Marketing Homework
In this class we will be discussing the basic foundations of marketing. Your weekly class project is to apply each of our weekly marketing components to be used for your fictional t-shirt company, as discussed in the Course Project Introduction section.
For this paper, you are creating your own t-shirt company where your t-shirts will be sold online and in retail locations. You will choose one of the following options below. Whichever option you choose, you will continue to use this option for each weekly course project homework. The weekly projects will build towards your final marketing plan for your t-shirt company.
You will only be choosing ONE of these options. Choose one option for your t-shirt company:
Option A: Low cost t-shirt company
a. T-shirt selling price $5.00 each
b. High sales volume of t-shirts (i.e. a high # of t-shirts are sold each year)
c. Lower profit margins (i.e. the profit from each t-shirt sold is minimal)
Option B: Medium cost t-shirt company
a. T-shirt selling price $30.00 each
b. Medium sales volume of t-shirts (i.e. a medium # of t-shirts are sold each year)
c. Medium profit margins (i.e. the profit from each t-shirt is medium)
Option C: High cost t-shirt company
a. T-shirt selling price $150.00 each
b. Low sales volume of t-shirts (i.e. a low # of t-shirts are sold each year)
c. High profit margins (i.e. the profit from each t-shirt sold is high
Module Homework Directions
Submit a 2-3-page paper in which you start to build the marketing plan for your t-shirt company in the apparel industry. This paper will consist of three sections: your t-shirt company introduction, the marketing mix, and SWOT analysis chart. Your paper needs to be in APA format, include a title page, and a reference list.
Section I: T-shirt Company Introduction (1-2 paragraphs)
a. Identify which option you have chosen
b. Create a company/brand name
c. Describe the company and the product
d. Explain how you will differentiate your brand
Section II: The 4 Ps (2-4 paragraphs)
a. Identify marketing strategies you will use and provide your rationale. Remember the strategy of the long-term plan which include the goals of achieving a competitive edge in the market.
b. Outline the 4 P's (product, price, place, promotion) and explain how you would use each one to inform your marketing strategy.
Section III: SWOT (include SWOT chart image) and SWOT Summary (2-3 paragraphs)
a. Build a SWOT chart for your t-shirt company that includes the Strengths, Weaknesses, Opportunities, and Threats that company should consider.
b. Describe how your t-shirt company will use the SWOT information to develop the marketing strategies and activities. Explain your rationale with examples.
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.