Marketing Aspect - Free Essay Example

FEASIBILITY STUDY Marketing Aspect Isaiah Mark Millanes Wendy Encarnado Catherine Del Rosario Leopoldo De Honor Maria Charlyn Balangawan Bachelor of Science in Business Administration Major in Operations Management MARKETING ASPECT I. Product The proposed business will offer fashionable accessories with useful features called wrist- wallet. It is a combination of wrist accessory but at the same time it has also a secret wallet with detachable coin purse. It is made up of poly canvas, a type of fabric with different printed design and bids according to the taste of the customers and ideas of the designer. Like an ordinary wrist watch, it has an adjustable lock. At the back, it has a secret pocket as a place for money bill. On the one side, it has a hook where a coin purse can place. II. Marketing Mix i Product ii Place The proposed business will be located in Robinson Plaza Dasmarinas which is near to the prospective customers with other establishments and fashion outlets. ii Promo tion Being a new entrant in a business world, one of the most difficult and critical aspect that the business will be encountered and need a lot of effort is to how the product will be going to promote and advertise. The proponents will use some promotion strategies to persuade potential customers to purchase and patronize the product. Personal selling and sales promotions are used in order to encourage III. Target Market |Fashion ‘n Style |ZULIT |GIFT COLLECT | |STRENGTHS |The product is new in the market |They has a different variety of product | | | |It can be customized and even as personalized gift |Each of their product has a fixed usage | | | |A multi-purpose product |and style | | | |Following new trends and can be worn by all ages |Cheap Price | | | |Products are at a reasonably priced. | | | |WEAKNESSES | | Poor in quality | | | |Minimal capital |Products are not easily be recognize | | | |Unfamiliar product and not classified as basic needs |Unorganized et of produ cts | | | |No distribution channel | | | |OPPORTUNITIES | |Many customers patronized them because | | | |Creating employment |of cheap prices | | | |Demand of safeties handling money/ bills |They can easily adopt to seasonal | | | |More teens and fashion lover are likely to try and experiment |trends. | | |new trends of product | | | |THREATS |New entrants to market |They may lose customer if unorganized | | | |Lots of promotion and ways of introducing to market which may |continued. | | | |cause an increase on production cost. | | | | |Competitors are aggressive | | | The target market of this proposed business is those people students, employees and all kinds of people who are seeking for the security of handling their money and love to buy and try something different in fashion and personal things. eF’eN’eS’ indirect competitor includes aksesoriz, hotflops, gbx, manels, Marcella, pinkbox, and shubiz.. Direct competitors are egg (exciting gifts and goodies) ,simplejoys.. | |Fashion ‘n Style |ZULIT | | |STRENGTHS |The product is new in the market | | | | |It an be customized and even as personalized gift | | | | |A multi-purpose product | | | | |Following new trends and can be worn by all ages | | | |WEAKNESSES |Minimal capital | | | | |Unfamiliar product and not classified as basic needs | | | | |No distribution channel | | | |OPPORTUNITIES |Creating employment | | | | |Demand of safeties handling money/ bills | | | | |More teens and fashion lover are likely to try and experiment new trends of product | | | |THREATS |New entrants to market | | | | |Lots of promotion and ways of introducing to market which may cause an increase on production cost. | | | | |Competitors are aggressive | | |