Mitchell’s New Product- The R-EZ Universal Remote Executive Summary Mitchell’s Electronics is excited to introduce the R-EZ Smart remote control. The R-EZ is a perfect addition to a family’s home theater. With today’s advanced home theatre system, and the multiple remotes needed to operate each system, can become infuriating. The R-EZ remote makes controlling the home theater system EZ. The remote has capabilities that automatically detects device codes, so programming the television or Blu-ray dvd is simple as 123. Opportunity has opened up for easy to use universal remote by way of high demand and record number sales of smart televisions and smart blu-ray dvd players. Our main marketing objective is to achieve first year U.S. sales of 200,000 units. The main financial objective is to achieve first-year revenue of $20 million, keeping first year losses to a minimum $1 million and break even early in the second year of sales.
Table of Contents
Current Marketing Situations
• Market Description
• Product Review
• Competitive Review
• Channels and Logistics Review
Strengths, Weaknesses, Opportunities and Threat Analysis
• Strengths
• Weaknesses
• Opportunities
• Threats
Objectives and Issues
• First Year Objective
• Second Year Objective
• Issues
Marketing Strategy
• Positioning
• Product Strategy
• Pricing Strategy
• Distribution Strategy
• Marketing Communication Strategy
• Marketing Research
• Marketing Organization
(1)We wish to achieve an NPV ranking with the top ten advanced firms by Quarter 4, 2014. (2) We also want to attain a debt/equity ratio of 1.2 and maintain it until Quarter 4, 2014. (3) Continually, we want to maintain a Quality Ratio Rate of Return of 3% or lower by Quarter 4, 2013. (4) UPDATED: Lastly, we wish to attain a total Market Share of 20% for perfume in the NAFTA and EU trade areas as well as 25% for aftershave in
Net Sales – totaled $4,485,000.00 for year 6, and grew +33.3% or $1,495,000.00 between years 6 to 7.
We evaluated our company’s position in the industry, and found ourselves in an excellent starting position to further develop our products and match them to the industry’s needs. Our market share is adequate and we can advance further with our strategy improve and reposition our products in the coming years. We have underutilized capacity, which we intend to improve, while increasing automation to reduce costs. We have plans to improve our promotion to improve product awareness and with the appropriate product lines we will increase price to improve margins and better align our high-end product image. Our current financial position is optimistic, showing our leverage (Assets/Equity) at 2.0, when our goal is to maintain 1.5-2.0 overall. By utilizing the analysis tools we are learning what elements are driving demand, how to effectively tailor our products through R&D, how best to adjust our marketing and pricing, while lowering input costs, in order to improve margins and to ensure our stakeholders are all satisfied.
To reposition its water as a premium product, Healthy Spring will require an increase in its advertising and promotion budget of $900 daily. What is the maximum sales loss that Healthy Spring could tolerate before a 20% price increase would fail to increase its net profit? (That is, what is the breakeven sales change, including the incremental fixed cost of the advertising campaign?)
Although the company did show an increased gross profit of $8,255,000 with $6,358,000 less Net Sales in 2013 versus 2012, that increase is due to the reduction in product Cost of Goods Sold by $14,613,000. Since increases in product price will negatively affect sales, one of management’s primary goals is to keep prices stable. This objective is achieved through implementation of cost cutting programs, investing in more efficient equipment, and automation of more steps in the production process.
The goal is to generate an income of $40,000 per year, starting sometime in the second year of operation, as wells as profit that is at least 2% of sales.
Throughout these first phases of our company, Orange has created a positive financial pattern. While we implemented an aggressive growth strategy and expanded our empire internationally, we kept our costs to a minimum. Naturally, we started Quarter 2 with a deficit due to startup costs. Unlike most companies, our costs were controlled however, and we were only behind by just over $12,000. As advertising has always been a core competency of our company, we spent a total of $109,471 developing and promoting our first batch of advertising. The leasing
With the advancements in home entertainment systems, consumers are investing thousands of dollars into their own home viewing systems. They have several options to stream video content into the comfort of their own homes. Home entertainment systems have also made a large impact on the theater industry. In 2005, this technological advancement was the most sought after electronic system for new homes. It seems that consumers have finally said no to the rising price of movie tickets and concession stand snacks and beverages.
Based on the master budget, there have something wrong and unclear. All the numbers are the same, evenly quarter two have more sale than other quarter, at least less 30% than quarter two. We can easy to recognize with a few changes and we can achieve a goal $1.000.000
The first part is about the corporate objectives and strategy. In detail, at the end of year three, Erie aims to be one of the two leading companies in the market with a net profit of $10,000,000 and 25% of market shares of the whole industry.
Established in 1984, 210 full-time employees, 200 part-time employees. 2006 sales = $1.9 Billion. Dealing with an
The company has laid out plans to ensure the success of the project. We plan to hit the break even point within year two. Our expected revenue will be $16 billion yearly. We intend on increasing consumer products by 10% as most items are only currently available online. We plan to create and market a new Australian based character. The projected attendance, revenues, and so on.
(1.98 is also reasonable select. Since there is no brand image or loyal customer, it's not big problem to price very low as long as defend VC. Profit is only $4000, but as long as the business continues it's better than nothing.)
Objective Regain blackberries 20% lost market share, and improve overall net profit vs. last year by 13%
For Coracle to improve sales in the second half of the year and come closer to meeting the first