This paper illustrates the core concepts that are involved in the making and implementation of the Odor-Shield’s business plan, which is Measurable, Attainable, Realistic, and Timely (S.M.A.R.T.) as well as identifying the opportunities, and the initiative taken to construct something different and innovative on the market, a new business venture concept to provide a fragrance filled disposable apparel that eliminates body odor. This business plan contains the identification of the company’s target market; strategies to penetrate the target market, industry analysis, marketing plan, effective pricing strategy, and operational plan of the company in its early stages, and potential financial challenges the company may face in the future.
(I) THE BUSINESS
Company’s vision:
To make Odor-Shield a benefit to hardworking men and women in the fight against body odor
Mission statement:
The scent of your body is our priority. We strive to provide you a safe, fragrance filled quality product to eliminate body order at an affordable price
Company’s goal:
To make Odor-Shield a well known and user friendly product in the physical security industry in three years
(II) Objective
The objectives that Odor- Shield Inc. intends to focus its strategy on increasing the following by percentages:
- Increasing market share by 5%
- Increasing repeat purchase by 10%
- Increasing volume of sales in the US by 6%
Increasing Odor- Shield’s market share by 5%: Since the company is entering a
PetSmart is one of the largest specialty pet retailers of service and solutions for the lifetime of pets. More than 1008 stores are open in the United States and Canada that provide pet foods and supplies that are priced reasonably. PetSmart provides all types of services for pets including pet training, pet grooming, pet boarding and adoption services. In addition to providing impressive value PetSmart has the broadest, deepest product range in the industry, including thousands of products exclusive only to PetSmart. Every year PetSmart takes care of the grooming for hundreds of thousands of pets in what PetSmart calls its PetSmart Salons. These animals are groomed and pampered by stylist who have
Old Spice is very blatant in the way they attract their customers. An obvious example is The Man Your Man Could Smell Like commercial. In this advertisement Old Spice envisions their audience to be anyone who is in a relationship or trying to be in relationship. The more obvious targeted audience is the female audience. To attract the female audience they put an attractive man in the commercials and try to make it seem that if their “man” uses old spice body washes their “man” will be like him.
Bath & Body Works (BBW) enjoyed a successful decade after its inception in 1990. However, over time their limited offering of products was sending their customer base to other retail chains - either trading up to better brands or trading down to cheaper prices. As demand for their product seemed to dwindle, they needed a way to increase their customer base. An increase in
Marketing is essential for every business, be it a small household business or a large multinational group. All businesses depend on marketing in one way or the other. Setting of goals according to entrepreneur’s visions marks the starting o f the plan. It is better to do proper research and documentation before launching a product in the market or else the results will not be according to one’s thinking. Raymond Morose is the owner of Pet Palace and has been running this business for the last 44 years (Manta, 2010). Raymond Morose is running the business with a small staff but is very clear about his goals, as he has set his goals according to SMART approach. SMART stands for specific, measurable, achievable, relevant, and time-based and
Good personal hygiene is important in many ways to individuals. The main reason is regarding the health and wellbeing. We can maintain good personal hygiene by showering regular, washing hair and using anti-perspirant deodorants can all help kill harmful bacteria’s that could lead to health risks and illnesses. These products also prevent odour build up, that can lead to unpleasant smells. These may in turn impact on the individuals lives.
Next, following the framework, the company must evaluate whether the product will be successful. Researching the company’s competition as well as the average market share could give insight to whether certain styles of high-end children’s clothing would be successful in the current market. Also, researching potential threats to business will be useful in designing a product that, both, fills the needs of the customers and offers features that can be protected by either a patent or trade
The fragrance market is the major part of the care market. During the 90’s, this market has known a considerable growth. Currently, it might be entering a maturity phase. The perfume market is highly competitive and there are a lot of fragrance houses which are competing for sales. The total global market is over 25 billion Dollars.
Deodorant: we all wear it – though there is always a smelly kid or two that you can’t help but have your doubts about. And you know what; I’m changing my ways, I’m becoming one of those kids. Because screw deodorant. I’m giving up. Why? Because of all the shelves filled with pretty bottles of female deodorant there was one, just one, deodorant advertised as specifically designed for a “sportswomen”.
We went about the research and production in a few steps. First we made a power point video and then we did a voice over on the video. The video was made from slides of words and pictures that we found on the internet. We also found data on the subject. One fact that the Daily Mail found out was that one in five men admitted to never using deodorant or any other kind of body spray (Tozer, 2011). We also found out through the Huffington Post that deodorant has antibacterial that stops the stink of body odor before it happens while antiperspirants deal with sweat directly (Klein, 2013). The final fact we found that was interesting is
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This situational analysis includes industry forces, company statistics and financial information, a list of environmental factors that deal with how the company operates, and competitor information.
Neutrogena uses a slow, more expensive manufacturing process to mold its fragile soap. In choosing this position, Neutrogena said no to the deodorants and skin softeners that many customers desire in their soap. It gave up the large-volume potential of selling through supermarkets and using price promotions. It sacrificed manufacturing efficiencies to achieve the soap’s desired attributes. (trade-offs that protected the company from imitators)
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