This document provides an overview of the Ndim iBhudda clothing brand and its marketing strategy. The brand targets young males aged 16-25 and aims to provide a sense of belonging through branded t-shirts. Segmentation analysis identified this target group based on location, demographics, and psychographics. Research found interest in the brand and competitive pricing will be important for success against established competitors.
Jehrica Marini is applying for a position at a clothing store. She has a background in merchandise marketing and is currently completing her Associate of Arts Degree in Merchandise Marketing at FIDM. In her cover letter, she highlights her customer service skills and passion for fashion. She believes these qualities would make her a great fit for the position. She has also included her resume to provide more details on her education, skills, and experience in retail.
This report contains the some new ideas about the limited organization business and sole trade organisational business. The learner has described and analysed the businesses of limited company and a sole trader. After that, the learner has analysed the purposes of these two types of organizations along with the ownership structure of these two organizations. After that, the learner has stated the effects of change in the ownership of a sole trader companies. Ten the learner has selected four different stakeholders for two types of businesses that are limited company and sole trader and analysed the how these stake holders influence the purposes of these businesses.
Check out our sample t-shirt business plan to learn how you can write your business plan. This sample business plan includes all the required information for a perfect t-shirt business plan.
Not just that vending machines are easy to use, they come with a variety of product niches and help you avoid the hassle of showing product after product to customers, who’ll have every option displayed right in front of them with a vending machine. And though refilling a vending machine and protecting it from theft and vandalism might seem like a boring job, a vending machine business is much more than that. From vending machines that offer products ranging from granola bars to office supplies to the ones that take orders from apps through artificial intelligence, the vending machine business has gone through a massive change over the decades. But, one more interesting fact is that there are over 5 million vending machines in the US alone, and if you want to last in such a competitive market you need a proper business plan. So, read on to find out how to write a vending machine business plan.
Before you start writing your barber shop business plan, spend as much time as you can to reading through some samples of salon business plans. Not only will that give you a good idea of what it is you’re aiming for, but it will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their future plans.
We have created a sample barber shop business plan example for you to get a good idea about how a perfect barber shop business plan should look like and what details you should include in your business plan.
Source: https://upmetrics.co/template/barber-shop-business-plan-example
This document provides an overview for a business plan to open a women's shoe store called Scarpetta in Houston, Texas. The store will be owned and managed by Jennifer Lawrence and will offer comfortable shoes that can be worn for both work and social occasions. The plan outlines the company mission, target market of women ages 18-45, marketing strategy focusing on social media, product lines including essential work shoes and going out heels, and financial projections forecasting a net operating income of $184,867 in the first five years. If successful, the owners plan to potentially expand to new locations in Dallas or Austin.
If you want to start a new taxi business, the first thing you will need is a business plan. Use our sample Metro Cabs - Taxi Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new taxi business, spend as much time as you can reading through some examples of transportation-related business plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Metro Cabs - Taxi Business Plan for you to get a good idea about how perfect a taxi business plan should look like and what details you will need to include in your stunning business plan.
If you are planning to start a new vacation rental business, the first thing you will need is a business plan. Use our sample Maxwell - Vacation Rental Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new vacation rental business, spend as much time as you can reading through some examples of services-related business plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Maxwell - Vacation Rental Business Plan for you to get a good idea about how perfect a vacation rental business plan should look like and what details you will need to include in your stunning business plan.
Jehrica Marini is applying for a position at a clothing store. She has a background in merchandise marketing and is currently completing her Associate of Arts Degree in Merchandise Marketing at FIDM. In her cover letter, she highlights her customer service skills and passion for fashion. She believes these qualities would make her a great fit for the position. She has also included her resume to provide more details on her education, skills, and experience in retail.
This report contains the some new ideas about the limited organization business and sole trade organisational business. The learner has described and analysed the businesses of limited company and a sole trader. After that, the learner has analysed the purposes of these two types of organizations along with the ownership structure of these two organizations. After that, the learner has stated the effects of change in the ownership of a sole trader companies. Ten the learner has selected four different stakeholders for two types of businesses that are limited company and sole trader and analysed the how these stake holders influence the purposes of these businesses.
Check out our sample t-shirt business plan to learn how you can write your business plan. This sample business plan includes all the required information for a perfect t-shirt business plan.
Not just that vending machines are easy to use, they come with a variety of product niches and help you avoid the hassle of showing product after product to customers, who’ll have every option displayed right in front of them with a vending machine. And though refilling a vending machine and protecting it from theft and vandalism might seem like a boring job, a vending machine business is much more than that. From vending machines that offer products ranging from granola bars to office supplies to the ones that take orders from apps through artificial intelligence, the vending machine business has gone through a massive change over the decades. But, one more interesting fact is that there are over 5 million vending machines in the US alone, and if you want to last in such a competitive market you need a proper business plan. So, read on to find out how to write a vending machine business plan.
Before you start writing your barber shop business plan, spend as much time as you can to reading through some samples of salon business plans. Not only will that give you a good idea of what it is you’re aiming for, but it will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their future plans.
We have created a sample barber shop business plan example for you to get a good idea about how a perfect barber shop business plan should look like and what details you should include in your business plan.
Source: https://upmetrics.co/template/barber-shop-business-plan-example
This document provides an overview for a business plan to open a women's shoe store called Scarpetta in Houston, Texas. The store will be owned and managed by Jennifer Lawrence and will offer comfortable shoes that can be worn for both work and social occasions. The plan outlines the company mission, target market of women ages 18-45, marketing strategy focusing on social media, product lines including essential work shoes and going out heels, and financial projections forecasting a net operating income of $184,867 in the first five years. If successful, the owners plan to potentially expand to new locations in Dallas or Austin.
If you want to start a new taxi business, the first thing you will need is a business plan. Use our sample Metro Cabs - Taxi Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new taxi business, spend as much time as you can reading through some examples of transportation-related business plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Metro Cabs - Taxi Business Plan for you to get a good idea about how perfect a taxi business plan should look like and what details you will need to include in your stunning business plan.
If you are planning to start a new vacation rental business, the first thing you will need is a business plan. Use our sample Maxwell - Vacation Rental Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new vacation rental business, spend as much time as you can reading through some examples of services-related business plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Maxwell - Vacation Rental Business Plan for you to get a good idea about how perfect a vacation rental business plan should look like and what details you will need to include in your stunning business plan.
If you are planning to start a new thrift store, the first thing you will need is a business plan. Use our sample Maxwell - Thrift Store Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new thrift store business, spend as much time as you can reading through some examples of retail store-related business plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Maxwell - Thrift Store Business Plan for you to get a good idea about how a perfect thrift store business plan should look like and what details you will need to include in your stunning business plan.
A business plan is often a way to assure investors that your business is a good investment for their money. A business plan also puts all your thoughts, goals, ideas, and structure down on paper. If you are serious about your business and investment, a full informal business plan is a must. But, what if you just need your ideas mapped out before getting serious about your business? what if you want to write a business plan just for yourself to get clarity about your business and vision? This mini business plan template is sufficient to describe your business and it keeps you focused on your business goals without wasting your time on writing long stories about your business.
Commercial Refreshment Corner (Entrepreneur Final Plan)Qasim Raza
The document is a business plan for a commercial refreshment corner business in Pakistan. It will offer food items like Dahi Bhally, Samosas, and Finger Chips. The business is a partnership between 5 individuals. The plan outlines the business description, aims to provide quality food at low prices compared to competitors. It discusses suppliers, the target market of students and families, competitors in the area. The financial objective is to achieve sales of Rs. 8000 on the first day and break even in the second day. The operations, marketing strategies, SWOT analysis and financial projections are explained over subsequent sections.
This document outlines the key components of a business plan, including objectives, roadmap, planning process, and section details. It discusses that a business plan defines the venture, is read by investors and lenders to evaluate the opportunity, and acts as a guide for management. The document provides guidance on writing each section, such as describing the industry, market opportunity, operations, marketing strategy, management team, finances, and risks. It emphasizes that an effective business plan integrates different business functions and addresses the concerns of various stakeholders to communicate the vision and increase chances of securing financing.
A rental property business is a great way of earning a passive income. It can help you have great finances if you go about it in the right way. The rental property market stood at a size of 174.2 bn dollars in the US in 2021. And with the subsiding pandemic isn’t about to shrink any time soon. Now, if you are planning to become a landlord, you might need just one thing before you start your business. A business plan. A business plan would become a guide in your business journey. It would also make your journey a less difficult and successful one. So, if you are ready to start your business, read on to find out all about a rental property business plan.
If you are planning to start a new handicraft business, the first thing you will need is a business plan. Use our sample Moore Products - Handicraft Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new handicraft business, spend as much time as you can reading through some examples of retail store-related business plans.
Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Moore Products - Handicraft Business Plan for you to get a good idea about how perfect a handicraft business plan should look like and what details you will need to include in your stunning business plan.
This document provides guidance on writing an effective business plan in 3 sections: the business, marketing, and financials. It recommends including key details about the business's legal structure, products/services, management, location, and marketing strategy. The financial section should include projections, sources and uses of funds, cash flow statements, and balance sheets. Supporting documents like resumes and contracts are also important. The overall goal is to concisely communicate the business concept and financial needs to potential lenders or investors.
If you are planning to start a new Plant Nursery business, the first thing you will need is a business plan. Use our Nature Box - Plant Nursery business plan example created using upmetrics business plan software to start writing your business plan in no time. Before you start writing your business plan for your new Plant Nursery business, spend as much time as you can reading through some samples of Farm and Food Production Business Plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans. We have created this sample Plant Nursery business plan for you to get a good idea about how a perfect Plant Nursery business plan should look like and what details you will need to include in your stunning business plan.
If you are planning to start a new nail salon business, the first thing you will need is a business plan. Use our sample Finger Art - Nail Salon Business Plan created using upmetrics business plan software to start writing your business plan in no time. Now you might wonder, how can a business plan help you gain a competitive edge? How can you juggle between honing your skills and formulating a business strategy? Most importantly how to write a nail salon business plan and what to include in it?
The simple business plan template is based on Ash Maurya's lean canvas. If you need to write a business plan quickly or if your business is fairly simple and straightforward to explain, use our simple business plan template to write your business plan easily. Each section of a simple business plan is a quick summary and should not be longer than one page.
This simple business plan is not the detailed business plan that is being used to secure funding or loan. This simple business plan avoids long-worded summaries and detailed information about the business. This simple business plan is not even a document. It’s a collection of lists, tables, and bullet points of important aspects of your business strategy and management.
However, whenever there is a need for a formal business plan, this simple business plan can be an excellent first draft. Add descriptions and fill in the required information, make sure you have all the key business plan components, and you have the formal business plan ready that you need.
SAAS Business Plan Example - CRM softwareupmetrics.co
Having a strong business plan for a SaaS startup is critical for success. Every business needs a strategy and plan that when implemented delivers a strong foundation, and this holds true for a software as a service startup as well.
According to a report published in The Gartner CRM Guide, more than 50 percent of CRM is deployed as SaaS, and the number continues to grow at a rapid rate.
While Saas as a business delivers high value to customers with high ROI, a startup in this domain needs to be executed right from the very beginning, and only a well-written business plan can help you get started, as well as sustain in this competitive market.
If you are tempted to jump in and develop your own Software as a Service business, the below tips on how to write a business plan for a SaaS startup will help you achieve your goals.
The document presents a business plan for a proposed tire shop called Maxwell Tire Shop, Inc. that will be located in Detroit, Michigan. The business plan outlines the company's mission to satisfy customer demand for quality tire products at a fair price. Financial projections estimate that the tire shop will have annual sales of nearly $1 million in year 1, growing to over $2.7 million by year 3, and will break even on a monthly basis after selling around 5,500 tires per month.
If you are planning to start a new marijuana business, the first thing you will need is a business plan. Use our MariMed - Marijuana business plan example created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing a business plan for your new marijuana business, spend as much time as you can reading through some samples of the marijuana business plans.
The easiest way to simplify the work of writing a business plan is to start with a sample business plan template. Our sample business plan template includes step by step guide on how and what you need to include in your winning business plan. In this sample business plan template, we have included help and guidelines about the purpose of each section and how to complete that particular section. Our business plan software and this template will save entrepreneurs critical time and make their business plan writing experience a lot easier. A standard business plan consists of a single document consists of several segments including a description of the company, customer pain problem, your solution including product or services, market research, marketing strategy, competitor analysis, sales strategies, funding requirements, and financial data. If you are looking for a business plan template for a particular industry, you can browse our sample business plans and find a business plan example specific to your industry.
If you are planning to start a new solar farm or energy business, the first thing you will need is a business plan. Use our sample Maxwell Technologies - Solar Farm Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new solar farm, spend as much time as you can reading through some examples of manufacturing-related business plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Maxwell Technologies - Solar Farm Business Plan for you to get a good idea about how a perfect solar farm business plan should look like and what details you will need to include in your stunning business plan.
Marketing Plan For Small Businesses and Entrepreneurs upmetrics.co
If you are looking to expand or grow your business, the first thing you will need is a marketing plan. Use our marketing plan template which is created for small businesses, to start writing your marketing plan in no time.
Before you start writing a marketing plan for your business, spend as much time as you can reading through some samples of marketing plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their marketing plans and goals.
We have created this small business marketing plan template for you to get a good idea about how a perfect marketing plan should look like and what details you will need to include in your winning marketing plan.
ABC International Inc. provides a business plan for a new company focusing on strategy, management team, market, and offerings. Key financial projections estimate annual revenue and expenses over five years. The plan requests funding and describes plans to use funds to grow the business and repay investors.
Writing a 30-page long business plan can look like a huge hassle if you are just starting with your business. You might even feel like skipping the planning process altogether. But you don’t have to. There’s a quick and easy solution to your problem. A one page business plan. With the help of a page-long plan, you’ll neither have to spend days planning your business nor skip the planning process completely. A business plan can be of great help to your business, and a one-page plan can become your plan’s foundation as you expand your business.
1) The document is a business plan for launching a t-shirt business called Unique Corner that will sell polo and couple t-shirts.
2) It analyzes the current marketing situation including demographics, competitors, and buying behaviors. It also provides a SWOT analysis identifying strengths, weaknesses, opportunities, and threats.
3) The objectives are to become the premier custom shirt service and achieve profitability within 12 months. A marketing strategy and budgets are outlined to advertise through magazines, events, and social media.
This document discusses the evolution of 5G technology. It provides an overview of the basic 5G architecture, which includes the Open Wireless Architecture (OWA) for layers 1-2, mobile IP for the network layer, the Open Transport Protocol (OTP) for layers 3-4, and an intelligent application layer. Some key features of 5G are high bandwidth up to 1 Gbps, low latency, high resolution for mobile devices, and global connectivity. Advantages include ultra-fast speeds, dynamic access to information, and availability at a low cost.
The document summarizes an evaluation of using text walls to encourage interactivity in higher education classrooms, particularly for shy students. It found that text walls allowed shy and reluctant students to contribute more freely and build confidence in a safe anonymous environment. More confident speakers who are used to dominating discussions found them less useful, but recognized they provided more varied responses. The anonymous feature was universally popular. Text walls were most helpful as a recap tool for law students accustomed to less interactive lectures. Capturing student feedback through the text wall helped evaluate learning outcomes.
If you are planning to start a new thrift store, the first thing you will need is a business plan. Use our sample Maxwell - Thrift Store Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new thrift store business, spend as much time as you can reading through some examples of retail store-related business plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Maxwell - Thrift Store Business Plan for you to get a good idea about how a perfect thrift store business plan should look like and what details you will need to include in your stunning business plan.
A business plan is often a way to assure investors that your business is a good investment for their money. A business plan also puts all your thoughts, goals, ideas, and structure down on paper. If you are serious about your business and investment, a full informal business plan is a must. But, what if you just need your ideas mapped out before getting serious about your business? what if you want to write a business plan just for yourself to get clarity about your business and vision? This mini business plan template is sufficient to describe your business and it keeps you focused on your business goals without wasting your time on writing long stories about your business.
Commercial Refreshment Corner (Entrepreneur Final Plan)Qasim Raza
The document is a business plan for a commercial refreshment corner business in Pakistan. It will offer food items like Dahi Bhally, Samosas, and Finger Chips. The business is a partnership between 5 individuals. The plan outlines the business description, aims to provide quality food at low prices compared to competitors. It discusses suppliers, the target market of students and families, competitors in the area. The financial objective is to achieve sales of Rs. 8000 on the first day and break even in the second day. The operations, marketing strategies, SWOT analysis and financial projections are explained over subsequent sections.
This document outlines the key components of a business plan, including objectives, roadmap, planning process, and section details. It discusses that a business plan defines the venture, is read by investors and lenders to evaluate the opportunity, and acts as a guide for management. The document provides guidance on writing each section, such as describing the industry, market opportunity, operations, marketing strategy, management team, finances, and risks. It emphasizes that an effective business plan integrates different business functions and addresses the concerns of various stakeholders to communicate the vision and increase chances of securing financing.
A rental property business is a great way of earning a passive income. It can help you have great finances if you go about it in the right way. The rental property market stood at a size of 174.2 bn dollars in the US in 2021. And with the subsiding pandemic isn’t about to shrink any time soon. Now, if you are planning to become a landlord, you might need just one thing before you start your business. A business plan. A business plan would become a guide in your business journey. It would also make your journey a less difficult and successful one. So, if you are ready to start your business, read on to find out all about a rental property business plan.
If you are planning to start a new handicraft business, the first thing you will need is a business plan. Use our sample Moore Products - Handicraft Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new handicraft business, spend as much time as you can reading through some examples of retail store-related business plans.
Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Moore Products - Handicraft Business Plan for you to get a good idea about how perfect a handicraft business plan should look like and what details you will need to include in your stunning business plan.
This document provides guidance on writing an effective business plan in 3 sections: the business, marketing, and financials. It recommends including key details about the business's legal structure, products/services, management, location, and marketing strategy. The financial section should include projections, sources and uses of funds, cash flow statements, and balance sheets. Supporting documents like resumes and contracts are also important. The overall goal is to concisely communicate the business concept and financial needs to potential lenders or investors.
If you are planning to start a new Plant Nursery business, the first thing you will need is a business plan. Use our Nature Box - Plant Nursery business plan example created using upmetrics business plan software to start writing your business plan in no time. Before you start writing your business plan for your new Plant Nursery business, spend as much time as you can reading through some samples of Farm and Food Production Business Plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans. We have created this sample Plant Nursery business plan for you to get a good idea about how a perfect Plant Nursery business plan should look like and what details you will need to include in your stunning business plan.
If you are planning to start a new nail salon business, the first thing you will need is a business plan. Use our sample Finger Art - Nail Salon Business Plan created using upmetrics business plan software to start writing your business plan in no time. Now you might wonder, how can a business plan help you gain a competitive edge? How can you juggle between honing your skills and formulating a business strategy? Most importantly how to write a nail salon business plan and what to include in it?
The simple business plan template is based on Ash Maurya's lean canvas. If you need to write a business plan quickly or if your business is fairly simple and straightforward to explain, use our simple business plan template to write your business plan easily. Each section of a simple business plan is a quick summary and should not be longer than one page.
This simple business plan is not the detailed business plan that is being used to secure funding or loan. This simple business plan avoids long-worded summaries and detailed information about the business. This simple business plan is not even a document. It’s a collection of lists, tables, and bullet points of important aspects of your business strategy and management.
However, whenever there is a need for a formal business plan, this simple business plan can be an excellent first draft. Add descriptions and fill in the required information, make sure you have all the key business plan components, and you have the formal business plan ready that you need.
SAAS Business Plan Example - CRM softwareupmetrics.co
Having a strong business plan for a SaaS startup is critical for success. Every business needs a strategy and plan that when implemented delivers a strong foundation, and this holds true for a software as a service startup as well.
According to a report published in The Gartner CRM Guide, more than 50 percent of CRM is deployed as SaaS, and the number continues to grow at a rapid rate.
While Saas as a business delivers high value to customers with high ROI, a startup in this domain needs to be executed right from the very beginning, and only a well-written business plan can help you get started, as well as sustain in this competitive market.
If you are tempted to jump in and develop your own Software as a Service business, the below tips on how to write a business plan for a SaaS startup will help you achieve your goals.
The document presents a business plan for a proposed tire shop called Maxwell Tire Shop, Inc. that will be located in Detroit, Michigan. The business plan outlines the company's mission to satisfy customer demand for quality tire products at a fair price. Financial projections estimate that the tire shop will have annual sales of nearly $1 million in year 1, growing to over $2.7 million by year 3, and will break even on a monthly basis after selling around 5,500 tires per month.
If you are planning to start a new marijuana business, the first thing you will need is a business plan. Use our MariMed - Marijuana business plan example created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing a business plan for your new marijuana business, spend as much time as you can reading through some samples of the marijuana business plans.
The easiest way to simplify the work of writing a business plan is to start with a sample business plan template. Our sample business plan template includes step by step guide on how and what you need to include in your winning business plan. In this sample business plan template, we have included help and guidelines about the purpose of each section and how to complete that particular section. Our business plan software and this template will save entrepreneurs critical time and make their business plan writing experience a lot easier. A standard business plan consists of a single document consists of several segments including a description of the company, customer pain problem, your solution including product or services, market research, marketing strategy, competitor analysis, sales strategies, funding requirements, and financial data. If you are looking for a business plan template for a particular industry, you can browse our sample business plans and find a business plan example specific to your industry.
If you are planning to start a new solar farm or energy business, the first thing you will need is a business plan. Use our sample Maxwell Technologies - Solar Farm Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new solar farm, spend as much time as you can reading through some examples of manufacturing-related business plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Maxwell Technologies - Solar Farm Business Plan for you to get a good idea about how a perfect solar farm business plan should look like and what details you will need to include in your stunning business plan.
Marketing Plan For Small Businesses and Entrepreneurs upmetrics.co
If you are looking to expand or grow your business, the first thing you will need is a marketing plan. Use our marketing plan template which is created for small businesses, to start writing your marketing plan in no time.
Before you start writing a marketing plan for your business, spend as much time as you can reading through some samples of marketing plans. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their marketing plans and goals.
We have created this small business marketing plan template for you to get a good idea about how a perfect marketing plan should look like and what details you will need to include in your winning marketing plan.
ABC International Inc. provides a business plan for a new company focusing on strategy, management team, market, and offerings. Key financial projections estimate annual revenue and expenses over five years. The plan requests funding and describes plans to use funds to grow the business and repay investors.
Writing a 30-page long business plan can look like a huge hassle if you are just starting with your business. You might even feel like skipping the planning process altogether. But you don’t have to. There’s a quick and easy solution to your problem. A one page business plan. With the help of a page-long plan, you’ll neither have to spend days planning your business nor skip the planning process completely. A business plan can be of great help to your business, and a one-page plan can become your plan’s foundation as you expand your business.
1) The document is a business plan for launching a t-shirt business called Unique Corner that will sell polo and couple t-shirts.
2) It analyzes the current marketing situation including demographics, competitors, and buying behaviors. It also provides a SWOT analysis identifying strengths, weaknesses, opportunities, and threats.
3) The objectives are to become the premier custom shirt service and achieve profitability within 12 months. A marketing strategy and budgets are outlined to advertise through magazines, events, and social media.
This document discusses the evolution of 5G technology. It provides an overview of the basic 5G architecture, which includes the Open Wireless Architecture (OWA) for layers 1-2, mobile IP for the network layer, the Open Transport Protocol (OTP) for layers 3-4, and an intelligent application layer. Some key features of 5G are high bandwidth up to 1 Gbps, low latency, high resolution for mobile devices, and global connectivity. Advantages include ultra-fast speeds, dynamic access to information, and availability at a low cost.
The document summarizes an evaluation of using text walls to encourage interactivity in higher education classrooms, particularly for shy students. It found that text walls allowed shy and reluctant students to contribute more freely and build confidence in a safe anonymous environment. More confident speakers who are used to dominating discussions found them less useful, but recognized they provided more varied responses. The anonymous feature was universally popular. Text walls were most helpful as a recap tool for law students accustomed to less interactive lectures. Capturing student feedback through the text wall helped evaluate learning outcomes.
Marketing Plan for Metro Bikes Company to increase sales revenue and profit margin. Also tap the US market and generate the sales of 50000-100000 bikes in 3 years.
Ahmed Mokhtar is applying for an open position at the company. He has over 6 years of experience working in finance and accounting roles, currently as an Accounting Supervisor. He believes his academic and practical background in accounting can benefit the company. He is looking for opportunities to utilize and develop his skills while gaining new knowledge and experience.
The document provides an overview of biosimilars and non-innovator biotherapeutics in India. It discusses that India has a large population with limited access to expensive biologic drugs. This has led Indian companies to develop "copy" or non-innovator versions of biologics through an abbreviated approval process. Over 50 such products are now approved or in development. The regulatory process in India differs from WHO and EMA guidelines by not requiring comparative clinical trials or testing against reference products. Non-clinical and Phase III clinical trials are required. The biologics industry in India is an important supplier of more affordable versions of biologics to address healthcare needs.
This document discusses the website www.creativeblogthinking.com and mentions Google Adsense. The website www.creativeblogthinking.com is referenced multiple times. Google Adsense is also referenced while discussing monetizing a blog through ads.
We Aspen adventures is an award winning Agenacy provides Luxurious Camps in rishikesh, Rafting Camp in Rishikesh, Rafting in Rishikesh, Camping Rishikesh with best of hospitality services, Rishikesh Rafting, Rafting Rishikesh.
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Trip to Kerala tour package offers to visit the all lovely, romantic and amazing places including of beaches, waterfalls, backwater, hill stations, wildlife sanctuary etc with a affordable budget.
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1) Using video cameras on a robot allows it to find and determine the direction and distance to targets through techniques like masking and shape recognition.
2) Masking provides an image of only the target object, like a flag, which can then be used to determine distance from the robot from 2 feet away and further. Cameras can also pan and tilt to extend the visual range.
3) Pattern recognition software in 2010 identified a bullseye target above the goal by analyzing the video image and returning data on the target's position, score, and angle offset based on the radius ratios.
El documento narra la historia de Juan, un hombre que sufre un accidente al cruzar una calle distraídamente. Otras personas lo llevan al hospital donde permanece inconsciente. Un desconocido lo ayudó a llegar al hospital y se queda a esperar noticias sobre su estado. Juan despierta después confundido sobre lo sucedido, dando gracias a Dios por salvar su vida.
Goggle Adsense is contextual advertise systems for blog or websites that is operated by Google.
http://creativeblogthinking.com/quick-reference-of-google-adsense/
Pluto is a reddish brown dwarf planet that is smaller than its moon, has one moon, and was named after an 11-year-old girl from Oxford despite no longer being classified as a true planet due to its small size.
This one sentence document provides a date and number, March 23, 2015 and 20,469, but does not provide any context to explain the meaning or significance of this information.
Socially Responsible Marketing (SRM) involves businesses considering social and environmental impacts in their marketing strategies. SRM can benefit companies by improving brand image and increasing sales. Examples of SRM include Toyota marketing hybrid vehicles to reduce carbon emissions and Timberland ensuring fair working conditions. However, SRM also faces challenges like consumers not prioritizing social issues and false eco-friendly claims. Companies must balance social responsibility, profits, and stakeholder interests through SRM.
Engineering Economics and EngineeringUnit-5.pdfsomnathmule3
This document provides an introduction to marketing concepts. It defines marketing as identifying and meeting human and social needs through creating and exchanging products. The objectives of marketing are to satisfy consumer and business needs/wants and provide value and satisfaction. Marketing involves the 4Ps - product, price, place, and promotion. It also discusses other concepts like needs, wants, demands, market segmentation, targeting, positioning, brands, and marketing philosophies from production to societal marketing.
Charron 2
Charron 7
Samantha Charron
Principles of Marketing
Northern Vermont University
March 6,2021
Marketing is the key part for the success of any business and it’s very crucial for a business owner to understand which customers to target and implement strategies that will ensure winning of new customers. Environmental analysis is a strategic analysis that assists a business owner to identify internal and external environmental factors that may impact a business's ability to conduct its tasks properly. The environmental analysis is mandated to assess the business external environment to find out threats and opportunities of the business and after the evaluation, the business owners develop strategies that respond to the environment.
Executive summary
In my residential area, there is no clothing shop for youths, and Value worth clothing is a business that will fit the area. I have seen a similar business in our nearby city and I have thought of investing in the business in our area as it will be a great opportunity for my business as there is no other business that offers or sells products similar to a value worth clothing business.
Environmental analysis
The value worth clothing (Murphy, 2019) was established as a retail clothing company has evolved into the marketer of high-quality clothing and it deals with sports clothing such as cotton T-shirts, baseball caps, fleece jackets, and vests. It also deals with selling sports footwear, apparel, equipment, accessories. The value worth clothing sells clothes for both women and men and also clothes for young children for sporting and casual wear. I have decided to establish this type of business in my residential area due to the increase in demand for sporting clothing that has been contributed by the construction of an international sporting center that attracts many people all over the country and international wise (Murphy, 2019).
Marketing environment
i. Competitive forces: competition within the sporting clothing industry is very strong and counterfeited attires have emerged in the market offering cheap priced products that make other original products have challenges as customers go for cheap rated products. As a business owner, (Murphy, 2019) one has to come up with his/her strategies to ensure products are appealing to the customers. Value worth clothing has been using a product differentiation strategy to market its products to its customers. We have ensured that our products are unique from those of our competitors. We have introduced climate control clothing such as t-shirts that make athletes feel like a second skin. We also have breathable fabrics that are very crucial during the summer seasons (Murphy, 2019).
ii. Economic forces: Nationwide, many business owners and companies can experience both positive and negative economic factors in the sporting clothing businesses. During the peak phases of the business, many businesses experience more disposable inco ...
Rajan Saxena - Marketing Management-Mc Graw Hill India (2015) (1)-436-461 (1)...SruthiSruthika
LO1 - Advertising plays a role in brand building through creating awareness, developing favorable attitudes, and potentially generating trial and purchase if supported by other elements of the marketing mix. However, advertising has a limited role and must be part of an overall marketing strategy and plan.
LO2 - The institutional framework for advertising includes advertisers, advertising agencies, media, and market research. Government policy also influences advertising decisions. Major advertisers in India include Hindustan Unilever, Cadbury, ITC, and Procter & Gamble. Leading advertising agencies operating in India are Ogilvy, McCann, Lowe Lintas, and JWT.
LO3 - Advertising decisions must be based on problems
Sales promotion is a tool used in integrated marketing communications to boost sales and attract new customers. It allows companies to temporarily lower prices to gain customers without incurring losses. Sales promotions influence trade and consumer behavior by increasing customer numbers, sales, attracting new customers, and rewarding loyal ones.
The document discusses several topics related to brand management including:
1. There are around 500,000 recognizable brands worldwide.
2. Brand managers are responsible for ensuring products and services resonate with customers through monitoring trends, competitors, and maintaining relationships.
3. The strategic brand management process involves identifying brand positioning, implementing marketing programs, measuring performance, and growing brand equity over time.
The document outlines various roles involved in developing a positive corporate image. The General Manager and Directors should prioritize enhancing the company's image through regular customer communications. The Customer First Manager is responsible for developing and implementing the corporate image strategy. The Communications Officer inputs into the strategy and disseminates relevant information. Staff members are also crucial as they directly interact with customers and stakeholders, reflecting on the organization.
McDonald's continually aims to build its brand by listening to customers and understanding their needs through market research. This involves identifying key customer groups, analyzing factors that influence their purchasing decisions, and determining the optimal marketing mix of product, price, place, and promotion to meet the needs of each group. McDonald's then creates a marketing strategy and objectives, developing campaigns that use various promotional methods like advertising, to effectively communicate with customers and encourage actions like purchases or visits that grow the business. Market research also allows McDonald's to flexibly adapt its approach as customer preferences and the competitive landscape evolve over time.
Cold-Calling is a marketing technique where the companies only call people over the telephone and offer them services. The individuals who were formerly unaware of the organization might have their attentiveness settled by the call.
The document argues that the concept of marketing should be broadened beyond business organizations to include non-profit organizations. It provides examples of how non-profits like churches, schools, and museums have "products" in the form of services, ideas, or causes that they aim to promote to certain "customers" or constituencies. The author contends that non-profits could apply basic marketing principles used by businesses, such as improving their product, setting prices, distributing their offerings, and communicating their message, in order to better achieve their missions and attract support. Broadening the view of marketing in this way would help non-profits serve their customers and build loyalty more effectively.
This document discusses various aspects of corporate communication including its scope, relevance, and key concepts. It provides definitions and explanations of corporate identity, image, and reputation. It discusses the importance of ethics and various media laws related to corporate communication. Specifically, it notes that corporate communication involves developing and maintaining a corporate identity or brand image. It also highlights managing reputation, creating communication models, and building brands as key aspects of corporate communication.
Here are four clear paths for winning over—and retaining—customers in the digital era. For more from s+b, see: http://www.strategy-business.com/marketing_media_sales.
The main thesis of this article is that several long term trends are reshaping marketing and forcing marketing managers to change radically to keep up. These long term trends are technological, socioeconomic and geopolitical. The future landscape of the business worldwide will have the marketing evolutions as a driver. These evolutions will be the response to the changes of business and marketing environment. How we see the future depends partly on our current perspective. A research oriented visionary will detail what the future brings for researchers. A technology oriented one describes the wonders of coming technologies. Marketing managers are likely concerned with future developments in their specific areas of responsibility i.e., advertising and promotion, branding, or supply chain . Academics likely look for the hot new research topics. S. Balaji | A. Jayaprakash | K. Prabhakaravarman "The Future Trends on Marketing" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-5 , August 2020, URL: https://www.ijtsrd.com/papers/ijtsrd33107.pdf Paper Url :https://www.ijtsrd.com/management/marketing/33107/the-future-trends-on-marketing/s-balaji
Running Head MGM 320 Advertising and Public Relations.docxjoellemurphey
Running Head: MGM 320: Advertising and Public Relations
Developing Advertising and Public Relation-based Objectives
Enrique Ramirez
Colorado Technical University
MGM 320: Advertising and Public Relations
Every company has to have an objective for having advertising and public relations campaigns. All objectives are however tied to controlling the manner in which customers perceive the company. This paper will highlight several objectives that the advertising campaign for a bank can have. Banks are in the service industry and the perception of customers is quite important. Along the way, distinct differences between marketing of products and services will be seen.
Growing Customer Numbers
One strategic goal of a bank is to increase sales over time and increasing the level of loyalty of its customers. Increasing the revenues of the bank is achieved through two main ways. First, the company increase the number of customers it has-market share. Once this is done, the banks seeks to increase the number of services that each customer subscribes to. When a customer purchases several products from the bank besides account maintenance, it means that the bank has managed to grow their share in the customer's wallet (Zerfass & Duhring, 2012). Marketing and public relations are primarily supposed to increase revenues for a firm. The marketing messages may draw contrasts between the customer's current banker and what the company is offering. This way, customers may be convinced to change banking service providers in order to enjoy the benefits promised.
Advertising messages may also be aimed at the proportion of people that do not yet have access to banking services. In this case, the company may run a public relations exercise whereby they educate people on the benefits of having banking services (Zerfass & Duhring, 2012). The target population will subscribe to the banks services because the bank has demonstrated care and concern for their financial stability. These customers are likely to stick with the bank for the long haul even when they are in a position to purchase more than one product from the bank. This suggests that there is a need for banks to be patient with their customers because most will only be able to purchase one or two products but their financial strength grows with time.
Promoting a Positive Corporate Image
Financial institutions have a fiduciary duty to safeguard the interests of customers by managing funds deposited with them prudently. These institutions have to gain the trust of customers as a way of safeguarding their market share. The marketing messages sent out to customers therefore have to emphasize on the positive corporate governance efforts the company has in place. For instance, the company could inform external stakeholders on how and when they can access financial records of the company (Zerfass & Duhring, 2012). In case the company has received recognitions or awards for its proper manag ...
The document summarizes the key elements of a company's marketing environment, including the microenvironment and macroenvironment.
The microenvironment includes factors close to the company like other departments within the company, suppliers, marketing intermediaries like distributors and retailers, customers, competitors, and publics. The macroenvironment includes larger societal forces like demographic trends, economic conditions, the natural environment, technology, and the legal/regulatory landscape. Understanding these internal and external forces is important for developing successful marketing strategies and adapting to changes in opportunities and threats.
Umbrella Marketing Group is an international network of marketing agencies that provides research, strategy, sales support, and e-marketing services. It has over 25 marketing specialists representing clients from various industries including Coca-Cola, IBM, and Sony. Umbrella conducts trendwatching and benchmarking to help clients identify important consumer and industry trends, understand competitors, and leverage opportunities to improve results.
How To Choose the Right Digital Marketing ModelKenneth Kwan
This document discusses four digital marketing models that companies can adopt: Digital Branders, Customer Experience Designers, Demand Generators, and Product Innovators. It describes each model's focus and goals. Digital Branders focus on building brand equity and engagement through digital experiences. Customer Experience Designers aim to create superior customer experiences. Demand Generators drive online traffic and sales. Product Innovators use digital insights to develop new products and services. The document advises companies to choose a model aligned with their strategy and focus on developing the marketing capabilities needed to execute that model successfully.
The marketing and advertising arms race to create emotional appeal, generate buzz and move up brand valuation league tables, is creating a widening gap between brand strategy and business strategy. In this environment some of the once coolest and iconic brands are faltering at a game they once dominated. The key question for businesses today, is how to expose such strategic blind spots and remain relevant in the face of an evolving marketplace? This article explores one methodology and framework into just how that can be done.
3. Introduction
Ndim iBhudda is a subsidiary clothing brand of Mass Movement Industries, a textile
company based in Cape Town. The company was founded by a group of friends in
January 2012. The term “Ndim iBhudda” is adopted from isiXhosa, meaning “ I’m the
man”- an ego boosting statement relevant in all cultures. Being iBhudda a symbol of
social status, respect, honour and brotherhood. In creating the brand, the group of
bhuddas, were determined to set the benchmark, expressing the paragon of undying
friendship and fraternal camaraderie as a brand. The brand is targeted at young
males between the ages of 16-25 (for more on targeting, read targeting section
below). This segment shows promise as the youth is responsible for 18% - 35% of
the country’s GDP. Branded t-shirt companies are booming and therefore, exist a
large number of competitors. Most of these t-shirts don’t have a label but sayings
and this differentiates us as we provide a brand that is unique. MMI aims to provide
superior quality and a sense of belonging. We believe that being part of a
brotherhood of “cool kids” positions the brand very well relative to competitors in the
consumers mind.
4. Micro Environment
As MMI’s marketers seek to build relationships with customers by creating customer
value and satisfaction, the firm will be heavily affected by the micro-environment.
The micro-environment consists of the factors close to the firm whom the firm has
regular business dealings with. The development and management of the
relationships between these factors and MMI can affect costs, quality and overall
success of the organisation. These actors are; departments of the firm, suppliers,
marketing intermediaries, customers, competitors and publics. (Kotler & Armstrong,
2010). These form the firm’s value-delivering network. MMI’s marketing department
must take into consideration each of these factors when conducting its daily
operations.
The departments of MMI consist of finance, administration, human resources,
marketing, production, operations, management and research and development.
These are interrelated and form the internal environment (Kotler & Armstrong, 2010).
Top management which consists of the group members will be responsible for
setting MMI’s mission, objectives, broad strategies and policies. Lower level
managers which will be employed by the firm will make decisions within the
strategies and plans made by top management. It is crucial for our marketing
manager to work closely with the other departments of the firm as other departments
have a significant impact on the marketing department’s plans and actions.
Therefore, under the marketing concept, they must work in harmony to provide
superior customer value and satisfaction.
The suppliers of the firm provide the firm with the necessary resources required to
produce goods and services. As already noted, MMI will produce and print their own
t-shirts and Ndim iBhudda will receive its t-shirts to be printed from MMI, the
umbrella company. This means MMI will require cotton, polyester, dye and
machinery to manufacture the t-shirts. The firm’s top management has concluded to
import the necessary fabrics from either India or China as these countries are well
renowned for cost effective supplies of t-shirts resulting from their economies of
scale and cheap labour. MMI will need machines for integrated cutting, assembling
and stitching of the t-shirts. The suppliers of these machines have been identified as
JGE Electronics. Our brand Ndim iBhudda, will get t-shirts from the umbrella
5. company and purchase their printing equipment from JGE electronics as well. The
Ndim iBhudda designs will be supplied by the firms’ research and development
team. Both MMI and Ndim iBhudda will need suppliers of labour and since our
business is based in Cape Town, we will source labour from the Western Cape. It is
important that we recruit staff that is efficient and willing to work as the work can get
monotonous. It is empirical that marketing managers keep eye on supply availability-
supply shortages and delays, labour strikes and other events that can harm the
firm’s short run operations and damage customer satisfaction in the long run. Input
prices are another factor that marketing managers need to keep a close eye on,
rising supply cost may force price increases that can harm the firm’s sales volume
and customer loyalty.
Marketing intermediaries help the firm to promote, sell and distribute its products to
the final consumer. They include resellers, physical distribution firm, marketing
services and financial intermediaries (Kotler & and Armstrong). Resellers are
distribution channel firms that help the firm reach its consumers, they include
wholesalers and retailers responsible for buying and reselling the firm’s products.
MMI as the umbrella company doesn’t require any resellers. Ndim iBhudda on the
other hand will require resellers. Top management has identified the following
retailers as possible resellers for the Ndim iBhudda brand; Markham, Edgars and
Sportscene. The retailers were chosen on the basis that our competitors use these
retailers as well. Having our product on the same shelf as our competitors will aid in
attracting customers from our competitors and ensure we reach our target market.
This will also provide Ndim iBhudda with the opportunity reach other market
segments that do their shopping in these retail stores. Physical distribution firms help
the firm to stock and move the products from their points of origin to their final
destination. The firm has decided on partnering with DHL couriers for the
transportation of the t-shirts. The decision was made after considering alternative
options in terms of costs, service, speed and safety. DHL is a successful
establishment in South Africa and the partnership will reflect well on the firm,
enhancing our value in the consumers’ mind. The firm will not be seeking to
outsource any marketing aid. The marketing departing will be responsible for all
promotions and alike. The firm will use the services of financial intermediaries such
as banking, insurance and overall auditing of the firm’s financial records.
6. Customers are individuals, companies or any other entity that buy goods and
services produced by another individual, company or entity. Five types of consumer
markets exist. Consumer markets include individuals and households that buy goods
for personal consumption. Ndim iBhudda potential customers fall under this
consumer group as they seek personal value and satisfaction by purchasing the
branded t-shirt. Business markets buy goods for further processing or use in their
daily operation. MMI will mainly operate in this market, providing t-shirts for other
companies to use in their process. An example would be, creating t-shirts for a
catering company. Reseller markets purchase goods to resell at a profit. As noted
above, Ndim iBhudda will be resold by three retailers, namely; Markham, Edgars and
Sportscene. Government markets will also be a target for MMI. MMI could provide
office t-shirts or t-shirts for specific marches as required by government agents.
To be successful we understand we need to provide superior value than our
competitors do. Ndim iBhudda’s competitors include Head Honcho, David & Goliath,
Jay-Jays brand, Ama Kip Kip, Lollypops and any other self-made t-shirt design. What
sets our brand above the rest is the sense of brotherhood attached to it. People
wearing the branded t-shirt will earn social status and respect amongst their peers.
The marketing manager’s task is more than simply adapting to the needs target
consumers, he will also work towards positioning our offering strongly against
competitors’ offerings in the consumers mind. MMI on the other hand face a fierce
degree of competition having to compete against thousands of textile companies in
South Africa. To gain competitive advantage, MMI will produce and print t-shirts of
greater quality at lower cost as a result of cheaper imported fabric.
The firm’s micro-environment also consists of publics. A public is any group that can
potentially impact the firm’s ability to achieve its objectives. Financial publics may
affect the firms’ ability to obtain funding. Media publics will be used for the benefit of
the firm, by advertising in magazines and editorials. This will create customer
awareness and in turn attract more customers. Government publics will provide rules
and regulations on product quality and safety that we will need to comply with.
Failing to comply may have severe implications. The firm doesn’t stand to be
affected any Citizen-action groups or local publics. Having created a facebook page
for the brand, it has been observed that the general public reacts positively and with
great interest in the t-shirt. Management will work towards keeping communication
7. as clear as possible in the office to ensure internal publics reflect positively on the
business.
The Macro Environment
“The actors and forces outside marketing management’s ability to build and maintain
successful relationships with target customers” (Kohler. Armstrong, 2010). These
consist of forces such as technological, natural, economic, demographics, political
and cultural. As marketers we need to keep a close eye on the macro environment
because they have an effect on the business performance and the business’s
perception.
Demographics refers to the study of human populations in terms size, age, density,
location etc. Our company specifically targets “Generation Y” which are recent
graduates . They are impatient and want things now but also live life on the edge .
They are very self-orientated and respond well to marketing because they can be
reached by all technological means. We are specifically targeting youngsters from
the age of 16-25 which caters for school leavers all the way to people who are new
in the workplace. The location of the business is vital because we need to be easily
accessible for the target market so the business is situated in big cities such as
Durban, Cape Town and Johannesburg. These cities have a lot of university
students and creates a vibe for the brand.
Economic forces are the factors that affect the consumers buying power. The
purchasing power of the youth has increased immensely over the past ten years and
now account to about most of the Gross domestic product of the country so the
product should be successful . The threats we face is that a large population of the
country is poor and thus the company cannot be as prosperous as it could be.
Changes in income and the rise of the black middle class from the 90s to now shows
a positive sign for business success. Changing spending patterns could pose a
challenge or benefit to the business because as we move out the recession then
people will be more relaxed to spend more but some consumer’s confidence is low
so they will still withhold on spending.
The natural environment involves the natural resources that are needed as inputs or
that are affected by marketing activities. Our biggest concern is the cotton that is
8. used for production of the t-shirts which has no sign of depletion in the foreseeable
future so the company is not under threat.
Technological environment deals with the changing technology and how the
business must respond to these changes. This is the most important force which will
set us apart if we are able to move on with the times and use technology to provide
innovative designs that undercut our competition. Since we are a trendy brand then
technology will have to be at the forefront of our business. Create our own online
store to have a say what they like and what they don’t like and how the business can
change and improve.
Political force-“Laws, government agencies and pressure groups that influence and
limit various organisations and individuals in a given society “ (slides). This force
does not affect our company too much but labour laws such as minimum wage can
stagger the business growth because of heightened expenses . There is also public
policy that limits business for the good of society as a whole. Luckily the product that
the company provides doesn’t get additional tax on it such as tobacco and other
products which government wants to limit. There is an increased emphasis on ethics
and socially responsible behaviour and the legislation might require the business to
contribute to the welfare of the community in the early stages of commencement
which obviously has a bad effect on business. Social responsibility has an
opportunity attached to it because then the business has a chance to make the
brand visible by gaining the goodwill of the community.
The cultural environment is made up of institutions and other forces that affect a
society’s basic values, perceptions, preferences and behaviours. Our biggest
concern with our brand is the fact that some people may be offended and see it as a
mockery of the Buddhism (The Religion) because of the Ndim iBhudda logo but the
meanings are very different to what Buddhism stands for and there is no correlation
between the two. If people find it offensive then they can refrain from buying the
brand and the word can get out and we can lose customers. We do not want to
create a brand that discriminates a few, but for everyone whose trendy and young
and they must feel comfortable enough with the brand to perceive it as their own. We
are appealing to people’s views of themselves as a business and are trying to
9. identify the dream chasers and high spenders and get them to be a part of the brand
and from there we can grow it.
Research Implementation
The term “Bhudda” is one that many people outside of southern black african
settlements and areas might not be too common with. In asking around many did not
interpret it the way we at MMI desired it to be. After explaining the core meaning of
the term and what the Ndim iBhudda brand entailed we conducted a survey
investigating the viability of the product.
18 people were interviewed and asked a number of questions regarding their
thoughts about Ndim Bhudda. The 18 are all male and all are in the age group that
we are targeting. We made sure our group consisted of people from different areas,
races and backgrounds but all keeping within the targeted segment. The results of
this survey follow.
The reaction to the product was rather good with just above 67% of the people
surveyed seeing the product as useful and desirable. More than 75% of the people
surveyed have purchased products which are going to be the closest competitors of
our product. This is good as it shows us that our target market is purchasing where
we expect it to. The logo of the product received a positive response as everyone
surveyed mentioned it as one of the reasons they’d buy the brand.
All of the people surveyed think that the product should not be sold at prices
equivalent to its closest competitors with market penetration being listed as one of
the reasons. The product was mostly viewed as inferior to the closest competitors
with the biggest reason listed being that it was brand new and rather unknown.
The product therefore received a mostly positive response and we at MMI will of
course work on turning all the negatives into positives in good time.
We also conducted a survey looking into the viability of MMI providing a t-shirt
printing service. 13 individuals from many walks of life were interviewed this time and
the results are as follows.
Everyone showed great interest in the service after hearing it and its features
described. The price expected for the service ranged from R40 to R80 per unit
depending on the kind of project being undertaken. We noticed that the people that
expected the price to be higher also understood the service being offered and knew
what they wanted from it more thoroughly than those expected a cheaper price.
10. 70% of the people would rather access the service by means of distant
communication such as telecommunications and mail. The rest preferred to deal with
the main office directly. This was surprising as we had mentioned that DHL would be
delivering every order made but it was noted even so. From the survey we realised
that our service would gain business from many types of people but he biggest
business would come from businesses and organisations. Groups of university
students are also expected to print t-shirts a lot.
The survey showed us that individuals rarely print t-shirts and do it mostly with sports
replica. Groups however seemed to print t-shirts a lot more regularly and should be
focused on. All the people surveyed said they knew of other printing companies but
that it was hard to differentiate between them since there are so many.
The t-shirt printing company received a good response but has a lot of competition
and should work hard to differentiate itself in order to become more profitable than its
competitors.
11. Segmentation
The Ndim ibhudda brand aims to be more than just clothing brand. It is an extension
of the person you are. It is a way of bringing young people together. We want the
Ndim ibhudda brand to represent our consumer and who our consumer wants to be.
The Ndim ibhudda brand is aimed at and driven by the youth. Young people with big
dreams who share their lives with their friends. The youth are dynamic, flexible and
unique and this is the ethos on which this brand is run. We want to be able to treat
each customer as an individual which is why we are stepping away from mass
marketing our products to the general public and are instead opting for a more target
marketing approach.
Before we can start selling and marketing our t-shirts we need to have an idea of the
type of people we want purchasing our brand. Market segmentation is when you
divide a market into smaller groups with distinct needs, characteristics or behaviours
who might require separate products or marketing mixes. Choosing the consumers
we are interested in required a bit of research and knowledge of the country and the
environment we live in. We used 4 different segmentation techniques to separate our
market.
Geographical Segmentation
We chose consumers who are situated in cities and urban areas because they are
closer to our stores.
Demographic Segmentation
We chose consumers who are young and who earn a high level of income. Most of
the customers for t-shirts are male.
Psychographic Segmentation
Our product is aimed at middle class and upper class consumers. They live very
social lifestyles and want to be high achievers.
Behavioural Segmentation
We want consumers who look at quality rather that price and want to look good in
social and casual settings.
12. We have thus managed to segment our market into two separate and distinct groups
called “The VIP” and “The Baller”.
The VIP
(Thunda.com, 2012)
The lifestyle of the VIP is defined by clubbing, drinking and girls. It is the generation
of young boys and men living young, wild and free. They do a lot of partying and a lot
of socialising. Their lives are consumed by their busy academic and working lives
during the day and their fun and adventurous night lives. These consumers are
aware of the latest fashions and go out of their ways to purchase it. This segment
makes up about 60% of our consumer base. This is a very large segment and they
are very important to us at Ndim ibhudda wear, a large part of our marketing strategy
is aimed at them. There are a number of factors that define this segment.
Young males between the ages of 16-25
In university or are working their first jobs
Have the disposable income to purchase the latest trends and fashions
Not married
Close to their circle of friends, share the same interests and are likeminded
13. Trends spread easily amongst the VIPs and his circle of friends because they are
close and likeminded. If one member of the buys something his friends need to own
the brand as well. This gives this segment growth potential. A large proportion of
VIPs are single and unmarried so they still take fashion and the way they look
seriously. They don’t mind spending a lot of money on clothing as long as it is
trending.
The Baller
(Male Style Review, 2008)
The Baller is interested in everything that conveys their success and social status.
They are defined by the “Yuppie” (Young Upwardly Mobile Individuals) lifestyle. They
drive BMWs and Mercedes Bens’. The Baller only eats at the best restaurants in
town, wearing tailored suits at work and classy, comfortable clothes when relaxing.
Them and their friends have expensive tastes and prefer the finer things in life. This
segment makes up about 30% of our consumer base.
14. Young men and women between the ages of 23 and 35
Work in large businesses
Live in large cities
Have a lot of disposable income to spend on their clothing
Want to be unique
The people in this segment are competitive and have a deep desire to be the best. If
they see their peers and colleagues wearing a certain brand they will buy it as well
just to fit in.
Below is a graph that shows the different age groups we are interested in and the
amount of them that earn an income of above R10000. This graph should explain the
number of people we expect to make up our two market segments.
(Eighty20, 2003)
0
50000
100000
150000
200000
250000
300000
350000
400000
450000
Don'tknow
Refused
R16000-R17999
R20000+
Don'tknow
Refused
R10000-R11999
R20000+
Don'tknow
Refused
R10000-R11999
R12000-R13999
R14000-R15999
R16000-R17999
R20000+
Don'tknow
Refused
R10000-R11999
R12000-R13999
R14000-R15999
R16000-R17999
R20000+
15-19 20-24 25-29 30-34
Population statistics (Source:SABC PeoplePanel, 2003)
Total
15. Targeting
“Market targeting is the process of evaluating each market segment’s attractiveness
and selecting one or more segments to enter”(Kotler and Armstrong.2010)The aim of
our t-shirt design company is to create a brand that is identifiable and that can be
recognized by the consumer. We also want to create a brand that is perceived as
being a high class product and that only the elite of the elite consumers invest in this
brand. Other consumers look up to consumers with this brand and they also wish to
invest in this brand and so they save , get jobs , do everything possible to be seen
with this brand so that they can also be seen as successful and an elite consumer
that has worth. Because of this fact we are targeting two segments of our market.
The VIP: These consumers who enjoy the good life. They are the socialites, party
people, clubbers, everyone who knows how to have a good time. They spare no
expense at having a good time whether it’s clubbing or being at parties. They have
money to spend on having and feeling good.
The Baller: These are the consumers who have money and who form part of the
wealthy in our country. They live luxurious lifestyles whether it’s partying, socializing
or just relaxing, these customers go big and do everything in their lives in style and
with a bang. They have disposable income and will spare no expense in flaunting
their money and portraying their riches and success. We always see this kind of
consumer out and about. They’ll be in the lime light, in shopping malls, at parties and
social events. They are not only celebrities but are those who have riches and are
willing to spend a great deal to flaunt it.
These two segments shave been chosen because they are the correct size and have
the growth rate that our company needs for its product. These segments are not that
big as not a lot of people are willing to spend a lot on luxurious lifestyles. However
we think that we can earn the most profit by offering a product that has the quality
that these segments are attracted to. We also expect these segments to increase in
growth in the future. As more and more people are getting more and more educated
they are earning more and therefore are willing to spend more. More consumers will
move into these segments whether it's as a result of their increase in future wealth or
whether it’s the will to spend just to be recognized as being part of these segments.
16. There is also not that many competitors who have created brands and products that
are targeted to these segments. Other such competitors are scarce e.g. Ama Kip
Kip, and therefore these segments are attractive as we can make considerable profit.
These segments also have a high buying confidence as well as high buying power.
They have the power and money to afford our product and are willing to spend and
not to look at trying to bargain a deal. Our segments are also attractive because we
control quality and prices with our products. Because of the way our company is
structured we are our own suppliers and therefore we create and control quality and
prices.
We believe we can offer superior quality to these segments and they will help us in
our long-run objective in creating a strong brand that consumers can recognize and
identify with. Because we are offering our product to the elite consumers we are
conducting a Concentrated or Niche marketing g strategy. Because we are a
beginner company and have access to a limited amount of resources relatively, this
strategy is ideal for our market targeting. We are targeting the small group of people
who have money and are not afraid to spend it and who wish to flaunt their status
and worth to the rest of the world. By using this strategy we can fine tune our product
to produce a brand that these segments are willing to spend on. Because of this
niche market we can target and implement advertising strategies specific to these
segments because we know where they socialize, how they interact, where they like
to shop and where advertising will be most effective to them.
Our marketing targeting strategy allows us to produce products that will attract these
segments effectively for example The Baller will want to show off our t-shirts in many
different colors and The VIPs would want t-shirts that will stand out when they’re
having a good time like glow in the dark t-shirt for when they out in the night life.
These ideas can also be seen as part of a micro-marketing strategy that we will also
implement. Our company also offers our consumers to go on our website and
interact with the product we are going to offer them. They can say what they like,
what they don’t like and what they want in our interactive website which allows us to
tweak our products using this individual marketing strategy.
Our market targeting strategy is one that is unique and that implements many
strategies that will be effective in attracting the two segments we are aiming at.
17. These two segments will provide us with a home base to create and grow a strong
brand and company that will boost our growth to new heights without causing any
false advertising and being socially responsible.
Positioning
Product’s position:
The t-shirt designs in our business will be defined by customers on important
attributes. These important attributes are how our brand will be placed in the
customers’ minds relative to competing products. Our t-shirts will carry a new and fresh
brand image combined with only the best quality material. Our brand will “position” the
image of brotherhood and unity that is of feeling and being a part of a great new vibe
in community. The brand name of “Ndim iBhudda” refers to a sense of unity and
brother hood, and hence people who buy these new t-shirts are becoming part of a
new fashion and trend that will subside within cultures and last for years to come.
It is a sense of pride in establishing a new “culture”.
Positioning map:
A positioning map shows us customer perceptions of various brands and how they
compete against each other. The position of each circle on the map indicates the
perceived positioning by customers on two aspects. The size of each circle will indicate
the relative market share size. Our brand will be of very good quality when compared
to other competing products. Our image of brotherhood and unity also is unique in the
sense that a sense of pride will be instilled amongst its buyers.
18. Identifying possible value differences and competitive advantage:
This is an advantage over competitors gained by offering customers superior value.
Our brand will offer quality coupled with a sense of new belonging and unity with
others. Customer value is essential to build profitable relationships with the targeted
customers. Our brand must live the slogan. In order to do this our company must
differentiate and position itself through the customer’s entire experience with the firm.
Product differentiation:
Our t-shirts will be differentiated on the basis that the style and design will be new and
customer focussed. Customers also get to customize their own t-shirts with our brand,
and hence ensuring every customer satisfaction level is achieved. Our t-shirts are all
guaranteed to last, hence supporting the sustainable motive of unity and brotherhood.
Service differentiation:
19. Our services include the use of major brand stores around the country that will help
customers query anything they may want to ask. These stores offer advice to
customers and also ensure that no customer will be dissatisfied. The staff and
employees will be expertly trained as lots of investment will be made to ensure that
customers get what they want. We also make sure that our courier service with DHL
will be of the standard that normally is guaranteed with them. Failure in any service
delivery will enforce a thorough personal meeting at the customer’s discrepancy in
order to make him happier and also capture data for future awareness.
People differentiation:
As stated with our service delivery, our aim is to hire the most competent and faithful
employees and staff members. Each employee will be carefully trained to understand
customers and make them happier. Training programmes will be initiated to ensure
that our service isnever compromised. The people in our brand stores will be efficiently
equipped to serve customers, while employees in other shops will also be educated
about our products.
Image differentiation:
Our brand name of “Ndim iBhudda” is unique and customers will perceive a difference
based on that fresh and entertaining youthful image. The target market is the younger
generation, but anyone else is more than welcome to also wear our t-shirts as we do
customer specific choices. Our image of the Buddha is a friendly and big person who
holds this new power in the sense that he creates unity among those who wear the t-
shirts. We all want to be part of something and this brand conveys and supports that
idea. Quality of our t-shirts will be promised as our mission and image of unity and
brotherhood being sustainable would be wrecked without quality.
Selecting an overall positioning strategy
Why should the customer buy our brand?
Our value proposition: Creating a sense of brotherhood and unity within communities,
thereby establishing a new vibe and trend that gives one a sense of new belonging.
Possible value propositions
PRICE
20. BENEFITS
Ndim iBhudda aims to offer more for the same price. With this approach, we are
thereby attacking our competitors directly. Initially when we enter the market, in order
to penetrate the market, we will make sure that we offer discounts and promotions.
After we gain some market share we will continue to offer the same product, but at
better pricing and quality than competitors do.
In order to offer the most benefits, benefits that is superior to other companies:
Ndim iBhudda will provide high-quality t-shirts, distribute through high-quality dealers,
and advertise in high quality media. We will hire and train only the best people. We will
sell and distribute our t-shirts that have a good reputation for service. Our sales and
advertising messages will showcase our superior value that will be offered. With these
approaches our brand will be able to build a believable brand name that supports its
value proposition and mission statement.
Developing a positioning statement:
A positioning statement will include our brand’s target segment and their need, the
concept, and the point of difference. The target segment is the young, trendy and
outgoing individuals who seek for new vibes and trends. The target segments needs
new designs and are willing to pay higher prices for better trends or quality. Their need
of being a part of something is well supported by our value proposition of brother hood
and unity. The concept of our brand includes being a part of a new community or vibe
that will make one feel proud to belong in such a group. The quality offered and sense
More More for
the
same
More for
less
More Our
brand
The
same
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21. of new belonging upholds the brand name. The point of difference includes the idea
of brother hood, unity and fraternity. Our brand distinguishes itself from competitors in
that it is about creating a sense of belonging, supported by an easy to distinguish
brand name and superior quality.
In summary:
To the youthful, trendy and outgoing individuals who want a new sense of belonging
and pride within cultures, establishing one’s self with our brand.
Marketing mix
Part of how do you get to reaching your target customers is by developing an
integrated marketing mix and this should come after a firm has developed its whole
marketing strategy.” The marketing mix is a set of controllable tactical marketing
tools that the firm blends to produce the outcome it wants in the target market”
(Kotler. Armstrong, 2010). It consists of everything that the firm can do to influence
the demand of their product and all the variables in the mix can be collected in four
variables which are the product, place, price and promotion. Mass Movement
Industries has to make sure that it creates the right perception of what the brand is
about through using the marketing mix. It is another way of making that the target
customers knows exactly what to expect from the brand .
The product is the goods and services that the firm offers the target market. The
product decisions include aspects such as function, appearance and the packaging.
Ndim ibhudda t-shirts are the firms products and we offer a high quality of branded
and cool t-shirts. The t-shirt designs are trendy and are up to date with the fashion so
we can attract the correct target market. Our t-shirts have their own packages that
they come with instead of ordinary plastic bags. We make sure that customers who
buy the t-shirts get funky carrier bags to carry them with so the customer feels like
the company went the extra mile . Our t-shirts are also a status symbol and the
customer that wants to purchase them want to be elite and we cater for that need
through the stigma that comes with wearing the shirt. Our competitors have similar t-
shirts but they mainly focus on niche markets and cater for very small groups and
what the brand offers is brotherhood and every “bhudda” being together and that
22. creates a wider market. We are sure that we are providing what our consumers want
because they rate our designs online and also have a chance to make their own
designs that they would like to see. This is another way of making sure that the
company produces products that matter. The company also has another big division
in which it provides a service to individuals, governments and business entities by
designing shirts for them. Ndim iBhudda is a brand associated with quality and the
shirts have good texture which is what the customers who want their own shirts from
the company can expect. To get ahead of our competition, we include the customer
in every stage of the designing process to make sure that they get exactly what they
want and we have an open door policy whereby customers can come to see the
progress at any time in the duration of the contract. We also offer a lot of support
after the service and offer refunds if the shirts fade within the first six months
because that is how much the company prides itself on quality.
Price is the amount of money that the customers have to pay in order to purchase
the goods or service. Pricing is an important strategic issue because it is related to
the products positioning. Furthermore, pricing affects other marketing mix elements
such as product feature, distribution channels and promotion. The company firstly
analysed how much value the t-shirts bring to the customer and look further than the
quality of the t-shirt but how much the customers value the brand name. Having a
very low price is good for some customers but it sends out the wrong message about
23. the quality of the product and the target market we aiming for might refrain from
purchasing the t-shirts if anyone can afford it. The price points to base our pricing is
taken from our competitors such as Ama Kip Kip, Head Honcho etc. On average
then a t-shirt will cost about R300 which is just about the competitors’ prices. In order
to try capturing some market value we will use a tool call market penetration which is
to introduce the product at cheaper prices so people are more inclined to buying
them and increase their prices once we have captured some brand equity. We
hoping that since our target customer is pretty well-off that they are not too price
sensitive in order to make bigger profits when prices increase. We also offer loyalty
cards and discounts to regular customers and the more products you buy, the
cheaper you get them for on average. For the t-shirt design company we aim to
charge approximately R50 minimum for low cost t-shirts and prices decrease per
shirt ordered when buying in large amounts so we encourage large orders.
“Place includes business activities that make the product or service available to
target consumer” ( Kotler & Armstrong, 2010). The biggest section here is about
where the product is located and if the location is most suitable for the customers.
Ndim iBhudda will be sold mainly in the major cities which are Cape town,
Johannesburg and Durban. This is where we found most of our customers would be
based because the brand attracts the urban youth. We have our own factory shops
which sell the t-shirts at a slightly cheaper price. The shirts are also available at
Markhams, Edgars and Sportscene because this is where the target market shops
and it will be easily accessible to them. There is only one main factory which is in
Cape town wood stock and we use DHL to distribute the t-shirts across the country.
We deliver for customers who order customised designs but it comes at a
reasonable charge regarding the distance it is to get there. Offices are at the factory
to make it easier for management to be able to oversee everything that is happening
in the factory.
Promotion deals with the activities that communicate the merits of the product and
persuade target customers to buy it. This is all about advertising ourselves and the
public relations side of the business. We plan to advertise mostly to university
students by hosting events for them and selling the shirts at low prices and also plan
to use influential youngsters to wear the brand so they are associated with it and so
more customers will trust the brand. We hope to reach most of our customers by
24. internet and email because most of the market has the access to these resources
but the company will outsource the promotion to an agency that usually promotes to
the youth and understand how they respond best. The company will use promotions
at malls to attract customers that are already there and convince them to buy
Ndim’bhudda shirts. But word of mouth is the most powerful tool so we want to keep
the customers happy so they can refer the brand to others and the market share can
grow but we also promote to existing customers using bulk sms and email so they
purchase more.
Branding
Branding is about more than just a name or a symbol. It is about offering the
consumer something they don’t get anywhere else. It is about building a special
relationship with the consumer, a relationship that captures and retains customer
preference and loyalty. A brand should appeal to the consumer’s way of life and fill
up a hole that the consumer may not have realised was there. Basically a brand
should almost seem necessary to a consumer and that is what we at bhudda are
looking to achieve.
Mass Movement is a t-shirt manufacturing company that provides t-shirts that are
used to create its products and services. The Ndim iBhudda brand was labelled thus
because the term “Ndim ibhudda” is one which commands respect in many African
settlements. Ndim ibhudda aims to offer products and services that embody what
this term conveys and extend the effect of this term to a larger segment of society.
The term “Ndim ibhudda” is short and easy to remember and it will be used as the
base for the names of our products and services because of this. The term is also
extendable as will be seen with the two brands the company offers. The term can
also transfer into other language without problems as bhudda is bhudda in any
language. The brand name is in no way trying to disrespect Buddhism or Buddhists
around the world. We hope that the brand name is not an offence to anyone who
holds the name dear.
MMI had the initial idea of creating a designer t-shirt brand, Ndim iBhudda wear.
With plans for this t-shirt brand under way, MMI decided to look at brand
development possibilities.
25. Any brand looking to develop is faced with four choices, line extensions, brand
extensions, multi-brands or new brands. As in the figure above, which one of the four
choices is chosen determines whether brand name and product category change or
not. The company opted to enter a new product category but keep the brand name.
This brought about Ndim iBhudda, the brand which has given us a means to enter
and satisfy a totally different market.
MMI at the moment offers two strategic business units, Ndim iBhudda and MMI
printers. These brands are targeted at different people and both work with
completely different systems as one is a hip and trendy clothing brand whereas the
other is a t-shirt printing unit.
Ndim iBhudda wear is the initial idea that brought about the formation of MMI. MMI
offers Ndim iBhudda clothing line which at the moment offers only t-shirts. Ibhudda is
a lifestyle, a brand for a certain type of people. It is a knowledge of who you and in
wearing the brand, you pledge to remain true to that person. The brand is all this
whilst offering the customer superior quality and great value for their money. It is a
brand that expresses the beliefs and values of its customers. “I am a bhudda” is the
phrase that this brand aims to encourage.
The selection of the brand name has already been explained. It is a term that
commands respect. The designer label has been kept at just Ndim iBhudda so as to
make it easier to extend on the name when the clothing line moves on to offering
more than just t-shirts. The brand name is also a distinctive term that none of our
26. close competitors can really duplicate. The brand name is also short and easy to
remember. Though these are all pluses when considering the brand name, its
selection was based mainly on the message it embodies and aims to inject into the
veins of society, “.”
We at MMI are looking to set up our own stores as well as sell in well-known
retailers such as Markham, Edgars and Sportscene. We believe that these retailers
will preserve the image we are trying to get across and our brand, Ndim iBhudda will
merge well with the general feel of these stores. Whilst understanding that many of
our competitors also use these retailers, we trust that our brand is strong enough to
compete well and that the “bhudda way” will give us a competitive advantage in our
target market’s minds. At first Ndim iBhudda will be available in these retailers at
major cities but with the expected growth in popularity, more of these retailers will
stock our product.
Our own stores will be set up in the South African cities which are Durban,
Johannesburg, Cape Town and Port Elizabeth. We believe that our target market is
focused mainly in those regions and that is why we want to push our brand most in
those regions. We believe that we shouldn’t have too many of our own stores as we
want our brand to be more of a big city brand. Our partnership with DHL will help us
greatly in making sure that stock is always timeously delivered to the retail stores as
well as our private stores. We believe that selling at known retailers as well as
creating our own stores will bring more awareness to our product and with our own
stores we can push the bhudda image more efficiently.
Ndim iBhudda, as a hip and trendy brand that is for people who stay true to
themselves and earn respect from their peers, must be seen as thus. This we do
through having our product worn by people who are influential to our target market.
People such as Black Coffee, DJ Kent and The Parlotones. These are people we
have signed up to help us market our brand and we are confident that they will bring
in the market we desire.
We would rather not co-brand with anyone because we believe that our brand has its
own distinct message and this message is not one readily found in our industry or
anywhere else. We want to preserve this message and live it as we watch it spread
27. through society. Co-branding may be an option we consider in the future when our
brand is more established and our message has been heard.
We are pretty certain that our product will be developed soon after it is launched.
Looking at figure 1 above, development will lie on the existing side of product
category and may be on one or both sides of existing or new in the brand name
category. MMI will therefore be creating line extensions and/or multi-brands of the
Ndim iBhudda brand.
Line extensions are what the company is really aiming for. This will be more types of
clothing apparel such as jeans, jackets, shirts etc. This will allow us to meet our
customers’ variety desires and will provide those who take on the bhudda lifestyle to
have more clothing items to express themselves through. We do not want to have
too many line extensions as this will lessen the prestige of the brand by making it too
common and make it “lose its specific meaning” (Kotler & Armstrong, 2010).
Multi-brands are also an option for MMI. This would be keeping to making clothing
but selling it under a different brand name. This is not essentially what MMI wants to
do because the essence of Ndim iBhudda is the bhudda lifestyle and we are not sure
whether it would be plausible to make a new brand. Product cannibalism might
become a problem also if our new brand is similar to Ndim iBhudda. We are keeping
this type of development in mind for the future though because down the line we
might find it useful to add another brand that perhaps focuses on a different target
market. This would also help us in filling up more shelf space with the retailers we
use (Kotler & Armstrong, 2010).
All in all, we are very excited about MMI and more specifically the Ndim iBhudda
brand. We understand that even if the brand is immediately successful, which we
believe it will be, we will still have to manage it carefully and efficiently. This we will
do by continuously conveying our brand position to consumers and making sure we
do not deviate from the bhudda way.
MMI will be offering printing for the brand. MMI aims to shy away from being seen as
a high quality, viable way to print t-shirts. Such a position although seemingly
desirable can be duplicated by another brand without too much difficulty. This is why
our brand wants to be viewed as the “always on point, always on time” brand that
28. encourages you to “printing your life.” We offer our customers a brand that does
what they need when they need. This of course is done at the highest quality and at
affordable prices.
The company name, MMI is essentially to differentiate the company from the
designer brand. This name was preferred it because is easy to pronounce and
remember.
MMI is essentially about providing a t-shirt printing service. This service will be
provided to individuals, groups, companies, organisations and institutes all over the
country. Printing orders can be made through an email or a telephone call. Orders
can also be made at the MMI headquarters in Cape Town. Then MMI as a
manufacturer of t-shirts will provide the t-shirts on which Ndim iBhudda can be made.
Printed t-shirts will be delivered to the parties involved by DHL.
We have formed a partnership with DHL as they are our delivery service when t-shirt
orders are completed. DHL is a trusted logistics specialist and with their well-
established reputation for delivery efficiency we think our alliance with them can only
be profitable. MMI promises to be “always on point, always on time” and with DHL in
our corner this can be done. We trust DHL when they say “We’ll deliver your
business to the world” (DHL, 2012).
In terms of brand development, we may soon be looking at a line extension with
Ndim iBhudda also more than just printing designs onto t-shirts we could move on to
sewing designs onto t-shirts and other clothing items such as school jackets, hoodies
etc. This would most probably bring in more business for MMI and thus more profits.
We would also be satisfying a larger target market.
We believe both our brands will be successful and are excited and eager to launch
them as soon as is possible.
Integrated Marketing
“Integrated marketing is coordinating the firm’s many communication channels to
deliver a clear, consistent and compelling message about the organization and its
products.”(Kotler andArmstrong.2010)As we have said before we aim to create a
29. brand that is strong and that will be recognized by the consumer. In order to do this
we have identified two segments that we will target and we have mentioned various
strategies for targeting these segments. Overall we intend on targeting the wealthy
and those who have money to spend and who wish to show that they are an upper
class consumer. Our product will be priced in a way that indicates that our product is
not for everyone and is only for those who have luxurious lifestyles and who are
willing spend money to show that. Not every average person will be able to afford
our product and hence our product will be priced in a way that it will be an attractive
price for our segments. Also our products will be available from local stores such as
Markham’s, Edgars, Sport scene. These places are where our segments shop and
are often not affordable for the general public. By placing our product in these stores
we will make it more convenient for our target segments. All of the above concepts
try and put across the message that our product is for upper class consumers and
that our product will portray the consumer as an upper class consumer.
Because we are relatively new company we need to develop our brand and create
awareness in the eyes of the consumer. We need to create awareness for our target
market and show them that our brand is what they are looking for and that it is most
appealing to them. They need information on our brand, what it means and what our
company can offer them that no other company can. Once our consumer’s have
knowledge of the product we wish to offer them it will induce them to purchase our
product once they realize that it appeals to them. To do this we have created the
brand Ndim IBuddha, which basically means “I am the man!” This brand is in fact the
message that we will implement that will get the desired response which we wish to
attain.
The Ndim IBuddha brand creates a message that whoever wears this t-shirt is
considered the man. But the way our brand portrays this message to the consumer
is unique and different than any other brand in the market. Because of the unique
quality it has of portraying this message it creates interest in the minds of the
consumer and attracts attention because it is not a direct message we are
portraying. You have to find the message in the name. It also creates attention
because it has Buddha’s name in it, who was a famous spiritual teacher on par with
people like Gandhi. Because it includes the name of a famous philosopher that
30. almost every consumer knows, it will hold the interest of the consumer. This however
is not the purpose of the brand name.
We create desire through the appeal of the message. Our message has a positive
appeal that appeals to both rational and emotions. The consumer will identify the t-
shirt as having the desired effect of creating attention to them because of the unique
message. It appeals to the emotions through creating the impression that the product
will enhance their self worth and therefore appeals to their pride. Our message will
also have to be one that draws the conclusion of “being the man”. Because Buddha
is a religious deity and is worshipped in other religions we don’t want to offend
people in using Buddha as a symbol. We need to present a two sided argument in
order to prevent customer and competitor attacks on our brand and to prevent any
negative connotations towards our brand.
Our message needs to be communicated and we will use a combination of personal
and non-personal communication channels. In the modern world today more and
more people are communicating through technological means such as phones, I-
pads, laptops etc. We can use this to our advantage as communication of our
product and the message we are trying to convey can be done over a variety of
social networks such as Facebook, MySpace, Twitter, Mxit etc. This can spread the
word of our product through word of mouth and various blogs on the internet. This
personal communication will benefit us more because t-shirts are mainly visible
products. We also plan to use a non-personal communication such as promotional
events, billboards, and online media. Mainly we will look to events to promote our
product. As we have said our segments are outgoing people and at events it is likely
that our product will get the most recognition.
We also plan to organize DJ’s to wear our product as this will get the most attention
at parties. DJ’s are the core of a party or club and if they represent our brand we will
be able to effectively communicate our message to the outgoing people. We will also
get celebrities that are fun and outgoing to wear our products such as Radio jockeys
and TV presenters. This will portray our product as the brand to have and will soon
initiate consumers to purchases. Once people identify with celebrities in social
events with our brands it will push our product further and create a strong brand with
our segments. After our message has been portrayed to the market our consumers
31. can then go online and interact with us through our interactive website. In this way
we get feedback and more knowledge on what the customer want and we will then
refine our product even more to improve customer satisfaction.
In conjunction with getting the message of our brand in to the market we need to
promote our product and insure we have sales in our company. Our promotion view
will look at a pull promotion strategy in order to get the attention of the targeted
segments. This will cause consumers to demand our product and brand so that
shops such as Markham’s will demand more of our product to sell in their stores.
This pull strategy is effective for us in getting our brand out in to the market as we
are just beginning. We will use a combination of advertising and public relations in
our strategy.
Advertising will be restricted to magazines and also in store books in the cities that
will have our own brand stores such as Cape Town, Johannes burg, Durban.
Through this advertising we will be able to reach a large majority of our target market
and get the word out fast about the brand. Advertising is however expensive and we
will not be relying heavily on this and we’ll be looking mainly to Public relations.
Public relations will work best for us because of the segments we are trying to target.
We are trying to attract those who are out going, socialites and those who know
what’s happening in the world. Using events mainly to promote our product and
using celebrities to promote our brand at these events will ensure better promotion of
our product. If we succeed in promoting through public relations and create, in the
eyes of our consumers, a movement and a trend then our brand will be recognized
and will soon become a brand that is strong and identified by the consumer.
With promotion come the funds with which to implement promotion with. We must
manage our costs effectively so that we can spend more on achieving our goal and
promotion plays a big and expensive part of this goal. Our promotions budget will
combine an affordable method with an objective-and-task method. The affordable
method will be used on determining the maximum level at which advertising will be
set. Because we are not going to rely heavily on advertising we will use the
affordable method to minimize the costs of advertisement. Public relations will be
determined using the objective-and-task method. This is where we will set out our
specific tasks and objectives and will put a specific amount into achieving these
32. objectives and tasks. This is the most effective e way to budget Public relations as
we rely heavily on public relations to get our product on the minds of the consumer.
In later stages we will use sales promotions and less of advertising. Public relations
will be important throughout the firm cycle.
Growth Strategy
At MMI we understand the need for growth and we constantly seek business and
products that we can produce in the future. Growth means we can compete
effectively, satisfy stakeholders and attract top talent. Our marketing department will
be responsible for profitable growth. They must identify, evaluate and select market
opportunities and lay down strategies for capturing them. One such way of doing
this, is the product/market expansion grid:
Existing
Products
New Products
Existing
Markets
Market
Penetration
Product
Development
New
Markets
Market
Development
Diversification
Market penetration refers to increasing sales of current customers without changing
the current product. To achieve deeper market penetration, Ndim iBhudda plans to
add new stores in current markets to make it easier for customers to visit. Further
marketing strategies will work towards improving advertising, prices, service, menu
33. selection or store design to encourage customers to come by more often, stay
longer, or to buy more during each visit. Ndim iBhudda will also offer discount cards
for future purchases, encouraging customers to buy more.
Market development is a strategy that entails Identifying and developing new market
segments for current products. This will be very difficult for Ndim iBhudda since it
has quite a distinct target market but measures for market development will be put
into place. These measures will include opening stores in new geographical areas
and targeting different income groups by introducing a branded credit card. This will
hopefully attract a market segment of customers that would not have purchased at
the stores for cash
Product development is offering new or modified products to current markets. With
the help of the marketing team, our research and development department will work
towards creating new designs and color combinations in an attempt to stay ahead of
the competition and continue to appeal to the changing needs of existing customers.
Using new technologies to produce for example florescent t-shirts would be a great
modification.
Diversification entails starting up or purchasing business outside current products
and markets. This essentially means developing new products and new markets.
MMI will be constantly on the lookout of any possible business ventures. The
company also plans to create Catlog, an application that allows you to do window
shopping on your mobile device.
Conclusion
The Ndim iBhudda brand faces a high degree of competition in the market. We
believe that by positioning the brand as an extension of the persons you are (self-
34. worth) sets it above the rest in the target market’s eyes. With a value proposition
offering more than just a t-shirt but a sense of belong as well, at the same price
competitors charge, will surely tempt many to buy. The target market consists of two
segments, the Baller and VIP, both chosen on the basis these groups spend money
and are very outgoing. And because of their outgoing nature, they will help the brand
get out and be seen. The clothing line will be sold in 3 well-known retail stores
around the country, making it widely available. Once the brand is well-known and
successful we launch line extensions, looking into other products, trying capture
more than just our already identified target market. We will then also need to
consider opening new stores in different geographical areas.
Ndim IBhuddha Pledge