ASSIGNMENT 2
,Table of Contents
Introduction:..........................................................................................................................................3
Marketing Plan......................................................................................................................................3
Product/Service.....................................................................................................................................3
Overview of the enterprise:...............................................................................................................3
Unique selling point...........................................................................................................................4
Function of the enterprise.................................................................................................................4
Long term goal of the enterprise.......................................................................................................5
Target Audience.................................................................................................................................5
Price.......................................................................................................................................................5
Explain the price strategies/ State which if you will be using that price strategies or not:................5
Cost Plus Pricing:............................................................................................................................5
Introductory Pricing.......................................................................................................................6
Skimming......................................................................................................................................6
Consumer-Led...............................................................................................................................6
Economy........................................................................................................................................6
Premium........................................................................................................................................6
Evaluate your choice while linking to your enterprise and your target audience..............................7
Promotion..............................................................................................................................................7
Explain what the promotion method is/ State whether or not you are going to use it.....................7
Personal Selling:.............................................................................................................................7
SEO.................................................................................................................................................7
Direct Mail.....................................................................................................................................8
Billboards.......................................................................................................................................8
Social Media...................................................................................................................................8
TV...................................................................................................................................................8
Evaluate your choice..........................................................................................................................9
Place......................................................................................................................................................9
Explain what the place means/ State whether or not you are going to use it...................................9
Own Store (Brick)...........................................................................................................................9
Online Store (Click).....................................................................................................................10
Wholesalers.................................................................................................................................10
Mail Order...................................................................................................................................10
Evaluate your choice........................................................................................................................10
Interrelationships................................................................................................................................11
,Market research..................................................................................................................................11
Primary research..............................................................................................................................11
Secondary research.........................................................................................................................12
Market testing.....................................................................................................................................13
Limited or Small-Scale Roll-Out:...................................................................................................13
Beta Versions or Prototypes:.......................................................................................................13
Free Products in Exchange for Feedback:....................................................................................13
Seeking Opinions via Collaborative Platforms:.............................................................................13
Monitoring...........................................................................................................................................14
Volume of Sales and Rate of Growth of Sales:.............................................................................14
Size of Market Share and Growth of Market Share:....................................................................14
Customer Perceptions of Product Quality....................................................................................14
,Introduction:
I will create a marketing plan for my business idea in this evaluation, outlining my goals and
strategy, how I expect to accomplish them, and how they relate to the overall objectives of
the business.
My marketing strategy should be comprehensive carefully planned, and founded on
research that makes sense and complies to accepted practices in market research. It should
provide a logical analysis of the results for my company and how important they are for
marketing strategy.
Marketing Plan
I will create a marketing plan for my business idea in this evaluation, outlining my goals and
strategy, how I expect to accomplish them, and how they relate to the overall objectives of
the business.
My marketing strategy should be comprehensive carefully planned, and founded on
research that makes sense and complies to accepted practices in market research. It should
provide a logical analysis of the results for my company and how important they are for
marketing strategy.
Product/Service
Overview of the enterprise:
My idea is to create a of a printer with digital ink business, focuses in offering
both people and companies high quality printers and digital ink solutions stored in them.
We currently provide a variety of printers that can be used for home office use as well as
large-scale commercial printing operations. We also provide a range of digital ink cartridges
that are made to produce prints with long-lasting durability.
My aim is to launch a new range of environmentally friendly printers and biodegradable ink
cartridges in response to consumer preference. This service fulfils a market gap for eco-
friendly printing solutions while also supporting the growing trend of sustainability and
environmentally conscious commerce, from product design to manufacturing and
distribution.
,Unique selling point
The unique selling point lies within sustainability, this business commits to being sustainable
and environmentally aware by providing eco-friendly digital ink made from renewable
resources and biodegradable materials, while the printers are designed to minimise energy
consumption and waste with recyclable materials.
Function of the enterprise
This business creates, provides, and delivers sustainable, digital ink made with renewable
resources, all types of inks include ink cartridge for printing, for drawing or as in arts of
writing and drawing.
These printers will have digital inks installed in them with superior print
quality, reliability, and ease of use, setti ng them apart from competi tors in
the market.
These eco-friendly digital inks will produce vibrant colours, sharp text, and
long-lasti ng prints, providing excepti onal value to the customers. especially
individuals who prioriti se sustainability
, This business will also off er a subscripti on service to fi ll out inks when they
fi nish, similar to companies like HP or Canon, delivering inks depending on
the subscripti on plan.
Long term goal of the enterprise
my long-term goal is for this business to become a leading provider of eco-friendly printing
solutions worldwide. Aspire to revolutionise the printing industry by setting new standards
for environmental responsibility and innovation while spreading and advocating for
environmental awareness.
Target Audience
Businesses, academic organisations, and individual customers or even manufacturing in
need of printing solutions make up the business's target business. Through connections with
relevant industry figures, online adverts, social media promotions, and targeted marketing
campaigns, the business will reach out to them. By promoting the durability, dependability,
and quality of the products, and appealing to the demands and preferences of the
business's target market.
Price
The business will implement a competitive price plan. Because using sustainable materials
and manufacturing practices entails additional costs, these eco-friendly printers that replace
traditional ink cartridges may be slightly more expensive due to their uniqueness.
However, the subscription plan will be affordable and to provide strong value offers to
support the higher cost. Additionally, in the long term, the business will consider an
affordable option for the products.
Explain the price strategies/ State which if you will be using
that price strategies or not:
Cost Plus Pricing:
This strategy focuses on calculating the total cost of product production while adding a
markup to determine the final and total price. This strategy may not be suitable for my
business as eco-friendly products means they are produced from sustainable materials and
processes involved, leading to higher production costs, which might discourage customers
due to a higher price point.
,Table of Contents
Introduction:..........................................................................................................................................3
Marketing Plan......................................................................................................................................3
Product/Service.....................................................................................................................................3
Overview of the enterprise:...............................................................................................................3
Unique selling point...........................................................................................................................4
Function of the enterprise.................................................................................................................4
Long term goal of the enterprise.......................................................................................................5
Target Audience.................................................................................................................................5
Price.......................................................................................................................................................5
Explain the price strategies/ State which if you will be using that price strategies or not:................5
Cost Plus Pricing:............................................................................................................................5
Introductory Pricing.......................................................................................................................6
Skimming......................................................................................................................................6
Consumer-Led...............................................................................................................................6
Economy........................................................................................................................................6
Premium........................................................................................................................................6
Evaluate your choice while linking to your enterprise and your target audience..............................7
Promotion..............................................................................................................................................7
Explain what the promotion method is/ State whether or not you are going to use it.....................7
Personal Selling:.............................................................................................................................7
SEO.................................................................................................................................................7
Direct Mail.....................................................................................................................................8
Billboards.......................................................................................................................................8
Social Media...................................................................................................................................8
TV...................................................................................................................................................8
Evaluate your choice..........................................................................................................................9
Place......................................................................................................................................................9
Explain what the place means/ State whether or not you are going to use it...................................9
Own Store (Brick)...........................................................................................................................9
Online Store (Click).....................................................................................................................10
Wholesalers.................................................................................................................................10
Mail Order...................................................................................................................................10
Evaluate your choice........................................................................................................................10
Interrelationships................................................................................................................................11
,Market research..................................................................................................................................11
Primary research..............................................................................................................................11
Secondary research.........................................................................................................................12
Market testing.....................................................................................................................................13
Limited or Small-Scale Roll-Out:...................................................................................................13
Beta Versions or Prototypes:.......................................................................................................13
Free Products in Exchange for Feedback:....................................................................................13
Seeking Opinions via Collaborative Platforms:.............................................................................13
Monitoring...........................................................................................................................................14
Volume of Sales and Rate of Growth of Sales:.............................................................................14
Size of Market Share and Growth of Market Share:....................................................................14
Customer Perceptions of Product Quality....................................................................................14
,Introduction:
I will create a marketing plan for my business idea in this evaluation, outlining my goals and
strategy, how I expect to accomplish them, and how they relate to the overall objectives of
the business.
My marketing strategy should be comprehensive carefully planned, and founded on
research that makes sense and complies to accepted practices in market research. It should
provide a logical analysis of the results for my company and how important they are for
marketing strategy.
Marketing Plan
I will create a marketing plan for my business idea in this evaluation, outlining my goals and
strategy, how I expect to accomplish them, and how they relate to the overall objectives of
the business.
My marketing strategy should be comprehensive carefully planned, and founded on
research that makes sense and complies to accepted practices in market research. It should
provide a logical analysis of the results for my company and how important they are for
marketing strategy.
Product/Service
Overview of the enterprise:
My idea is to create a of a printer with digital ink business, focuses in offering
both people and companies high quality printers and digital ink solutions stored in them.
We currently provide a variety of printers that can be used for home office use as well as
large-scale commercial printing operations. We also provide a range of digital ink cartridges
that are made to produce prints with long-lasting durability.
My aim is to launch a new range of environmentally friendly printers and biodegradable ink
cartridges in response to consumer preference. This service fulfils a market gap for eco-
friendly printing solutions while also supporting the growing trend of sustainability and
environmentally conscious commerce, from product design to manufacturing and
distribution.
,Unique selling point
The unique selling point lies within sustainability, this business commits to being sustainable
and environmentally aware by providing eco-friendly digital ink made from renewable
resources and biodegradable materials, while the printers are designed to minimise energy
consumption and waste with recyclable materials.
Function of the enterprise
This business creates, provides, and delivers sustainable, digital ink made with renewable
resources, all types of inks include ink cartridge for printing, for drawing or as in arts of
writing and drawing.
These printers will have digital inks installed in them with superior print
quality, reliability, and ease of use, setti ng them apart from competi tors in
the market.
These eco-friendly digital inks will produce vibrant colours, sharp text, and
long-lasti ng prints, providing excepti onal value to the customers. especially
individuals who prioriti se sustainability
, This business will also off er a subscripti on service to fi ll out inks when they
fi nish, similar to companies like HP or Canon, delivering inks depending on
the subscripti on plan.
Long term goal of the enterprise
my long-term goal is for this business to become a leading provider of eco-friendly printing
solutions worldwide. Aspire to revolutionise the printing industry by setting new standards
for environmental responsibility and innovation while spreading and advocating for
environmental awareness.
Target Audience
Businesses, academic organisations, and individual customers or even manufacturing in
need of printing solutions make up the business's target business. Through connections with
relevant industry figures, online adverts, social media promotions, and targeted marketing
campaigns, the business will reach out to them. By promoting the durability, dependability,
and quality of the products, and appealing to the demands and preferences of the
business's target market.
Price
The business will implement a competitive price plan. Because using sustainable materials
and manufacturing practices entails additional costs, these eco-friendly printers that replace
traditional ink cartridges may be slightly more expensive due to their uniqueness.
However, the subscription plan will be affordable and to provide strong value offers to
support the higher cost. Additionally, in the long term, the business will consider an
affordable option for the products.
Explain the price strategies/ State which if you will be using
that price strategies or not:
Cost Plus Pricing:
This strategy focuses on calculating the total cost of product production while adding a
markup to determine the final and total price. This strategy may not be suitable for my
business as eco-friendly products means they are produced from sustainable materials and
processes involved, leading to higher production costs, which might discourage customers
due to a higher price point.
