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Pc Based Software For Accounting And Invoice Purposes Marketing Essay

发布时间:2017-03-26
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We will be using off the shelf, PC based software for accounting and invoice purposes for the first year. The cost for such software has been included in office supplies, Exhibit D. The software will allow MetroGrip to keep inventory, create client invoices, file taxes for accounting purposes, and create payroll. Year 2 will see the use of an accounting firm to take care of our accounting.

Our web page development will be done by a freelance designer who will work with the MetroGrip owners to design graphics and a layout that will reflect the marketing plan for MetroGrip. Since the web page will not be an e-commerce website, we will have the freelance designer update the website when needed. We will also setup Facebook and Twitter accounts to keep our customers up to date about new versions and general information and facts about our product. Facebook and Twitter will be linked and automatically be update on our web page constantly.

Our Ebay Store will be run by Michael Tchoryk with the assistance from Stephen Francella to keep orders on time and shipped. Ebay stores are well organized and easy to use and setup. This advantage will allow Michael Tchoryk to spend less time filling orders and making listings.

Product Strategy

Pricing Strategy

Upon our official launch, pricing for the MetroGrip will be $8.85 Canadian per unit. This price will be used at all retail locations. We will be using a cost-plus pricing strategy to cover all fixed and variable costs, while allowing MetroGrip to reduce the amount of debt from launch.Our creative pricing strategy willll allow customers to purchase the MetroGrip in Canada for $10.00 Canadian after taxes. The convenient price and the ease of purchase at the register will prove to attract more buyers. The MetroGrip's pricing strategy will be affected by Allen Field the manufacturer who will be responsible for providing the materials and knowledge to create our product. Upon further research we have found a cost effective manufacturer in Farmingdale, New York, United States who is able to provide the knowledge and materials that will create a durable and long lasting public transit strap for customers. It is our goal to provide a quality product for a competitive price to customers. We feel it is very important to create an affordable product to create an impulse purchase by users. Our target market of travel hounds are always on the move and looking to save money where they can, especially with the occasional increase of transit prices every few years (A History of Fares on the TTC).

Our retail pricing will be used during our start-up year for the MetroGrip, testing the market on the Toronto Transit Commission (TTC) subway and bus routes. We will also be introducing a n online price for transit users all around the world. We will be launching our product through an eBay Store. The Buy It Now price will be $9.99 Canadian plus local taxes and shipping and handling. This will allow us to create interested in the world transit market. We will be able to track and analyze purchase information to direct future growth opportunities to other transit systems worldwide.

The MetroGrip will be outsourced to a manufacturing company, Allen Field Innovation Design & Manufacturing in Farmingdale, New York, United States. Allen Field currently has a reputation in manufacturing plastic products such as hangers and hooks (Allen Field - About Us). The decision to go with Allen Field involved their long history in the manufacturing industry, their tools available to create our product and ability to produce in small batches to start off. Manufacturing prices are currently being discussed with Allen Field. Early meetings and negotiations with Allen Field indicate a production rate of $4 Canadian per unit.

Promotion Strategy

To minimize costs to our end users, we will be packaging the MetroGrip in clear recycled plastic sleeves with a recycled cardboard header that will incorporate the MetroGrip name, logo, and product picture demonstration. Our strategy is to allow the MetroGrip to advertise itself through the suspicion factor. The hygienic and safety factors associated with the MetroGrips will be clearly described on our packaging. In the first year, the focus of our advertising campaign will be print ads in the Toronto Metro Newspaper, word of mouth, and an online website.

By advertising in the Metro Newspaper which is Canada's #1 daily newspaper will showcase the MetroGrip to over one million readers each day (Metro - About Us). This heavily distributed newspaper can be constantly found in the hands of any Toronto Transit Commission (TTC) rider because it is always conveniently available at most subway stations or bus stops for free. The ads will run every Monday and Tuesday for the first year. Costs associated with advertising in the Toronto Metro Newspaper are outlined in Exhibit A.

Exhibit A - Toronto Metro Newspaper Advertising

Description

Month 0-4

Month 5-8

Month 9-12

After Year 1

1/9 Page Ad

$26432

$26432

$26432

Design

$500

Total

$26932

$26432

$26432

$79796

Metro Newspaper Advertisement

$826 - Per 1/9 Page Ad

$500 - Graphic artist to design advertisement

An online informative website will be setup to create awareness about the MetroGrip and its benefits. Instructional videos of the MetroGrip will be available for users to see the ease of use and how compact the MetroGrip is. Health and safety research facts will support the use of the MetroGrip. Costs associated with starting up our online website are outlined in Exhibit B.

Exhibit B - Website Start-Up Costs

Description

Year 1

Year 2

Year 3

Website Domain Hosting

$200

$200

$200

Freelance Designer

$5000

$2000

$2000

Total

$5200

$2200

$2200

Freelance Designer - Initial website setup requires more hours to create

Word of mouth will be valuable to MetroGrip to create interest in our product. We will attract many early adopter that will market our product on public transit for everyone to view and see the immediate benefits. Public relations will also be very valuable to MetroGrip to receive free advertising in any of the Greater Toronto newspapers. Our sales associates will provide these newspaper companies with free MetroGrip's to test and examine.

In the second and third year, the focus of our advertising campaign will be through the Toronto Transit Commission (TTC) subway cars, stations and bus shelters. By targeting the users in the place where they will be using the MetroGrip, users will be able to be exposed to the product, purchase the product and use the product all in the same vicinity. Using this outdoor/transit advertising solution will allow MetroGrip to be recognized by large numbers of people each day. Nearly 1.5 million people ride the transit system and 450 million people a year. The cost per thousand is 0.58cents to reach 450 million riders. All advertising displayed on Toronto Transit Commission (TTC) property is handled by CBS Outdoor. Rob Sinasac is the national sales manager at CBS Outdoor who has provided us with rate card for Toronto Transit Commission (TTC) advertising. The costs are outlined in Exhibit C.

Exhibit C - TTC Advertising

Description

Month 13-16

Month 17-20

Month 21-24

After Year 2

Transit Shelters

$26000

$24,500

$24,500

Standard Interior Subway Panels

$65,205

$59,488

$59,488

Total

$91,205

$83,988

$83,988

$259,181

Transit Shelters

$24,500 - 20 panels throughout the downtown core for a 4week period

$1500 - Cost to produce 20 panels

Standard Interior Subway Panels

$29,744 - 1352 Interiors over the TTC subway and buses for a 4week period

$5717 - Cost to Produce 1352 Interiors

The main theme of our advertising campaign will be to inform potential users of the hygienic and safety factors associated with the MetroGrip and to provide proven research facts associated with the uncleanliness of subway and bus poles. We will not negatively target the Toronto Transit Commission (TTC), nor do we want to ruin any relationships with them. We would like to state the true factors to inform transit users.

We anticipate a very rapid product life cycle from introduction into the market to growth and maturity within 2 years. The learning curve to use the MetroGrip is quite immediate, allowing users to instantly use our product.

(Place) Distribution Strategy

Our main channel of distribution for subway users will be retail distributors. For subway users, the subway strap will be available through convenience stores such as "Gateway Newsstands" located in many Toronto Transit Commission (TTC) subway stations. For bus users, the subway strap can be purchased at a local convenience or corner stores that are frequently located near bus stations and routes. We will display the MetroGrip at the point-of-purchase location by the cash register. Ideally we would set up a counter box which will create a prime impulse purchase for many customers who are interested in what the MetroGrip has to offer (Gateway Newsstands - Consumer Connection).

Our objective is to introduce the subway strap to the Toronto Transit Commission (TTC) to test, research and eventually allow the subway strap to be sold in vending machines throughout the subway system. This will provide a quick and convenient alternative to create lower overhead and increase customer awareness of the MetroGrip. The process to introduce the MetroGrip to the TTC may take over a year, so we will be using this method as a potential secondary distribution channel.

We will also be introducing the MetroGrip to the world transit market to spark interest around the world. Distribution will be done through an eBay online store. We have chosen an eBay store over a traditional e-commerce website because we are currently starting out our business with limited funds. We feel the expose to the MetroGrip on eBay around the world will be much greater than an e-commerce website. eBay is currently the largest trading community in the world with access to 200 million eBay shoppers with a $40 billion market (Why Expand Your Business to eBay?). The business tools provided by eBay will allow MetroGrip to track and analyze our eBay store performance and visitations. This information will be very valuable to MetroGrip as the company grows to the international market. The credibility and rating system on eBay will allow customers who have purchased the MetroGrip to comment and leave feedback for other users.

In year 1, our operation will take place in Michael Tchoryk's basement where inventory and sales will all take place.

In year 2 and so forth, our physical presence will be at our leased office and warehouse location in Mississauga. Our facilities are located at 1203 Fewster Drive which include 5100sq feet of office and warehouse space. The facilities include hydro and have a loading dock for truck deliveries. The breakdown of the costs for our facilities can be found in Exhibit D. Our facilities are conveniently located beside Dixie Rd. / 401 for quick access to downtown Toronto. Since we will only be distributing from our facility, we have decided to locate in Mississauga to reduce warehouse costs.

Exhibit D - Facility Costs

Description

Year 1

Year 2

Year 3

House Basement

$0

-

-

1203 Fewster Drive Lease ($5.95sqft)

$0

$30345

$30345

Forklift ($420/month)

$0

$5040

$5040

Office Supplies/Computers

$10,000

$10,000

$10,000

Total

Facility Lease - 1203 Fewster Drive - $5.95/sqft for 5100sqfoot facility for 1 year.

Forklift - Lease with buy-out option, $420/month for first 36months, with buyout option of $6000 at end of lease.

Sales Strategy

MetroGrip is currently made up of four owners. In year 1, MetroGrip will have two full time employees Michael Tchoryk and Stephen Francella. Stephanie Chiu and Farrah Alsabagh will start year 1 as part time employees until demand is increased later in year 1 or year 2. The sales headcount can be seen in Exhibit E. Both Michael Tchoryk and Stephen Francella will introduce and implement the marketing plan as well as handling the day to day operations. Michael Tchoryk will market the product on eBay and with the assistance of Stephen Francella will complete online orders. Customer service and returns will be handled by Stephen Francella on a regular basis. Stephanie Chiu and Farrah Alsabagh will act as sales associates to introduce our products to new vendors for the first year. They will also participate in the accounting and financial record keeping using the off the shelf software.

Exhibit E - Sales Headcount

Description

Year 1

Year 2

Year 3

Full Time Employee

2 (40,000)

4 ($45,000)

8 ($50,000)

Part Time Employee

2 ($20,000)

0

0

Total Headcount

4 ($120,000)

4 ($180,000)

8 ($400,000)

Sales Forecast

The MetroGrip will be launched September 1st, 2011. We have arranged this date because have anticipated the most returning customers to the TTC over the summer as well as the return of over a million students to the subway system. The colder months in Toronto, bring many more users to the TTC. Our sales forecast is representative of accomplishing a 25% cumulative annual growth rate or more per year.

Exhibit F shows the breakdown for retail distribution sales in year 1-3.

Ebay sales will launch at the same time as the retail distribution. This distribution channel will not be the focus of our marketing and operational plans but has been established to create interest around the world. We will evaluate and closely watch the numbers from this channel to determine where to expand the MetroGrip.

Exhibit E shows the breakdown for eBay distribution in years 1-3.

Exhibit F - Sales Forecast For Retail Distribution

MetroGrip Sales and Revenue

Year 1

Year 2

September

2,000

24,000

October

4,000

30,000

November

5,500

35,000

December

8,000

39,000

January

9,500

43,500

February

10,500

46,000

March

11,500

50,000

April

13,000

55,000

May

14,500

60,000

June

17,500

70,000

July

19,000

74,000

August

22,000

85,000

Total Units

137,000

611,500

Price

$8.85

$8.85

Total Revenue

$1,212,450

$5,411,775

Exhibit G - Sales Forecast For eBay Distribution

MetroGrip Sales and Revenue

Year 1

Year 2

September

100

800

October

250

850

November

350

900

December

600

950

January

650

950

February

600

1000

March

700

1050

April

650

900

May

650

900

June

600

1100

July

600

1200

August

700

1100

Total Units

6450

11700

Price

$9.99

$9.99

Total Revenue

$64,435.50

$116,883

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