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Essay sample - marketing plan
Pages 4 (1004 words)
Marketing Plan Australia based Huggalugs offers artistic leg and arm huggers for children. The marketing plan (with reference to the marketing mix) of the company is detailed below. Product The product is at the heart of any marketing mix. Huggalugs offers a wide range of leg warmers and arm warmers for children…
Thereafter towels, bed sheets and blankets could be added in the company’s product repertoire. All these products can be manufactured to fit into Huggalugs’ core proposition of fashion and function. Most of the new product additions rely on the same raw materials that are used in existing products. By increasing the volume of purchase, the company can exercise more bargaining power over the suppliers of raw materials and gain a cost advantage. Likewise synergies can occur in the production processes (knitting process) as well as the channels of distribution. The skill sets of the existing labour will suffice to produce the proposed products. A product wise profitability analysis can be conducted to determine which of the items need to be removed from the present product line. The company can, after launching the proposed products, claim to be catering to the apparel needs of little ones from head to toe. These outfits would be the children’s best friend whether they are in bed or in the playground. Price A penetration pricing strategy (low price) would entail catering to the masses and dealing in volumes. However this strategy does not justify the quality of the product in question. The skimming pricing strategy (high price) on the other hand would mean that only the top rung of the society is the target market. ...
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