Consumer Behavior Assignment Help
List an overall timeline of all activities in the launch plan that need to happen.
Financials and Launch budget allocation
What is the budget for your launch plan? Provide a pie chart of how you're allocating the launch budget and give the details in a table.
Core team members
A product launch is exciting. Make sure to add elements of market excitement in your plan for the best results.
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Timeline for required activities for the project:
Financials and budget allocation:
Financial Budget for the product launch plan:
The budget for the launch plan would involve an investment of $1,000,000.
Launching is an extremely important part of launching a new product. This is a special kind of coffee shop. The idea used here is an innovative one. Probably the first of its kind. This is going to be a great scope introducing the brand in the market. Efficient branding will make it sure exactly what image is going to be created in the market. The coffee uses a selfie scanning machine. The customer clicks the selfie and connects that with the machine. The selfie will be shown over the coffee froth. Ink that is used to make the selfie up over the coffee is edible in nature. The variety of flavors that are going to be used in the new coffee shop could be used for branding. The important facts like the use of organic beans should be used during the branding of the products. The special drink in the menu should be used for the purpose of branding the products (De Mooij, 2019).
Marketing performs an important process while launching a product. This would involve providing the customers essential information regarding the various products and services of the coffee shop. Advertising forms an important part in the launch of a product. In this case, the money from the suppliers of organic milk and coffee would be used to advertise the products. Attractive details like the Instagram page could be used to make marketing more successful. Rewards like the Apple-i-pod or the Beats headset would make marketing largely as these would appeal to the customers in a great way. The various offers and incentives provided by the coffee shop could be helpful in the process of marketing the products and services. Being new in the market, the innovative ideas should be used for the process of marketing. Marketing a product involves drawing in the attention of the customers. It involves building in the trust and confidence of the customers (Zhang and Benyoucef, 2016).
This involves analyzing all the risks that are involved in the building up of the business. The different ranges of prices that are involved should be assessed carefully. The setting up of the business requires making a certain amount of investment. It should be carefully analyzed whether the profits would be sufficient to make a required amount of return over the investment made. The financial risks are a big part of the problem as these forms one of the main driving forces of the business. If enough amount of profits are not acquired it would mean the loss of business. In extreme cases, it might lead to a complete shutdown of the business. Another major force that would act as a driver would be the different expertise involved with the business. The business would need special hands that are well trained to ensure the efficient functioning of the different services that are involved with the running of business (Juster, 2015).
The assumptions would vary as per the purpose. The acceptance of the customers of the products and the services acts as a major force behind the driving of business. This forms one of the important assumptions that are made while making all the plans for launching the products and the different services. The new line of products would reach up to the expectation of the customers. Customers would really like the organic bit of the products to be offered in the coffee shop. The idea of using edible ink and milk would draw the attention of the customers to try out something new. The introduction of the organic milk and other products is completely new in the market. The use of organic products shall never compromise with the health issues. It is being assumed that it is likely to attract customers from all age groups to make a visit to the coffee shop. It is also being assumed that the customers would definitely visit the shop again to experience something new in their next visit (Murphy and Dweck, 2016).
The important issues that would be faced while launching the new product and the services involves a number of factors. The most important factor that comes up are the financial issues. The price factor is a major issue. A good amount of investment would be required to set the business up in an efficient manner. The costs of the various flavors of coffee beans, the setting up of the selfie scanner would require some big amount of investments being made. The profit that would come in from such investments is an important consideration to be made. Whether the profits that would come in would be sufficient enough, whether that would be adequate to carry business on, are some of the important aspects of the financial considerations. Customer satisfaction would be an important issue in the planning of the business product and the launching procedures. The market standing, reaching out to the right customers, understanding the needs mad delivering the right kind of services are the important issues (Godeyet al. 2016).
The process of that involves approving of the document is an important part in the making of plans to launch a product. In this case, the document approval part while launching the various products and services of the coffee shop would require sufficient amount of attention and effort to make it a success. This would involve documenting the information that would be associated with setting up of the business of the coffee shop. The various needs and the demands of the customers would be a part of the problem. The documentation would involve important information related to the business procedures and the operations that drive the business. Information related to the business and the organization would be part of the documenting process. Document approval is essential to ensure the efficient running of business, in this case the coffee shop. It is also important from the legal point of view (Zhang and Benyoucef, 2016).
Core Team members
This constitutes an important section of the planning procedure in the launch of the new product and the services. The members of the team who would be involved in the making and running of business, in this case the coffee shop is an important consideration that deserves attention. The team would be the actual force who would be involved in taking the business ahead. The skills of the different members of the team would play an active part in driving the various operations. Members of the business team contribute a lot to the making of the business and its successful running (De Mooij, 2019).
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