This is a project that aims to provide guidance to a start-up company in the prototype stage. • The guidance will be in a marketing plan form (see the project requirements below). • The marketing plan will be developed by using the information provided by the founder below, proper research, and analysis. • The segment that this Marketing plan will explore is the offices (business) segment. The start-up company details: • The company started when the founder was moving a white board from an office building and the board fill on his feet thus the idea of a portable board • The company is producing a portable white board that can be used as a board in the office to write on or as a projector screen whereas seen in pictures can be installed on the windows buy sticking it to a Velcro base then expanding it across the window. • The founder just finished the design phase, and he is in talks with manufacturers in China to find cheaper materials which he did and now he is waiting for the samples to arrive to Canada. • The founder managed to manufacture the product it around $10 (product cost) from China with shipping and this project should help the founder with identifying how much buyers are willing to pay for him to set the retail price. • This year the founder is planning to order 1000 units from China and sell it in Canada around September or October to test the demand if its high he will order more next year. • The founder is also planning to offer a pen and an extra sheet with product. • The founder also is planning to offer different colour Velcro. • The founder is plaining to offer the board with different sizes (depends on the purpose). • The founder is also planning to use Shopify website and use a distributor to handle his distribution. • The founder’s estimated his budget for this year around $300,000 (Canadian). • The founder is planning to sell the product to offices (business) with a higher price than other segments. The project requirements: • The paper should be a maximum of 10 pages (Excluding title, table of the content, executive summary, and references. Plus a maximum of 5 pages appendices). You need to follow APA style, 7th edition. • The paper should cover the following: o SEGMENTATION ? Analyse and define the demographic, psychographic, and behavioural segmentation (which are offices) for the product. ? What is the budget of buyers? ? What specifically encourages buyers to buy the product? ? Why is the chosen segment better than others? ? This part requires you to build a Customer Map (as a part of Value Proposition Canvas) to better explain the segment you have selected. o PRODUCT ? What category will this board come under for your segment? Example: kids learning toys are in the learning section of the store, camping tents are in outdoor activities. What is your suggestion on the product name for this segment? Please, explain. ? Size of the board according to segments. Kids will have different sizes, and schools and offices will have different sizes according to requirements. o MARKET OPPORTUNITY ? How big is your segment in Canada? What is the current market trend? ? Who are the main competitors? How can we differ from them? (at least two competitors) ? With the help of the company, do SWOT analysis and make a short conclusion. o CHANNELS ? Vendors for the product. Who will sell our product to the market? Example: Kindergarten for kids can be a marketing platform. ?
Sample Solution
