Summary for Sole Clout 1

Cover Page

Executive Summary For Sole-Clout I

Sole Co. is happy to announce that we will be releasing our first line of fashion forward, Bluetooth sunglasses: the Sole-Clout I. We anticipate to target customers between the ages of 20-65. We are also proud to reveal that we have been fortunate enough to partner with the powerhouse sunglass manufacturer, Luxottica: who will create high-quality, chic sunglass frames.

Table of Contents

Executive Summary………………………………………………………………………………..1

Marketing Description and Product Review……………………………………………………….3

Competitive Review and Distribution Review…………………………………………………….4

SWOT Analysis, Objectives and Issues, and Value Proposition…………………………………..5

Positioning, Market Research, and Marketing Organization………………………………….…..6

Product, Price, Distribution, and Marketing Communication Strategies………………………….7

Action Program, Budgets, and Controls ………………………………………………………….8

Marketing Description

Ideally, the Sole-Clout I will be sold in all areas of the world with predominantly good weather that would require sunglasses. More specifically, in the introductory phase, our marketing team will be targeting individuals with a relatively high income in the United States, as they usually have a larger amount of disposable income. Beyond that, we will be targeting people who are between the ages of 30-60, who regularly use their cellphones. Individuals that spend a large portion of their day driving to and from work, or spend a lot of time traveling, will also be targeted. People who regularly work out outside, can also utilize our product for listening to music. We are filling the gap of fashion forward tech gear. We have a seen a great deal of interest in tech products that have multiple functions, such as the Apple watch, and we are following this trend.

Customer Needs

Corresponding Features

Safety in communication while traveling

The Bluetooth headphone connected to the sunglasses allows for hand free communication on cellular devices, so users can focus on traffic and/or the world around them.

Fashionable/Functional Tech Products

With our partnership with Luxottica, we can provide individuals with the newest models of their favorite brands, with the combination of our innovative Bluetooth technology.

Sunglasses

The majority of the US individuals own a pair of sunglasses, but pairing them with our Bluetooth technology will help people save money because there is no need for a double

Product Review

Sole Co. does not sell other products currently. However, as our business grows we hope to move into other areas, but at this moment we are focusing all of our attention on the launch of the Sole Clout I.

Competitive Review

List

Position

Strategies

1. 3com Link

Currently making Bluetooth sunglasses.

Providing customers with a low quality, affordable Bluetooth sunglasses. Strategically being a price leader, not too fashionable however.

2. Apple

Providing innovative cell phones, laptops, and watches that have universal compatibility on all products.

New models that are always better than the last. If they back a product such as Bluetooth sunglasses, they could take up a lot of market share, considering they have great relationship marketing.

3. Samsung

Cell Phones, televisions, digital cameras, wireless devices, etc.

Provide a wide range of reliable tech products. Great relationship marketing as well, and if they like this idea, they could also consume a large portion of market share.

Distribution Review

Sunglasses are predominantly sold at retailers such as Sunglass Hut. Due to the fact that we will be partnering with large name brands, utilizing this channel will be most effective. We could also potentially utilize channels such as Best Buy because of the technological aspect.

S.W.O.T Analysis:

Strengths

Providing fashion forward tech gear

Weaknesses

Receiving investments early on

Opportunities

Summer season

Market our sunglasses more because of the higher demand

2. Emergence of unique technology

Find new ways to get customers interested in the new technology

3. Selling globally in the future

Connect with retail companies worldwide to generate more product awareness

Threats

Technology/Product issues

Form a plan that will ensure customer satisfaction

Increased competition once we reach the market

Generate product loyalty combated with customer service

3. New trends in the market

Influencing different customer tastes and purchasing tendencies

Objectives and Issues:

Earn 20% of the market share after 3 years

Issue: How could we utilize relationship marketing to continuously build on our customer

base?

2. Achieve a gross margin of roughly 70% (considering we are a luxury brand)

Issue: How can we ensure that we are making the most of each revenue stream?

3. Sell to all the different sunglass retail chains in 3 years or less

Issue: How can ensure that retail stores will continue to buy our products?

Value Proposition:

Sole-Clout I serves two needs in one reliable fashion trendy product. It provides protection for your eyes from UV rays, as well as, allows you to listen to your favorite tunes all in one fashionable looking product.

Positioning

Sole Co. hopes to position our brand amongst the top brands. We are partnering with Luxottica, they manufacture and own the top brand names. Piggybacking off the pre-established brand names reputation, while also making a name for ourselves in the tech industry. Pairing of fashionable sunglasses and Bluetooth functionality will influence customers to buy from us: we have the best of both worlds in our product.

Marketing Research

The cost and logistics of attaching our bluetooth device to reputable brands already on the market.

What percentage of sales come from in-store purchasing compared to online purchasing, and what areas we need the majority of our advertising budget to ensure we are reaching our target markets.

How much will we need in inventory at the beginning, and what models of each brand can we actually use for attaching our Bluetooth technology.

Marketing Organization

Sole Co. is committed to providing a seamless transition from manufacturer to retailer to then provide consumers with a product they love. We will organize our product line with various brand names and specific models from said company that then will be altered with our technology. In terms of managing customer, we will utilize SalesForce: helps in mass communication, surveying customers for new preferences, managing the retailers, and overall, organize our business contact list. We can organize specific retailers based off United States boundaries for Southwest, Midwest, etc. We want to increase brand recognition fast, so mass communication and organizing social media accounts will also help.

Product Strategy

The Sole-Clout I product line will provide consumers with one device that solves two problems: providing protection from the sun, as well as, helping users stay connected during busy work days. There is a void in the market for sunglasses that have a dual purpose. Combining a Bluetooth device and a pair of Ray-Ban, Oakley, or Prada sunglasses will set a new precedents in the market. Partnering with Luxottica will allows us to already be seen as a reputable company, because those brands are amongst the most popular world-wide. The product will include a frame provided by one or more of the previously mentioned brands, that will then be altered by adding a retractable Bluetooth earbud that can wrap around the ear of the user. There will also be a power button that can be held for 3 seconds to initiate voice commands, similar to that of Siri or Cortana.

Solar Powered: promotes sustainability, convinces consumers there is an added value

Price Strategy

Sole-Clout I sunglasses will have a range of prices, depending on the model, varying from $200 to $500. The innovative technology and trendy style, will help to differentiate our product from its competitors. This is a fair price, as customers already expect to spend that amount or more for the brands that already know about. Because of this, we will not be price leaders, but differentiators.

Stress that our product combines the brands you love, with technology that can help increase the efficiency of you communication daily. Convincing customers to invest $50 or more on our alteration of the model.

Distribution Strategy

Marketing Communications Strategy

Action Program

Budgets

1.Money Needed

2. Expected Revenues

3. Expected Expenses

Controls

 

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