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Assignment 6

Essay by   •  February 15, 2019  •  Thesis  •  748 Words (3 Pages)  •  26 Views

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BUSINESS PLAN FOR MAGIC KIT

MARKETING STRTAEGY

Feasibility-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 ANALYSIS

Strengths

1)A unique product

2) Available at a reasonable price

3) Targeted for lower and middle class( something different)

Weaknesses

  1. As it is targeted for lower class may be there is not much of a profit margin.

Opportunities

  1. As there is no competition for this product we can be a monopoly for it.
  2. Can provide new products for the lower class and thereby taking part in social responsibility
  3. To build a massive customer base.

Threats

  1. There is a threat that as it is a new product people may not accept it.

Strategy

  1. We will have posters and pamphlets  everywhere.
  2. No television ads as it will raise the cost.
  3. Physical demonstration of the product especially in villages
  4. 10 brush and 1 inkpot will be given in the kit so that it lasts for a longer period.
  5. We will follow an undifferentiated market system as we want to sell the best quality for all.
  6. 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 PLAN

  1. As mentioned in the summary the budget will not exceed 1crore.
  2. 50 lacs will be brought from personal fund and 30 lacs will be borrowed from the bank at 13%intrest p.a.

INITIAL INVESTEMENT

Initial 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-up

  1. 30 lacs for manufacturing the product.
  2. 10 lacs for salary
  3. 5lacs for distribution of the product.
  4. 10 lacs for advertising and packaging.

HUMAN RESOURCE PLAN

  1. We will be hiring a max of  80 peronnels.
  2. 20 people for advertising job.
  3. 20 for the technical committee
  4. We will hire 10 managers for different aspects.
  5. 20 people for financial department.
  6. And 10 for distribution dept.

PAYROLE

  1. The managers will be given a starting salary of Rs 40,000
  2. The financial dept employees will be given a salary of 25000
  3. Technical committee-20000 and there on.

                                                                                                         

                                                                                                           BY

MOHAMMED ABDEALI

                                                                                                      GROUP-59

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