GREASE MONKEY WIPES
Table of Contents
1. Executive Summary
Market Strategy (STP)
Appendix A – SWOT Summary Tables
Appendix B – Financial Calculations
A company which is hoping to prosper in the foreign market must pay real close attention to the new countries laws and regulation. They also need to pay more attention the market that they are trying to sell the product to. Thus doing more research and positioning and constant improvement is necessary for the company to strive in order to reach the top. They have to focus on their market and segment their market and focus on their most profitable customers in the market. This report goes deep into research and analysis of the marketing and financial position of the “Grease Monkey Wipes” company. It draws conclusions to arguments such as how the company should segment its market, and also, how it should position its brand in the minds of the customers in its targeted segment. It also emphasizes on the company’s current financial position, and what they need to do, in order to be a profitable enterprise. In addition, recommendations have been made relating to the fact that whether the company is ready to enter the Canadian market
Grease Monkey Wipes is only starting up their business and planning to broaden their market and open up the Canadian market. In order for it to be successful in all its ventures and survive in a competitive market, then, it needs to be aware of all the strengths its product possesses over potential competitors in the market, as well as to know weaknesses which may be hazardous to the success of the company. It is also important to know if factors such as political, economic, technological, legal and competitive environment are presenting external opportunities and threats, which may be a route to success or failure for the company. In reference to Appendix A, the following SWOT analysis can be used to illustrate the various strengths, weaknesses, opportunities, and threats facing the company. When it comes to the strengths of Grease Monkey Wipes as a product, its wise to talk about what features, this good has and the advantages it gives to the consumers who use it. First of all, the product is designed to clean up all sorts of heavy messes, ranging from grease from all forms of vehicles, such as cars or motorcycles, to permanent marker ink, paint and even crayons. The product itself contains non-toxic, all natural citrus oils, which were extracted from left over oranges, and herein lies the secret of the product being such an effective cleaning tool, and hence, also making it environmentally friendly, which a lot of consumers, increasingly, look for in a product these days. In addition to all this, the product is sold in small packs, meaning that it is very portable, and can be taken anywhere, and is useful for people, who are always on the go, without taking up much space. Furthermore, another strong point in the product’s favor is that it has a very nice and solid logo, which has a very good color combination. Since the logo is trademarked, it is helpful for the company, as it is likely to make a positive and strong impact on the minds of the consumers whenever they buy the product, and also remember that it was a very effective cleaning tool. Finally, another strong point would be that one of the owners of the company has a degree of higher studies in marketing and has experience in product management and product marketing, so we can infer that he is very passionate about the project, and has a high amount background knowledge on the market for this type of good, and will be able to provide reasonable decision making in the business. Every product has both strengths and weaknesses....