The EnerGlide Technology Corp in Kelowna is a company that has provided safe and reliable watercraft for leisure activities for by utilizing innovative and eco-friendly technologies. We are seeking for more channels of distribution, and more investment to fund the growth of our brand. This plan below introduces our market, our core technologies and marketing strategies. The detailed financial plans show a clear view of our previous sales and profit forecasts. The latest attraction of our company are “electric drive technoglogy and breakthrough streamlined hull design to maximize power efficiency and enjoyment for the operator and passengers”.( http://www.energlide.ca/company.html), which means we will hold a competitive and impressive …show more content…
This product is produced at our contract facilities in Kelowna. Production of watercrafts will be managed and transported to sell in our contract stores. Our price setting is based on the materials and will be positioned to a reasonable market price.
1.3 Market opportunity The EnerGlide Corp. will occupy an important market position in entertainment equipment area. Not many brands can offer products that combine eco-friendly features and entertainment equipment together. The local watercraft market in Kelowna has seen the growth of consumption of equipments for exploring the ocean. Not only the local market, we can expand it to the whole province, the whole country or even overseas. There are tremendous opportunities for our company as one of the dominant providers in this area. In order to establish an important brand in this area, we have three steps to follow :
“1. Clear, consistent messaging, across all platforms 2. A rock solid market position 3. Everything in your business must support your market position” (Wardell,2015)
1.4 Financial projections In order to ensure the production line of our watercrafts, an initial outlay is required for our
Price will reflect a reasonable pay for the SLP- this is determined through the market demand and market research
When it comes to judging the alternatives with the most important factors of profit maximization and competitive advantage, the recommended option to become focused on family diving vacations is much stronger than the option to specialize in shark diving. (Displayed in detail in Exhibit 2). Partnering with Rascals posts the highest first full year profits of $166,000 compared to the adventure focused and cost efficiency alternative that posts a first year profit of $112,000. Further, the partnering with Rascals has projected revenues that are sustained further out in the future because of the competitive advantage gained when moving into the family oriented diving segment rather than the adventure oriented segment. The difference in estimated revenue between the two in 2011 is approximately $620,000 with the family specialization solution
Pricing is a relevant issue in procurement at all levels. Individuals purchasing the commodities of an organization should receive clarity on pricing. There is confusion in this
In order to achieve our first marketing objective, we recommend the following activities: Keep producing high quality, positive image products that satisfy customer’s needs. Secondly, the team must maintain direct and indirect sales force of no less than 140 and plan in advance in order to have the budget to do so. We also recommend offering employee fringe benefits to encourage long term positions
When trying to determine the correct price, a number of factors must be considered: the market and its segments, the size of each segment, the ability to reach each segment, what distribution channels to target, whether to vary price by segment, the usefulness of promotional offerings, and whether the goal is to skim or penetrate each market.
4) Based on your positioning strategy, what brand name and marketing budget allocations would you advise?
Develop an action plan of strategies and tactics to be implemented. Finalize the marketing plan.
When you’re in the way in establishing your brand identity, you have to make sure that you have cohesive branding guideline.
One of the rapid producing leisure industry divisions, the cruise industry faces several challenges. Whereas supply continues to rise at double-digit levels, demand battles to keep speed. Known the demands on communications and the jeopardy of an eroding on-shore practice, less port are in a location to provide accommodation the cruise lines as supply grows. At the similar time, the community sector's inspection of manufacturing practices associated to the surroundings, duty, safety, protection and work increases. Regardless of these confronts, numerous cruise lines report record levels of productivity. This analysis will calculate the leisure-cruise
1) Invest heavily in market research section in order to create market-driven products and services.
Mariotti & Glackin (2013) provide that development of marketing strategy and competitive advantage is from the "Four P's". The "Four P's" include product, price, promotion, and place. This paper further outlines each of the "Four P's". Mariotti& Glackin (2013) recommend continually referring to the mission statement and vision statement while developing the marketing strategy. This reference helps to build the marketing strategy and form the core competency for the business. The first part of the business plan, the mission and vision statements, are stated below:
Our essential goal would be Awareness and auxiliary target would be learning. I pick Awareness as a main objective because Taco Bell will be new in New Zealand. Just few individuals think about that what it is. So we should focus on spread awareness about our brand, about its product and about its positioning. Generally, a game plan of events is needed before a customer will buy a thing. The buyer should first be Aware that the product exists. He/she then be impelled to accommodate some thought with respect to the thing and what it may give. In the accompanying stage, the need is for the buyer to survey the advantages of the product, positively attempt the thing endeavour. A decent experience may prompt continued with use. Note that the customer must experience the prior stages before the later ones can be satisfied.
In pricing strategy, Miele sets high price as a symbol of high quality product and differentiation
The strategy for setting a product’s price often has to be changed when the product is part of a product mix. In this case, the firm looks for a set of prices that maximizes its profits on the total product mix. Pricing is difficult because the various products have related demand and costs and face different degrees of competition.
• Focus on growing core brands across categories, reaching out to new geographies, within and outside India, and improve operational efficiencies by leveraging technology.