marketing

Topics: Marketing, Product management, New product development Pages: 9 (2577 words) Published: October 11, 2013
Lollacup Marketing Plan
Table of Contents

Company/Product Info
Hanna Lim, President and Founder of Lollaland, who created Lollacup after realizing this frustration herself and wanting to create something of her own to solve the problem. She ended up with a valve-free, weighted straw sippy cup that allows infants as young as nine months old to easily and effectively drink from a straw, even if the cup is tilted. Lollacup is easy to use, easy to clean, safe (BPA-free and phthalate-free), made in the USA, everything from the design and manufacturing to its packaging is done in Southern California and it is just plain attractive. When Hanna’s first daughter began talking, she had trouble saying, “water,” so she would often say, “I want lolla”; therefore, “lollacup” and “lollaland” were the obvious choices for a product and company name. Hanna and her husband; Mark Lim went on the Shark Tank Show looking for an investment of $100k in exchange for a 15% ownership of the baby cup business and valuing it at $1.5 million.  The Lim's had invested $100,000.00 to get their version of the sippy cup to this point.  The Lim’s did a deal for $100k and 40% which was more realistic number for the Sharks to consider. Hanna and her husband are currently the only full-time employees and they do have two equity partners, Mark Cuban and Robert Herjavec. Before the Lim's went on the Shark tank Show they had lifetime sales of $40,000.00 from 50 retail stores. Within months they brought the Lollacup back for a featured update and reported that sales have already climbed to over $300k and it's now available in over 300 stores. To keep up with demand the Lim's needed to move the production and fulfillment out of their cramped house which was capable of producing only 800 Lolla Cups a day. They now had the capital and the orders to hire a facility to do the assembly which can make 3000 to 5000 Lollacups in a single day. They report that both Mark Cuban and Robert Herjevic have been very hands-on in making sure this business becomes a huge Success. The Lollacups retail for $18.00, wholesale for $9.00 and costs $4.50 to make. Lollacup is available for purchase on the lollaland website and in over 300 retail stores across the US. On the website, there is “in stores” page where retailers are listed. When customers make a purchase from lollacup.com, they provide their name, email address, credit card information, address, phone number, and a password. The company reserves the right to contact them directly for order fulfillment requirements and information about products and services. Lollacup’s privacy policy applies to all customers and any other parties with respect to information that is gathered throughout this website

Mission Statement
It is a statement of the firm’s business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions. Lollaland’s mission statement is: To rid the world of tired and mundane products by developing clever, innovative solutions that excite and delight families -- making parenting safer, easier and more fun.  Environmental Scan

It is the collection and interpretation of information about forces, events and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan. Social factors

They include the attitudes, values and lifestyles. Social factors influence the products people buy; the prices paid for products, the effectiveness of specific promotions and how, where and when people expect to purchase products. People also create a certain image of every product available in the market through its brand image. A product might be really good but if the consumer feels it is useless, he would never buy it. Demographic factors

The uncontrollable variable in the external environment which is...

Cited: (2008). Conducting an environmental scan and SWOT analysis.
Retrieved from: http://doa.alaska.gov/dop/fileadmin/StatewidePlanning/pdf/WorkforcePlanning EnvironmentalScanandSWOTAnalysis.pdf
(2013) http://lollaland.com/
(2013)
(2013). Lollacup on Shark Tank Show.
Retrieved from: http://sharktanksuccess.blogspot.com/2013/02/lollacup-update.html
(2013). Privacy policy. Lollaland.
Retrieved from: http://shop.lollaland.com/pages/privacy-policy
(2013)
Retrieved from: http://www.consumersearch.com/sippy-cups
(2013)
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