This document provides an overview of a proposed solar-powered backpack product. It includes an executive summary, product description, competitive analysis, industry analysis, product market analysis, customer traits analysis, and environmental analysis. The key points are:
- The product is a hiking backpack that incorporates a flexible solar panel cover to charge electronic devices like phones and tablets while hiking or camping.
- A competitive analysis shows the product has differentiating features like a water purification pocket and multiple USB ports that competitors lack.
- The outdoor recreation industry is growing, with hiking/backpacking representing a $12.25 billion market in the US annually. Oregon alone generates $12.8 billion in outdoor recreation spending.
- Sur
In this presentation, experience design expert Evan Gerber will share with you his insight on intersection of teens and mobile web marketing – and how to approach this demographic with a positive, resonant message. He’ll discuss critical success factors, such as the importance of stepping into the mind of a 16-year-old, learning how they talk, and essentially how you can best communicate to them. Evan will share the need for usability testing, and tips on how to make your testing effective and drive valuable results. In addition, this exercise look will provide an understanding of what users expect from their applications, identify common usability mistakes, and recognize emerging design patterns in the mobile Internet.
GoPlug created the World's First SMART power bank with AC (wall plug) power. This 27000mAh (98Wh), 110V or 220V power bank truly can Power Anything, Anywhere. The mobile app allows users a battery management solution, timer controlled powering, alert notifications, GPS, and G-sensors (movement alarm) for security.
Additionally, bags were designed along-side their revolutionary SMART power bank so they work seamlessly well together. These products will keep users connected and increase productivity, leading to increased revenue and eliminate stress for unproductive, frustrated, on-the-go professionals who constantly run out of power.
US Customer Decision to Purchase an iPhone vs Android PhoneBenjamin Bewick
1) Apps are not the primary driver of consumers' decisions to purchase an iPhone versus an Android phone in the US market.
2) The smartphone market exhibits indirect network effects, where the value of a phone increases as the number of available apps increases, driving app developers and customers to cluster around a single dominant platform.
3) However, in the US the market is roughly split between iPhone and Android phones. A customer's choice is based on preferences for the other features of each phone, not apps, since the most popular apps are available on both.
This presentation looks at the growing popularity of mobile phones and their impact on marketing. It looks at the increased emergence of applications across platforms, the merging of social and mobile, the bridging of offline and online worlds via mobile devices, mobile marketing case studies and some tips on getting started with mobile marketing.
The document discusses how smartphones have transformed 21st century shopping. It notes that most consumers now own smartphones and use them to research products online and in stores. This has removed barriers to shopping as people can buy from any brand or store regardless of their location. However, this increased connectivity also raises privacy issues as retailers track shoppers' movements through technologies like Bluetooth beacons and share location data with advertisers. While mobile marketing provides benefits to businesses and customers, many consumers remain concerned about their privacy when using apps.
Running head:MARKET ANALYSIS 1
MARKET ANALYSIS2
Market Anlalysis
Student’s Name
IInsitutional Affiliation
Table of Contents
Introduction2
3. US market analysis2
3.1. Marketing research2
3.2 Marketing size and growth3
3.3 Market trends4
3.4 Customer Analysis5
Conclusion7
References8
Introduction Comment by Sandra Ducoffe: You will not need this intro in your final plan.
Market analysis is determined to be the qualitative and quantitative assessment of a market based on various aspects. However, the primary aim of the paper is to conduct US market analysis by determining the size, growth, and trend of the market along with customer analysis. 3. US market analysis 3.1. Marketing research
US market has experienced steady growth for five years to 2019 by increasing growth in internet advertising expenditure along with research and development. It provides dynamic and efficient opportunities for companies to operate a business in the US. The US market is the largest consumer market across the world, which possesses the potential to attract a considerable consumer base by fulfilling their needs. As a result, it helps most of the companies to increase their sales volume. While preparing products or services, companies in the US focus on the quality, needs, and expectations of the consumers (Hatheway, Kwan & Zheng, 2017). However, through increasing variety and lowering the cost of the products, the US market provides various advantages to its consumers. It determines consumer behavior by acknowledging that the majority of customers like cool brands. Operating in the US market, companies are required to follow specific regulations like licensing duties and customs regulations along with Consumer Data Privacy Laws. According to the US Department of Energy, solar energy is more prevalent, accessible and affordable than before. Solar-friendly laws have widely contributed to the growth of the solar industry in the US. The list of federation laws are:
Department of Energy Organization Act of 1997: The purpose of this Act is to ensure America’s prosperity and security by addressing its energy, nuclear and environmental challenges through technology solutions and transformative science.
The Federal Power Act of 1935: It coordinates the development of hydroelectric projects in US more effectively.
Federation Energy Regulatory Commission (FERC) Orders 890 and 1000: It transmits the provider’s requirement to organize transmission planning at the local and regional level. It provides flexibility to methods of cost distribution of transmission upgrades.
FERC order 2006: Its purpose is to address interconnection standards for small generators.
Energy Policy Act of 2005: This law focuses towards promoting energy self-sufficiency and improvements in US. It also includes considerable changes in interconnection legislation.
FERC Orders 819 and 827: This provision deals with the sale of primary frequency response services by sellers at market.
The document discusses how artificial intelligence could impact insurance companies in the future. It draws an analogy between a Dungeon Master in Dungeons & Dragons who controls the game and an insurance company. It suggests that within 15-25 years, AI will be able to track policyholder information through devices, identify risks before they occur, and reduce the need for traditional insurance underwriting done by humans today. The document also mentions how self-driving cars collecting accident data could help identify accident-prone areas and mitigate risks.
Inspiring Innovations - People's Insights (Jan and Feb 2015)MSL
As we welcome 2015 and with it possibilities for a new era of marketing communications, a few questions become more relevant today than ever before:
• What is the next big idea that can redefine brand-consumer interaction?
• How can businesses create more lasting value for their consumers?
• Why should brands and corporations focus their energies on being more socially relevant with their businesses?
With increasing interconnectedness and shrinking global boundaries, it’s an exciting time for businesses to evolve and innovate.
In this issue of the People’s Insights monthly brief, we look at 10 inspiring innovations in the space of Mobile, Citizenship and Personalization.
We’d love to hear your take on these approaches. Do share your thoughts with us at @PeoplesLab on Twitter. You can also reach out to us on Twitter @msl_group.
In this presentation, experience design expert Evan Gerber will share with you his insight on intersection of teens and mobile web marketing – and how to approach this demographic with a positive, resonant message. He’ll discuss critical success factors, such as the importance of stepping into the mind of a 16-year-old, learning how they talk, and essentially how you can best communicate to them. Evan will share the need for usability testing, and tips on how to make your testing effective and drive valuable results. In addition, this exercise look will provide an understanding of what users expect from their applications, identify common usability mistakes, and recognize emerging design patterns in the mobile Internet.
GoPlug created the World's First SMART power bank with AC (wall plug) power. This 27000mAh (98Wh), 110V or 220V power bank truly can Power Anything, Anywhere. The mobile app allows users a battery management solution, timer controlled powering, alert notifications, GPS, and G-sensors (movement alarm) for security.
Additionally, bags were designed along-side their revolutionary SMART power bank so they work seamlessly well together. These products will keep users connected and increase productivity, leading to increased revenue and eliminate stress for unproductive, frustrated, on-the-go professionals who constantly run out of power.
US Customer Decision to Purchase an iPhone vs Android PhoneBenjamin Bewick
1) Apps are not the primary driver of consumers' decisions to purchase an iPhone versus an Android phone in the US market.
2) The smartphone market exhibits indirect network effects, where the value of a phone increases as the number of available apps increases, driving app developers and customers to cluster around a single dominant platform.
3) However, in the US the market is roughly split between iPhone and Android phones. A customer's choice is based on preferences for the other features of each phone, not apps, since the most popular apps are available on both.
This presentation looks at the growing popularity of mobile phones and their impact on marketing. It looks at the increased emergence of applications across platforms, the merging of social and mobile, the bridging of offline and online worlds via mobile devices, mobile marketing case studies and some tips on getting started with mobile marketing.
The document discusses how smartphones have transformed 21st century shopping. It notes that most consumers now own smartphones and use them to research products online and in stores. This has removed barriers to shopping as people can buy from any brand or store regardless of their location. However, this increased connectivity also raises privacy issues as retailers track shoppers' movements through technologies like Bluetooth beacons and share location data with advertisers. While mobile marketing provides benefits to businesses and customers, many consumers remain concerned about their privacy when using apps.
Running head:MARKET ANALYSIS 1
MARKET ANALYSIS2
Market Anlalysis
Student’s Name
IInsitutional Affiliation
Table of Contents
Introduction2
3. US market analysis2
3.1. Marketing research2
3.2 Marketing size and growth3
3.3 Market trends4
3.4 Customer Analysis5
Conclusion7
References8
Introduction Comment by Sandra Ducoffe: You will not need this intro in your final plan.
Market analysis is determined to be the qualitative and quantitative assessment of a market based on various aspects. However, the primary aim of the paper is to conduct US market analysis by determining the size, growth, and trend of the market along with customer analysis. 3. US market analysis 3.1. Marketing research
US market has experienced steady growth for five years to 2019 by increasing growth in internet advertising expenditure along with research and development. It provides dynamic and efficient opportunities for companies to operate a business in the US. The US market is the largest consumer market across the world, which possesses the potential to attract a considerable consumer base by fulfilling their needs. As a result, it helps most of the companies to increase their sales volume. While preparing products or services, companies in the US focus on the quality, needs, and expectations of the consumers (Hatheway, Kwan & Zheng, 2017). However, through increasing variety and lowering the cost of the products, the US market provides various advantages to its consumers. It determines consumer behavior by acknowledging that the majority of customers like cool brands. Operating in the US market, companies are required to follow specific regulations like licensing duties and customs regulations along with Consumer Data Privacy Laws. According to the US Department of Energy, solar energy is more prevalent, accessible and affordable than before. Solar-friendly laws have widely contributed to the growth of the solar industry in the US. The list of federation laws are:
Department of Energy Organization Act of 1997: The purpose of this Act is to ensure America’s prosperity and security by addressing its energy, nuclear and environmental challenges through technology solutions and transformative science.
The Federal Power Act of 1935: It coordinates the development of hydroelectric projects in US more effectively.
Federation Energy Regulatory Commission (FERC) Orders 890 and 1000: It transmits the provider’s requirement to organize transmission planning at the local and regional level. It provides flexibility to methods of cost distribution of transmission upgrades.
FERC order 2006: Its purpose is to address interconnection standards for small generators.
Energy Policy Act of 2005: This law focuses towards promoting energy self-sufficiency and improvements in US. It also includes considerable changes in interconnection legislation.
FERC Orders 819 and 827: This provision deals with the sale of primary frequency response services by sellers at market.
The document discusses how artificial intelligence could impact insurance companies in the future. It draws an analogy between a Dungeon Master in Dungeons & Dragons who controls the game and an insurance company. It suggests that within 15-25 years, AI will be able to track policyholder information through devices, identify risks before they occur, and reduce the need for traditional insurance underwriting done by humans today. The document also mentions how self-driving cars collecting accident data could help identify accident-prone areas and mitigate risks.
Inspiring Innovations - People's Insights (Jan and Feb 2015)MSL
As we welcome 2015 and with it possibilities for a new era of marketing communications, a few questions become more relevant today than ever before:
• What is the next big idea that can redefine brand-consumer interaction?
• How can businesses create more lasting value for their consumers?
• Why should brands and corporations focus their energies on being more socially relevant with their businesses?
With increasing interconnectedness and shrinking global boundaries, it’s an exciting time for businesses to evolve and innovate.
In this issue of the People’s Insights monthly brief, we look at 10 inspiring innovations in the space of Mobile, Citizenship and Personalization.
We’d love to hear your take on these approaches. Do share your thoughts with us at @PeoplesLab on Twitter. You can also reach out to us on Twitter @msl_group.
Mobile Research Goes To The Game - PaperResearch Now
Mobile research was conducted during major sporting events to test its capabilities. Initial testing of mobile ads found consistency in brand bonding measures compared to online. Testing during the 2013 Australian State of Origin rugby series found that mobile surveys could successfully interview avid sports fans in real-time, with over 60% of interviews completed by halftime. Mobile research provided additional insights not found through traditional pre-and post-event online surveys alone, such as changes in brand feelings throughout the games that would have otherwise been missed.
This document discusses Apple's target market for the iPad, including demographic and geographic segmentation. It analyzes buyer profiles in both domestic (US) and foreign (UK) markets based on variables like age, income, occupation, and location (urban vs. rural). For the domestic market, it describes target customers in New York in more detail. For the foreign market, it provides more information on targets in the UK. It then analyzes findings from both markets and describes how Claritas PRIZM can be used to understand customer behavior, preferences, and patterns psychographically and demographically. In conclusion, it discusses how demographic and psychographic factors can help understand customer behavior.
The document discusses a new product development assignment on developing a solar charger called Solarz. It provides details on the product, including a description and specifications. It discusses the idea generation process, concept testing, and business analysis including strategic decisions, timelines, risks, expected benefits, market size and potential, cost of production, and breakeven analysis. It also outlines plans for test marketing the product, developing a brand strategy, packaging considerations, and launching the product. The overall goal is to introduce an innovative solar charger to the market to address the need for charging mobile devices outdoors.
2013 Reviewed - A Year In Trends by Future FoundationForesight Factory
Trends and insight specialists Future Foundation take a look back at its consumer trends predictions over the last year. What made the grade? What has changed? How does our data stack up? And what might be the biggest trends for 2014?
Brian Cauble is the co-founder and CEO of Appsolute Genius, a mobile app development company. He has over 9 years of experience in software development. The app economy has grown significantly, with over 274,000 active apps on the Apple App Store and thousands of new submissions each month. Marketers should pay attention to opportunities that apps provide, such as reallocating advertising dollars to mobile, cause marketing promotions, direct response capabilities, and integrating barcodes/QR codes. However, brands need to ensure their app strategy aligns with overall marketing goals and is sustainable.
MetricWire For Consumer Insights ProfessionalsLes Magyar
This document introduces MetricWire, a smartphone survey platform that allows users to create advanced mobile surveys, deploy questions to participants using time-based or geo-location triggers, and access cutting-edge reporting and analytics. It provides examples of how MetricWire has been used by clients to better understand consumer drinking habits, improve a sports stadium experience, and test new product packaging through mobile qualitative research.
Juvenile Products Market by Product Type, Distribution Channel, End User 2024...IMARC Group
The global juvenile products market size reached US$ 23.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.4% during 2024-2032.
More Info:- https://www.imarcgroup.com/juvenile-products-market
This business plan outlines Insolar Apparel, a startup that aims to create fashionable clothing and accessories that harness solar power. The company's products will be able to store enough energy daily from the sun to charge small electronic devices. Insolar Apparel seeks to raise awareness of environmental issues and demonstrate that fashion and sustainability can go hand in hand. Key goals include being profitable by year 3 and achieving high brand equity also by year 3. The plan provides details on the target market, competition, management team, operations, and 5-year financial projections, which show a 54% internal rate of return over the first 5 years.
This document provides an influence marketing proposal for Pebble Time smartwatches in Canada. It identifies the target audience as "Digital Divas" - tech-savvy women who are early adopters of new technology. The proposal outlines a campaign to sell 50,000 Pebble Time units by the end of 2015 through identifying key stages in the consumer purchase lifecycle, disruptive factors that could influence decisions, and an influencer-based communication strategy to reach the target audience.
This document provides information about a marketing campaign created by a group for the outdoor clothing brand Patagonia. The campaign aims to change people's perception that Patagonia products are only worn as a fashion statement by encouraging customers to use the products for their intended outdoor purposes. The campaign includes print billboards showing cityscapes with images of wilderness, an app called Patagonia Pioneer that tracks outdoor activities and awards points for discounts, and an interactive experience called Where's Your Wilderness that immerses users in different wilderness settings. The target market is social and environmentally-conscious young adults living in urban areas.
A white paper I authored about the major headwinds confronting the wearables market, with some interesting new data point around wearables abandonment and acquisition.
As SVP, Strategic Insights, prepared and presented this thought leadership to clients and at an Experian Marketing Summit. Thanks to all the great work by Alex Rosten, Katie Rosman, and the rest of the Demand Insights team.
Demand Media Shares New Insights About Tech Consumers DemandMedia
This document provides insights into DIY tech consumers who turn to eHow for information. It finds that these consumers do extensive online research, using both desktop and mobile devices, before purchasing electronics products. They are committed to researching purchases themselves for their personal or family use. While desktop is still most used for research, interest is growing in mobile and video content formats. The highest periods of engagement occur on weekends and nights when consumers have more free time at home.
This document provides a summary of trends in various industries from September 2017. It discusses trends in travel, retail, food, health, communication/media, personalization, and technology. Specific topics covered include Amazon buying Whole Foods, the development of mood-enhancing foods, personalized health plans and investing apps, and new innovations in retail, sanitation, and transportation. The document encourages thinking about how these trends could impact various industries and business models in the future.
The Shopping Mindset of the Mobile ConsumerLee Hanxue
The document discusses findings from a survey about mobile shopping behaviors. Some key points:
1) While many consumers own smartphones, mobile shopping experiences still need improvement in areas like usability and security. Shopping app usage is currently limited.
2) Smartphones are commonly used to locate stores, research products and prices before visits and in stores. Over 60% of smartphone owners have made purchases on their phone.
3) Common pre-store shopping activities on smartphones include checking store locations, sales, competitive prices, browsing online stores, and reading reviews. In-store activities focus on coupons, price checks, and further product research.
4) Mobile shopping is expected to grow significantly in the near future
This issue is about the new seamless platform, native ads, targeting and the programmatic environment.
Bu sayımız yeni seamless platformu, native reklamlar, hedeflemeler ve programmatic ekosistem hakkındadır.
Outdoor Products Industry Insights 2016Duff & Phelps
Rapid growth of e-commerce, significant competition, and market saturation will continue to drive consolidation in the outdoor and sporting goods retail industry. Innovative companies are commanding attention from corporate and private equity buyers, with the market ripe for acquisition activity.
This document provides background information and outlines a study that examines how negative online word-of-mouth influences consumer evaluations of an underdog brand compared to a top brand. It begins with an introduction on the topic and a literature review on relevant areas like wearable technology brands, word-of-mouth effects, and underdog theory. It then proposes two competing hypotheses about whether an underdog or top brand will be more negatively impacted. The document describes two pilot studies and the main study methodology which manipulates brand type and review valence to test the hypotheses. It concludes with a discussion of implications and limitations.
Running head APPLE MARKETING PLANAPPLE MARKETING PLAN.docxjoellemurphey
Running head: APPLE MARKETING PLAN
APPLE MARKETING PLAN
APPLE MARKETING PLAN
Name:
Institution:
Professor:
Date of submission:
EXECUTIVE SUMMERY
Apple Company is a leading high tech electronics manufacture with its brand experiencing exponential growth. Its customer base has expanded and includes the rest of the world (Drumwright, 2013). The unique products that are offered by Apple Company include unique personal computers, smart phones, and music electronics and online based selling platforms such as iTunes together with the encompassing of production of relevant tiers of soft wares. Apple has introduced the concept of smart watches which will literally revolutionize the watch market.t the company’s products have been had high business success in the market hence the company’s decision to reinvent the watch in a unique way. The significant point here is to offer the potential customer with a watch will have a class of its own, a feel of its own and an attitude which can only be attributed to it (Barnes, 2008). The company has already done productive fiscal analysis of the target company and has extensive information about the attributes of the potential customers. This information will be leveraged with the sole purpose of being able to reach the customer base in a more personalized method of product production, distribution and adaptation by the market. The use of geographic information system(GIS) which will be useful in analyzing demographic data so as to be apple effectively meet primary and secondary target adjectives.
TARGET MARKET
Apple Company has a unique culture of not defining its market based on ethnicity, sex or racial affiliations but on a product preference basis. The apple products are made for any person who has a taste for unique, high quality, state of the art and also appealing products. The Apple products are known to have a significant emphasis on their aesthetic look and feel. The Apple watch will definitely be made with the same attributes and is made to mirror the Apple legacy (Barnes, 2008).
Demographic analysis of target customer base shows that there will be two groups of people who will majorly make potential customers for the watch (Drumwright, 2013). The first group consists of young adults preferably of ages 18 to 24. These are people who are in there second level or third level of studies most of them being in university. This group is known to have a knack for high tech products and is known to pay as much as is needed so as to get whatever the product they desire to have. The group comprises of students who receive adequate financial support from their parents and the government and people who are in their first jobs but without much responsibilities. The second group will comprise of professionals mostly of 25 years and above. This are people with a touch of fashion and in need of innovative products to help them in their day to day life. They will generally have the money to affo ...
Company’s StrategyEasy to carry. The product our company produ.docxdonnajames55
Company’s Strategy
Easy to carry. The product our company produce is called “solar sticker” that is a portable solar power mobile phone charger. This product ought to be regarded as an exceptional innovation that has taken place as it incorporates some outstanding innovation in various areas. The solar stickers transformed the size of similar products on the market as it has made them more appealing. The solar batteries charger are prevailing in the market which are external batteries that have solar panels to save solar energy, transform it into electrical energy and store it to use it to recharge the mobile phones.
Easy to use. Moreover, the solar stickers our company extend the range of the mobile devices without using a regular electric plug. So that we are developing the trendy technology of solar panels, it’s adding the solar sticker in the back of a mobile phone. It can use anywhere and any time when you are at a metro, mountain or beach. The captured energy from the sun will get in touch with the sticker, and the electric power will be converting into electricity to charge the phone. (2012)
Eco-friendly and saving customer’s money. Using a solar powered phone charger is one of the many ways or strategies of getting alternative sources of energy. Solar energy is appropriate for eradicating fossil fuel that harms our environment and is an alternative source of energy for home or business use. (Solar powered, 2017)It also helps a customer save lots of money on electricity bills, by saving money charging small devices like mobiles, cell phones or tablets.
Demand Forecast & Technical Rationale
From every generation, people are starting to catch on to the new and updated technology. Each generation is adapting to this change, and it is becoming the norm to continuously be connected through social networking, email, and even video conferencing. According to Transaction World, as the cell phone market increases, more consumers rely on texting and phone applications. Our society is constantly looking for fast and efficient ways to communicate. (Solar, 2013)Once one person sees another use something new, it stirs the curiosity and influences others to do research and even make a purchase.
The geographic factors are chosen to represent our product actually would be primarily in an urban setting such as San Francisco. The population of the city has Ethnic and cultural diversification. Furthermore, San Francisco (S.F.) has a population of 825,863 and is considered urban (“San Francisco-California”.2013). According to the report, the people of S.F. retains a relatively high median income per household of about $71,304. (“Demographics Summary,” Para.2).
The most important demographic criteria we have researched are the age, income, occupation, and education. These areas all seem to correlate and show that average age of the residents is between the ages of 20-35 years old. California’s overall median age is 45.6 years(City-Data. 2012). The reas.
Mobile Research Goes To The Game - PaperResearch Now
Mobile research was conducted during major sporting events to test its capabilities. Initial testing of mobile ads found consistency in brand bonding measures compared to online. Testing during the 2013 Australian State of Origin rugby series found that mobile surveys could successfully interview avid sports fans in real-time, with over 60% of interviews completed by halftime. Mobile research provided additional insights not found through traditional pre-and post-event online surveys alone, such as changes in brand feelings throughout the games that would have otherwise been missed.
This document discusses Apple's target market for the iPad, including demographic and geographic segmentation. It analyzes buyer profiles in both domestic (US) and foreign (UK) markets based on variables like age, income, occupation, and location (urban vs. rural). For the domestic market, it describes target customers in New York in more detail. For the foreign market, it provides more information on targets in the UK. It then analyzes findings from both markets and describes how Claritas PRIZM can be used to understand customer behavior, preferences, and patterns psychographically and demographically. In conclusion, it discusses how demographic and psychographic factors can help understand customer behavior.
The document discusses a new product development assignment on developing a solar charger called Solarz. It provides details on the product, including a description and specifications. It discusses the idea generation process, concept testing, and business analysis including strategic decisions, timelines, risks, expected benefits, market size and potential, cost of production, and breakeven analysis. It also outlines plans for test marketing the product, developing a brand strategy, packaging considerations, and launching the product. The overall goal is to introduce an innovative solar charger to the market to address the need for charging mobile devices outdoors.
2013 Reviewed - A Year In Trends by Future FoundationForesight Factory
Trends and insight specialists Future Foundation take a look back at its consumer trends predictions over the last year. What made the grade? What has changed? How does our data stack up? And what might be the biggest trends for 2014?
Brian Cauble is the co-founder and CEO of Appsolute Genius, a mobile app development company. He has over 9 years of experience in software development. The app economy has grown significantly, with over 274,000 active apps on the Apple App Store and thousands of new submissions each month. Marketers should pay attention to opportunities that apps provide, such as reallocating advertising dollars to mobile, cause marketing promotions, direct response capabilities, and integrating barcodes/QR codes. However, brands need to ensure their app strategy aligns with overall marketing goals and is sustainable.
MetricWire For Consumer Insights ProfessionalsLes Magyar
This document introduces MetricWire, a smartphone survey platform that allows users to create advanced mobile surveys, deploy questions to participants using time-based or geo-location triggers, and access cutting-edge reporting and analytics. It provides examples of how MetricWire has been used by clients to better understand consumer drinking habits, improve a sports stadium experience, and test new product packaging through mobile qualitative research.
Juvenile Products Market by Product Type, Distribution Channel, End User 2024...IMARC Group
The global juvenile products market size reached US$ 23.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.4% during 2024-2032.
More Info:- https://www.imarcgroup.com/juvenile-products-market
This business plan outlines Insolar Apparel, a startup that aims to create fashionable clothing and accessories that harness solar power. The company's products will be able to store enough energy daily from the sun to charge small electronic devices. Insolar Apparel seeks to raise awareness of environmental issues and demonstrate that fashion and sustainability can go hand in hand. Key goals include being profitable by year 3 and achieving high brand equity also by year 3. The plan provides details on the target market, competition, management team, operations, and 5-year financial projections, which show a 54% internal rate of return over the first 5 years.
This document provides an influence marketing proposal for Pebble Time smartwatches in Canada. It identifies the target audience as "Digital Divas" - tech-savvy women who are early adopters of new technology. The proposal outlines a campaign to sell 50,000 Pebble Time units by the end of 2015 through identifying key stages in the consumer purchase lifecycle, disruptive factors that could influence decisions, and an influencer-based communication strategy to reach the target audience.
This document provides information about a marketing campaign created by a group for the outdoor clothing brand Patagonia. The campaign aims to change people's perception that Patagonia products are only worn as a fashion statement by encouraging customers to use the products for their intended outdoor purposes. The campaign includes print billboards showing cityscapes with images of wilderness, an app called Patagonia Pioneer that tracks outdoor activities and awards points for discounts, and an interactive experience called Where's Your Wilderness that immerses users in different wilderness settings. The target market is social and environmentally-conscious young adults living in urban areas.
A white paper I authored about the major headwinds confronting the wearables market, with some interesting new data point around wearables abandonment and acquisition.
As SVP, Strategic Insights, prepared and presented this thought leadership to clients and at an Experian Marketing Summit. Thanks to all the great work by Alex Rosten, Katie Rosman, and the rest of the Demand Insights team.
Demand Media Shares New Insights About Tech Consumers DemandMedia
This document provides insights into DIY tech consumers who turn to eHow for information. It finds that these consumers do extensive online research, using both desktop and mobile devices, before purchasing electronics products. They are committed to researching purchases themselves for their personal or family use. While desktop is still most used for research, interest is growing in mobile and video content formats. The highest periods of engagement occur on weekends and nights when consumers have more free time at home.
This document provides a summary of trends in various industries from September 2017. It discusses trends in travel, retail, food, health, communication/media, personalization, and technology. Specific topics covered include Amazon buying Whole Foods, the development of mood-enhancing foods, personalized health plans and investing apps, and new innovations in retail, sanitation, and transportation. The document encourages thinking about how these trends could impact various industries and business models in the future.
The Shopping Mindset of the Mobile ConsumerLee Hanxue
The document discusses findings from a survey about mobile shopping behaviors. Some key points:
1) While many consumers own smartphones, mobile shopping experiences still need improvement in areas like usability and security. Shopping app usage is currently limited.
2) Smartphones are commonly used to locate stores, research products and prices before visits and in stores. Over 60% of smartphone owners have made purchases on their phone.
3) Common pre-store shopping activities on smartphones include checking store locations, sales, competitive prices, browsing online stores, and reading reviews. In-store activities focus on coupons, price checks, and further product research.
4) Mobile shopping is expected to grow significantly in the near future
This issue is about the new seamless platform, native ads, targeting and the programmatic environment.
Bu sayımız yeni seamless platformu, native reklamlar, hedeflemeler ve programmatic ekosistem hakkındadır.
Outdoor Products Industry Insights 2016Duff & Phelps
Rapid growth of e-commerce, significant competition, and market saturation will continue to drive consolidation in the outdoor and sporting goods retail industry. Innovative companies are commanding attention from corporate and private equity buyers, with the market ripe for acquisition activity.
This document provides background information and outlines a study that examines how negative online word-of-mouth influences consumer evaluations of an underdog brand compared to a top brand. It begins with an introduction on the topic and a literature review on relevant areas like wearable technology brands, word-of-mouth effects, and underdog theory. It then proposes two competing hypotheses about whether an underdog or top brand will be more negatively impacted. The document describes two pilot studies and the main study methodology which manipulates brand type and review valence to test the hypotheses. It concludes with a discussion of implications and limitations.
Running head APPLE MARKETING PLANAPPLE MARKETING PLAN.docxjoellemurphey
Running head: APPLE MARKETING PLAN
APPLE MARKETING PLAN
APPLE MARKETING PLAN
Name:
Institution:
Professor:
Date of submission:
EXECUTIVE SUMMERY
Apple Company is a leading high tech electronics manufacture with its brand experiencing exponential growth. Its customer base has expanded and includes the rest of the world (Drumwright, 2013). The unique products that are offered by Apple Company include unique personal computers, smart phones, and music electronics and online based selling platforms such as iTunes together with the encompassing of production of relevant tiers of soft wares. Apple has introduced the concept of smart watches which will literally revolutionize the watch market.t the company’s products have been had high business success in the market hence the company’s decision to reinvent the watch in a unique way. The significant point here is to offer the potential customer with a watch will have a class of its own, a feel of its own and an attitude which can only be attributed to it (Barnes, 2008). The company has already done productive fiscal analysis of the target company and has extensive information about the attributes of the potential customers. This information will be leveraged with the sole purpose of being able to reach the customer base in a more personalized method of product production, distribution and adaptation by the market. The use of geographic information system(GIS) which will be useful in analyzing demographic data so as to be apple effectively meet primary and secondary target adjectives.
TARGET MARKET
Apple Company has a unique culture of not defining its market based on ethnicity, sex or racial affiliations but on a product preference basis. The apple products are made for any person who has a taste for unique, high quality, state of the art and also appealing products. The Apple products are known to have a significant emphasis on their aesthetic look and feel. The Apple watch will definitely be made with the same attributes and is made to mirror the Apple legacy (Barnes, 2008).
Demographic analysis of target customer base shows that there will be two groups of people who will majorly make potential customers for the watch (Drumwright, 2013). The first group consists of young adults preferably of ages 18 to 24. These are people who are in there second level or third level of studies most of them being in university. This group is known to have a knack for high tech products and is known to pay as much as is needed so as to get whatever the product they desire to have. The group comprises of students who receive adequate financial support from their parents and the government and people who are in their first jobs but without much responsibilities. The second group will comprise of professionals mostly of 25 years and above. This are people with a touch of fashion and in need of innovative products to help them in their day to day life. They will generally have the money to affo ...
Company’s StrategyEasy to carry. The product our company produ.docxdonnajames55
Company’s Strategy
Easy to carry. The product our company produce is called “solar sticker” that is a portable solar power mobile phone charger. This product ought to be regarded as an exceptional innovation that has taken place as it incorporates some outstanding innovation in various areas. The solar stickers transformed the size of similar products on the market as it has made them more appealing. The solar batteries charger are prevailing in the market which are external batteries that have solar panels to save solar energy, transform it into electrical energy and store it to use it to recharge the mobile phones.
Easy to use. Moreover, the solar stickers our company extend the range of the mobile devices without using a regular electric plug. So that we are developing the trendy technology of solar panels, it’s adding the solar sticker in the back of a mobile phone. It can use anywhere and any time when you are at a metro, mountain or beach. The captured energy from the sun will get in touch with the sticker, and the electric power will be converting into electricity to charge the phone. (2012)
Eco-friendly and saving customer’s money. Using a solar powered phone charger is one of the many ways or strategies of getting alternative sources of energy. Solar energy is appropriate for eradicating fossil fuel that harms our environment and is an alternative source of energy for home or business use. (Solar powered, 2017)It also helps a customer save lots of money on electricity bills, by saving money charging small devices like mobiles, cell phones or tablets.
Demand Forecast & Technical Rationale
From every generation, people are starting to catch on to the new and updated technology. Each generation is adapting to this change, and it is becoming the norm to continuously be connected through social networking, email, and even video conferencing. According to Transaction World, as the cell phone market increases, more consumers rely on texting and phone applications. Our society is constantly looking for fast and efficient ways to communicate. (Solar, 2013)Once one person sees another use something new, it stirs the curiosity and influences others to do research and even make a purchase.
The geographic factors are chosen to represent our product actually would be primarily in an urban setting such as San Francisco. The population of the city has Ethnic and cultural diversification. Furthermore, San Francisco (S.F.) has a population of 825,863 and is considered urban (“San Francisco-California”.2013). According to the report, the people of S.F. retains a relatively high median income per household of about $71,304. (“Demographics Summary,” Para.2).
The most important demographic criteria we have researched are the age, income, occupation, and education. These areas all seem to correlate and show that average age of the residents is between the ages of 20-35 years old. California’s overall median age is 45.6 years(City-Data. 2012). The reas.
Similar to PowerRuck Final Paper UPDATED (1) (1) (20)
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ExecutiveSummary:
Oregon has a wide variety of climates and terrain, fromthe Pacific Oceanin the west to the
Painted Hills in the east. Oregon is a hot bed foroutdoor activities, but mainly hiking and
photography. While out on the trail or camping without power, there comes the issue of
recharging electronic devices. Withthe growing popularity of solar power and reusable
energy, we plan on adding solar charging capabilities to hiker’s backpacks. Microsolar
technology is increasing the weight to charging capabilities of current solar panels and will
lower the added weight to current backpacks while giving them the added feature. Our
foresight of this growing trend and the technologicaladvances in solar technology willlead
to captured market share with little to no competitors. Our expertise comes from the
variety of members we have on our team. Each member pulls from a college education to
bring expertise and good judgment to the decisions we will make in the future.
PRODUCT:
Our Product
The problem we sought to solve was the ease of access to portable energy and
camping essentials while pursuing adventure. Furthermore, we want to solve the problem
of de-cluttering emergency gear for families and centralize important equipment.
The PowerRuckis a structurally stable hiking backpackthat incorporates a smart
and flexible solar cover to charge tomorrows electronics.Our product is designed to be
carried long distances with ease and provide the customer with a flexible way topower
their electronic devices. Some of the possible features we look to incorporate into the
backpackinclude an 11oz, 15,000mAh battery to store and charge portable devices, 3 usb
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ports to allow multiple devices to be charged, a water-purifying pocket,and a flexible fabric
solar coverthat is waterproof and durable. The flexible solar fabric is the main
differentiator with this backpack.The solar coveracts like an extra barrier against the
elements while at the same time is able to charge the battery in the pack.
CompetitiveAnalysis
Our competitive analysis consists of looking at 3 of the top backpacks on the market.
These backpacksand the brands associated with the packs will be our main competitors if
we want to have the top backpackaround. Using outdoorgearlab.com, we foundthe
backpackreviews and information of each of the top 3 backpacksand compared it with our
PowerRuckbackpack(Figure 2). The chart shows that PowerRuckhas some features that
are useful to the new age backpackers that the other competition doesn’t have. We also got
some key information on the “cons” of our competitors. Because we don’t have an actual
backpackon the market, we can’t possibly have a list of customer complaints or “cons” for
our product. What we willdo when moving forwardis see the cons from other backpacks
and make sure we do not have those same problems forour future customers.
IndustryAnalysis
Our industry analysis consists of looking at the industry as a whole. We did some
research and found that outdoor recreation product sales are $120.7 billion worldwide. We
looked even deeper and found that Trail Sports (hiking and backpacking) participants
spend $12.25 billion annually on gear and accessories alone. We found that the outdoor
recreation economy grew approximately 5 percent annually between 2005 and 2011. The
outdoor recreation activity is a growing industry withlots of potential, even though there
are many competitors and buyer poweris high. Our team also looked at just the state of
Oregon and found some data on outdoor recreation sales (Figure 3). One number that
stands out is that Oregon has generated 12.8 billion dollars in consumer spending of
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outdoor recreation, which includes gear, accessories, fees fornational parks, parking, etc.
This is one of the biggest states foroutdoor recreation and it shows with the numbers of
sales.
ProductMarket
The market that we are working in is the hiking/backpacking industry of outdoor
activities. Having the large attractions such as the 59 National parks in the United States
but to even the small localattractions in your town,those people can benefit from our
renewable energy backpack. The most visited national park in the U.S. were The Great
Smokey National park, whichhad 9,685,829 visitors in a single year, and the second most
visited park was the Grand Canyons, which had 4,421,352 visitors in a year (Figure 4) With
having nearly 15 million visitors in the top twoNational Parks alone and 282 million
visitors counting all National Park visitors, we can see that the market potential is huge for
people needing a backpack, but with ours offering a power source is our differentiator from
the rest. Of Oregon’s population of 3,970,000, 13.6% of them participate in
hiking/backpacking; so 539,920 people are potential customers in Oregon. If we were to
assume that 13.6% of the United States population were to have been hiking/backpacking,
we are dealing with43,370,400 potential customers in the United States.
We did primary research on the viability of our product by using
surveymonkey.com.Wemade a survey to track the age, gender, and answer a couple
questions regarding our product. For a sample size of 33, we had an overwhelming number
of respondents within the age of 18-24 and a disproportionate number of male respondents
(Figure 12 & 13). Nonetheless wewere able to gather some useful data to apply to our
research. Over75% of respondents said they wouldbuy this product if it were available
today and over 50% said they have not used a product similar to ours (Figure 10 & 11). We
will continue to enhance the survey to gather data on our productmarket.
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CustomerTraits
We will focuson the professional hikers 23 years old and above. This age willhave
highly specialized knowledge and abundant experience in the hiking field. They willgive the
most useful feedbackto us from our MVP,as most of the experienced hikers build the
forums and publish their opinions. We also can improve our product from the customers’
feedback.
Secondly, forlocation, our product is suitable forall families and individuals seeking
a lightweight, durable pack foremergency gear. It will help people to meet an emergency
like Hurricanes or Tornados. Peoplecan put the emergency supplies and essentials into our
backpackand store it away forthose emergency situations. According to the data from
AOML ( Atlantic Oceanographic and Meteorological Laboratory) and NOAA (National
Oceanic and Atmospheric Administration), we believe marketing around high risk cities will
be a reasonable way to meet our customers’ needs and exploit our market effectively (Refer
to Figures 5 & 6).
For the Income, our product's pricing willbe $350. US Per Capita Disposable
Personal Income is at a current level of 41544.00. So this price will be acceptable to the
current market. (Figure 7)
Environmental Analysis
The environment forour productis favorablebecause of several current
trends. The first trend is the increased use of daily technology. People now use technology
11 or more hours a day (Figure 8). And particularly important to our product is the amount
of portable devices that are getting used. These devices include smartphones, cell phones,
e-readers, and tablets. All of whichare common among American adults. Research shows
that as of October2014(Mobile Technology Fact Sheet, 2013): 64% of American adults own
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a smartphone, 90% of American adults own a cell phone, 32% of American adults own an e-
reader, and 42% of American adults own a tablet.
One growing trend has been growthin nature-based recreation. Between 2000 and
2009, the number of people who participated in nature based outdoor recreation grew by
7.1 percent with the number of activity days growing about 40 percent that year. Growthis
happening particularly in technology-based waysof viewing nature, like bird watching and
photography. Growth is expected to continue through 2060 (Cordell, 2012). This
photography element is important because it affectsanother trend in the environment, use
of smartphone applications.
Around 80% of time spent on a mobile phone is on apps. Four of the top 25 apps in
the US have the ability or are designed specifically for sharing photos and video taken with
your phone, with 2 other apps in the top 25 being used for navigation (Figure 9). With the
advances in smartphone photo and video technology and quality, phones are now replacing
standard cameras as the primary photo device(Chen, 2012). Peopleare more dependent
on technology and use it more often than ever before. Yet people are also going outside
more for the need of adventure and for health benefits. All of this makes a favorable
environment forour product because it enables their need fortechnology, while also still
allowing them to get out to adventure and exercise.
MARKETING
MarketingObjectivesandGoals
Year 1: The goal foryear one is Host Kickstarter ad to gain $50,000 in funding. This will help
with research and development, and initial marketing. We will develop an initial website
and be featured in outdoor magazines. By mid-2016, we willlease a warehouse in Portland,
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Oregon and deliver our 15 MVP’s to send to outdoor enthusiasts and high profile individuals
to receive feedback.Lastly, we will receivethe feedbackand produce the refined product by
September and start selling our product by October.
Year 2: Our goal is to promote our product in featured outdoor stores like Cabelas,
Sportsman’s Warehouse, REI,and PeakSports. Our goal by the end of the year is to be
featured in one of these big name retailers.
Year 3: Start selling in twomajor stores, Cabellas and REI. Feature ads in outdoor magazines
and create brand awareness through video promotion.
Competition
Our competition consists of looking at 3 of the top backpackson the market. These
backpacksand the brands associated with the packs willbe our main competitors if we
want to have the top backpackaround. Using outdoorgearlab.com, we found the backpack
reviews and information of each of the top 3 backpacksand compared it with our
PowerRuckbackpack(Figure 1). Also on the website, we found out that all 3 of these
backpacksare currently stockedat 5 or more stores including REI and Cabellas in which our
goal is to be stocked in these 2 big retailers. The chart shows that PowerRuckhas some
features that are useful to the new age backpackers that the other competition doesn’t have.
We also got some key information on the “cons” of our competitors. Because we don’t have
an actual backpackon the market, we can’t possibly have a list of customer complaints or
“cons” for our product. What wewill do when moving forward is see the cons fromother
backpacksand make sure we do not have those same problems for our future customers.
TargetMarket
The target market we are looking to capitalize on is the hiking/backpacking market,
emergency preppers, and individuals who are 23 years and older. The product being priced
at a premium ($350)is a bit tooexpensive for young adults. When the college student
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graduates, they will be starting their first job and earning income. Since they willbe starting
their career, they willhave a disposable income. Millennial are all about the social media.
When people travel they are consistently taking pictures and posting them onto social
media. Emergency preppers are people wholive in areas where natural disasters are
prominent. (Hurricanes, earthquakes, etc.). Take Hurricane Katrina for example; people
were stranded for days without poweror the means to recharge emergency devices.
Product
The product we are offering has a flexible solar cover,extra battery, and emergency
portability. The product will be focused towards hikers and photographers that are looking
for a sustainable, lightweight pack. The pack willincorporate solar technology small enough
to be woven into fabrics. This state of the art technology will allow backpackersto utilize
solar panels withoutthe fear of it adding extra weight. The solar panel will be attached to an
8500 mAh smart battery, charging it in 2.5 hours in full sunlight. The battery willbe the
primary charger of external devices like an ipad, DSLR camera, or a cell phone.
Furthermore, the backpackwill incorporate a detachable light, pocketwater purifier, and
waterproof fabric that protects the contents from the elements.
Price
Our initial plan is to sell the PowerRuckat a retail price of $350. This puts our product in
the low and middle range forhigh-end backpacks in the market. We want to price ours
comparable to high-end packs in the market, but offermore value through our product
features than comparable packs in order to make the purchase of our product an easy
decision by customers in this category. By offering a higher value at the same price we
believe we can generate sales and brand awareness more quickly. At this price point we
also believe that some customers who are shopping formid range packs will spend more to
get our product because its value will outweigh their price jump and overspending
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concerns. The $350 price point will allow us to capture the highest amount of potential
customers. We also plan to price additional add on features at prices that willencourage
customers to continue to make small investments in the PowerRuckthroughout the product
lifespan. The goal is to increase the switching costs forour product the longer that a
customer owns and uses it. The initial price point may change overtime as the company
lowers costs, builds brand awareness, builds customer loyalty,and customer perception of
the products value changes overtime. These changes will allow us to either lower price to
reflectlower costs or charge a premium because of strong brand reputation in the market
place.
Place
We decide to separate "Place"plan into three years. First year, we may not get enough
initial capital to run our business. Besides, we wantto lower the risk and focusthe capital
on research and development of products. Thus, our chief choiceis building an official
website to open market channel. For website's primary design, it willhandle free
registration, product introduction (ex. Size, Function and recent videos and photos), deal
information, events and new product will be updated punctually, customer feedback (use
the feedback to improve our products). Most importantly, our forum page will be free to
browsing and posting, share hiking paths and launch interesting events. For the second
year, depending on initial success, our product would be mature in the function and design,
and wewould have consummated user experience. We will start selling our product in
Cabellas in year 2 and REIin year 3. This willallow us toget more exposure to potential
customers. We willalso cooperate withsome local stores like PeakSports to develop local
community awareness of our product. We will set up a production warehouse in Portland,
Oregon. Portland is the biggest city in Oregon and have the high population density and
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visiting. Oregon has the high rate of forest coverage, that's attract many people participate
in hiking. As our research, there are 14 favoriteOregon hikes. (Figure 14)
Promotion
Our promotion of the PowerRuckwillconsist of a number of promotional techniques to get
our product out to the consumers. Our first movewill be to construct a user-friendly
website (PowerRuck.com).Whenyouclickon the website, youwill be taken to our front
page where you willsee a video of the backpack.The video is an important sales pitch
attachment because it shows off the backpack.It will one of our representatives of the
company testing out all the workingfeatures of our backpackas well as showing off the
sleek lookof the backpack.As a viewer, youwant to be able to visually see how the
backpacklooks on a person and how the features willworkbefore paying forany product.
Also on the website will be where wesell the backpackand accessories, give some more
detailed information about the backpack,have reviews on the backpack, have pictures and
other videos taken from people that bought the backpack,and information about the
founders of PowerRuck.
By the time the website is up and running, wewill also be making social media accountsfor
our PowerRuck.WithFacebook, Instagram, and Twitter,we will be able to advertise our
product to millions of viewers. By starting our social media marketing 6 months prior to
startup, we believe that our presence will be strong enough to get interest in our backpack.
MarketingBudget
After re-analyzing our marketing plan, we decided to cutback on spending in order to speed
the process of R&D and production of the product. We initially estimated a cost of $10500,
but with adjustments weestimate a cost of $8399.04. The marketing plan willbe primarily
funded from our Kickstarter campaign. The initial waveof funding will be put towards MVP
development, videoproduction, website production & social media, and promotion/ad
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implementation into outdoor magazines. For the first year of marketing, we willset aside 15
PowerRuckMVP’sat a cost of $300 a piece fordevelopment. The $4500 of product willbe
delivered tobloggers, outdoorenthusiasts, and high profile youtubereviewers in order to
develop some professional feedback forour product. This part of our business is reflected in
our milestones and financial statements. The next portion of our funding will go towards
video production and website production. We are looking to hire a videographer to film our
product and create a presentation forour customers. This will cost around $1000. We will
develop a website fromWix.com, however,we are looking to subscribe for their premium
business subscription of $12.42/month, whichwill comeout to $149.04/year. Our last
mode of marketing will be promotion in outdoor magazines. Promotion in magazines costs
anywhere from $2000-$3500, depending on the type of ad and how large of space the ad
takes up. We estimate the costwill be around $2750 for our first promotion in an outdoor
magazine. Total forthe first year of marketing willcome out to be $8399.04. For the
followingyears, we will limit our marketing expansion to a 20% increase depending on
funding. For year 2 it will cost $10078.85 and foryear 3 the marketing cost will be
$12094.62.
MILESTONES
Milestones/KeyMilestones:
The milestones forPowerRuckare broken down into 4 differentphases within the course of
a year. These phases will start with the source of funding and promotion, continue into
product testing, feedback, and advertising, and further the business into a permanent
location, then into shipping out our first products by the end of the year. Refer to the
Appendix for a detailed breakdown of the milestones.
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Phase1: (Jan 1- April 30, 2016)
Primary funding plan:
Starting in January of 2016, wewill start a Kickstarter ad with the popular website in order
to receive $50,000 in funding. We would like to secure 167 Kickstarter backers for the
product in order forus to distribute the money earned into actual products. We will be
giving the 167 backers their backpacks in October2016 to fulfilltheir commitment to our
company.
Secondary funding plan:
Our alternate plan forreceiving funding is through a small business loan. The reason weare
choosing a small business loan as our alternative is the ease of access. The loan is relatively
easy to secure and will be enough for us tofund our initial expansion and market our
product. We are expecting to be able to pay back the loan within a year of operation.
The next steps in phase 1 consist of website creation, video promotion creation, and MVP
development. For the website creation we decided to go with the website Wix.com. Wix.com
is an easy website to use when creating a unique, visually appealing website with yourown
URL. The cost of using Wix.com also appealed to our budget as it only costs $150 a year for
maintaining the website. The video creation willbe done by a professional crew.We are
expecting the video to cost roughly $1000 to create. The video will be added to our
Kickstarter campaign and our website. The last portion of the Phase 1 is the MVP
development. Wewant to produce the minimum viable product for our customers to test in
order to get feedback fromthem and improve the design. This phase will costus around
$4500 as we expect the initial production of the product to be higher than usual.
Phase2: (May 1- July4, 2016)
Suppliers (May 1-31, 2016):
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We will spend one month obtaining suppliers. We have three main suppliers on the list. The
first one is solar photovoltaic fromSandia National Laboratories. Sandia National
Laboratories scientists have developed tiny glitter-sized photovoltaic cells that could
revolutionize the way solar energy is collectedand used. This product is in testing and is
expected to be in commercial use by 2016. The second one is Anker's 10000 mAh capacity
storage battery, Anker is a multinational team of techies. They workhard to approach all
angles from a user’s perspective, starting with affordable, high-quality materials and ending
with 100% satisfaction. The third one is DIY Gear Supply, this supplier is kind of family
business, the founder's enjoyment of hiking and backpacking is what got him started in
building own backpacks,it's his loveof innovation, adaptation, changing, tweaking and
experimenting with design that pushed him into business.
MVP ProductTesting and feedback (May 1-July 4, 2016):
Our MVP testing is key forour products future. We are going to make 15 backpacks in May
at the full material price of $300, since wedo not have a bulk order yet. We are going to
distribute these 15 backpacksto people whowill test them to the extreme, we want our
testing to be endure the most to see where the weak points are and to see how they will
hold up. This $4500 dollar expense is going to be obtained in May through our material
expense. We are giving the 15 people through July to get the testing done, so we can move
forwardon fixing problems that we make encounter before our expected release in
September to our 167 Kick starter investors.
ProductRefinement (July 1- August 15, 2016)
Productrefinement is a crucial stage forour product. This is the time wetake all of our data
and information from our MVP product testing and feedback and fix what we have to fix
before we send our product to our customers. The 15 backpacks that we had made forthis
testing and feedbackwill have gone through every obstacle it will endure on backpacking
15. 15
and hiking adventures. If our backpackstructure isn’t enough we will talk to DIY gear to get
the bag in order before we start to sell. This phase is very important in the success of our
product. We cannot affordto have products comeback for warranty. This willcrush our
company and brand reputation.
Advertisement: (February 1-August 15, 2016)
We want our product to get out to the public in a very big way,we feel the best way to
advertise our product is through a video, website, magazine ad, along withbooths at trade
shows. The videothat wewant to create is our product in action in nature along witha
product overview of how things work. Most people are visual; they want to see how it can
pertain to them, if they were to purchase it. So the video is a great visual aid forthem. The
video wouldcost us a $1,000 dollars to make and will have it done by February. The
website is to give people the opportunity to purchase our product, get reviews from people,
and see the full inventory of our products, along witha photo gallery of our products in
action from people using our product. The website is going to costus $150 a year and will
be created in March. Our magazine ad is a great way for our product to get out to the
consumers. We want to advertise our product in outdoor magazines; we feel that magazine
exposure can get our name and reputation out there. The costs of magazine ads go for
$2750 and we want to have the ad in August when our product is on the verge of coming
out to the customers.
Phase3: (July 5-Oct 15, 2016)
Building Lease: (July 5-Aug 1, 2016)
We plan on acquiring our building lease in Phase 3 starting July 5th. The location forthis
lease will be in Portland,Oregon because of the big city with lots of hiking opportunities
around the area. Portland is also cheaper than other big cities so the rent per month would
only be about 875 dollars. Wefigure that during the summer months when we need to run
16. 16
our air conditioner a lot, our utilities would be 650 dollars per month but in other months it
will be as low as 350 dollars. We believe that wecan find a 2500 square footwarehouse in a
month in order to stay on track.
Equipment Purchase: (July 5-Aug 1, 2016)
Our equipment for making our product willbe bought for about 5000 dollars and will be
located in our warehouse. With our suppliers supplying us the basic backpacks,solar
covers,and battery packs, all wewill need to do in our warehouse is sew the pieces onto the
backpack.Our equipment is essentially sewing machines so that we can make the final
product from all these separate parts.
Advertising: (July 5-Sept 30, 2016)
During this time, we willstill be setting up booths for advertising our MVP backpack.We
will be setting up our last 4 booths during phase 3 while hitting 3 of the 4 in July.In August
will be the month when we have our last booth and also send in our medium sized ad for
the September issue of BackpackerMagazine. We should gain a lotof interest with these last
few advertising attempts.
Kickstarter products: (Aug 1- Sept 30, 2016)
In these twomonths, we plan on making our 167 backpacksthat our Kickstarter donators
have purchased. The first couple backpacks willtake longer to make but once our team gets
in the groove, weshould be faster at putting together the backpacks.
Phase4: (Oct 16-Dec31, 2016)
Productshipment & production output: (Oct20-Dec 31, 2016)
In this phase we willcontinue final production of our product at our warehouse and begin
shipping to customers. For single orders we willship our products using the United States
Postal Service (USPS).USPSis the cheapest and most convenient options for small
individual orders. For larger orders we have several options. Our first option will be United
17. 17
ParcelService (UPS).UPSwill allow us to ship orders up to 150 pounds customers across
the country. UPSalso has a small business program designed to help our business as we
grow and our shipping needs change. Our second option for large order shipping willbe to
coordinate with customers and have trucks already bringing goods to their stores stop at
our warehouse and pick up the products directly.
Financial Statement AnalysisandAssumptions
Key Assumptions
Market Size: Our target market is the hiking/backpacking industry of outdoor activities.
Having the large attractions such as the 59 National parks in the United States, and 38
million hikers/backpackers. Of Oregon's population of 3,970,000, 13.6% of them participate
in hiking/backpacking; so 539,920 people are potential customers in Oregon. If wewere to
assume that 13.6% of the United States population were to have been hiking/backpacking,
we are dealing with43,370,400 potential customers in the United States.
Market Growth: Peopleincreased participation in the backpackingand outdoor activities.
Hikers and Backpackers need the products like ours, so our product willbe accepted by
customers and have a good user experience, all of these willprompt our market growth.
Market Share: Less than 0.05% in year 1 and growing to around 0.40% in year 3.
Cost: The costof producing our product is $191 a backpack, withour selling price set at
$350 a backpack fornormal distribution, and $285 a pack forlarge bulk orders to Cabela’s
and REI.
Hiring Strategy: In the beginning, our teammates will be the only employees until we
employ twopart-time employees when westart making more products.
18. 18
Funding Strategy: We will start a Kickstarter ad with the popular website in order to receive
$50,000 in funding. We would like to secure 167 Kickstarter backers forthe product in
order for us to distribute the money earned into actual products.
IncomeStatement
In our first year of operation webegin to earn revenue. We wanted to push our minimum
viable product to the customer as soon as possible. This wouldallow us to gather much
needed feedback and give us enough time to flipthe product and start producing it in larger
quantities. If yourefer to figure 26 in the appendix, the revenue begins in September and
quickly reaches break even by early October.We plan on keeping our costs low in order to
reach break-even sooner. In September we decided to build 15 products for MVP testing,
whichwas reflected in the SG&A cost forthe company.Once we moveinto year 2 of
operation, weslowly increase our revenues until July,when we fulfillan order to Cabela’s
for 1000 units of our product. While at the same time we are still producing our product to
sell on our website. Revenues peak in 2017 to $320,625 and level out to $70,000 each
month thereafter. Moving into 2018, we lookto increase revenues to $105,000 and make
another order with REIof 1000 units. If yourefer to figure 25, the yearly net income
significantly increases from year 1 to year 2, then more than doubles from year 2 to year 3.
The two major contributors to the growth is our expected increase in demand and the big
contracts withtwo large name retailers.
BalanceSheet
On the monthly balance sheet foryear 1 (Figure 29) we had a positive cash inflow due to
Kick Starter investment. This cash was collected in February 2016, $50,000 worth. We
received this through 167 investors on Kick Starter. In year one, weplan on making a profit
as a company in mid-October. September is when our 167 investors from Kick Starter are
19. 19
going to receivetheir products. October weplan on selling 125 and this is the first month
our product will hit the public market.
Our annual balance sheet (Figure 30) shows that our cash fromyear 1 to year 2 is
nearly tripling while the cash from year 2 to year 3 is nearly doubling. The amount of cash
that our company is going to inquire is going to fluctuate due to the factwe plan to have big
named stores (Cabela’s and REI)placing orders in July of years two and three. These big
named stores are going to help our company brand greatly because when people go to these
places they know that they carry the best, which willboost our brand name. Another big
thing in our annual balance sheet is that we plan on not having any more rounds of funding
after the $50,000 KickStarter investment. We feel that onceour productstarts tosell and
the money starts coming in, we will be able to sustain our business on our own. Of course if
the time comes and our company is growing at a rate that we can’t keep up and we need to
lookfor an investment to expand our company,we will keep an open mind.
Inventory for our product in the first year is for 15 prototype products that willgo
through tests and experience the ultimate breaking points to see what our product can
handle. We will have a very light inventory at the end of year one, $73,000 worth just for
Octoberthrough December. But years twoand three weplan to ramp up our inventory
greatly. Year 2 weplan to have nearly $550,000 worthof inventory and Year 3 have nearly
$880,000 worth of inventory. We want to have a big inventory to be prepared forthe big
orders and to never fallbehind. We do not want to lose customers because of our lackof
inventory.
Finally our equipment is a very low cost, year 1 is $5,000, year 2 is $10,000, and
year 3 is $15,000, mainly because we are outsourcing most of our product. The equipment
is forsewing machines, computers, and other officenecessities. The sewing machines are
20. 20
just forfinal assembly of the solar panel and battery to the backpack.We plan on making
more products in years 2 and 3, so we will buy more equipment in those years.
CashFlowStatement
When referring to the monthly cash flow statement (figure 32), youcan see the first month
of business is the only month in whichwe will have a negative ending cash balance. This
negative cash flow comes from our initial patent cost. The next month we will raise our
Kickstarter funding, and willimmediately pay off our negative balance from the previous
month. The Kickstarter funding will be used to coverall expenses in the first months until
we breakeven in October (figure 32). Our annual cash balance in year one will be positive,
and willcontinue to grow in years twoand three. Outside of the Kickstarter funding in year
one, our cash balance while be completely stimulated from revenue, and the company will
require no additional funding or need to take on debt. This can be shown in the annual cash
flow statement (figure 31) where we record no cash from financing activities. The annual
statement also shows that the company will be making few investments overthe three
years of operations. All of this taken together puts our company in a strong cash position to
handle any situations that may occurduring operations.
Critical Ratios
Operating ProfitMargin is an indication of the firm's profitability from current operations
without regard to the interest charges accruing from the capital structure. This ratio is
important to both creditors and investors because it helps show how strong and profitable a
company'soperations are. PowerRuck’soperating profit margin is calculated to 28.21%. We
got this number by dividing our profits before taxes and interest by our sales. Our operating
profit margin is 6.21% higher than the industry average of 22% which means that we are
more efficient and running our operations more smoothly. Also a company with a higher
21. 21
operating profit margin shows that the company is making enough money from its
operations to pay forits variable costs as well as its fixed costs.
Net ProfitMargin measures the amount of net income earned with each dollar of sales
generated. Creditors and investors use this ratio to measure how effectively a company can
convertsales into net income; basically if they are running efficiently.18.19% is our net
profit margin and got that when we divided profits after taxes by sales. The industry
average is 20% and is higher than our percentage. We want to be above the industry and
thus need to lookback at our financial plan to see if sales prices are relatively low or that
costs are relatively high, or both. It is only a bit behind the industry average so we won’tbe
making any drastic changes to our business model.
Total Asset Turnover ratio shows how efficiently acompany can use its assets to generate
sales. The total asset turnover ratio calculates net sales as a percentage of assets to show
how many sales are generated from each dollar of company assets. Totalasset turnover is
found by sales divided by total assets. When calculated, PowerRuckhas a 1.45 total asset
turnover while the industry average is 0.83. A ratio below the industry average indicates
the company is not generating a sufficientvolume of business, given the size of its asset
investment. PowerRuck’stotal asset turnover ratio gives investors and creditors an idea of
how our company is managed and uses its assets to produce products and sales, better than
other companies.
Return on Assets shows how efficiently a company can covertthe money used to purchase
assets into net income or profits. It also measures how efficiently a company can manage its
assets to produce profits during a period. It is accurate to measure the productivity of assets
by the returns provided to both classes of investors. Our return on assets number that we
got was 45.43%. To get this percentage, we divided profits after taxes by total assets. The
industry average for return on assets is 36%, so it shows that PowerRuckis more effectively
22. 22
managing its assets to produce greater amounts of net income. This ratio is very important
when looking at the future because high ROA ratios usually indicates an upward profit
trend.
26. 26
Figure 7: US Per Capita Disposable Income
Figure 8: Electricity UseTrends
27. 27
Figure 9: 25 Top Mobile Apps
Figure 10: Primary Research on likelihood of purchase
28. 28
Figure 11: How often customers use similar products
Figure 12: Age of respondents
29. 29
Figure 13: Gender of Respondents
Figure 14: Hiking locations throughout Oregon
30. 30
Figure 15: Number of Participants in outdoor activities per year
Figure 16: Map of natural disaster prone locations
31. 31
Figure 17: Total Expenses chart
Figure 18: Milestone Timeline
Activity Start Finish Details Cost
Phase 1: Startup and Early Development 1-Jan 30-Apr $7,500
Patent 15-Jan 30-Jan Get a patent on our backpack $1,850
Video/Photographer 15-Feb 3-Mar Hire a photographer to take videos and pictures $1,000
MVP Development 15-Feb 30-Apr Make 15PowerRucks for celebrity testing $4,500
PowerRuck Website 3-Mar 20-Mar Customer-friendly website with product video $150
Phase 2: Product Refinement and Advertising 1-May 4-Jul $111,272
Backpacker Magazine 25-May 10-Aug Medium-sized ad in Backpacker $2,750
PowerRuck Booths 25-May 10-Aug Gain exposure with booths at 10outdoor events $5,000
Supplier Cost 1-May 4-Jul Acquire suppliers to start making backpacks $103,522
Phase 3: Opening Warehouse and Product Production 5-Jul 15-Oct $10,250
2500sq ft Warehouse 5-Jul 1-Aug Look for and find a workspace $5,250
Equipment 5-Jul 1-Aug Buy some equipment to start making backpacks $5,000
Start of Making Backpacks 1-Aug 30-Sep Make our first 167backpacks to Kickstarter donators $0
Phase 4: Product Shipping 16-Oct 31-Dec $4,878
Make More Backpacks 20-Oct 31-Dec Make our final 375backpacks for customers $0
Shipping 20-Oct 31-Dec Ship out the completed backpacks $4,878
Total $136,900
32. 32
Figure 19: First year profit chart
Figure 20: Breakeven point (2016)
Figure 21: Year 1 Monthly SG&A Forecast
33. 33
Figure 22: Year 2 Monthly SG&A Forecast
Figure 23: Year 3 Monthly SG&A Forecast
Figure 24: Capital Expenditure Forecast
34. 34
Figure 25: Yearly Income Statement
Figure 26: Year 3 Monthly Income Statement
35. 35
Figure 27: Year 2 Monthly Income Statement
Figure 28: Year 1 Monthly Income Statement
39. 39
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