Assignment 6
Essay by shreyansh jain • February 15, 2019 • Thesis • 748 Words (3 Pages) • 847 Views
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
- As 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 responsibility
- To build a massive customer base.
Threats
- There is a threat that as it is a new product people may not accept it.
Strategy
- We will have posters and pamphlets everywhere.
- No television ads as it will raise the cost.
- Physical demonstration of the product especially in villages
- 10 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 PLAN
- As 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 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
- 30 lacs for manufacturing the product.
- 10 lacs for salary
- 5lacs for distribution of the product.
- 10 lacs for advertising and packaging.
HUMAN RESOURCE PLAN
- We will be hiring a max of 80 peronnels.
- 20 people for advertising job.
- 20 for the technical committee
- We will hire 10 managers for different aspects.
- 20 people for financial department.
- And 10 for distribution dept.
PAYROLE
- The managers will be given a starting salary of Rs 40,000
- The financial dept employees will be given a salary of 25000
- Technical committee-20000 and there on.
BY
MOHAMMED ABDEALI
GROUP-59
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