
year that we will be attending. The announcement will allow us to gain more traction
amongst potential vendors and future retail partners such as Cabela’s, Outdoor World,
and Yeti.
Our product announcements will be followed by a review from one of REI’s Co-op
Journal Writer’s. This online journal is closely tied in with the previously referenced print
magazine by REI. A quick browse through their website reveals their dedication to
providing customers with high-quality products, built to last, that they are passionate
about. By providing one of the co-op journal writers with our products, we allow them to
give an honest review with will help to increase consumers trust in our product.
Figure 18
62
Lastly, as a form of strong public relations, MPACTED will commit to donating 1% of our
sales from the Big Mpact to the initiative. We will be paid with environmental nonprofits
that share the same values in order to further our reach in protecting the planet (1% For
the Planet). This not reinforces goodwill amongst consumers but also helps up solidify
our purpose as a company, to provide consumers with a product that helps them make
a positive impact on the environment.
vi. Social Media Marketing
We will also incorporate paid social media marketing in the form of digital
advertisements across three platforms: Instagram, Facebook, and Google Ads. Similar
to our physical and print ads, these will features groups in social outdoor settings, with
the same slogan. We feel that this method will give us the greatest amount of reach
geographically.
Figure 19
63
Instagram has been identified as one of the strongest platforms for social engagement
at 4.21% (Katai). With 700 million users, we maximize the effectiveness of our targeted
ads. When considering the older half of our demographic, 40 to 55, Facebook will be
one of the most effective social media platforms in terms of reaching this segment. They
make up roughly 15% of total U.S. users, which is relatively high in comparison to other
platforms (Chen). Lastly, Google Ads provides the most flexible forms of measured web
traffic (Rampton). Google Ads can often be even more effective than SEO, which can
take months to take full effect.
In addition to utilizing paid media across both Instagram and Facebook, we will also
maintain company accounts that allow for further interaction amongst consumers. In
contrast to the traditional ads, our sales team will be able to directly respond to
consumers questions and comments.
E. Summary of Marketing Mix
We designed the distinctly unique, Big Mpact, in order to address a vital need in the
outdoor consumer segment; a way to enjoy an active lifestyle while reducing one’s own
impact on the surrounding environment. The added accessories line enables the user
to extend the life of their product and customize it to fit their specific needs.
Our combination of direct and indirect channels allows us to expand our reach while
we work towards increasing brand awareness. In addition, we are able to capitalize on
stronger direct earnings in the first year and begin to strengthen retailer relationships
for the future.
The Big Mpact is priced in such a way that it will specifically appeal to our niche
target market. Not every consumer will be interested in buying this product, but those
who do make a purchase will have values that align with our own company goals.
Our use of advertisements, personal selling, events promotions, and publicity all
reiterate our commitment to providing our consumers with a unique and high-quality
64
the product that synergizes their ability to reduce their environmental impact while maintaining
the active social lifestyle they enjoy. While the success of our company is highly
dependent on the number of sales, we also want to make actively work towards making
a positive impact. We believe that our marketing mix strongly ties these goals together.
65
66
7. One Year Timeline
J
A
N
F
E
B
M
A
R
A
P
R
M
A
Y
J
U
N
J
U
L
A
U
G
S
E
P
O
C
T
N
O
V
D
E
C
REI
Backpacker Ad
Social Media
Ads
Trade Show
Appearances
Take 3
Cleanups
Guerilla
Marketing
REI Co-op
Journal
Product Review
Trade
Publication
Announcement
67
68
8. Projected Profit and Loss Statement
Sales
Big Mpact $17,090,605.75
Swiveling Sled Feet $91,800
Additional Battery $51,000
3-Battery Carrying Case $30,600
Biodegradable Bags $12,000
Plastic Bags $10,000
Solar Panel USB Charger $56,100
Total Sales $17,342,105.75
COGS
Big Mpact $5,950,000
Swiveling Sled Feet $30,600
Additional Battery $10,200
3-Battery Carrying Case $5,100
Biodegradable Bags $3,000
Plastic Bags $2,000
Solar Panel USB Charger $20,400
Total COGS $6,021,300
Total Gross Profit $11,320,805.75
Operating Expense
Marketing Expense $343,707
1% for the Planet 1% of Total Profit
Overhead Costs $420,000
Total Expenses $763,707
Total Profit $10,557,098.75
Less 1% for the Planet 105,570.99
Year 1 Profit 10,451,527.76
69
Marketing Budget
Facebook Adsvii $4,690
Instagram Adsviii $5,033
Google Adsix $120,000
Backpacker Magazine Ads (4)x $66,468
Trade Publicationxi $22,500
Membership Fee $2,500
Advertisement Fee $20,000
Trade Shows (3) $45,910
Branded Tentxii $500
Sales Rep Accommodationsxiii $3,600
Sales Persons Total Wagesxiv $28,512
Salespersons Total Allowance $5,400
Signagexv $50
Banner Standxvi $100
Backdropxvii $160
Flightxviii $1,080
Shipment of Suppliesxix $1,950
Total Entry Feesxx $4,560
Take 3 Cleanup $34,104
Branded Tent $500
Sales Rep Accommodations $5,040
Sales Persons Total Wages $21,384
Signage $50
Banner Stand $100
Backdrop $160
Flight $2,970
Shipment of Supplies $3,900
Guerilla Marketingxxi $45,000
Total $343,707
70
71
References
1% For the Planet. Our Approach. Retrieved April 5, 2019, from
http://www.onepercentfortheplanet.org/what-we-do/our-approach
10' x 15' Deluxe Pop-Up Party Tent - Black. (2019). Retrieved from
https://www.thegazebostore.com/deluxe-pop-up-party-tent-black-10x15.html?
150QT Elite Cooler. (n.d.). Retrieved from
https://www.pelican.com/us/en/product/coolers/elite/150qt
2017 National Life-Saving Statistics. (n.d.). Retrieved from
http://arc.usla.org/Statistics/current.asp?Statistics=Current
2019 Outpost LA City Market - Weekend of June 1st! (2019, April 04). Retrieved from
https://outposttrade.com/2019-outpost-la-city-market-weekend-of-june-1st/
Arvesen, A. (2018, April 20). Study: The greenest states in the U.S. Retrieved from
https://www.snewsnet.com/news/greenest-states-2018
Average Salesperson / Salesman / Saleswoman Salary. (2019). Retrieved from
https://www.payscale.com/research/US/Job=Salesperson_/_Salesman_/_Salesw
oman/Salary
Banners | Backdrops | Step and Repeat | Fabric Banners. (2019). Retrieved from
https://www.bingbanners.com/?gclid=Cj0KCQjw2IrmBRCJARIsAJZDdxAM2q9W
1dIlR7qrk19ZIgZw5ymBYee7FmT7vuExJjCrF42QbacNKOIaAnAUEALw_wcB
Battery carrying case For Nintendo Switch- accessories and charging dock at the Same
Time - Must Have games bundle and controller 12000 mAh. (2018). Retrieved
72
from https://www.bestorx.com/battery-carry-case-for-nintendo-switch-organize-
and-charging-at-the-same-time-must-have-accessory.html
Bond, R. L. (2008, May 25). Finding the Right Price for Your Retail Products. Retrieved
April 11, 2019, from https://www.entrepreneur.com/article/193986
Bulo, G. (2018, April 6). Retrieved from https://www.socialmediagids.com/blog/social-
media-advertising
Bureau of Transportation Statistics. (n.d.). Retrieved from
https://www.transtats.bts.gov/AIRFARES/
Chen, J. (2019, April 23). 15 Facebook stats every marketer should know for 2019.
Retrieved from https://sproutsocial.com/insights/facebook-stats-for-
marketers/#FB-demog
Collier, E., & Esplin, B. (2018). 10 Ways to Create Less Trash at Camp. Retrieved April
3, 2019, from https://lnt.org/camp-trash-challenge
Ctuttle. (2016, May 13). Average Hotel Costs Continue to Climb, Except in Two Major
Cities – Chicago and New York City. Retrieved from
https://travelleaderscorporate.com/average-hotel-costs-continue-to-climb-except-
in-two-major-cities-chicago-and-new-york-city/
DannyQuigley, & Frankenstein. (2019, March 12). Tundra 210. Retrieved April 16, 2019,
from https://www.yeti.com/en_US/hard-coolers/tundra-210-
cooler/YT210.html?dwvar_YT210_color=white&cgid=hard-coolers#start=1
EPA. (2018, October 26). Facts and Figures About Materials, Waste, and Recycling.
Retrieved April 5, 2019, from https://www.epa.gov/facts-and-figures-about-
73
materials-waste-and-recycling/national-overview-facts-and-figures-
materials#main-content
Ferguson, G. (2015). Cooler Market. Retrieved from https://gracenferguson.com/wp-
content/uploads/2015/07/Market-Research.pdf
Fredin, T. (2004, August). Minnesota Report Card on Environmental Literacy. Retrieved
from https://www.pca.state.mn.us/sites/default/files/p-ee5-06.pdf
Gesenhues, A. (2018, February 23). Search outpaced social for referral traffic last year,
driving 35% of site visits vs social's 26% share of visits. Retrieved from
https://searchengineland.com/search-makes-comeback-2017-driving-35-traffic-
publishers-vs-26-sent-social-networks-292834
Green Boating Guide. (2017, July 18). Waste Disposal & Recycling. Retrieved April 3,
2019, from http://www.sailorsforthesea.org/programs/green-boating-guide/waste-
disposal-recycling
International Air Freight: Shipping Charges, Rates & Cost. (2019). Retrieved from
https://www.freightos.com/freight-resources/air-freight-rates-cost-prices/
Katai, R. (2019, April 01). Here are Four Benefits to Advertising on Instagram. Retrieved
from https://nealschaffer.com/4-benefits-advertising-instagram/
Kenmore 14729 Trash Compactor. (n.d.). Retrieved from
https://www.sears.com/kenmore-1.4-cu-ft-trash-compactor-black/p-
02214729000P?ef_id=Cj0KCQjw2IrmBRCJARIsAJZDdxAFCQFEDPvUzK64L4L
Neqk_y_7ttVwNaMJtWmVb_E-
exZ1PYkrqTXYaAvjGEALw_wcB:G:s&s_kwcid=AL!8592!3!317857264717!!!g!37
7725235266!&sid=IDx01192011x000001x1651398415&utm_campaign=9028926
&utm_group=62168417446-317857264717&utm_term=pla-
74
377725235266&gclid=Cj0KCQjw2IrmBRCJARIsAJZDdxAFCQFEDPvUzK64L4L
Neqk_y_7ttVwNaMJtWmVb_E-exZ1PYkrqTXYaAvjGEALw_wcB
Kobliski, K. J. (2006, January 17). Magazine Ads. Retrieved from
https://www.entrepreneur.com/article/83094
Learn how much it costs to Make and Install Signs. (n.d.). Retrieved from
https://www.homeadvisor.com/cost/safety-and-security/make-and-install-signs/
Leins, C. (2018, April 18). These States Are the Best at Protecting You From Pollution.
Retrieved from https://www.usnews.com/news/best-states/slideshows/the-10-
states-with-the-best-natural-environment?slide=11
Linda, & D., K. (2019). 2.5 gal Certified Compostable Trash Bags 16"x17". Retrieved
from https://greenpaperproducts.com/biodegradable-trash-bags-kitchen-
g100.aspx?
MarketWatch. (2019, January 14). Global Trash Compactors Market To Incur Rapid
Extension at a CAGR of 3.8% During 2019-2028. Retrieved April 4, 2019, from
https://www.marketwatch.com/press-release/global-trash-compactors-market-to-
incur-rapid-extension-at-a-cagr-of-38-during-2019-2028-2019-01-14
Mintel Academic. (2012, April). Marketing to the Green Consumer - US - April 2012.
Retrieved April 2, 2019, from
http://academic.mintel.com.unco.idm.oclc.org/display/619486/?highlight
McGee, E. (2017, July 25). 2017 State of Barbeque Industries Retrieved from
https://www.hpba.org/Resources/PressRoom/ID/516/2017-State-of-the-
Barbecue-Industry-HPBAs-Consumer-Survey-Reveals-Grilling-and-Barbecuing-
Is-a-Growing-Year-Round-Lifestyle
75
Monosoff, T. (2006, November 27). Demystifying Profit Margins and Markups. Retrieved
April 16, 2019, from https://www.entrepreneur.com/article/170964
Nicholson, J. (2015, April 15). Nielsen Report: 32 Million People Attend At Least One
Festival. Retrieved from https://musicrow.com/2015/04/nielsen-report-32-million-
people-attend-at-least-one-festival/
Outdoor Retailer. (2019, April 10). Retrieved from https://www.outdoorretailer.com/
Outermart, 1.2 Garbage Bag (2019). Retrieved from
https://outermart.com/products/cand-12-gallon-clear-garbage-bags-110-
counts?gclid=Cj0KCQjw2IrmBRCJARIsAJZDdxB0BWpzOmmNRjVMqxOZQKkA
2X_39NVV3G16k-gVPnR-pAtMyC4fvQsaAk5cEALw_wcB
Plastic Pollution Coalition. (2018, October 4). U.S. Plastic Recycling Rate Expected to
Drop to 4.4% in 2018. Retrieved April 7, 2019, from
https://www.plasticpollutioncoalition.org/pft/2018/10/4/us-plastic-recycling-rate-
projected-to-drop-to-44-in-2018
Quantifying CreativityHow Any Artist Can Price Their Art for Sale. (n.d.). Retrieved from
https://www.artbusiness.com/artists-how-to-price-your-art-for-sale.html
Rampton, J. (2014, March 30). 5 Reasons Your Business Should Use AdWords.
Retrieved from https://www.forbes.com/sites/johnrampton/2014/03/29/5-reasons-
your-business-should-use-adwords/#2344f88544a0
REI. (2019). About Us. Retrieved from https://www.rei.com/
Rei. (2019). Goal Zero Nomad 7 Plus Solar Panel | REI Co-op. Retrieved from
https://www.rei.com/product/123283/goal-zero-nomad-7-plus-solar-panel?
76
RepmanGearhead, J., GouldenGearhead, A., EadsGearhead, W., & Quitiquit, A. (2019,
April 17). Fatty Ski. Retrieved from https://www.backcountry.com/k2-fatty-ski?
Roberts, A. (2016, September 01). Tailgating by the numbers. Retrieved from
https://www.cnn.com/2015/11/25/living/tailgating-by-the-numbers/index.html
Roll Up Banner Stands. (n.d.). Retrieved from
https://www.buildasign.com/producttype/retractablebanners/Roll-Up-Banner-
Stands?
Rys, D. (2018, November 15). Nielsen Releases In-Depth Statistics on Live Music
Behavior: 52 Percent of Americans Attend Shows. Retrieved from
https://www.billboard.com/articles/business/8485063/nielsen-releases-in-depth-
statistics-live-music-behavior-360-report
Shewan, D. (2018, November 8). How Much Does Google Ads Cost? Retrieved from
https://www.wordstream.com/blog/ws/2015/05/21/how-much-does-adwords-cost
Statista. (2019, February). Sports & Outdoor Market. Retrieved from
https://www.statista.com/outlook/259/109/sports-outdoor/united-states
Take 3 - About. (n.d.). Retrieved from https://www.take3.org/about/
Teare, & MarkR. (2019, April 16). Powerstation 20,000mAh High Capacity Power Bank.
Retrieved from http://www.mophie.com/shop/powerstation-XXL?
Thomas, G. (2019, March 20). Making the Most of Your Money with Instagram Ads.
Retrieved from https://www.wholewhale.com/tips/making-the-most-of-your-
money-with-instagram-ads/
77
Trade Show Booths & Conventions FAQ. Exhibitsusa. (2019). Retrieved from
http://www.exhibitsusa.com/trade-show-booths-and-conventions-FAQ
Ulloa, N. (2015, April 14). 32 Million People in the U.S. Attend Music Festivals.
Retrieved from https://www.digitalmusicnews.com/2015/04/14/32-million-people-
in-the-u-s-attend-music-festivals/
U.S. Census Bureau, Population Division. (2018, June). Annual Estimates of the
Resident Population for Selected Age Groups by Sex for the United States,
States, Counties and Puerto Rico Commonwealth and Minicipios. Retrieved from
https://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src
=bkmk
Vo, L. T. (2012, July 16). What Americans Earn. Retrieved from
https://www.npr.org/sections/money/2012/07/16/156688596/what-americans-
earn
Worldometers. (2019, April 23). U.S Population. Retrieved from
https://www.worldometers.info/world-population/us-population/
WHO IS THE CAMPING CONSUMER? (2014, February 04). Retrieved April 11, 2019,
from https://outdoorindustry.org/wp-
content/uploads/2016/05/ConsumerVue_CampersIG_final.pdf
Wight Hat Ltd. (n.d.). Volume Converter. Retrieved from Metric Conversions:
https://www.metric-conversions.org/volume/cubic-inches-to-liters.html
Zhuo, T. (2016, March 7). 5 Strategies to Effectively Determine Your Market Size.
Retrieved from https://www.entrepreneur.com/article/270853
78
Endnotes (Pricing References)
i Repman, 2019, https://www.backcountry.com/k2-fatty-ski?
ii Teare, 2019, http://www.mophie.com/shop/powerstation-XXL?
iii Battery carrying case, 2018, https://www.bestorx.com/battery-carry-case-for-nintendo-switch-organize-
and-charging-at-the-same-time-must-have-accessory.html
iv Linda, 2019, https://greenpaperproducts.com/biodegradable-trash-bags-kitchen-g100.aspx?
v Outermart, 2019, https://outermart.com/products/cand-12-gallon-clear-garbage-bags-110-counts?
vi Rei, 2019, https://www.rei.com/product/123283/goal-zero-nomad-7-plus-solar-panel?
vii
Bulo, 2018, https://www.socialmediagids.com/blog/social-media-advertising
viii
Thomas, 2019, https://www.wholewhale.com/tips/making-the-most-of-your-money-with-
instagram-ads/
ix
Shewan, 2018, https://www.wordstream.com/blog/ws/2015/05/21/how-much-does-adwords-
cost
x
Kobliski, 2006, https://www.entrepreneur.com/article/83094
xi
Kobliski, 2006, https://www.entrepreneur.com/article/83094
xii
10 x 15 Deluxe Pop Up, 2019, https://www.thegazebostore.com/deluxe-pop-up-party-tent-
black-10x15.html?
xiii
Ctuttle, 2016, https://travelleaderscorporate.com/average-hotel-costs-continue-to-climb-
except-in-two-major-cities-chicago-and-new-york-city/
xiv
Average Salesperson, 2019,
https://www.payscale.com/research/US/Job=Salesperson_/_Salesman_/_Saleswoman/Salary
xv
Learn how much it costs to Make and Install Signs, 2019,
https://www.homeadvisor.com/cost/safety-and-security/make-and-install-signs/
xvi
Roll Up Banner Stands, 2019,
https://www.buildasign.com/producttype/retractablebanners/Roll-Up-Banner-Stands?
xvii
Banners, 2019, https://www.bingbanners.com/?
xviii
Bureau of Transportation Statistics, 2019, https://www.transtats.bts.gov/AIRFARES/
xix
International Air Freight: Shipping Charges, Rates & Cost, 2019,
https://www.freightos.com/freight-resources/air-freight-rates-cost-prices/
xx
Trade Show Booths, 2019, http://www.exhibitsusa.com/trade-show-booths-and-conventions-
FAQ
xxi
Quantifying CreativityHow Any Artist Can Price Their Art for Sale. (n.d.). Retrieved from
https://www.artbusiness.com/artists-how-to-price-your-art-for-sale.html

More Related Content

What's hot

A Presentation regarding Launching Of a New Product in the Market
A Presentation regarding Launching Of a New Product in the MarketA Presentation regarding Launching Of a New Product in the Market
A Presentation regarding Launching Of a New Product in the MarketShekhar Jyoti Das
 
Walls STRATEGEIC MODEL
Walls STRATEGEIC MODELWalls STRATEGEIC MODEL
Walls STRATEGEIC MODELMadiha Aslam
 
Tide Detergent Market Analysis
Tide Detergent Market AnalysisTide Detergent Market Analysis
Tide Detergent Market AnalysisSHUBHAM MORGAONKAR
 
Colgate kitchen entrees Irish market 02-08-13
Colgate kitchen entrees   Irish market 02-08-13Colgate kitchen entrees   Irish market 02-08-13
Colgate kitchen entrees Irish market 02-08-13Audrey Jaspart
 
FMCG / CPG Consumer Trends 2015 - Product Innovations of the Year
FMCG / CPG Consumer Trends 2015 - Product Innovations of the YearFMCG / CPG Consumer Trends 2015 - Product Innovations of the Year
FMCG / CPG Consumer Trends 2015 - Product Innovations of the YearBrand Genetics
 
Tide Brand Dossier
Tide Brand DossierTide Brand Dossier
Tide Brand DossierNahid Anjum
 
P & G ( Procter & Gamble ) Tide :- Marketing Management
P & G ( Procter & Gamble ) Tide :- Marketing ManagementP & G ( Procter & Gamble ) Tide :- Marketing Management
P & G ( Procter & Gamble ) Tide :- Marketing ManagementSanchit
 
Ariel Global Marketing Strategy
Ariel Global Marketing StrategyAriel Global Marketing Strategy
Ariel Global Marketing StrategyRyan Hickey
 
Kelloggs
Kelloggs Kelloggs
Kelloggs UCB
 
HERB-A- LICIOUS
HERB-A- LICIOUSHERB-A- LICIOUS
HERB-A- LICIOUSRomy Gakh
 
Coca cola brand positioning
Coca cola brand positioning Coca cola brand positioning
Coca cola brand positioning Hiba Nasir
 
Columbia Sportswear Branding Project
Columbia Sportswear Branding ProjectColumbia Sportswear Branding Project
Columbia Sportswear Branding Projectkwhittaker1
 
International Business Strategy Coca-Cola.
International Business Strategy Coca-Cola.International Business Strategy Coca-Cola.
International Business Strategy Coca-Cola.Sanjay Vaid (MLE℠)
 

What's hot (17)

A Presentation regarding Launching Of a New Product in the Market
A Presentation regarding Launching Of a New Product in the MarketA Presentation regarding Launching Of a New Product in the Market
A Presentation regarding Launching Of a New Product in the Market
 
Walls company
Walls companyWalls company
Walls company
 
Walls STRATEGEIC MODEL
Walls STRATEGEIC MODELWalls STRATEGEIC MODEL
Walls STRATEGEIC MODEL
 
Tide Detergent Market Analysis
Tide Detergent Market AnalysisTide Detergent Market Analysis
Tide Detergent Market Analysis
 
Colgate kitchen entrees Irish market 02-08-13
Colgate kitchen entrees   Irish market 02-08-13Colgate kitchen entrees   Irish market 02-08-13
Colgate kitchen entrees Irish market 02-08-13
 
Imran group
Imran groupImran group
Imran group
 
FMCG / CPG Consumer Trends 2015 - Product Innovations of the Year
FMCG / CPG Consumer Trends 2015 - Product Innovations of the YearFMCG / CPG Consumer Trends 2015 - Product Innovations of the Year
FMCG / CPG Consumer Trends 2015 - Product Innovations of the Year
 
Tide
TideTide
Tide
 
Tide Brand Dossier
Tide Brand DossierTide Brand Dossier
Tide Brand Dossier
 
P & G ( Procter & Gamble ) Tide :- Marketing Management
P & G ( Procter & Gamble ) Tide :- Marketing ManagementP & G ( Procter & Gamble ) Tide :- Marketing Management
P & G ( Procter & Gamble ) Tide :- Marketing Management
 
Coca Cola
Coca ColaCoca Cola
Coca Cola
 
Ariel Global Marketing Strategy
Ariel Global Marketing StrategyAriel Global Marketing Strategy
Ariel Global Marketing Strategy
 
Kelloggs
Kelloggs Kelloggs
Kelloggs
 
HERB-A- LICIOUS
HERB-A- LICIOUSHERB-A- LICIOUS
HERB-A- LICIOUS
 
Coca cola brand positioning
Coca cola brand positioning Coca cola brand positioning
Coca cola brand positioning
 
Columbia Sportswear Branding Project
Columbia Sportswear Branding ProjectColumbia Sportswear Branding Project
Columbia Sportswear Branding Project
 
International Business Strategy Coca-Cola.
International Business Strategy Coca-Cola.International Business Strategy Coca-Cola.
International Business Strategy Coca-Cola.
 

Similar to Marketing Strategies Marketing Plan

Pakaging Design and Consulting
Pakaging Design and ConsultingPakaging Design and Consulting
Pakaging Design and Consultingrajatkedia81
 
Green marketing
Green  marketing  Green  marketing
Green marketing Komal Goyal
 
Patagoniappt 13318679342123 phpapp02 120315222023 phpapp02
Patagoniappt 13318679342123 phpapp02 120315222023 phpapp02Patagoniappt 13318679342123 phpapp02 120315222023 phpapp02
Patagoniappt 13318679342123 phpapp02 120315222023 phpapp02Mô...Moema Anita Conceição
 
Mike Doyle\'s Work
Mike Doyle\'s WorkMike Doyle\'s Work
Mike Doyle\'s Worktkpro2
 
Sustainability: Ecology & Economy // Snapshot Series
Sustainability: Ecology & Economy // Snapshot Series Sustainability: Ecology & Economy // Snapshot Series
Sustainability: Ecology & Economy // Snapshot Series LHBS
 
2016 consumer trend report (sample)
2016 consumer trend report (sample)2016 consumer trend report (sample)
2016 consumer trend report (sample)Brent James
 
Plastipak International Inc. at International Career Day 2013 in Milan
Plastipak International Inc. at International Career Day 2013 in MilanPlastipak International Inc. at International Career Day 2013 in Milan
Plastipak International Inc. at International Career Day 2013 in MilanJobadvisor
 
Running Head NEW PRODUCT LAUNCH MARKETING PLAN, PART II1 NE.docx
Running Head NEW PRODUCT LAUNCH MARKETING PLAN, PART II1 NE.docxRunning Head NEW PRODUCT LAUNCH MARKETING PLAN, PART II1 NE.docx
Running Head NEW PRODUCT LAUNCH MARKETING PLAN, PART II1 NE.docxcharisellington63520
 
Weatherchem What We Are All About
Weatherchem What We Are All AboutWeatherchem What We Are All About
Weatherchem What We Are All Aboutfrolovalevi
 
Design Thinking Process - Project Report
Design Thinking Process - Project ReportDesign Thinking Process - Project Report
Design Thinking Process - Project ReportNamrata Nadkarni
 
AG PolyPacks Pvt Ltd
AG PolyPacks Pvt LtdAG PolyPacks Pvt Ltd
AG PolyPacks Pvt LtdAdityaDaga11
 
EIA2018Portugal - Matin Ebrahimchel - How to Successfully Ramp Up an Incubato...
EIA2018Portugal - Matin Ebrahimchel - How to Successfully Ramp Up an Incubato...EIA2018Portugal - Matin Ebrahimchel - How to Successfully Ramp Up an Incubato...
EIA2018Portugal - Matin Ebrahimchel - How to Successfully Ramp Up an Incubato...European Innovation Academy
 
Francesco Fullone - Life Cycle Design e Circular Economy: un caso reale
Francesco Fullone - Life Cycle Design e Circular Economy: un caso realeFrancesco Fullone - Life Cycle Design e Circular Economy: un caso reale
Francesco Fullone - Life Cycle Design e Circular Economy: un caso realeLivia Francesca Caruso
 
[Interbrand] Best global brands 2011
[Interbrand] Best global brands 2011[Interbrand] Best global brands 2011
[Interbrand] Best global brands 2011Viet Le
 

Similar to Marketing Strategies Marketing Plan (20)

Pakaging Design and Consulting
Pakaging Design and ConsultingPakaging Design and Consulting
Pakaging Design and Consulting
 
Green marketing
Green  marketing  Green  marketing
Green marketing
 
Patagoniappt 13318679342123 phpapp02 120315222023 phpapp02
Patagoniappt 13318679342123 phpapp02 120315222023 phpapp02Patagoniappt 13318679342123 phpapp02 120315222023 phpapp02
Patagoniappt 13318679342123 phpapp02 120315222023 phpapp02
 
Mike Doyle\'s Work
Mike Doyle\'s WorkMike Doyle\'s Work
Mike Doyle\'s Work
 
Sustainability: Ecology & Economy // Snapshot Series
Sustainability: Ecology & Economy // Snapshot Series Sustainability: Ecology & Economy // Snapshot Series
Sustainability: Ecology & Economy // Snapshot Series
 
2016 consumer trend report (sample)
2016 consumer trend report (sample)2016 consumer trend report (sample)
2016 consumer trend report (sample)
 
Rethinking Packaging-Anthony Rossi, TerraCycle & Loop
Rethinking Packaging-Anthony Rossi, TerraCycle & LoopRethinking Packaging-Anthony Rossi, TerraCycle & Loop
Rethinking Packaging-Anthony Rossi, TerraCycle & Loop
 
Plastipak International Inc. at International Career Day 2013 in Milan
Plastipak International Inc. at International Career Day 2013 in MilanPlastipak International Inc. at International Career Day 2013 in Milan
Plastipak International Inc. at International Career Day 2013 in Milan
 
Patagonia Ppt
Patagonia PptPatagonia Ppt
Patagonia Ppt
 
Patagonia Ppt
Patagonia PptPatagonia Ppt
Patagonia Ppt
 
Running Head NEW PRODUCT LAUNCH MARKETING PLAN, PART II1 NE.docx
Running Head NEW PRODUCT LAUNCH MARKETING PLAN, PART II1 NE.docxRunning Head NEW PRODUCT LAUNCH MARKETING PLAN, PART II1 NE.docx
Running Head NEW PRODUCT LAUNCH MARKETING PLAN, PART II1 NE.docx
 
Weatherchem What We Are All About
Weatherchem What We Are All AboutWeatherchem What We Are All About
Weatherchem What We Are All About
 
Design Thinking Process - Project Report
Design Thinking Process - Project ReportDesign Thinking Process - Project Report
Design Thinking Process - Project Report
 
AG PolyPacks Pvt Ltd
AG PolyPacks Pvt LtdAG PolyPacks Pvt Ltd
AG PolyPacks Pvt Ltd
 
EIA2018Portugal - Matin Ebrahimchel - How to Successfully Ramp Up an Incubato...
EIA2018Portugal - Matin Ebrahimchel - How to Successfully Ramp Up an Incubato...EIA2018Portugal - Matin Ebrahimchel - How to Successfully Ramp Up an Incubato...
EIA2018Portugal - Matin Ebrahimchel - How to Successfully Ramp Up an Incubato...
 
Francesco Fullone - Life Cycle Design e Circular Economy: un caso reale
Francesco Fullone - Life Cycle Design e Circular Economy: un caso realeFrancesco Fullone - Life Cycle Design e Circular Economy: un caso reale
Francesco Fullone - Life Cycle Design e Circular Economy: un caso reale
 
Fashion business plan
Fashion business planFashion business plan
Fashion business plan
 
Business Plan
Business PlanBusiness Plan
Business Plan
 
Basura cero
Basura ceroBasura cero
Basura cero
 
[Interbrand] Best global brands 2011
[Interbrand] Best global brands 2011[Interbrand] Best global brands 2011
[Interbrand] Best global brands 2011
 

More from Lauren A Nash

MPACTED Sales Presentation
MPACTED Sales PresentationMPACTED Sales Presentation
MPACTED Sales PresentationLauren A Nash
 
Lauren A Nash Social Media Marketing Final Project
Lauren A Nash Social Media Marketing Final ProjectLauren A Nash Social Media Marketing Final Project
Lauren A Nash Social Media Marketing Final ProjectLauren A Nash
 
Marketing Research Final Report: Ka Ko-Jo's
Marketing Research Final Report: Ka Ko-Jo'sMarketing Research Final Report: Ka Ko-Jo's
Marketing Research Final Report: Ka Ko-Jo'sLauren A Nash
 
NSAC 2018 Team 352 Final Plans Book: Ocean Spray
NSAC 2018 Team 352 Final Plans Book: Ocean SprayNSAC 2018 Team 352 Final Plans Book: Ocean Spray
NSAC 2018 Team 352 Final Plans Book: Ocean SprayLauren A Nash
 
Adulting Since 1852 Advertising Campaign
Adulting Since 1852 Advertising CampaignAdulting Since 1852 Advertising Campaign
Adulting Since 1852 Advertising CampaignLauren A Nash
 
Business Communication Final Presentation: Casa Bonita
Business Communication Final Presentation: Casa BonitaBusiness Communication Final Presentation: Casa Bonita
Business Communication Final Presentation: Casa BonitaLauren A Nash
 

More from Lauren A Nash (6)

MPACTED Sales Presentation
MPACTED Sales PresentationMPACTED Sales Presentation
MPACTED Sales Presentation
 
Lauren A Nash Social Media Marketing Final Project
Lauren A Nash Social Media Marketing Final ProjectLauren A Nash Social Media Marketing Final Project
Lauren A Nash Social Media Marketing Final Project
 
Marketing Research Final Report: Ka Ko-Jo's
Marketing Research Final Report: Ka Ko-Jo'sMarketing Research Final Report: Ka Ko-Jo's
Marketing Research Final Report: Ka Ko-Jo's
 
NSAC 2018 Team 352 Final Plans Book: Ocean Spray
NSAC 2018 Team 352 Final Plans Book: Ocean SprayNSAC 2018 Team 352 Final Plans Book: Ocean Spray
NSAC 2018 Team 352 Final Plans Book: Ocean Spray
 
Adulting Since 1852 Advertising Campaign
Adulting Since 1852 Advertising CampaignAdulting Since 1852 Advertising Campaign
Adulting Since 1852 Advertising Campaign
 
Business Communication Final Presentation: Casa Bonita
Business Communication Final Presentation: Casa BonitaBusiness Communication Final Presentation: Casa Bonita
Business Communication Final Presentation: Casa Bonita
 

Recently uploaded

What are the 4 characteristics of CTAs that convert?
What are the 4 characteristics of CTAs that convert?What are the 4 characteristics of CTAs that convert?
What are the 4 characteristics of CTAs that convert?Juan Pineda
 
Inbound Marekting 2.0 - The Paradigm Shift in Marketing | Axon Garside
Inbound Marekting 2.0 - The Paradigm Shift in Marketing | Axon GarsideInbound Marekting 2.0 - The Paradigm Shift in Marketing | Axon Garside
Inbound Marekting 2.0 - The Paradigm Shift in Marketing | Axon Garsiderobwhite630290
 
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing StrategyDIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing StrategySouvikRay24
 
How To Utilize Calculated Properties in your HubSpot Setup
How To Utilize Calculated Properties in your HubSpot SetupHow To Utilize Calculated Properties in your HubSpot Setup
How To Utilize Calculated Properties in your HubSpot Setupssuser4571da
 
Word Count for Writers: Examples of Word Counts for Sample Genres
Word Count for Writers: Examples of Word Counts for Sample GenresWord Count for Writers: Examples of Word Counts for Sample Genres
Word Count for Writers: Examples of Word Counts for Sample GenresLisa M. Masiello
 
BrightonSEO - Addressing SEO & CX - CMDL - Apr 24 .pptx
BrightonSEO -  Addressing SEO & CX - CMDL - Apr 24 .pptxBrightonSEO -  Addressing SEO & CX - CMDL - Apr 24 .pptx
BrightonSEO - Addressing SEO & CX - CMDL - Apr 24 .pptxcollette15
 
McDonald's: A Journey Through Time (PPT)
McDonald's: A Journey Through Time (PPT)McDonald's: A Journey Through Time (PPT)
McDonald's: A Journey Through Time (PPT)DEVARAJV16
 
2024 SEO Trends for Business Success (WSA)
2024 SEO Trends for Business Success (WSA)2024 SEO Trends for Business Success (WSA)
2024 SEO Trends for Business Success (WSA)Jomer Gregorio
 
VIP Call Girls In Green Park 9654467111 Escorts Service
VIP Call Girls In Green Park 9654467111 Escorts ServiceVIP Call Girls In Green Park 9654467111 Escorts Service
VIP Call Girls In Green Park 9654467111 Escorts ServiceSapana Sha
 
TAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
TAM AdEx 2023 Cross Media Advertising Recap - Auto SectorTAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
TAM AdEx 2023 Cross Media Advertising Recap - Auto SectorSocial Samosa
 
DIGITAL MARKETING STRATEGY_INFOGRAPHIC IMAGE.pdf
DIGITAL MARKETING STRATEGY_INFOGRAPHIC IMAGE.pdfDIGITAL MARKETING STRATEGY_INFOGRAPHIC IMAGE.pdf
DIGITAL MARKETING STRATEGY_INFOGRAPHIC IMAGE.pdfmayanksharma0441
 
pptx.marketing strategy of tanishq. pptx
pptx.marketing strategy of tanishq. pptxpptx.marketing strategy of tanishq. pptx
pptx.marketing strategy of tanishq. pptxarsathsahil
 
Call Girls in Lajpat Nagar Delhi 💯Call Us 🔝8264348440🔝
Call Girls in Lajpat Nagar Delhi 💯Call Us 🔝8264348440🔝Call Girls in Lajpat Nagar Delhi 💯Call Us 🔝8264348440🔝
Call Girls in Lajpat Nagar Delhi 💯Call Us 🔝8264348440🔝soniya singh
 
Mastering SEO in the Evolving AI-driven World
Mastering SEO in the Evolving AI-driven WorldMastering SEO in the Evolving AI-driven World
Mastering SEO in the Evolving AI-driven WorldScalenut
 
Content Marketing For A Travel Website On The Examples Of: Booking.com; TripA...
Content Marketing For A Travel Website On The Examples Of: Booking.com; TripA...Content Marketing For A Travel Website On The Examples Of: Booking.com; TripA...
Content Marketing For A Travel Website On The Examples Of: Booking.com; TripA...robertpresz7
 
The Skin Games 2024 25 - Sponsorship Deck
The Skin Games 2024 25 - Sponsorship DeckThe Skin Games 2024 25 - Sponsorship Deck
The Skin Games 2024 25 - Sponsorship DeckToluwanimi Balogun
 
marketing strategy of tanishq word PPROJECT.pdf
marketing strategy of tanishq word PPROJECT.pdfmarketing strategy of tanishq word PPROJECT.pdf
marketing strategy of tanishq word PPROJECT.pdfarsathsahil
 
SORA AI: Will It Be the Future of Video Creation?
SORA AI: Will It Be the Future of Video Creation?SORA AI: Will It Be the Future of Video Creation?
SORA AI: Will It Be the Future of Video Creation?Searchable Design
 
Best Persuasive selling skills presentation.pptx
Best Persuasive selling skills  presentation.pptxBest Persuasive selling skills  presentation.pptx
Best Persuasive selling skills presentation.pptxMasterPhil1
 
Cost-effective tactics for navigating CPC surges
Cost-effective tactics for navigating CPC surgesCost-effective tactics for navigating CPC surges
Cost-effective tactics for navigating CPC surgesPushON Ltd
 

Recently uploaded (20)

What are the 4 characteristics of CTAs that convert?
What are the 4 characteristics of CTAs that convert?What are the 4 characteristics of CTAs that convert?
What are the 4 characteristics of CTAs that convert?
 
Inbound Marekting 2.0 - The Paradigm Shift in Marketing | Axon Garside
Inbound Marekting 2.0 - The Paradigm Shift in Marketing | Axon GarsideInbound Marekting 2.0 - The Paradigm Shift in Marketing | Axon Garside
Inbound Marekting 2.0 - The Paradigm Shift in Marketing | Axon Garside
 
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing StrategyDIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
 
How To Utilize Calculated Properties in your HubSpot Setup
How To Utilize Calculated Properties in your HubSpot SetupHow To Utilize Calculated Properties in your HubSpot Setup
How To Utilize Calculated Properties in your HubSpot Setup
 
Word Count for Writers: Examples of Word Counts for Sample Genres
Word Count for Writers: Examples of Word Counts for Sample GenresWord Count for Writers: Examples of Word Counts for Sample Genres
Word Count for Writers: Examples of Word Counts for Sample Genres
 
BrightonSEO - Addressing SEO & CX - CMDL - Apr 24 .pptx
BrightonSEO -  Addressing SEO & CX - CMDL - Apr 24 .pptxBrightonSEO -  Addressing SEO & CX - CMDL - Apr 24 .pptx
BrightonSEO - Addressing SEO & CX - CMDL - Apr 24 .pptx
 
McDonald's: A Journey Through Time (PPT)
McDonald's: A Journey Through Time (PPT)McDonald's: A Journey Through Time (PPT)
McDonald's: A Journey Through Time (PPT)
 
2024 SEO Trends for Business Success (WSA)
2024 SEO Trends for Business Success (WSA)2024 SEO Trends for Business Success (WSA)
2024 SEO Trends for Business Success (WSA)
 
VIP Call Girls In Green Park 9654467111 Escorts Service
VIP Call Girls In Green Park 9654467111 Escorts ServiceVIP Call Girls In Green Park 9654467111 Escorts Service
VIP Call Girls In Green Park 9654467111 Escorts Service
 
TAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
TAM AdEx 2023 Cross Media Advertising Recap - Auto SectorTAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
TAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
 
DIGITAL MARKETING STRATEGY_INFOGRAPHIC IMAGE.pdf
DIGITAL MARKETING STRATEGY_INFOGRAPHIC IMAGE.pdfDIGITAL MARKETING STRATEGY_INFOGRAPHIC IMAGE.pdf
DIGITAL MARKETING STRATEGY_INFOGRAPHIC IMAGE.pdf
 
pptx.marketing strategy of tanishq. pptx
pptx.marketing strategy of tanishq. pptxpptx.marketing strategy of tanishq. pptx
pptx.marketing strategy of tanishq. pptx
 
Call Girls in Lajpat Nagar Delhi 💯Call Us 🔝8264348440🔝
Call Girls in Lajpat Nagar Delhi 💯Call Us 🔝8264348440🔝Call Girls in Lajpat Nagar Delhi 💯Call Us 🔝8264348440🔝
Call Girls in Lajpat Nagar Delhi 💯Call Us 🔝8264348440🔝
 
Mastering SEO in the Evolving AI-driven World
Mastering SEO in the Evolving AI-driven WorldMastering SEO in the Evolving AI-driven World
Mastering SEO in the Evolving AI-driven World
 
Content Marketing For A Travel Website On The Examples Of: Booking.com; TripA...
Content Marketing For A Travel Website On The Examples Of: Booking.com; TripA...Content Marketing For A Travel Website On The Examples Of: Booking.com; TripA...
Content Marketing For A Travel Website On The Examples Of: Booking.com; TripA...
 
The Skin Games 2024 25 - Sponsorship Deck
The Skin Games 2024 25 - Sponsorship DeckThe Skin Games 2024 25 - Sponsorship Deck
The Skin Games 2024 25 - Sponsorship Deck
 
marketing strategy of tanishq word PPROJECT.pdf
marketing strategy of tanishq word PPROJECT.pdfmarketing strategy of tanishq word PPROJECT.pdf
marketing strategy of tanishq word PPROJECT.pdf
 
SORA AI: Will It Be the Future of Video Creation?
SORA AI: Will It Be the Future of Video Creation?SORA AI: Will It Be the Future of Video Creation?
SORA AI: Will It Be the Future of Video Creation?
 
Best Persuasive selling skills presentation.pptx
Best Persuasive selling skills  presentation.pptxBest Persuasive selling skills  presentation.pptx
Best Persuasive selling skills presentation.pptx
 
Cost-effective tactics for navigating CPC surges
Cost-effective tactics for navigating CPC surgesCost-effective tactics for navigating CPC surges
Cost-effective tactics for navigating CPC surges
 

Marketing Strategies Marketing Plan

  • 2. 2 Table of Contents Title Page 1 Table of Contents 2 Executive Summary 4 1. Product Description 6 A. Type of New Product 7 B. Product Analysis 8 Big Mpact 8 C. Competitive Advantage 10 2. Opportunities and Issues Analysis 12 A. Strengths 13 B. Weaknesses 14 C. Opportunities 15 D. Threats 17 E. S-O Connections - Marketing Opportunities 19 F. W-T Connections - Marketing Issues 19 3. Target Market Strategy 22 A. Primary Consumer Market 22 B. Target Market Segments vs. Non-Targeted Segments 24 C. Additional Targets to Consider in the Future 25 4. Positioning Strategy 27 A. Statement of Positioning Strategy 27 B. Type of Positioning Strategy 27 C. Positioning Slogan & Theme 27 D. The Big Idea 28 5. Marketing Objectives 30 A. Marketing Objectives 30 B. Calculations 30 Increase Web Traffic and SEO 30 6. Marketing Mix Strategies 33 A. Product 33 B. Place 38 C. Price 41 D. Promotion 53
  • 3. 3 E. Summary of Marketing Mix 63 7. One Year Timeline 66 8. Projected Profit and Loss Statement 68 References 71
  • 5. 5 Executive Summary When most people hear terms like “ocean” or “mountains”, they envision beautiful, lush, pristine environments. Some have fond memories of partaking in their favorite sporting activity while others remember fun social events amongst family and friends. These are the types of memories our team, here at MPACTED, reminisce about as well. But the sad truth is, we too often forget the harsh impact that the human race, as a whole, has had on these irreplaceable landscapes. We started our company with the goal of creating a product that allows consumers to maintain a more synergetic balance between fun, and environmental awareness. The Big Mpact combines the convenience of a trash compactor with a luxury cooler into one traveling unit. It is specifically engineered to easily integrate into your outdoor plans and provide an easy way to collect and dispose of trash and recyclables upon leaving. Through our extensive research, we have narrowed down our outdoor consumer segment and created a strategic promotional mix to best reach this target market. We have molded this mix around the concept of green marketing; exemplifying the benefits of the Big Mpact for people and the environment. We will utilize this to create a relationship of trust amongst communities based on genuine efforts of increasing goodwill. We have positioned ourselves in such a way that the opportunity for growth and innovation will be ever present, leading to the long-term success of MPACTED. We invite you to join us to MPACT your life and MPACT the world!
  • 7. 7 1. Product Description A. Type of New Product a. Product Introduction The Big Mpact is an innovative, new-to-the-world trash compactor and cooler unit. It was created with the concepts of convenience and environmental awareness in mind. Trash compactors are not a new product, but our Big Mpact is unique because it can accompany the user on any adventure. Big Mpact is a portable trash compactor and cooler combined into a single traveling unit. Gone are the days of forgetting trash bags while loading up the cooler with all the favorite food and drinks. By combining the two, MPACTED has made being environmentally friendly, easy. The Big Mpact will come in a single size, offered at a premium price. b. Why the Big Mpact is New-To-The-World MPACTED’s portable trash compactor is considered new to the world because nothing like it exists yet. There are trash compactors that are used both industrially and in households. The closest existing trash compactor that is considered “portable” are in- home, stand-alone compactors. There is currently no market for truly portable compactors. Although the concepts of a trash compactor and a cooler are already mature in the product life cycle, the Big Mpact breathes new life into these old products.
  • 8. 8 B. Product Analysis a. Visual of Product Big Mpact Outer Compactor Dimensions: 18” x 39” x 26” Inner Compactor Dimensions: 12” x 37.5” x 24.5” Outer Cooler Dimensions: 18“ x 39” x 26” Inner Cooler Dimensions: 15” x 36” x 23” Weight (Empty): 84 lbs. Figure 1 The Big Mpact uses a battery powered hydraulic press. The user inserts items through a slot on the front, bottom half of the product. When the slot is securely closed, the hydraulic press system is triggered. This provides two functions. The first is safety. By having the opening protected by metal flaps, little hands and fingers cannot be caught. Additionally, the powerful hydraulic press will not work if the flaps are open. This also eliminates any accidental injury. Second, by the compactor automatically triggering when new trash is added, it will take longer for the trash receptacle to fill up, and it is self-sufficient until it is time to empty. The Big Mpact features two compartments for both recyclable and non-recyclable materials respectively, perfect for whatever social event is thrown its way.
  • 9. 9 b. Features vs. Benefits Features Benefits Hydraulic press mechanism Efficiently compacts trash Four 360-degree, locking all terrain wheels Easy maneuvering in all environments 16 inch extendable handle Comfortable grip Adjustable to user’s height making the heavy Big Mpact easier to move. Removable and rechargeable battery Sustainable power source Eliminates the need to discard and replace batteries, making the Big Mpact even more environmentally friendly Two front loading/emptying, removable compartments: one for trash, one for recyclables Convenient to access Easy to empty Provides a solid base for the adjoining, stacked cooler Stackable cooler unit Transport food and drinks for social settings 30 disposable bags Easier disposal of trash and recyclable materials
  • 10. 10 C. Competitive Advantage Level 1 The Big Mpact’s level one competitive advantage is achieved through product positioning. It is positioned as a versatile luxury outdoor good that enables to user to take control of their environmental impact. The hedonic benefits of the product usage draw customers in. The users will feel like they are contributing to preserving the environment as they reduce their footprint through the compaction and recycling of trash. Level 2 Our level two competitive advantage comes from the innovative technology and the quality materials used. The high-quality materials and components required to manufacture this product ensure that MPACTED’s trash compactor is built to last. We strive to create a product that will last a lifetime so that no additional waste is created from having to frequently replace the compactor.
  • 11. 11 2. Opportunities and Issues Analysis
  • 12. 12 2. Opportunities and Issues Analysis Figure 2
  • 13. 13 A. Strengths Company Culture At MPACTED, our goal is to provide consumers with a product that allows them to enjoy an active, social lifestyle while ensuring the preservation of the surrounding environment for future generations. Our strong belief in our core values is aligned throughout the company structure from concept generation to finalizing the product. This process began with the careful selection and thoughtful management of our employees. Happy employees lay the groundwork for a quality product and excellent customer experience. We believe in maintaining a healthy, diverse, and open- minded working environment where our employees are encouraged to share their ideas and collaborate effectively. Our pride in strong company culture can be seen through the quality reflected in our products, setting us apart from any remotely similar products on the market. Expertise Our resources are comprised of three main categories; time, people and expertise. We view the time and money invested in our company as an investment in future generations. Our high-quality products are built to endure the wear and tear of an active and environmentally conscious lifestyle. All employees within the company are expected to uphold the values of our company. They believe in preserving the earth’s beauty for generations to come and use that as a driving force in creating these innovative products. Our company was founded by a handful of people who love being outdoors. Whether it’s spending time in the ocean in Hawai’i, snowboarding in Colorado, or camping in Utah, our founders have a lifetime of experiences in the outdoors. Thus, we have all witnessed firsthand the harsh impact that trash has had on these beautiful places and
  • 14. 14 continue to search for solutions. Our combined lifetime of expertise has allowed for the creation of products that every individual is proud to put their name behind. Exclusivity We take pride in our ability to provide MPACTED’s customers with a product that is held to the utmost standard of quality. The unique design and traveling capabilities set the Big Mpact apart from other existing products on the market. A quick online search of the term “portable trash compactor” results in a variety of stand-alone devices meant for indoor use, rather than something that you can take on your next adventure (American Home Shield). Our exclusive design was created with our consumers’ desire for travel and convenience in mind. B. Weaknesses New Company Despite our strong beliefs in our company’s goals, we are still a startup. MPACTED is striving to prove that there is a need that can be filled with our product. Trash compactors with travel capabilities are not in the forefront of people’s minds when considering a packing list for their next adventure. There are strong, well-known competitors who have a recognizable brand and offer substitute products. These stationary options cloud the minds of consumers when trying to visualize what our product is truly capable of. Our brand is not yet known, and we have lots of work to do in order to create trust between our company and our potential consumers. Resources Due to the high quality of our products, parts and labor are expensive, especially within the first year of operation. We do not have an established production facility, which means that we have to source our product components from various locations, adding to production costs.
  • 15. 15 MPACTED’s means of distribution will heavily rely on direct channel distribution within the first year. Therefore, our sales team will be an essential driving force to increase our consumer base within the first year. As a result, funds for marketing must be strategically allocated in a way that maximizes our reach to customers, creating the biggest impact for our dollar. Product Component Despite our high product quality, the first generation of units with be expensive, heavy, and fairly large. There are many components needed to create a safe and efficient hydraulic compression system. Basic mechanisms will be used in the first year that weighs 15 lbs. on their own. Future success will determine the ability to dedicate larger funds to research and development in order to reduce these pitfalls. C. Opportunities Market Demand and Trends The demand for trash compactors continues to grow rapidly, with a projected compound annual growth rate (CAGR) of 3.8% from 2019-2028 (MarketWatch). Oddly enough, the generation of plastic waste grows at the same rate every year (Plastic Pollution Coalition). Additionally, in 2015 alone, the EPA recorded 67.8 million tons of recycled municipal solid waste (EPA). Nearly 70% of this waste was comprised of paper and paperboard, which is exactly the type of waste we want our consumers to be able to utilize this product. By providing consumers with a convenient way to dispose of litter during social events, we hope to contribute to the increased recycling efforts. It can be so easy to desecrate a natural area when a group of people get together. Cans, bottles, cups, and food
  • 16. 16 wrappers often get left behind. Our goal behind the design of the Big Mpact was to put the next cold one, and the finished cold one, in the same location. That way, our self- driven consumers will be able to take initiative in ensuring that they do not contribute to the ever increasing problem. Community Involvement Our company can engage in several activities in order to reinforce goodwill within the community and reaffirm our commitment to environmental protection. For instance, we will vow to join the 1% For The Planet movement. This coalition is comprised of businesses, nonprofits, and individuals who vow to make contributions to environmental organizations around the world (1% For the Planet). As a company, we would have the opportunity to donate 1% of our annual revenue to organizations within the non-profit. In turn, these non-profits provide funding for environmental efforts. This aligns perfectly with our environmental goals. This would not only instill goodwill within our consumer base but also help to increase brand awareness and trust. We would have multiple options in ways to join the coalition, by beginning with sales from a specific product line, brand, or the company as a whole. By joining, we would receive permission to utilize the 1% For The Planet logo on our website, social media platforms, and advertisements, furthering the reach of our brand and attached message. In addition, this would provide an opportunity for our company to engage in green marketing. This method of engagement embraces three keys themes: good for the planet, good for you and your family, and good for your wallet (Mintel Academic). Well known, respected brands, with their roots entwined in sustainability, have found success with this method. It gives us the opportunity to highlight the inspiration for these products. As an added point of community outreach, we can also get involved with the Take 3 for the Sea initiative. This organization emphasizes how the simple decision to take 3
  • 17. 17 pieces of trash with you when you leave the beach or any outdoor setting can have a lasting impact on the preservation of that area (Take 3). By sponsoring their beach cleanup events we would provide ourselves the opportunity to create goodwill amongst consumers while increasing awareness of our products and its unique benefits. Geographic Areas where outdoor activity is prevalent present the greatest opportunity for increasing our consumer base and market share. Social activities including camping and beach going will be closely aligned with our brand through marketing efforts including community events and advertisement. For consumers who camp frequently, simple tasks like cooking, cleaning, and hydrating create a large amount of trash (Collier). Proper disposal of such items can easily create large quantities of trash that camping areas are not equipped to handle (Collier). Taking the portable trash compactor on your next trip can alleviate this added area of stress. The same can be said for ocean activities. Trash that is left behind accumulates on the shoreline and contributes to the ever-growing issue of marine debris. This can cause further problems including damage to important habitats like coral reefs and seagrass beds, harm to wildlife including many endangered species, and potential damage of marine vessels (Green Boating Guide). In addition to the success of our business, we hope to make a visible impact on the earth by decreasing the amount of environmental waste. D. Threats Competitors Existing competitors with portable trash compactors for home use pose a threat to our company. Users who have invested in these may not want to make another large investment in a similar device meant for outdoor use. It may simply be easier to take their trash
  • 18. 18 back to their home in a trash bag and compact it there, or just dispose of it on the spot. Existing cooler options are nearly endless as well. This is a common household item and consumers may not be looking for a replacement. Indirect competitors pose a threat as well. Traditional dumpsters and trash receptacles can commonly be found in areas meant for social activities. Consumers may simply prefer to dispose of their waste at these public receptacles and let others worry about the following steps. Legal Safety regulations will be of the utmost concern for this product. Making sure the Big Mpact meets all safety requirements will have a major impact on our manufacturing process to ensure that our intended standard of quality is met. To guarantee safety, the Big Mpact’s hydraulic system will be fully internal. We need to ensure that the press itself will not activate unless the compression compartment is completely shut. One of the largest drawbacks about the Big Mpact is its weight. Transporting this product is the largest selling point as well. As a result, the design of the all-terrain wheels and sled feet will need to undergo rigorous testing. MPACTED needs to ensure that this product can be effortlessly transported from one point to another and that the wheels can handle the weight on tough terrain. Lastly, the packaging and product itself will require warnings and instructions about proper use, including “team lift” tags. Product Several common issues exist with trash compactor machines, including odor, noise, and issues if the door is unable to shut properly. These issues relate back to ensuring that products are manufactured to our set specifications. In addition, it is inevitable that malfunctions will occur every once in a while. First-year product warranties will help to combat any cognitive dissonance among customers should this issue arise. By agreeing to repair the product ourselves, we gain the ability to oversee the repair process and intensive testing before returning the product to its owner.
  • 19. 19 E. S-O Connections - Marketing Opportunities It is encouraging that the demand for trash compactors is projected to grow by 3.8% for the next nine years. As we introduce our products to the market and continue to dedicate funds to research and development, we aim to position ourselves in the forefront of consumers’ minds as a company that continually creates more user-friendly trash compactor options for everyday use. In addition, by aligning our company culture and mission with social causes, such as 1% for the Planet and Take 3, we reinforce our environmental goals to consumers. This emphasizes that we are not a company that is attempting to monopolize profits on the environmental awareness movement, but rather create these products to kickstart lasting change. Our combined team of experts from various backgrounds provides a well-rounded knowledge base on the geographic areas we hope to target. By fusing our collective areas of expertise as we pursue further research, we will be able to identify key activities within these regions and create content that best exemplifies the benefits our product provides for their specific needs. F. W-T Connections - Marketing Issues Due to the high costs associated with producing the Big Mpact combined with the threat of indirect competitors, we run the risk of losing potential customers. They may view our product as exorbitantly overpriced and opt for the common alternative of hauling the trash away in traditional receptacles. In order to combat this issue, we need to emphasize the long-term benefits
  • 20. 20 of purchasing our product. The Big Mpact is built to last for years on end. As a result, it will save time and money for our customers in the long run. We also realize that this product appeals to a very niche market. Our paid ads are designed to specifically create appeal within the outdoor consumer market. We will need to conduct extensive research to identify who within the segment has an annual income ranging from $65,000 to $80,000 and is more likely to be the initiator of outdoor events. These will be the individuals who are likely to benefit the most from our product making them more willing to pay top dollar.
  • 21. 21
  • 22. 22 3. Target Market Strategy A. Primary Consumer Market a. Primary Target Market Our target market consists primarily of people that participate in social outdoor activities on a regular basis. This includes but is not limited to camping, beachgoing, and outdoor sporting events. The age range that we want to target is people aged between 29 to 55 because of the cost of our product. The range of income we would like to target is between $65,000-$80,000. In 2017, the median household income for people aged between 29 to 55 averaged $73,777 (U.S. Census Bureau) making this age group suitable for our target demographic. Figure 3
  • 23. 23 We would like to specifically target this group of people living in California, Vermont, Oregon, Florida, Colorado, Maine, and Rhode Island. These states are actively trying to have a positive impact on the way people interact with their trash (Arvesen; Leins). The residents of these states are more inclined to follow an “outdoor-centered” lifestyle due to the diversity in natural surroundings. b. Estimated Size of Target Market Figure 4 Our initial findings indicated that more than 385 million people visit the beach every year (2017 Life-Saving Statistics). When further examining the psychographic tendencies of our target market, we found that camping makes up roughly 29% of the U.S Outdoor Consumer Population (Who is the Camping Consumer). If we break the 29% down,
  • 24. 24 there are 43% Female Campers and 57% Male campers. Across the “camper” demographic, the median age is 36 years old, and 43% of this population is earning $75k or more. We have combined the factors of age, annual earnings, and outdoor lifestyles in order to determine our target market size. Currently, there are roughly 69,000,000 individuals in the US that fall within the Sports & Outdoor industry (Statista). This will be our beginning figure to determine the target market size. The current US population is 327,000,000 (Worldometers). Beginning with age, roughly 33% of that population falls within our targeted age range of 29-55 years (U.S. Census Bureau). By applying that percentage to 69,000,000, we arrive at 22,770,000. On average, roughly 15% of households are making more than $77,000 annually, further narrowing our target market to 3,415,500 (Vo). Finally, by applying a 2% conversion rate, we arrive at 68,310 potential customers. As a young company, we believe that it is likely for us to reach 25% of the total target market in the first year bringing us to roughly 17,000 buyers/sales in the first year. In essence, 17,000 sales represent less than 1% of the total market share prior to conversion. As a startup company, acquiring 1-5% market share within the first five years is much more realistic (Zhuo). We are taking a conservative approach and hope to continually increase this in the future. B. Target Market Segments vs. Non-Targeted Segments Our target market is more likely to buy the Big Mpact over a normal trash compactor or cooler based on their social setting preferences, tendencies towards outdoor activities, and a higher rate of disposable income. People between the ages of 29 to 55 are more likely to go camping and own luxury items such as the Big Mpact. In contrast, people who are younger, such as millennials, generally don’t have the disposable income to spend on a $1,148.45 item. People aged 45 to 55, are more likely to buy our product
  • 25. 25 because of the impact that it will have on the earth (Fredin). Additionally, between 2006- 2013, there has been a consistent increase in people buying coolers, which is encouraging news (Ferguson). C. Additional Targets to Consider in the Future If we focus our efforts towards targeting consumers who frequent outdoor group settings activities, we can expand our target market to include Concert and Festival goers as well as Tailgaters. Concert and Festival Goers In 2015, there were reportedly 32 million annual festival attendees (Nicholson). As the frequency of festivals increases, so does attendance. Out of this segment, roughly 46% of them are aged between 18-34. Furthermore, the majority of these concertgoers travel an average of 903 miles to attend a festival (Rhys). This makes them the perfect target market for our future plans to extend the Mpactor brand line and include a smaller, travel-friendly version (discussed in future product line extension). Tailgaters During our research, we found that on average 18% of sports fans tailgate before the games out of the 140.12 million fans that attended NFL games, NCAA Football games, and MLB games (Roberts). Out of this target group, a study from Weber Grill Watch showed that 40% of these fans preferred to bring a full-size grill and 55% said they would use a portable one (McGee). This leads us to believe that this segment of the market would also be inclined to purchase our Big Mpact due to its versatility and convenience.
  • 26. 26
  • 27. 27 4. Positioning Strategy A. Statement of Positioning Strategy For our positioning strategy, we want to truly set our Big Mpact apart. MPACTED has formed a new-to-the-world product out of existing concepts and technologies. However, our goal is to bring the trash compactor/cooler into a whole new light. In short, there is no existing product, similar to ours, on the market today. Our product will seamlessly compact your trash and keep your brews cold at the same time. The Big Mpact is meant to help contain trash by presenting an easy, all-in-one unit. We wanted to come up with a concept that would keep your out of the oceans, mountains, and streets, while also keeping food and drinks at a cooled temperature. MPACTED’s trash compactor/cooler simply keeps our earth clean, and the brews cold. No matter what the occasion, the Big Mpact will help the environment. B. Type of Positioning Strategy For our type of positioning strategy, we would like to use the attributes/benefits strategy. This type of strategy is mainly known for focusing on the product’s main qualities and advantages that set the product apart. We want to use this strategy because our product isn’t like any product on the market. This will be a high-end luxury but versatile item without the brand name. Some extra benefits that our consumers will gain from using our product are saving the earth, reducing their trash footprint, and having a cooler that can keep their drinks cold. C. Positioning Slogan & Theme We want to let people know about the benefits and how our product isn’t like any other product in the world. With our slogan, we want to truly emphasize how the Big Mpact can make it easy for people to help keep the earth clean of debris. After hearing our slogan and seeing it advertised, we hope that our target market will begin to associate
  • 28. 28 our product with the idea of how picking up your trash when you’re having a good time — is a good time. D. The Big Idea “MPACT your life, MPACT the world.” MPACTED wants to drive home how interconnected our lives are with the environment around us. Humans are social beings. We gather to share good food, good company, and good times. This often happens in the great outdoors, whether it is around a campfire, playing sports on the beach, surfing with friends, or simply getting some sand between your toes; the best times are around the best company. MPACTED wants to bring people together while improving the environment.
  • 29. 29
  • 30. 30 5. Marketing Objectives A. Marketing Objectives Goal #1 - Increase web traffic and SEO Goal #2 - Increase the number of web visits from social media Goal #3 - Increase our reach at community outreach events Goal #4 - Sell 17,000 units B. Calculations Increase Web Traffic and SEO The goal to increase brand awareness was calculated by determining the size of the target market. The target market includes 3,415,500 people. We then applied a 2% conversion rate which resulted in 68,310 potential customers. We aim to have our website as the main channel, so optimizing it is a priority. The majority of our web traffic will come from keyword searches. On average search results can account for roughly 35% of website traffic (Gesenhues). Some keywords associated with our brand include; trash compactor, cooler, sustainability, beach, trash, and recycle. The strategic use of keywords throughout all of our marketing efforts will help to boost SEO, in turn increasing our web traffic. SEO will also be improved through consistent social media efforts. Increase Number of Web Visits from Social Media After conducting research on similar retailers, 26% of web traffic should come from referrals from social media channels (Gesenhues). We plan to maintain a social media presence which will be further discussed in the promotions section of the report. Our social media feeds will embody how we want Mpacted’s products to be positioned in the minds of our customer. We will include direct links to our website on each social
  • 31. 31 media platform. To measure web visits from social media, we will include a short survey to ask visitors how where they heard about our website. Link clicks to our website can also be measured through each social media platform’s native analytics tools. Increase our Reach at Community Outreach Events We aim to reach 52,000 people through community outreach event participation. We arrived at this number based on previous attendance and estimated future attendance of these events. In order to convert event attendees into customers, we will focus on increasing engagement with them during and after events. Attendees at beach cleanup events and other community outreach events will be encouraged to share photos of themselves using the Big Mpact share how it has changed their lives using our branded hashtag, #MPACTyourlife. Reach events will be measured by the number of product trials during the event, impressions on social media, mentions, and hashtag used during the event, and sales made during these events. Sell 17,000 Units Selling 17,000 compactor cooler units in the first year would provide revenue of $xxx. We plan to sell enough compactors to cover fixed and variable production costs. Our direct sales through MPACTED’s website will account for the main source of our revenue, followed by direct sales through Amazon, then indirect sale through our retailing partner, REI. Focusing on selling through a direct channel in the first year will lower costs and increases our margins.
  • 32. 32
  • 33. 33 6. Marketing Mix Strategies A. Product a. Product Mix i. Full Product Line The MPACTED product line is comprised of two main trash compactors and various corresponding accessories. The primary product, Big Mpact, is a portable trash compactor and waste receptacle in one device, with a stackable cooler on top. The entire unit can be rolled into place and remain stationary in its stacked position or the cooler can be removed and set on the ground for lower access. The product measures a total of 3 feet tall, 39 inches wide and 26 inches deep. The Big Mpact has two front-loading slots with a removable bin for easy emptying. The compactor holds 180 liters of compacted material and weighs 84 pounds empty. This product utilizes a hydraulic press mechanism in order to compact recyclable materials, including paper, plastic, and aluminum. The device is battery powered and rechargeable. ii. Included Features & Extended Product Accessories The standard model comes with 360-degree locking off-road wheels, an extendable handle, one removable, rechargeable battery, and 30 disposable bags. Customers will be provided with 5 colors options for the outer coating of the compactor: Black, Gray, Teal, Red, and Green. All premium add-on items will be sold separately, giving consumers the option of premiumization at their own discretion. Both trash compactor models will come with a 1-year warranty. This will cover all existing components of the originally purchased device and ensure replacement of parts as needed or full replacement of the device up to two times within the first year.
  • 34. 34 Accessories are separated into two categories, Utility, and Personalization. Utility accessories include items that aid or add to the function of the product. Personalization accessories allow users to customize their product, adding their personal touch and style. Big Mpact Accessories Utility Personalization ● High-power, waterproof solar panel with USB charging capability ● Additional external batteries ● 3-compartment battery carrying case ● Plastic or biodegradable bag refills (pack of 30 or monthly subscription) ● Snow equipped swiveling ski feet The Big Mpact accessories line includes a range of items that equip this product for the busiest of social settings, making it so much more than a simple trash compactor. A solar panel can be purchased for simple installation on top of the trash compactor unit. This option allows you to easily plug in and charge smaller USB capable handheld devices, such as phones and portable speakers. Additional external batteries and a 3- compartment battery travel case are also available for purchase. This will allow users to extend the battery life of their trash compactor for longer use. When customers online are preparing to check out, this particular product will be suggested as an add-on due to its practicality. The off-road feet can be switched out with ski feet in order to more easily navigate snowy or icy terrain. MPACTED will also
  • 35. 35 offer plastic or biodegradable bag refill subscriptions, which will send customers 30 refills at the beginning of each month. iiI. Future Product Mix Beyond the first year, MPACTED will dedicate research and development efforts towards creating both line and brand extensions. In regards to line extension, the company will introduce a second product size option as a more affordable item suited for everyday use. The lightweight product, Mpact will be powered manually. The user unscrews the lid to place the trash into the compactor before securely replacing it. They then use the retractable hand crank to press smaller recyclable materials. Figure 5 The smaller compactor, Mpact, is meant for convenient everyday use. It will measures at 12 inches in height with a 15-liter top-loading compartment and an empty weight of 7 lbs. This product allows users to dispose of smaller recyclable plastic and paper waste on the go. This product features a retractable hand crank press and attached handle for ease of transportation. Due to its simplified design, the lightweight device will also be TSA safe, allowing for use during air travel as well.
  • 36. 36 Future Mpact Accessories Utility Personalization ● Plastic or biodegradable bag refills (20 pack or monthly subscription) ● Interchangeable fashion skins ● Handle attachments Interchangeable fashion skins can be purchased to customize the product and reflect personal style. These will be produced with a high-quality material coated in a water- resistant layer that reduces the issues of spills and stains. Plastic or biodegradable bag refill subscription is also available in the same quantity and frequency as the larger edition. Additional handle attachments can be purchased to provide easier transportation, attachment to personal bags, as well as reflect personal style. Dependent on the success of the original Big Mpact model, the existing version will undergo a redesign in the future to feature sleeker, more streamlined exteriors, lighter interior mechanisms and increased volume for trash and recyclable compartments. As an added point of incentive, users will be encouraged to trade in their old models for a rebate. This allows MPACTED to recycle material for future use and ensure proper disposal of materials. b. Branding Strategies i. Brand Name & Branding Strategy We wanted to choose a brand name that retains the connection to our company name, MPACTED, which was designed to embrace our desire to make a positive impact on environmental preservation. In addition, we want to create a link between this concept and our high-quality trash compactors. As a group, we decided on Big Mpact as the brand name for our product. We feel that specifically branding our trash compactors under this name allows us to introduce several more product lines in the future. While
  • 37. 37 we hope to create more innovative and streamline models of our compactors, we also present ourselves with the opportunity to look into improving other recycling devices. ii. Brand Mark We do not have a brand mark specifically dedicated to the Big Mpact brand name. Instead, the MPACTED logo will be used across the board for all products. We feel that within the first year, our products are centered around the specific concept of trash compaction and the positive impact it can have on the environment. Our existing logo reflects that well. c. Stage of Product Life This product line is in the Introduction Stage of the product life cycle. By definition, as a new to world product, there is nothing else like the Mpact currently on the market. The vast majority of trash compactor products are either large scale, stationary, or a combination of the two. A search of “portable trash compactor” results in products that are strictly meant for movement around the interior of a room and are not intended for outside use. While luxury coolers can be positioned further along in the PLC, in the growth stage, our combination product sets it apart from this category. In this stage, we can expect sales to slowly increase exponentially as we tap into the market and establish our position. As the company continues to research and development while working to obtain the most efficient manufacturing processes, we can expect costs for this premium quality product to be very high and profits to be relatively low. It will be crucial to take advantage of our first mover position and limited competition in order to stay ahead of the game.
  • 38. 38 B. Place a. Channel Strategy i. Channel Breakdown MPACTED will utilize multiple channels to reach our target market. This decision will not only give us a greater reach amongst the outdoor industry consumers but also help us to further identify which channels will be most profitable in the future. ii. Visual Diagram of Channel Decisions Figure 6
  • 39. 39 b. Direct & Indirect Channels ii. Direct Channels The main source of direct sales will be resulting from the company’s personal website. The Big Mpact, along with corresponding accessories, will be available for purchase. We will further our reach through direct channels by participating in several trade shows that will give us the opportunity to connect with consumers and form relationships with future retailing partners. Trade Show Breakdown Trade Show Location Date Description Outdoor Retailer Snow Show Denver, CO January 29-31 The culmination of outdoor and snow industries. Improves reach with a diverse audience and includes media presence to further share brands with consumers. (Outdoor Retailer, Snow Show) Outpost LA City Market Los Angeles, CA June 1 An interactive event that combines experiences with curated products in order to reach a unique consumer base. (2019 Outpost LA City Market) Outdoor Retailer Summer Market Denver, CO June 22-25 North America’s largest outdoor trade show. Increase brand awareness, networking opportunities, buying, and sourcing connections, and meeting with key influencers (Outdoor Retailer, Summer Market). Additionally, we will set up pop-up shops at several ocean clean-up events in California and Florida, hosted by Take 3 for the Sea. At the events we will be able to display our product and consumers will have the opportunity to test them out by disposing of the
  • 40. 40 trash they collected along the coastline. Booth visitors will be directed to our company website for purchasing options. Trade Show Location Breakdown Event Location Date Description Take 3 Community Education: Clean Up California Florida March 1 May 1 August 1 Events hosted worldwide throughout the year. Will focus on cleanups along California and Florida coastlines We will also have the Big Mpactor available for purchase through the MPACTED store on Amazon.com. We will position ourselves as a third party, allowing for a third mode of direct sales. By doing so, we leverage consumers trust in Amazon while continuing to drive sales without giving up a high margin in the first year. ii. Indirect Channels Breakdown Lastly, we will utilize the strategy of indirect sales through the retailer, REI. In researching our target market, we found that their current product offerings strongly align with the preferences of our consumer base (REI). We feel that this retailer will be the most likely partner for our first year. This partnership will allow us to test out the retail market and more accurately assess the potential for future retail avenues. This outdoor lifestyle opens the door for efficient distribution of our products geographically. Colorado, where the company was founded and based all production, is a convenient halfway point between both coasts. c. Additional Channel Strategies for the Future Beginning in the second year of production, we aim to look towards partnerships and collaborations with well-established outdoor product companies such as Yeti and
  • 41. 41 Kohler. This presents us with the option of co-branding and increasing consumers’ perception of our product through premium brand associations. We also hope to further enhance our core values through the continuation of our presence at environmental cleanup events hosted by Take 3. We will move towards the option of corporate sponsorship in order to instill goodwill within the community and further enhance our core values. We would like to solidify direct channel relationships with added retailers including Cabela’s and Outdoor World. Both retailers are well-established in providing high-quality products to their consumers. C. Price a. MSRP After reviewing our options for channel distribution, taking into account markups, we have strategically decided to set the MSRP for the Big Mpact at $1,148.45. The components that are included in the $1,148.45 price are the trash compactor, accompanying cooler, all-terrain wheels, extendable handle, and a battery pack with charging cord.
  • 42. 42 Figure 7 First, the largest opportunity for profit margin is through our direct channel. Selling from our website, as well as events, cuts out all the middlemen that charge additional markup costs. It costs the company $350 to purchase the Big Mpact from the manufacturer. The MSRP of $1,148.45, which leaves us with a profit margin of $798.45 per unit, or a 69.52% profit margin. The second channel is through Amazon. Although this is not direct to consumer, Amazon charges a 15% charge on the profit made from selling on the unit. This means that for every Big Impact we sell through Amazon, we must pay Amazon $119.77. In addition to the selling fee, Amazon also charges a flat rate of $40 per month to have MPACTED’s products available for purchase. After the cost of goods sold and the sales fee from Amazon, MPACTED will make $678.68 per unit sold through Amazon, a profit margin of 59.1%. Lastly, our third channel of distribution is through a retailer. This is the least profitable channel of distribution for MPACTED. In order for the Big Mpact to make it on shelves in
  • 43. 43 a retail store, our target is REI, it must go through three markups. The industry average for a wholesaler is a 25% markup, and the average markup for retail is 50% (Bond). In order to turn a profit in this channel, MPACTED will markup the Big Mpact by 75%, which gives a sales price of $612.50 per unit to the wholesaler. The wholesaler then adds their 25% markup, which raises the price of the Big Mpact to $765.63 changed to the retailer. Once the retailer adds their markup of 50%, the final price to the consumer is $1,148.45. b. Pricing Objectives, Strategies, & Policies MPACTED’s goal is to make a high-end product that promotes a clean earth, affordable. However, high-quality materials and new-to-the-world design cannot be free. Therefore, we have priced the Big Impact at $1,148.45. This price tag may seem steep, however, the Big Impact is built to last. It is catered to adventurers who see value in preserving the earth for generations to come. As detailed in the previous section, we will be utilizing the Markup Pricing Strategy. We will add a standard markup to the Big Mpact’s original cost as it moves through the distribution channel. These markups are visually reflected in Figure 7 above. The first markup up of 75% on the manufacturing cost reflects our profit, the second markup of 25% represents the wholesaler's profit, and the third market of 50% represents the retailer's profit. By utilizing this strategy, every segment is able to turn a profit. In addition, we are also incorporating the perceived value pricing method. This method takes into account the factors such including, customer’s image of the product performance, warranty quality, customer support, and company reputation. Our high- quality product, one-year warranty, excellent customer service, and commitment to environmental awareness will instill a higher perception of value in the customer’s mind. The combination of these inputs further justifies our premium price of $1,148.45.
  • 44. 44 Lastly, we will utilize the bundling pricing strategy specifically for our additional batteries and 3-compartment carrying case. Customers who have purchased the Big Mpact will already have one battery. In order to further entice customers to buy our accessories, we will reduce the price of buying a carrying case and one additional battery together from $160 and $120. Because the case is meant to carry 3 batteries, our goal is to create desire amongst our customers to purchase the third battery at a later time. MPACTED has decided to set the price of the Big Impact at $1,148.45, and restrict any discount offered to a maximum of 25% off, or $287. This discount cap means the minimum price to the consumer is $861.45. The company decided to set this discount ceiling across all channels in order to present a uniform image to our consumers. Also, by setting this price floor, we can eliminate extremely low reference prices that can drive down profit for all distributors. c. Relevant Competitors One of the factors that went into deciding the MSRP of $1,148.45 is the competition. The Big Mpact’s competition is more than just trash cans and other trash compactors, but coolers too. The company we saw as our biggest competition would be Yeti. Yeti offers high-end, high-performing coolers. Given the size required for the Big Mpact to be effective, we looked at the Tundra 210 as a comparable product.
  • 45. 45 Yeti charges $799.99 for a similarly sized cooler to our Big Impact, however, it does not include an accompanying trash compactor, or all the added accessories (DannyQuigley). For our target market of social, active adventurers, our product has more to offer for the money. Figure 8 (DannyQuigley, & Frankenstein)
  • 46. 46 The same can be said for our second competitor comparison; Pelican’s 150QT Elite Cooler. Once again, this luxury cooler is priced at a premium rate of $629.95. Though our cooler will have similar integrity, the combination with the trash compactor leaves no room for exact comparison. Figure 9 (150 QT Elite Cooler, Pelican)
  • 47. 47 For the last price comparison, we wanted to look at a trash compactor from a reputable brand that consumers trust. Kenmore is a trusted name in the minds of consumers when considering household appliances. Our trash compactor will be held to the same standards of quality but will have the added capability of being transportable. The standing Kenmore Trash Compactor is listed at $549.99. Figure 10 (Kenmore 14729 Trash Compactor)
  • 48. 48 Cost Break Down Big Mpact Revenue per Channel Big Mpact Direct (Web) Amazon Wholesaler Retailer (REI) MSRP Retail Price $1,148.45 $1,148.45 $1,148.45 $1,148.45 % of Profit - Amazon $119.77 Price Paid - Wholesaler $612.50 Price Paid - Retailer $765.63 End User Price $1,148.45 $1,148.45 $1,148.45 $1,148.45 Percent of Sales 50% 30% 20% Our Revenue 1,148.45 $1,028.68 $612.50 COGS $350 $350 $350 Gross Margin $798.45 $678.68 $262.50 Gross Margin Percent 69.52% 65.98% 22.86% Units per Channel 8500 5100 3400 Profits per Channel $6,786,825 $3,461,280.75 $892,500 Total Revenue $11,140,605.75
  • 49. 49 Big Mpact Direct Channel Revenue Big Mpact Direct (Web) MSRP $1,148.45 Cost to Wholesaler - Cost to Retailer - End User Price $1,148.45 Percent of Sales 50% Sales Revenue $1,148.45 COGS $350 Gross Margin $798.45 Expected Units Per Channel 8,500 Revenue Per Channel $6,786,825 Swiveling Sled Feet Direct Channel Revenue Swiveling Sled Feeti Direct (Web) MSRP $180 Cost to Wholesaler - Cost to Retailer - End User Price $180
  • 50. 50 Percent of Sales 100% Sales Revenue $180 COGS $60 Gross Margin $120 Expected Units Per Channel 510 Revenue Per Channel $61,200 One Additional Battery One Additional Batteryii Direct (Web) MSRP $100 Cost to Wholesaler - Cost to Retailer - End User Price $100 Percent of Sales 100% Sales Revenue $100 COGS $20 Gross Margin $80 Expected Units Per Channel 510 Revenue Per Channel $40,800
  • 51. 51 Three Battery Carrying Case 3-Battery Carrying Caseiii Direct (Web) MSRP $60 Cost to Wholesaler - Cost to Retailer - End User Price $60 Percent of Sales 100% Sales Revenue $60 COGS $10 Gross Margin $50 Expected Units Per Channel 510 Revenue Per Channel $25,500 Biodegradable Trash Bags Biodegradable Trash Bagsiv Direct (Web) MSRP $12 Cost to Wholesaler - Cost to Retailer - End User Price $12 Percent of Sales 100% Sales Revenue $12
  • 52. 52 COGS $3 Gross Margin $9 Expected Units Per Channel 1,000 Revenue Per Channel $9,00 Plastic Trash Bags Plastic Trash Bagsv Direct (Web) MSRP $10 Cost to Wholesaler - Cost to Retailer - End User Price $10 Percent of Sales 100% Sales Revenue $10 COGS $2 Gross Margin $8 Expected Units Per Channel 1,000 Revenue Per Channel $8,000
  • 53. 53 Solar Panel USB Charger Solar Panel USB Chargervi Direct (Web) MSRP $110 Cost to Wholesaler - Cost to Retailer - End User Price $110 Percent of Sales 100% Sales Revenue $110 COGS $40 Gross Margin $70 Expected Units Per Channel 510 Revenue Per Channel $35,700 D. Promotion a. Promotion Mix Strategy MPACTED will focus on six different facets of promotion to create a comprehensive promotion mix that will effectively reach our target market. Our promotional mix will include elements of advertising, personal selling, sales promotion, events and experiences, publicity, and social media marketing. The overarching theme connecting our Promotional Mix will be “green marketing”; the concept of emphasizing the benefits for people and planet, that are derived from our product.
  • 54. 54 Figure 11 i. Advertising Out advertising efforts can be split into two categories, print, and digital. The first component of our marketing mix will feature print ads in REI’s Backpacker Magazine. This magazine is considered the authority for outdoor adventures, which perfectly aligns with the preferences and psychographics of our target market. It is not one of the largest publications on the market but again caters to the niche population we are trying to reach.
  • 55. 55 Figure 12 These printed ads will feature groups enjoying familiar outdoor activities in natural settings, with our slogan, “MPACT Your Life, MPACT the World”. For example, camping in the forest, playing volleyball at the beach, and kayaking on the lake. Ads will be featured in the magazine every three months, resulting in four print ads total within the first year. This will allow us to capitalize on this method while keeping our costs relatively low.
  • 56. 56 Figure 13 Second, our digital ads will consist of online banners. They will be located in websites, search engine pages, and mobile banner ads. We will use Google Ads in order to get our ads in front of the eyes of our target market. Figure 14
  • 57. 57 Google will place our ads according to the user’s browsing history. MPACTED will place ads on outdoor gear sites, outdoor blogs, travel sites, etc. Our banners will promote the product through our direct channel. Figure 15 ii. Personal Selling The personal selling method will be utilized at the previously mentioned events but holds the most importance at Mpactor’s Trade Show appearances. The Outdoor Retailer Snow and Summer Markets provide the best opportunity for our sales team to boost brand awareness amongst industry professionals, form relationships with existing retailers and manufacturers, and unlock opportunities for partnerships with complementary brands. We will also feature a booth at the Outpost LA City Market. This unique event is a fusion between a traditional trade show and informal street market. The interactive nature of the booth combined with intriguing promotional material will aid in drawing in this diverse audience.
  • 58. 58 Our sales will not only be extremely knowledgeable about the Big Mpact but also passionate about the cause of our product. The movement towards environmental awareness is much larger than our niche target market. Utilizing this method gives us a greater opportunity to entice a large segment of consumers in addition to our niche market. iii. Event Promotion We will be dedicating the largest portion of our marketing budget to this category of promotions. As previously mentioned, in order to reinforce our dedication to protecting the environment, we will set up promotional booths at Take 3 beach cleanup events. Two in Florida and another California, two of our target geographic areas. Event Calendar Jan Feb Mar Apl May June July Aug Sep Colorado California Florida At these events, participants will have the opportunity to stop by the booth and test out our trash compactors.
  • 59. 59 Figure 16 Due to the nature of our product and company mission, we believe that guerilla marketing will serve as a great platform to drive consumer interest and conversion. We will use trash collected from the Take 3 cleanup events to create a piece of artwork that will be displayed on beaches in California and Florida respectively. A team will be hired to create and install these pieces of artwork. Our goal is to increase awareness of environmental issues.
  • 60. 60 Figure 17 iv. Sales Promotion As an added incentive at Take 3 events, we will incorporate sales promotion through the distribution of discounts. In order to encourage consumers to keep the surrounding environment clean by using our product, we will utilize a tiered trash system to entice engagement. Essentially, consumers will be encouraged to pick up 5 pieces of trash along the coastline and bring it to the compactor to test out the product. In return for their participation and activism, they will receive a discount code between 5-15% depending on the size of the collected waste. These discounts will be acquired via QR code and redeemable only through our company website. This method should pique
  • 61. 61 consumers interests and direct them back to our website, thus, driving direct sales while increasing web traffic and earned media. v. Publicity We will announce the launch of the Big Mpact trash compactor in the trade publication, Outdoor Industry News. This association facilitates several trade shows throughout the year that we will be attending. The announcement will allow us to gain more traction amongst potential vendors and future retail partners such as Cabela’s, Outdoor World, and Yeti. Our product announcements will be followed by a review from one of REI’s Co-op Journal Writer’s. This online journal is closely tied in with the previously referenced print magazine by REI. A quick browse through their website reveals their dedication to providing customers with high-quality products, built to last, that they are passionate about. By providing one of the co-op journal writers with our products, we allow them to give an honest review with will help to increase consumers trust in our product. Figure 18
  • 62. 62 Lastly, as a form of strong public relations, MPACTED will commit to donating 1% of our sales from the Big Mpact to the initiative. We will be paid with environmental nonprofits that share the same values in order to further our reach in protecting the planet (1% For the Planet). This not reinforces goodwill amongst consumers but also helps up solidify our purpose as a company, to provide consumers with a product that helps them make a positive impact on the environment. vi. Social Media Marketing We will also incorporate paid social media marketing in the form of digital advertisements across three platforms: Instagram, Facebook, and Google Ads. Similar to our physical and print ads, these will features groups in social outdoor settings, with the same slogan. We feel that this method will give us the greatest amount of reach geographically. Figure 19
  • 63. 63 Instagram has been identified as one of the strongest platforms for social engagement at 4.21% (Katai). With 700 million users, we maximize the effectiveness of our targeted ads. When considering the older half of our demographic, 40 to 55, Facebook will be one of the most effective social media platforms in terms of reaching this segment. They make up roughly 15% of total U.S. users, which is relatively high in comparison to other platforms (Chen). Lastly, Google Ads provides the most flexible forms of measured web traffic (Rampton). Google Ads can often be even more effective than SEO, which can take months to take full effect. In addition to utilizing paid media across both Instagram and Facebook, we will also maintain company accounts that allow for further interaction amongst consumers. In contrast to the traditional ads, our sales team will be able to directly respond to consumers questions and comments. E. Summary of Marketing Mix We designed the distinctly unique, Big Mpact, in order to address a vital need in the outdoor consumer segment; a way to enjoy an active lifestyle while reducing one’s own impact on the surrounding environment. The added accessories line enables the user to extend the life of their product and customize it to fit their specific needs. Our combination of direct and indirect channels allows us to expand our reach while we work towards increasing brand awareness. In addition, we are able to capitalize on stronger direct earnings in the first year and begin to strengthen retailer relationships for the future. The Big Mpact is priced in such a way that it will specifically appeal to our niche target market. Not every consumer will be interested in buying this product, but those who do make a purchase will have values that align with our own company goals. Our use of advertisements, personal selling, events promotions, and publicity all reiterate our commitment to providing our consumers with a unique and high-quality
  • 64. 64 the product that synergizes their ability to reduce their environmental impact while maintaining the active social lifestyle they enjoy. While the success of our company is highly dependent on the number of sales, we also want to make actively work towards making a positive impact. We believe that our marketing mix strongly ties these goals together.
  • 65. 65
  • 66. 66 7. One Year Timeline J A N F E B M A R A P R M A Y J U N J U L A U G S E P O C T N O V D E C REI Backpacker Ad Social Media Ads Trade Show Appearances Take 3 Cleanups Guerilla Marketing REI Co-op Journal Product Review Trade Publication Announcement
  • 67. 67
  • 68. 68 8. Projected Profit and Loss Statement Sales Big Mpact $17,090,605.75 Swiveling Sled Feet $91,800 Additional Battery $51,000 3-Battery Carrying Case $30,600 Biodegradable Bags $12,000 Plastic Bags $10,000 Solar Panel USB Charger $56,100 Total Sales $17,342,105.75 COGS Big Mpact $5,950,000 Swiveling Sled Feet $30,600 Additional Battery $10,200 3-Battery Carrying Case $5,100 Biodegradable Bags $3,000 Plastic Bags $2,000 Solar Panel USB Charger $20,400 Total COGS $6,021,300 Total Gross Profit $11,320,805.75 Operating Expense Marketing Expense $343,707 1% for the Planet 1% of Total Profit Overhead Costs $420,000 Total Expenses $763,707 Total Profit $10,557,098.75 Less 1% for the Planet 105,570.99 Year 1 Profit 10,451,527.76
  • 69. 69 Marketing Budget Facebook Adsvii $4,690 Instagram Adsviii $5,033 Google Adsix $120,000 Backpacker Magazine Ads (4)x $66,468 Trade Publicationxi $22,500 Membership Fee $2,500 Advertisement Fee $20,000 Trade Shows (3) $45,910 Branded Tentxii $500 Sales Rep Accommodationsxiii $3,600 Sales Persons Total Wagesxiv $28,512 Salespersons Total Allowance $5,400 Signagexv $50 Banner Standxvi $100 Backdropxvii $160 Flightxviii $1,080 Shipment of Suppliesxix $1,950 Total Entry Feesxx $4,560 Take 3 Cleanup $34,104 Branded Tent $500 Sales Rep Accommodations $5,040 Sales Persons Total Wages $21,384 Signage $50 Banner Stand $100 Backdrop $160 Flight $2,970 Shipment of Supplies $3,900 Guerilla Marketingxxi $45,000 Total $343,707
  • 70. 70
  • 71. 71 References 1% For the Planet. Our Approach. Retrieved April 5, 2019, from http://www.onepercentfortheplanet.org/what-we-do/our-approach 10' x 15' Deluxe Pop-Up Party Tent - Black. (2019). Retrieved from https://www.thegazebostore.com/deluxe-pop-up-party-tent-black-10x15.html? 150QT Elite Cooler. (n.d.). Retrieved from https://www.pelican.com/us/en/product/coolers/elite/150qt 2017 National Life-Saving Statistics. (n.d.). Retrieved from http://arc.usla.org/Statistics/current.asp?Statistics=Current 2019 Outpost LA City Market - Weekend of June 1st! (2019, April 04). Retrieved from https://outposttrade.com/2019-outpost-la-city-market-weekend-of-june-1st/ Arvesen, A. (2018, April 20). Study: The greenest states in the U.S. Retrieved from https://www.snewsnet.com/news/greenest-states-2018 Average Salesperson / Salesman / Saleswoman Salary. (2019). Retrieved from https://www.payscale.com/research/US/Job=Salesperson_/_Salesman_/_Salesw oman/Salary Banners | Backdrops | Step and Repeat | Fabric Banners. (2019). Retrieved from https://www.bingbanners.com/?gclid=Cj0KCQjw2IrmBRCJARIsAJZDdxAM2q9W 1dIlR7qrk19ZIgZw5ymBYee7FmT7vuExJjCrF42QbacNKOIaAnAUEALw_wcB Battery carrying case For Nintendo Switch- accessories and charging dock at the Same Time - Must Have games bundle and controller 12000 mAh. (2018). Retrieved
  • 72. 72 from https://www.bestorx.com/battery-carry-case-for-nintendo-switch-organize- and-charging-at-the-same-time-must-have-accessory.html Bond, R. L. (2008, May 25). Finding the Right Price for Your Retail Products. Retrieved April 11, 2019, from https://www.entrepreneur.com/article/193986 Bulo, G. (2018, April 6). Retrieved from https://www.socialmediagids.com/blog/social- media-advertising Bureau of Transportation Statistics. (n.d.). Retrieved from https://www.transtats.bts.gov/AIRFARES/ Chen, J. (2019, April 23). 15 Facebook stats every marketer should know for 2019. Retrieved from https://sproutsocial.com/insights/facebook-stats-for- marketers/#FB-demog Collier, E., & Esplin, B. (2018). 10 Ways to Create Less Trash at Camp. Retrieved April 3, 2019, from https://lnt.org/camp-trash-challenge Ctuttle. (2016, May 13). Average Hotel Costs Continue to Climb, Except in Two Major Cities – Chicago and New York City. Retrieved from https://travelleaderscorporate.com/average-hotel-costs-continue-to-climb-except- in-two-major-cities-chicago-and-new-york-city/ DannyQuigley, & Frankenstein. (2019, March 12). Tundra 210. Retrieved April 16, 2019, from https://www.yeti.com/en_US/hard-coolers/tundra-210- cooler/YT210.html?dwvar_YT210_color=white&cgid=hard-coolers#start=1 EPA. (2018, October 26). Facts and Figures About Materials, Waste, and Recycling. Retrieved April 5, 2019, from https://www.epa.gov/facts-and-figures-about-
  • 73. 73 materials-waste-and-recycling/national-overview-facts-and-figures- materials#main-content Ferguson, G. (2015). Cooler Market. Retrieved from https://gracenferguson.com/wp- content/uploads/2015/07/Market-Research.pdf Fredin, T. (2004, August). Minnesota Report Card on Environmental Literacy. Retrieved from https://www.pca.state.mn.us/sites/default/files/p-ee5-06.pdf Gesenhues, A. (2018, February 23). Search outpaced social for referral traffic last year, driving 35% of site visits vs social's 26% share of visits. Retrieved from https://searchengineland.com/search-makes-comeback-2017-driving-35-traffic- publishers-vs-26-sent-social-networks-292834 Green Boating Guide. (2017, July 18). Waste Disposal & Recycling. Retrieved April 3, 2019, from http://www.sailorsforthesea.org/programs/green-boating-guide/waste- disposal-recycling International Air Freight: Shipping Charges, Rates & Cost. (2019). Retrieved from https://www.freightos.com/freight-resources/air-freight-rates-cost-prices/ Katai, R. (2019, April 01). Here are Four Benefits to Advertising on Instagram. Retrieved from https://nealschaffer.com/4-benefits-advertising-instagram/ Kenmore 14729 Trash Compactor. (n.d.). Retrieved from https://www.sears.com/kenmore-1.4-cu-ft-trash-compactor-black/p- 02214729000P?ef_id=Cj0KCQjw2IrmBRCJARIsAJZDdxAFCQFEDPvUzK64L4L Neqk_y_7ttVwNaMJtWmVb_E- exZ1PYkrqTXYaAvjGEALw_wcB:G:s&s_kwcid=AL!8592!3!317857264717!!!g!37 7725235266!&sid=IDx01192011x000001x1651398415&utm_campaign=9028926 &utm_group=62168417446-317857264717&utm_term=pla-
  • 74. 74 377725235266&gclid=Cj0KCQjw2IrmBRCJARIsAJZDdxAFCQFEDPvUzK64L4L Neqk_y_7ttVwNaMJtWmVb_E-exZ1PYkrqTXYaAvjGEALw_wcB Kobliski, K. J. (2006, January 17). Magazine Ads. Retrieved from https://www.entrepreneur.com/article/83094 Learn how much it costs to Make and Install Signs. (n.d.). Retrieved from https://www.homeadvisor.com/cost/safety-and-security/make-and-install-signs/ Leins, C. (2018, April 18). These States Are the Best at Protecting You From Pollution. Retrieved from https://www.usnews.com/news/best-states/slideshows/the-10- states-with-the-best-natural-environment?slide=11 Linda, & D., K. (2019). 2.5 gal Certified Compostable Trash Bags 16"x17". Retrieved from https://greenpaperproducts.com/biodegradable-trash-bags-kitchen- g100.aspx? MarketWatch. (2019, January 14). Global Trash Compactors Market To Incur Rapid Extension at a CAGR of 3.8% During 2019-2028. Retrieved April 4, 2019, from https://www.marketwatch.com/press-release/global-trash-compactors-market-to- incur-rapid-extension-at-a-cagr-of-38-during-2019-2028-2019-01-14 Mintel Academic. (2012, April). Marketing to the Green Consumer - US - April 2012. Retrieved April 2, 2019, from http://academic.mintel.com.unco.idm.oclc.org/display/619486/?highlight McGee, E. (2017, July 25). 2017 State of Barbeque Industries Retrieved from https://www.hpba.org/Resources/PressRoom/ID/516/2017-State-of-the- Barbecue-Industry-HPBAs-Consumer-Survey-Reveals-Grilling-and-Barbecuing- Is-a-Growing-Year-Round-Lifestyle
  • 75. 75 Monosoff, T. (2006, November 27). Demystifying Profit Margins and Markups. Retrieved April 16, 2019, from https://www.entrepreneur.com/article/170964 Nicholson, J. (2015, April 15). Nielsen Report: 32 Million People Attend At Least One Festival. Retrieved from https://musicrow.com/2015/04/nielsen-report-32-million- people-attend-at-least-one-festival/ Outdoor Retailer. (2019, April 10). Retrieved from https://www.outdoorretailer.com/ Outermart, 1.2 Garbage Bag (2019). Retrieved from https://outermart.com/products/cand-12-gallon-clear-garbage-bags-110- counts?gclid=Cj0KCQjw2IrmBRCJARIsAJZDdxB0BWpzOmmNRjVMqxOZQKkA 2X_39NVV3G16k-gVPnR-pAtMyC4fvQsaAk5cEALw_wcB Plastic Pollution Coalition. (2018, October 4). U.S. Plastic Recycling Rate Expected to Drop to 4.4% in 2018. Retrieved April 7, 2019, from https://www.plasticpollutioncoalition.org/pft/2018/10/4/us-plastic-recycling-rate- projected-to-drop-to-44-in-2018 Quantifying CreativityHow Any Artist Can Price Their Art for Sale. (n.d.). Retrieved from https://www.artbusiness.com/artists-how-to-price-your-art-for-sale.html Rampton, J. (2014, March 30). 5 Reasons Your Business Should Use AdWords. Retrieved from https://www.forbes.com/sites/johnrampton/2014/03/29/5-reasons- your-business-should-use-adwords/#2344f88544a0 REI. (2019). About Us. Retrieved from https://www.rei.com/ Rei. (2019). Goal Zero Nomad 7 Plus Solar Panel | REI Co-op. Retrieved from https://www.rei.com/product/123283/goal-zero-nomad-7-plus-solar-panel?
  • 76. 76 RepmanGearhead, J., GouldenGearhead, A., EadsGearhead, W., & Quitiquit, A. (2019, April 17). Fatty Ski. Retrieved from https://www.backcountry.com/k2-fatty-ski? Roberts, A. (2016, September 01). Tailgating by the numbers. Retrieved from https://www.cnn.com/2015/11/25/living/tailgating-by-the-numbers/index.html Roll Up Banner Stands. (n.d.). Retrieved from https://www.buildasign.com/producttype/retractablebanners/Roll-Up-Banner- Stands? Rys, D. (2018, November 15). Nielsen Releases In-Depth Statistics on Live Music Behavior: 52 Percent of Americans Attend Shows. Retrieved from https://www.billboard.com/articles/business/8485063/nielsen-releases-in-depth- statistics-live-music-behavior-360-report Shewan, D. (2018, November 8). How Much Does Google Ads Cost? Retrieved from https://www.wordstream.com/blog/ws/2015/05/21/how-much-does-adwords-cost Statista. (2019, February). Sports & Outdoor Market. Retrieved from https://www.statista.com/outlook/259/109/sports-outdoor/united-states Take 3 - About. (n.d.). Retrieved from https://www.take3.org/about/ Teare, & MarkR. (2019, April 16). Powerstation 20,000mAh High Capacity Power Bank. Retrieved from http://www.mophie.com/shop/powerstation-XXL? Thomas, G. (2019, March 20). Making the Most of Your Money with Instagram Ads. Retrieved from https://www.wholewhale.com/tips/making-the-most-of-your- money-with-instagram-ads/
  • 77. 77 Trade Show Booths & Conventions FAQ. Exhibitsusa. (2019). Retrieved from http://www.exhibitsusa.com/trade-show-booths-and-conventions-FAQ Ulloa, N. (2015, April 14). 32 Million People in the U.S. Attend Music Festivals. Retrieved from https://www.digitalmusicnews.com/2015/04/14/32-million-people- in-the-u-s-attend-music-festivals/ U.S. Census Bureau, Population Division. (2018, June). Annual Estimates of the Resident Population for Selected Age Groups by Sex for the United States, States, Counties and Puerto Rico Commonwealth and Minicipios. Retrieved from https://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src =bkmk Vo, L. T. (2012, July 16). What Americans Earn. Retrieved from https://www.npr.org/sections/money/2012/07/16/156688596/what-americans- earn Worldometers. (2019, April 23). U.S Population. Retrieved from https://www.worldometers.info/world-population/us-population/ WHO IS THE CAMPING CONSUMER? (2014, February 04). Retrieved April 11, 2019, from https://outdoorindustry.org/wp- content/uploads/2016/05/ConsumerVue_CampersIG_final.pdf Wight Hat Ltd. (n.d.). Volume Converter. Retrieved from Metric Conversions: https://www.metric-conversions.org/volume/cubic-inches-to-liters.html Zhuo, T. (2016, March 7). 5 Strategies to Effectively Determine Your Market Size. Retrieved from https://www.entrepreneur.com/article/270853
  • 78. 78 Endnotes (Pricing References) i Repman, 2019, https://www.backcountry.com/k2-fatty-ski? ii Teare, 2019, http://www.mophie.com/shop/powerstation-XXL? iii Battery carrying case, 2018, https://www.bestorx.com/battery-carry-case-for-nintendo-switch-organize- and-charging-at-the-same-time-must-have-accessory.html iv Linda, 2019, https://greenpaperproducts.com/biodegradable-trash-bags-kitchen-g100.aspx? v Outermart, 2019, https://outermart.com/products/cand-12-gallon-clear-garbage-bags-110-counts? vi Rei, 2019, https://www.rei.com/product/123283/goal-zero-nomad-7-plus-solar-panel? vii Bulo, 2018, https://www.socialmediagids.com/blog/social-media-advertising viii Thomas, 2019, https://www.wholewhale.com/tips/making-the-most-of-your-money-with- instagram-ads/ ix Shewan, 2018, https://www.wordstream.com/blog/ws/2015/05/21/how-much-does-adwords- cost x Kobliski, 2006, https://www.entrepreneur.com/article/83094 xi Kobliski, 2006, https://www.entrepreneur.com/article/83094 xii 10 x 15 Deluxe Pop Up, 2019, https://www.thegazebostore.com/deluxe-pop-up-party-tent- black-10x15.html? xiii Ctuttle, 2016, https://travelleaderscorporate.com/average-hotel-costs-continue-to-climb- except-in-two-major-cities-chicago-and-new-york-city/ xiv Average Salesperson, 2019, https://www.payscale.com/research/US/Job=Salesperson_/_Salesman_/_Saleswoman/Salary xv Learn how much it costs to Make and Install Signs, 2019, https://www.homeadvisor.com/cost/safety-and-security/make-and-install-signs/ xvi Roll Up Banner Stands, 2019, https://www.buildasign.com/producttype/retractablebanners/Roll-Up-Banner-Stands? xvii Banners, 2019, https://www.bingbanners.com/? xviii Bureau of Transportation Statistics, 2019, https://www.transtats.bts.gov/AIRFARES/ xix International Air Freight: Shipping Charges, Rates & Cost, 2019, https://www.freightos.com/freight-resources/air-freight-rates-cost-prices/ xx Trade Show Booths, 2019, http://www.exhibitsusa.com/trade-show-booths-and-conventions- FAQ xxi Quantifying CreativityHow Any Artist Can Price Their Art for Sale. (n.d.). Retrieved from https://www.artbusiness.com/artists-how-to-price-your-art-for-sale.html