Product & PricingEnd Term Project: Brandy
Submitted To:Madam Izza Rahman
Submitted By:Iqra MajidMuizz AmjadHafiz Umar AslamKhalid
MughalThe CompanyProduct Name:BrandyIntroduction:
The title of the business is Brandy. This is the product base
business and which is optical products like Eyeglasses, Sunglasses
& Prescription sunglasses. Name and Location:The Name of the
business is Brandy Optical. The area which we have considered is
the Garden Town, Lahore (Warehouse) & mostly market
online.Nature of the Business:Our business is both product and the
Service base business. In which we deals directly with the customer
on shop and also with the online store through Facebook
page.Objectives:Brandy is determined to offering high quality
replicas in a moderately priced, in order to fill the gap for the
fashion and style conscious people.Mission StatementTo create
uniqueness in our product & become the leader the marketVision
StatementTo create value & make differenceCompany Logo:
7Ps Of MarketingProduct:This is the product base business and
which is optical products like Eyeglasses, Sunglasses &
Prescription sunglasses. Price:The price which is being set from
Rs. 250-Rs.1500. Place:We are going to start our product as an
online business, but we have set-up our business at Hut at New
Campus of The University of Lahore, Lahore.Promotion:For the
promotion we are going to use online promotions at Facebook,
flyers, brochures & print ads.People:The people associated with
our product are the management staff that includes the marketing
and sales staff and directly-linked consumers.Process:The process
through which it undergoes are raw materials, design, manufacturing
process (lenses & frames), quality control, and final
product.Physical Evidence:It is easily identified by its
distinctive packaging and logo on it.
Industry Analysis:Eyewear retailers sell eyeglasses, contact
lenses, sunglasses, safety eyewear and optical accessories. These
stores may also provide fitting and lens processing services. The
industry excludes the manufacture of lenses, online and mail-order
retail of optical goods and sales at optometrist doctors offices.
We at Brandy Optical sell optical products like Eyeglasses,
Sunglasses, & Prescription sunglasses.Industry Products1.
Frames2. Eye examinations3. Prescription lenses and lens
treatments4. Contact lenses SunglassesIndustry Activities1.
Prescription eyeglass retailing2. Contact lens retailing3. Sunglass
retailing4. Optical accessories retailing5. In-house lens
processing
Forecast:There are lot of Schools, Colleges and the Universities
in the market that can be the most preferable in this time, because
most of the students are willing to pay for the new designs and the
new fashion of Eyeglasses, Sunglasses, & Prescription
sunglasses, in the market according to the season and the
trend.Financial Plans:Investment & Financial:Source of funds
invested directly by the partners with a total investment of PKR
20,000. Every partner is giving PKR 5,000.Sources of Funds:The
sources of Funds are, we all partners. We contributing our
investments into BRANDY to make it successful in present or in the
Future.
Marketing Plan:The Brandy services to students as the main
target products in mid-grade replica glasses, including eyeglasses,
sunglasses & prescription sunglasses. The target market is for
everyone at university (Aging 16+)Brandy with advanced optical
equipment, and affordable products, is here to provide customers
with excellent service. Services include: free computer optometry,
glasses free maintenance, free cleaning glasses, eye free
consultation, expert professional optometry, quality services, and
absolute affordable glasses.Facebook
Page:https://www.facebook.com/brandy.pkTarget Market:Our Target
market is specially the students of the universities, Colleges,
Centers, Schools and the Institutes. The target market is for
everyone at university (Aging 16+). Varieties for all ages for boys
and girls. This is because of the fact that these audiences are
always intrigued and fascinated over new fashion and style. The
products that were offering are made keeping in demand of our
targeted audience.Availability:The availability of our products are
easily available online on the Facebook page and you can buy our
products easily. You can modify your products means customization
by your choice. Customer Connection:Our customers connection are
mainly depends on our Facebook Feedback. We are also having email
department which gives the daily promotions to our customers and
the potential customers and the SMS marketing will also help us to
create connections with our growing Customers.Customer
Characteristics:Our Customer characteristics are youth people
specially. The students who are looking for the new innovative
designs and by the passage of time changing the Trends or the
Fashion. Competitors:As we are introducing new marketing strategies
(online & stall at UoL, & consumer services, marketing
etc.) so we dont have any direct competitors but we have indirect
competitors such as: kaymu.pk, daraz.pk, mega.pk, homeshopping.pk,
tcsconnect.com
SWOT Analysis:Strengths1. Different varieties of glasses will
provide.2. Nominal price charge will customer.3. Full finance
control.4. Competitive advantage.Weaknesses1. Not registered
business.2. Lack of skills.3. New in market.4. Lack of experiences
& finance availability.Opportunities1. Online transactions.2.
Youth target market.Threats 1. Imitate product.2. Government
duties.3. Branded glasses.4. Competitor.5. Inflation.
Product Is For The Target Market:The target market that is
defined is the result of the qualitative survey we have done to
ensure the well-being & success of our company. Keeping in mind
the needs of the youngsters, our product would be more than
appropriate for our customers.Marketing Strategies:1. Digital
Marketing: It is more appropriate to target large amount of
customers through social media (mostly through Facebook) so our
strategy is to create more and more awareness through digital
marketing.2. Direct Marketing: We have the traditional mode of
communicating our audience. Direct marketing includes fliers,
teasers and brochures.3. Word-Of-Mouth Marketing: This mode of
marketing is specifically more significant than others as it
creates more impact on the consumers and creates goodwill for the
company.Graphs:1.1 Initial Resources:Initial ResourcesAmount (In
PKR)Profit Ratio
Iqra Majid5,00025%
Muizz Amjad5,00025%
Umar Aslam5,00025%
Khalid Mughal5,00025%
Total20,000100%
1.2 Marketing ExpenditureFormMediaNumberUnit CostTotal Cost
Pamphlets & FlyersPhysical Location40Rs. 6Rs. 240
PostersPhysical Location10Rs. 20Rs. 200
FacebookInternet---
TotalRs. 440
1.3 Start-up ExpenditureStart-Up CostAmount (In PKR)
Purchasing11,000
Transportation1,000
Packaging & Labeling5,000
Marketing Advertisements440
Other Expenses1,500
Total Startup Cost18,940
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