MM 522: Marketing Management.
Professor: Gary Levanti.
1.0 Executive Summary
VJP Trading Corp is starting to consider a new line of business and they have to key products to import, Incense sticks from India. VJP is trying to get the exclusive distribution for the product in USA, and their first start will be in Florida, because it is the home place for business. VJP has an excellent relationship with the distributors and wholesalers in Miami Dade and Broward, in Florida. VJP has the knowledge of the wholesale channel and want to develop with new products for the final customer. The final customer needs quality not too many ashes, burning time to at least 40 minutes per stick, availability at the store and good price to maintain their buying habit. Soft aromas in the other hand Wholesalers and Retailers need availability of the product with good quality with excellent price to be offered to their customers. The Keys to succeed are mainly the price, availability of the product, and to obtained that the final customer recognize the product as a high Quality brand, also the retailer and Wholesalers need to believe in the product. The main thing of the marketing strategy for VJP Trading corp is to focus in two aspects. First the quality of the product “green incense” has a high standard in quality and this is very important for the final customers and the strategy should be concentrated in developed this characteristic of the product. But on the second hand, the price for Retailers and wholesalers is more important than the quality so we should center the efforts in this point giving them support with POS materials, samples and promotion without cost for them, help to the final customers to decide what and where to buy the product. Product or Service Idea: Import and Sell products. Incense products from India Name of the company:VJP Trading Corp.
* 2.0 Situation analysis.
VJP Trading Corp is starting to consider a new line of business and they have to key products to import, Incense sticks from India. VJP is trying to get the exclusive distribution for the product in USA, and their first start will be in Florida, because it is the home place for business.
2.1 Market Summary
VJP has an excellent relationship with the distributors and wholesalers in Miami Dade and Broward, in Florida. VJP has the knowledge of the wholesale channel and want to develop with new products for the final customer. VJP has excellent information about the market and knows a great deal about the common attributes of the most prized customer. This information will help them to understand who is served, what their specific needs are, and how VJP can better communicate with them.
2.1.1. Demographics. It will be three types of customers for VJP Products: 1. The first one will be the final customer who goes to the retail store, gas station, Dollar Store, Tobacco Shop, Cosmetic centers, etc., to buy the incense sticks in different presentations of packs with 6 or 10 or 20 sticks in it for at a minimum price and in average of $1.40 per pack of 10 Sticks. 2. The second type will be the retail store, gas station, Dollar Store, Tobacco Shop and all kind of retail store who will be buy the product in average for $ 0.80 per pack of 10 Sticks the will be selling the product to the final customer. 3. The third type and it will be one of the most important customers to focus all the plan will be the Wholesalers or Distributors. They would be buying from VJP at $0.67 per Pack of 10 sticks, to be sold at the retail level.
2.1.2. Geographic’s and Demographics. The area to start will be the counties of Broward, Miami Dade and Palm Beach in Florida. * Broward County, in 2010 the census indicate that has 1,748,066 of people with a growing of 7.7% from 2000 to 2010. The 76.9% of the population are persons over the 18 years old. With a per capita income in the past 12 months of 2009 of...