This market plan focuses on a brief and straight forward plan of extending the already existing Zeep to a lawn mower in the market. This paper provides a straight forward plan of marketing that will be used in order to attain the zeep lawn mower brand extention marketing plan.
Brand extention is the process of making use of the benefits derived from an existing brand in the market to bring into the market a new product using the same brand (Taylor 14). After the successful launch and use of zeep in the market, the company wishes to extend it by introducing a lawn mower.
With this brand name, it is expected that the large customer bases of the zeep product will stand higher chances of benefiting from this product.
It is very important to market this new brand zeep lawn mower given that there is stiff competition in the lawn mower market owing to the fact that even Honda have introduced been able to make lawnmowers. The company therefore intends to use the brand name in order to take advantage of the existing customer base in the market.
This product will be available at all our retailing agents’ world wide in order to make it possible for the consumers to access it. Given that our current customers have always been satisfied with our products, we expect them to make use of the zeep lawnmower and even recommend it to others. The benefits from the customers will be a great benefit to both the new product and the existing brand and this can help the business plan for future marketing activities (Sengupta 268).
Our main objectives will be to increase our market gross sales and in the process increase our earned profits. As a result of this, we intend to increase our employee number by bringing on board more expertise to help in the manufacture and marketing of the new product. Another objective will be to grow our customer base by reaching to new consumers who will make use of the lawnmower product.
Goods or services
The creep lawnmower is an automotive machine that makes use of a rotating blade around a vertical or horizontal axis to cut a plot of grass at a length that is even. This machine is very important because several homesteads have lawns that need to trimmed and maintained well using a lawnmower
There are several other companies that manufacture lawn mowers in the market hence the competition is quite stiff. Our main competitor in this new product is Honda that currently commands a large share of the market. However, our brand name (Zeep lawnmower), comprises of a brand that is well known and widely used in the market. This in itself makes our zeep lawnmower product unique and better than the other lawnmowers in the market.
After a period of one year, this product is expected to pay back by realizing great profits. In the short term we expect to see a steady and reasonable increase in customer numbers, gross sells and profits levels. In the long run, the client base is expected to grow tremendously, gross sales doubling and earning great profits compared to the levels that are currently being realized.
II. Implementation plan
This section basically reflects how the plan of developing and introducing the new lawnmower in to the market is going to be carried out step by step. This will reflect how as an organization, we will turn the stated plan into expected results.
In achieving the above, there are a few challenges that are bound to come along the way. One, being a new line of business, we don’t have enough expected expertise to carry on the task.
We will therefore need to hire individuals who are already in the field of manufacturing lawnmowers to help us in this task. Hiring expertise is very expensive given that they have to be enumerated on terms that are above their current terms.
Being a new venture, the company will also be expected to acquire a set of new machinery that will be used that will be used to come up with the zeep lawnmower. This in itself makes it an expensive venture since it requires huge amounts of capital to setup.
In real sense, we need a new set of expertise hem implement and a support human resource group to help the new set up, setting up capital is needed to purchase the manufacturing equipments, financial recourses are also needed to purchase the parts that are needed for assembling in order to come up with the new machine, money is needed for salary and wage payment to the workers, distribution costs of the complete product have to be met among other implementation requirement that may come along the way.
Sequence of activities and events
Initial planning for the lawnmower project
purchase of manufacturing machinery
Installation of manufacturing equipment
Human resources recruitment
Purchase or parts to be assembled
Commencement of manufacturing process
Distribution of complete machine to sell agents