Benefits which includes saving money, because it is cheaper to make products using recycled materials. Products that are made from recycled and innovated materials can also be purchased at a cheaper price. Recycling benefits the economy by also reducing expenditure in other ways. The recycling business sector is growing and developing into an extremely promising industry. Growth Trends In This Business Strong demand for recycled and innovated products is working in the industry favor.
Major users of plastic packaging, apparently responding to consumer desires, eave begun incorporating at least some recycled plastic content in their products as part of the growing interest in recycling. The market for this products is growing as population grows and new household formations take place. This is especially true in expanding economies as the standards of living make further gains. Also household purchases are increasingly being made through large chain discount retailers which we plan to focus on serving.
Pricing Power We will not initially enjoy pricing power in marketing innovated accessories. Discount chains will be primarily interested in price. We are considering to determine the price by "cost plus 20% mark-up or value based pricing strategies Our ultimate goal is to build a line so unique and promote it so effectively that consumers will be willing to pay a premium. Our long-term objective is to build a market that is not entirely based on price. Market segmentation D' Innovation's primary target market will be those artistic individuals, as well as the students and office workers.
Order custom essay Draft Business Plan with free plagiarism report
Segmenting Consumer Markets Geographic - Dave City Demographic - We plan to segment our products at schools and offices with respect to population. Cryptographic - We also plan to market it with respect on the lifestyle, personality, values and social class of the consumers inside the geographic and demographic aspect. Advertising Marketing Plan Initially our price structure will be based on a maximum markup of 20% in order to provide a strong price incentive. We will be depending on the combination of fresh styling, quality and price to break into this market.
Short Range Plan (6 to 12 months): Initially our advertising and promotion will be done on an entirely personal basis without any budget for paid advertising. We will utilize direct mail and face-to-face promotional strategies to raise awareness about our products and services in the target markets. It will be our plan to limit our advertising budget to personal travel expenses in making these presentations and follow-up presentations. Mid Range Plan (12 - 36 months): To establish brand recognition at the retail level, we plan to budget 2% of our sales.
Newspaper advertising may also be used. Radio and television ads are not certain, we will evaluate their effectiveness before further implementation. We will solicit presentations from local advertising agencies. Long Range Plan: D' Innovation Corporation plans to aggressively build brand recognition and loyalty by budgeting 5% of sales, which will be allocated between space advertising in trade Journals, appropriate consumer magazines and Joint advertising with my customers.
Cite this Page
Draft Business Plan. (2018, Jul 19). Retrieved from https://phdessay.com/draft-business-plan/
Run a free check or have your essay done for you