COVID 19- is a new virus which started at the end of December in 2019. The virus started to spread very fast, so all the people over the world became exposed to danger. Unfortunately, since this is a new kind of virus, medicine has not found an effective vaccine yet.
One of the solutions to stop the virus and protect the population from COVID-19 is our high-quality, modern, eco-friendly, and well designed “ring”. The product will save people from COVID-19, and they will protect and strengthen their immune system.
The idea to create “power ring” was born from needs on the market in pandemic time. The aim was to produce the product, which will be as practical, lightweight, comfortable, and minimalistic as it can be. Every design begins with functional need. The key in creative process was to design product that will be as simple as possible and authentic.
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Moreover, we strive to ensure people's safety, maintain health, and improve their life expectancy. During this hard time, statistics shows that people consume less and buy only first aid products. COVID-19 ring is the thing that it is very useful and innovative.
As we mentioned in the beginning “Power ring” will be produced from good quality organic plastic, the price a product will be attractive being competitive price that is not very high, and everybody can afford it. We came to decision to fix the price to fifty euro due to high costs on raw materials, production costs, labor wages, free shipping, and promotion (PR).
A team of employees would consist of ten people. Our administration pays workers fair wages, uses domestically produced yarn, as well as environmentally friendly eco-plastic. All of these factors lead to an increase in price, but we hope that customers value these things just as much as our team does.
Moreover, we have created a special beneficial package for our employees. The rings for Covid-19 will be available online, on the website with 24/7 chat, where our employees will be ready to help customers to choose the best size and model for the rings. Timely delivery takes 1-2 days for countries in Europe, and 2-8 to other countries outside of Europe.
Promotion is one of the most important aspect in business development. Facebook, Instagram, Google are the platforms where we will be promote the product and attract new customers. What is more, we will allocate one percent from the sale of each ring to help hospitals and for the help for the lonely and elderly people.
We have to take action and encourage others to help each other. As Mahatma Gandhi said, “You must be the change you wish to see in the world”. Obligation for dealing with the business in responsible matter along with constant improvement is a leading goal and driving force for “Power Ring” company.
Our customer is defined as a global citizen. We want to provide a product that is easily available and satisfies all customers. The customers will be those who are afraid of a virus and want to buy a thing that will protect them from the diseases. As we know, COVID-19 is the most dangerous for people up the age of 60, so they will have the opportunity to buy products on pre-sale. Children, pregnant women, and disabled people will have the same privilege as elderly people.
With this offer, we want to speak to people all over the world, and give them hope, a positive message, and a bit of protection by the product. The result of the competitive research was very beneficial because we find out that there is not a typical ring for COVID-19 in the industry.
On the market, we can find one brand called OURA; their rings can only predict and inform you if you are sick in the early stage of the disease. The prices are beginning from 314 euros to 1049 euros. The products are available worldwide and you can buy them online on the website.
Their services are very well organized, as we can see on their platform. It is very clear and it’s easy to decide what ring the clients need. Brand offers different colors of rings in many sizes; products are made from good quality silver. Rings were mainly designed to track people's body output, 24/7, but they can control COVID-19. They are very modern, comfortable, and stylish.
To complete and sum up the full marketing strategy, it is advisable to draw up a so-called SWOT matrix, which should contain market-relevant strengths and weaknesses of the company, its opportunities, as well as economic threats to the company.
Analyzing the current situation of the enterprise, we determined its strengths and weaknesses, and by predicting the future, identified opportunities to continue the company's activities and economic threats to it. The SWOT matrix is a visual material for planning the company's further activities to overcome its (weaknesses) and use its market advantages (strengths).
SWOT matrix compiled during the analysis of the market position of our “ring for COVID-19”.Strength of our enterprise is that we are producing our product from bio-plastic, which supports the protection of the Planet, another strength is that we are using modern high-quality materials, its design, although its great benefit in the protection of health, competitive price.
Weaknesses of the enterprise are the threats to the company associated with the presence of strong competitors in the market. Opportunities of the enterprise are service, free and timely delivery, product replacement guarantee, awareness of consumers in relation to the company.
What is more, the main mission of the company is to stop the spread of this deadly virus, and to protect our supportive customers. Business is a race to see who can be the first to bring a product to the customer, and inventions and ideas are often born around the globe by any number of individuals.
The “Power ring” company goal is to be innovative and fast to react on what is going on all over the world. We must live in the present and focus what is important and what’s people need in the market, that’s why we will create ,, Power Ring’’, which influence customer live in positive aspect. Focus on the health, sell high quality product and spread good energy is the motto of the “Power Ring” company.
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