Assignment
Country: Tuvalu
Product: Sunscreen
The product will be purchased through Federal package, a private-label skin care manufacturing service. This will eliminate any research and development, formulation, blending/manufacturing, and container filling for the product. We purchase a turn-key product with our logo ready to ship and wholesale to the distributors in Tuvalu or any location we choose to expand to. Partnering with a manufacturing service will slash the initial startup costs and reduce operating overhead. Shipping will need lead time as it will be shipped by Pacific Direct Line via container ship. We will wholesale the product to Perle Systems Asia Pacific distributor. This will allow us to focus on inventory, shipping, and marketing. The distributor will purchase from us and keep a stock on hand to sell to the local shops and retail stores.
The company will employ a local person residing in Tuvalu to oversee local operations, advertising, and resource protection. The individual will also be an asset to help with the local government, retail shops, port authorities, and the local distribution company's management. According to livingcost.org, Tuvalu's average salary before taxes is $515.00 per month. The plan would be for this individual to work from home with a company-provided computer, phone, internet, and miscellaneous office supplies for an annual amount of $15,000 or $1,250 per month. Making the salary more attractive in theory will increase the chance we retain a very reliable and qualified local employee.
Skin Protection foundation for the startup 2023 through the year 2027. By outsourcing most of the processes and wholesaling to a distributor, the company overhead is low, and the potential for loss is reduced if there is a need to exit the market. Additionally, the three partners plan to cover the startup costs as an initial investment in the company. The projected first six months' worth of inventory would be the only ask or amount needed to borrow. The startup costs will also be repaid in the first year as it is still included as a cost.
It is a research document
• Marketing Objectives/Strategies/Tactics
1) Product range - What is our total, core and auxiliary product? What are the product ingredients? What are the product features? How is the product used? What are the benefits of our Product? How much we buy/produce? Where do we buy/produce? How do we package and label our product?
2) Target consumers/market segments - Who we market it to? What is our target customer's profile? What are out market segments?
3) Target markets - Where do we find our customers? Where we market?
4) Market share/market growth - What is the size of the total market? How much we market? When we market?
5) Competitive advantages/competition - Who are our competitors? What are their strengths & weaknesses? What are their Four Ps?
6) Product Price -What is our cost? What is our pricing objective? How much do we charge?
7) Advertising and promotion - How do we package our product? How we advertise the product - TV, radio, Internet Web Site, newspaper? How we promote the product? What is the theme and message in our advertisements?
8) Market entry/outlets - How we enter our market (Export, Wholly Owned, JV)?
9) Distribution - Where do we start or enter the market? How and where we move the product? What is our delivery time? What is our delivery cost?
10) Profitability/volume/image - Why we market? How much profit/loss/volume?