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Section 1: Promoting two products to two different market segments

Extracts from this document...

Introduction

Introduction Marketing Services Ltd is currently planning a product launch for the 'Umbrella Company Ltd.' In a short period of time 'Umbrella Company Ltd' shall be importing 'Regenerate' - A face wash for men for the first time in Malta. 'Umbrella Company Ltd.' are the sole importers of 'Regenerate' As Marketing Services Ltd. we were asked to form part of the team who will prepare, the product launch of 'Regenerate' a face wash for men. Section 1: Promoting two products to two different market segments The Consumer Market The 'Regenerate' For Men target audience are; the individuals and households, further detail is given below. Individuals Family Life Cycle: Young and Single Age: 15 - 25 years old Gender Male Income: Lm 480 + Occupation: Students Education: Secondary students Post secondary students University students and First jobbers Social Class: Working class + Life style: Actualisers Achievers Strivers Personality: Gregarious Compulsive Ambitious Benefits: Seeking a quality product User Status: First-time user Usage rate: Heavy user Readiness Stage: Ready to buy Interested Loyalty status: Strong Attitude toward product: Enthusiastic Motive: To have a fresh and young look and to get rid of any unwanted acne. Households - Young Married Couples Family Size Cycle: Young, Married with children Young, Married without children Age: 26 - 35 Income: LM 3,000 + Occupation: Professional & technical Managers Officials Proprietors Clerical Sales Foremen Operatives Homemakers and Unemployed Education: Grade school + Social Class: Working Class + Life Style: Strivers Achievers Personality: Gregarious Benefits: Seeking a quality product User Status: Regular user Readiness Stage: Informed, Interested Attitude towards product: Enthusiastic Positive Motive: To have a fresh look and keep up to date with today's society Business Markets Expandable Place is a portable, compact, inflatable, delicious cereal pack. It arrives in a really small pack that does not occupy any space. Once milk is added with Expandable Taste, it inflates and becomes a nutritious breakfast. ...read more.

Middle

> The standards of living will improve even more so (compared to other countries that went through such an improvement). Every business will benefit from such a thing. - Our business sector is expanding, as people are becoming more cautions of their Image, this envisions many future opportunities for success e.g. a wider range of products and opening new outlets (in Valletta) - Our continuous advertising on magazines and billboards will not make it easy for people to forget about our company and in the long run create presence in the fashion industry, aiming to be leaders in the local market. Threats: - Being part of the E.U will result in various negative causes including: > The country will probably be experiencing a recession period once we become members and it will take time in order to settle economically. - As time passes by, Malta's population is becoming even more aging. As we are targeting the younger generation (15 - 45), in the future the rate of people with that age will decrease radically. Moreover the birth rate is very low. After doing this a business will be able to focus on its strengths, minimize its weaknesses, take the greatest possible advantage of opportunities available and if possible avoid future threats. 4. Objectives: Desired Sales Volume We are targeting that Umbrella Company Limited will sell 24, 000 face washes within a year. Market Share We are aiming to have a market share of 6%. The market research The Primary Research A questionnaire was used to identify how many men in Malta suffer from acne. This questionnaire was distributed to: * Secondary school students; * Post secondary school students; * University students; and * Various working sectors. From this questionnaire we were able to identify: * approximately how big is our market segment; * what they prefer to use for their daily facial care; * how are they ready to spend for a facial product; and * which products that are mostly used by men for their daily facial care. ...read more.

Conclusion

Also there will be a stall where interested clients could buy the "Regenerate" for men face wash. 6. Projected profit and loss statement: Here one could find the Balance Sheet and the profit and loss account of 'Regenerate' For Men face wash 7. Controls: Within an organisation it is important to keep control upon all ( most of) the on going's in the organisation, so as to take precaution just in case any mishap occurs, or so as to avoid any disaster which may be foreseen. Apart from the other factors, the most important factors to take most control upon are: * Debtors accounts, * Debtors due dates, * The accounts of our company, * Selling ratios, * Stock checks and, * Delivery times Debtors Accounts / Debtors due dates are important to keep an eye upon, just incase: * The debtor is not in good financial terms. * If the debtor is not in good financial terms then we shall not sell a big bulk on credit. * The debtor is not paying us on time. * The debtor has a high pending bill to be paid off. * We need to chase the debtor if he has a high pending bill and has not given any reasons. The accounts of our company are also important to keep an eye upon (monthly) this is because: * It is important to compare the actual to the budgeted accounts * If the actual has differed form the budgeted it is important to find out the reason - whether it is valid or not. * Mistakes done on a monthly basis are easier to correct then on a yearly basis. Selling ratios are important to take into consideration so as to be able to know how much to buy on our next consignment, and if we are not selling our product as expected to, we can research upon what is the reason and how can we escape such an obstacle. Stock checks and delivery times. ...read more.

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