Essay About Lower Class And Unique Product2

Assignment 6
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BUSINESS PLAN FOR MAGIC KITMARKETING STRTAEGYFeasibility-The product is entirely feasible as I think people would surely buy it as it is priced reasonably and it is a unique and entire fresh product.SWOT ANALYSISStrengths1)A unique product2) Available at a reasonable price3) Targeted for lower and middle class( something different)WeaknessesAs it is targeted for lower class may be there is not much of a profit margin.Opportunities As there is no competition for this product we can be a monopoly for it.Can provide new products for the lower class and thereby taking part in social responsibilityTo build a massive customer base.ThreatsThere is a threat that as it is a new product people may not accept it.StrategyWe will have posters and pamphlets  everywhere.No television ads as it will raise the cost.Physical demonstration of the product especially in villages10 brush and 1 inkpot will be given in the kit so that it lasts for a longer period.We will follow an undifferentiated market system as we want to sell the best quality for all.We will be hiring a distribution agency to distribute our products.USB- A unique, attractive and a reasonable product especially designed for the middle and lower class.FINANCIAL PLANAs mentioned in the summary the budget will not exceed 1crore.50 lacs will be brought from personal fund and 30 lacs will be borrowed from the bank at 13%intrest p.a.INITIAL INVESTEMENTInitial investment will be of 60 lacs in which 30 lacs of the borrowed fund will be used. As we don’t own a factory the investment will be low.The price of the product will be Rs 60.Investment Break-up30 lacs for manufacturing the product.10 lacs for salary5lacs for distribution of the product.10 lacs for advertising and packaging.HUMAN RESOURCE PLANWe will be hiring a max of  80 peronnels.20 people for advertising job.20 for the technical committeeWe will hire 10 managers for different aspects.20 people for financial department.And 10 for distribution dept.PAYROLEThe managers will be given a starting salary of Rs 40,000The financial dept employees will be given a salary of 25000Technical committee-20000 and there on.                                                                                                                                                                                                                     BYMOHAMMED ABDEALI                                                                                                      GROUP-59