Marketing Plan Essay

Submitted By Chelsea-Cota
Words: 5733
Pages: 23

Marketing Plan Project-Edsils
MGMT 3301
Professor Yang
December 2, 2014

Chelsea Cota
Ava Bordonaro
Jen Hamedany

Tables of Contents

1. Executive Summary…………………………………………………………. 2
2. Situation Analysis/Strategic Research
a. Environmental Analysis………………………………………………. 3
b. SWOT Analysis………………………………………………………. 9
3. Target Market Definition
a. Bases and Variables for Market Segmentation………………………. 11
b. Market Coverage Strategy ……………………………………………11
c. Market Profile………………………………………………………... 11
4. Differentiation and Positioning……………………………………………… 12
5. Integrated Marketing Mix
a. Product ……………………………………………………………….12
b. Pricing………………………………………………………………. 13
c. Distribution ………………………………………………………….14
d. Promotion…………………………………………………………… 15
6. Evaluation Strategy…………………………………………………………. 17
7. Bibliography …………………………………………………………………19
8. Appendices……………………………………………………………………20

Executive Summary For our product idea, we decided to focus on something that would not only improve our lives, but also not harm the environment by producing it. This is how we came up with the idea of edible cutlery. Being that our product is made of a 100% deliciously edible base, our consumers will be able to feast on something a little extra at the end of their meal. Our consumers will also not have to feel the guilt and shame of adding to our world’s trash epidemic. Our product will satisfy both an environmental activist and foodie, alike. With our three product lines, breakfast, lunch, and dinner, there is a utensil set for everyone’s taste. Who would not want to eat their spoon after they finish their cereal? This product is truly one of a kind. Our product’s individuality will set it apart in the eating utensils industry. Each set of cutlery will contain one spoon, and one fork, and each box will contain six sets.
We also wanted to create edible utensils because it is a unique and fun product that makes the ordinary daily task of eating more enjoyable. We feel that it is important for our product to not have a negative impact on our environment. Edsils are biodegradable, so even if you choose to not eat the silverware it will not harm the environment at all if you decide to throw it out. You will actually be feeding our ecosystem and not filling our dumps with harmful plastics like our competitors would make you do. Our brand is not just a physical symbol or design, it is also something that holds meaning and builds connections with consumers. It allows our product to have differentiation from our competitors. Our product’s packaging is another reason for our differentiation. Not only is the actual product biodegradable, so is the packaging. We package our edible utensils in small boxes with just enough cushioning to keep the products from breaking. They are also sealed extra carefully to assure 100% freshness. Since not many people know about our product, or have even heard of it, we will effectively communicate our idea to consumers by informing them of this tasty product. This way, we will easily catch the consumer’s eye and see them become addicted to Edsils.
Environmental Analysis
Industry
Our company’s new and innovative product venture, “Edsils”, is creating it’s own branch in the cutlery industry. Unlike regular plastic or metal cutlery, Edsils made its mission to provide its users with a unique eating experience unlike any other. Compared to plastic or silver utensils, Edsils are made of a 100% edible and biodegradable food base. Since Edsils is entering into a relatively new segment of the cutlery industry, there are not vast amounts of information out there about potential growth or financial information about an edible utensil. Being that we are currently in the introduction stage of the product life cycle, we are working endlessly on creating and developing the perfect edible utensil for our customers.
According to IBIS World, there is no company with a dominant market share in the cutlery industry, which is an…