Due Date: Sunday, 1st November · extremely simplified. 3. Marketing System 1.0 All objectives were...

AMB240 MarketingPlanningandManagement ReflectiveCaseStudy

MikaelaSpencer StudentNumber:n9456171 DueDate:1/11/2015 1

AMB240MarketingPlanningandManagement

QueenslandUniversityofTechnology

ReflectiveCaseStudy

MikaelaSpencer

DueDate:Sunday,1stNovember

Tutor:RoryMulcahy

WordCount:1835



ExecutiveSummaryThisreflectivecasestudysummarisesthetrialsandtribulationsevaluatedinregardstothe

QUTopianbusiness‘FlowersareForever’.Throughoutthisreporttheoutcomes,issuesand

alternativesforthebusinesswillbeinvestigatedandassessedonthepositivesandnegatives

ofthecompaniestrading.FlowersareForeverhadaimedtoobtaina40%marketshareand

aprofitabilityof20%withafinalsalesfigureofQ$490.

Thebusinesshadcustomisedmarketingstrategiesinordertoavoidthreatsandweaknesses

andtotakeadvantageofmarketopportunitiesandstrengths.AsFlowersareForeverwere

the only retailer selling flowers, we had a niche position in themarket that allowed the

businesstoexploittheindustrytothecompany’sadvantagebyofferingbundlingservicesand

apremiumqualityproduct.

Theproductwastargetedatthe‘youngoptimists’segmentof18-24-year-oldfemales.Due

tothefacttheproductwastargetedatthisparticulargroupwhomfocuslessonpricesand

moreontheproduct,askimmingstrategywasusedalongsideacost-pluspricingmethod. A

pullpromotionalstrategyalongsideadirectsocialmediamarketingcampaignwasusedto

penetratethetargetmarketthroughtheiruseoftechnology.

Unfortunately, not all marketing objectives were achieved as the business suffered an

astounding -172.86%profitability and a $1200 deficit. Also only a 10%market sharewas

achievedandtherewasahandoveroftwelveunits.However,itwaspositivetonotethatour

promotional strategy functioned and the business attained an enthusiastic social media

following.

Threekeyproblemswereidentifiedthroughoutthisreportasthestockpurchase,inabilityto

sellproductandpricefluctuation.Thesematterswereexaminedandalternativesolutions

wereconsideredinordertosolvethedifficulties.Thesolutionschosenforeachdrawback,

respectfully, are limiting stock purchase, conducting further market research and

implementingaminimumsellingprice.

Byconsideringtheproposalsinthisreport,itwillenablefutureQUTopian’swithsupportin

runningthenextmarketdaysimulation.



TableofContents

ExecutiveSummary..................................................................................................................2

1.0 SummaryofMarketingOutcomes...............................................................................41.1 Themarketingobjectives......................................................................................................4

Table1.1.1OutcomeofMarketingObjectives..............................................................................41.2 Salesandproductionoutcomes............................................................................................5

Table1.1.2SalesandProductionOutcomes.................................................................................51.3 FinalProfitandLossStatement............................................................................................5

Table1.3FinalP&LStatement.....................................................................................................51.4 MarketShareCalculations....................................................................................................6

2.0KeyIssuesarisingfromtheQUTopiaSimulation................................................................6

3.0ProblemIdentification........................................................................................................83.1ProblemOne:StockPurchase.......................................................................................................83.2ProblemTwo:InabilitytoSellProduct.........................................................................................93.3ProblemThree:PriceFluctuation................................................................................................93.3ProblemThree:PriceFluctuation(continued)...........................................................................103.4SummaryofProblems................................................................................................................10

4.0 StatementandEvaluationofAlternatives.................................................................114.1 SummaryofAlternatives....................................................................................................11

5.0 RecommendationsofAlternative..............................................................................135.1 RecommendationforProblemOne....................................................................................135.2 RecommendationforProblemTwo....................................................................................135.3 RecommendationforProblemThree.................................................................................145.4 SummaryofRecommendations..........................................................................................14

6.0 References..................................................................................................................15

7.0Appendices.......................................................................................................................167.1ConsumptionPatternData........................................................................................................167.2ProjectedBreakEvenStatement...............................................................................................167.3ActualBreakevenStatement.....................................................................................................167.4ProjectedP&LStatement.........................................................................................................177.5ProjectedSalesandProductionReport.....................................................................................177.6OriginalSalesProjection............................................................................................................18



1.0 SummaryofMarketingOutcomes1.1 Themarketingobjectives

Table1.1.1OutcomeofMarketingObjectivesOverthecourseofthesimulation,FlowersareForeverwasonlysuccessfulinmeetingoneof

itsmarketingobjectivesandfailedtoachieveallothers.Thesefailuresareshownbelowon

Table1.1.1.

Objectives Metric Outcome

Achieveaminimumof40%marketsharebytheendofthesecondmarketday

MarketShare Thiswasnotachieved.

10%marketsharewasgainedbytheendofmarketdaytwo.

Achieve20%profitabilitybytheconclusionofmarketday2

Profitability Thiswasnotachieved.

FlowersareForeverhadadeficitof-172.86%.

Marketday1:achieve60%customersatisfaction.

Marketday2:achieve80%customersatisfaction.

CustomerSatisfaction

Thiswasnotachieved.

Asitwasnotmeasured,itwasnotachieved.

Achieve35%customerloyaltyatthecloseofmarketday2

Customerloyalty Thiswasnotachieved.

Asitwasnotmeasured,itwasnotachieved.

Toachieve15likes/followsdepictingbrandawarenessbymarketday1and25bymarketday2.

Brandawareness Thiswasachieved.

BytheendofMarketDayTwotheFlowersareForeverpageachieved80likes.



1.2 SalesandproductionoutcomesTable1.1.2SalesandProductionOutcomesTable 1.1.2 outlines the sales price, units produced, units sold, stock on hand and total

turnoveroverbothmarketdaysforFlowersareForever.

1.3 FinalProfitandLossStatementWhenanalysingthedifferencesbetweentheprojectedprofitandlossstatement(appendix

7.4)andthefinalisedprofitandlossstatementpicturebelow,therearemanyinconsistencies

andchanges.Themostsignificantchangebetweenthetwostatementsisvariationofthenet

profitandorganisationprofitability.Intheprojectedprofitandlossstatement,arevenueof

Q$490andaprofitabilityof20.42%wasexpectedtobemade,unfortunatelythebusiness

suffereda lossof$1210andanabysmalprofitabilityof -172.86%.Thesedifferenceswere

createdbecauseofalackofsalesandaconstantloweringoftheregisteredretailpriceofthe

product.

Table1.3FinalP&LStatement



1.4 MarketShareCalculationsOriginally,FlowersareForeversetthegoalofobtaininga30%marketsharebytheconclusion

ofmarket day two. As shown below, only a 10.09%market sharewas obtained and the

company’sdirectcompetitor,WishingPotCo.,managedtoobtaina36.89%marketshare.

2.0KeyIssuesarisingfromtheQUTopiaSimulationThefollowingtablewasdevelopedinordertoanalyseandreflectuponthesuccessand/or

demiseofthemarketingplaninregardstohowwellthebusinessranoverthetwomarket

days.

1. FinancialAnalysis1.0 AccordingtoFlowersareForever’sprojectedprofitandloss

statementproducedinappendixthree,thebusinesshadanestimatedprofitabilityof20.42%andatotalrevenueprojectionof$490.Unfortunately,thebusinessreceivedadeficitof-172.86%profitabilityandalossof$1210.

2.0 Originalassumptionsmadebyouroriginalforecastsput

salesof80rosesandonhandstockleftat20.Ultimatelywesold60andhadonhandstockleftat12.

3.0 Theoriginalbreakevenputtheunitsat64andthefinal

breakevenputtheunitsat169.However,thereasonforthatisbecausetheforecastedbreakevenputthepriceperunitatastableQ$30buttheactualbreakevenwasdifficulttomeasureasthepricesfluctuatedonthesecondmarketdaysignificantly.Alsotheforecastedbreakevenhadexpectedunitsalesat80andthefinalbreakevenhadunitsales72.

4.0 Duetothefacttherewassomuchstockleftatthelatter

endofmarketdaytwo,stockwasdecidedtobesoldandvaryingpricessothattherewasnotanabundanceleftover,howeverthismeantthatmostofthestockwassoldatbelowcostprices.

1.0 Negative:financiallythebusinessstruggledimmenselyanddidnotmeetprofittargets.Thiswasduetothelimitedsalesofproductthatforcedtheteamtolowerthesalespricetobelowcostonthefinalmarketday.

2.0 Neutral:althoughonly60unitsweresold,therewaslessonhandstockleftmeaningthattherewaslesswastage.

3.0 Negative:althoughtheunitswherelower

onthefinalbreakevenanalysis,astheforecastednumbertosellwashigher,that’swhythenumberwaslower.Ultimatelythebusinessstilllostmoney,regardlessofthebreakevenanalysisasthepriceperunitfluctuatedmassively.

4.0Negative:becausethebusinesshadunanticipatedtheneedofthemarket,toomuchproductwasboughtwhichresultedinitbeingsoldbelowcost,effectingthebusinessesfinancessignificantly.



2. CompanyAnalysis1.0 Tasksweredisseminatedaccordingtotheteammember’s

roleinthecompany.Thisensuredourdeadlinesweremetaseveryonehadtheirallocatedtasks.

2.0 Theteamworkedwelltogetherandsupportedeachother

whenneeded.TherewasaprivateteamFacebookpagecreatedinorderforeverymembertokeepintouchwhichbecameincrediblyusefulwiththecreationofthemarketingplan.

1.0 Positive:allocatingtasksaccordingtomember’spositionsensuredthateverymemberwasawarewhatwasexpectedofthemandensuredthatnomemberhadless/moreworkthananother.

2.0 Positive:overalltheperformanceoftheteamwasoutstanding,thecommunicationwehadflowinghelpedmakethemarketdayprocessextremelysimplified.

3. MarketingSystem1.0 Allobjectiveswereattainable,timely,realisticand

measureable.Unfortunately,theimplementationofthemeasurementofthegoalsdidnotroutinelyoccur

2.0 WithregardstothepromotionofFlowersareForever,our

socialmediachannelswereincrediblypopularwithourFacebookpageamassing80likesandourInstagrampagebeingfollowedby24people.AccordingtotheFacebookpagedata,thepagewasmostseenaroundmarketdayone.

3.0 Inthemarketingmix–flowersareforeverstrategy,itispresentedthatthe“youngoptimist”segmentisafairlyinelasticpricingmarket.Thiswasnotsupportedatmarketdayasthepricingoftheproductchangeddrasticallycomparedfrommarketdayonetomarketdaytwo.

1.0 Neutral:allofthesetgoalsaccordedwiththe“SMART”framework,howevertheexceltablethatwasbeingusedtomeasurethesegoalswasnotconsistentlyusedduringmarketdays.

2.0Positive:thesuccessofthebusinessessocialmediachannelsensuredthatourmarketingmix–promotionalstrategieswerecorrectthroughfocusingonthe18-24-year-oldtargetmarket.3.0Negative:Asthebusinessprojectedthechosenmarketwasaninelasticpricingsegment,thismeansthebusinesswasunderpreparedformarketdaytwomeaningthatwhenpriceswerelowered,therewasnostrategyorplantothepricelowering,itwascompletelywithoutstrategy.

4. CustomerAnalysis1.0 Allfeedbackcollectedbythebusinesswasnegative.

Consumersusedwordslike“tacky,unnecessaryandlousy”

2.0 Theforecastedtargetmarketof18-24-year-oldagebracketwhofellintothe“youngoptimist”segment.Whenpresentedwiththefinalconsumptionpatternresults,itshowedthatourvaluepropositionmadethebusinessanemotionalpurchase,characterizedbytheyoungoptimistsegment.

3.0 Unfortunately,customerdemandwasnotdetermined

correctly,resultinginhavingtoselltheproductsimmenselybelowcost.

1.0 Negative:thefeedbackfromcustomersshowswhythebusinesshadsuchaproblemsellingflowersuntiltheywerebelowcost.

2.0 Positive:thisshowsthatthebusinesscorrectlyidentifiedthetargetmarketandthebusinesspenetratedthemarketcorrectly.

3.0 Negative:thisshowsthatthebusinessoverestimatedthedemandfortheproduct.

5. CompetitorAnalysis1.0 PriortoMarketDayOne,FlowersareForevercorrectly

identifiedthethreecompetitorsasSeeYouinSaigon,theWishingPotCo,andCoffeeCozies.

2.0 ThebusinesscorrectlyidentifieditsmaincompetitorastheWishingPotCo.asoutofthethreecompetitors,theyachievedthehighestmarketshareof36.89%

1.0 Positive:asthebusinessescompetitorswerecorrectlyidentified,thismeansthattheplacementandpromotionalstrategieswerecorrectintermsofbattlingthecompetitors.

2.0 Positive:asthecompetitorswereeasilyidentifiable,itwasclearthatintheoriginalmarketingplan,FlowersareForevercorrectlyidentifieditscompetitors.



3.0ProblemIdentificationAfteridentifyingtheissuesarisingfromthemarketdays,threekeyproblemswerechosenfor

analysationasthesemattershaveeffectedthebusinessmoreoveranyother.Thechosen

complicationsforinvestigationincludeissuesofstockpurchase,theinabilitytosellproduct

andpricefluctuation.

3.1ProblemOne:StockPurchaseDuetothebusinesses initialcollectionofdata, itwasthoughtthattheproductswouldbe

hold an extremely successful market share percentage, however this turned out to be

drasticallyincorrectastheteamdiscoveredstockwasoverpurchasedtothepointwhereit

wasbeingsoldbelowcostonthefinalmarketdaysothattherewasnotanabundanceof

handoverstockleftafterthecompletionofmarketdaytwo.

The business purchased so much stock that even though prices were being lowered to

ridiculousprices,therewasstilltwelverosesleftaftermarketdaytwo.Astheendofmarket

daytwocametoaclose,thecompanybecameimpedinglyawareofthefactthattherewould

beanabundanceofstock left.Atthehalfwaypointofmarketdaytwo,therewasstill25

roseslefttosellandtobreakevenatthecompany’soriginalsellingpriceof$30,aminimum

of64roseshadtobesold.

Duetothefactthebusinesshadsomuchhandoverstock,anexecutivedecisionwasmadeto

selltherosesatwhatevertheconsumerwaswillingtopayfortheminthelast10minutesof

marketdaytwo.Thisleadtorosesbeingsoldwaybelowcostandeventhoughtherewasonly

twelve units of handover stock, due to the fact that roses were being pushed onto the

consumertobuyforaslittleas$40for12roses,thisleadtothebusinessnotbreakingeven.

Thisoverpurchasingofstockwasduethefactthecompanyexpectedahighernumberof

salesofthecourseofthetwomarketday.



3.2ProblemTwo:InabilitytoSellProductFlowers are Forever faced great difficulty with the sale of their only product, the hand

colouredartificial roses.This lackof interest identifiesa low-levelofproduct involvement

from consumers, which is essential in creating passion within the customers (Solomon,

Russell-Bennett and Previte, 2010). As the roses were the sole product created and

mentionedinthemarketingmix,thebusinesscannotexpecttoflourishbyofferingaproduct

totheconsumersthathasnoproductinvolvementfromthetargetedmarket.(Solomonet

al.,2009)

Thelackofsalesandinterestfromconsumersalsopresentstheissuethatthemarketresearch

conductedbytheteamwasofpoorquality.Marketingresearchisdefinedasanessentialaid

inmakingeffectivemarketingdecisionsasdescribedbyZikmund,2011.Althoughtherewas

asuccessfulpublicrelationscampaignconducted,furtherresearchwasnecessaryinorderto

trulygraspthetargetmarketanditsneeds.

3.3ProblemThree:PriceFluctuationOneofthebiggestissuesthatfacedFlowersareForeverwastheinconsistencyofthepricing

structurewhichoccurredonmarketdaytwo.Thereasonwhythebusinesswassignificantly

unsuccessfulwasduetothefactthatflowersweresoldbelowcostinthelatterhalfofmarket

daytwoastoavoidhavinghandoverstock.

Onmarketdayonethebusinesssoldatotalof20ofthe72flowers,thisconcerninglowrate

of sales onmarket day one should have instilled in the team to produce a tiered pricing

schemesothatthebusinesscouldgraduallyloweritspricesoverthecourseofmarketday

two so as to not impact the financial viability of the business. As Flowers are Forever

continuedtomarkettheflowersasaskimmingpricingstrategyproduct,itwassustainable

formarketdayone,butthebusinesscouldnotsupportitselfonmarketdaytwowhenthe

pricesoftheproductswerecontinuallyloweredandloweredwithoutanactualstrategyput

inplacebytheteam.


MikaelaSpencer StudentNumber:n9456171 DueDate:1/11/201510

3.3ProblemThree:PriceFluctuation(continued)Asthepricesoftheproductswere“bartered”betweenthebusinessandtheconsumer,and

thispricingstrategywasnotdiscussedpriortomarketdaytwo,thisisthesolereasonasto

whythebusinesslostmoney.Withregardstothebarteringsystem,therewasnominimum

salepricediscussedbetweenthemembersoftheteam,itwasjustbasedonhowmuchmoney

the consumer was willing to spend. Before the commencement of market day two, the

flowers are forever team should have discussed theminimum sale price if the bartering

systemwastobeused(Magenheim,1988).

3.4SummaryofProblemsThroughouttheQUTopiaSimulation,FlowersareForeverdidnotachievemostobjectivesset

intheoriginalmarketingplan.Theoverallproblemthatlinkedthesethreeissuesistheover

purchasing of stock. If there was not an abundance of stock to sell, the issues of price

fluctuationandinabilitytosellstockwouldhavebeenlessapparentandthebusinesscould

havepotentiallybeenmorefinanciallysuccessful.Thelinkingofthesekeymatterspresents

thefactthatproblemscanstemfromthesmallestofissues.



4.0 StatementandEvaluationofAlternatives4.1 SummaryofAlternatives

AsanalysedaboveinSection3.0,thekeyproblemseffectingFlowersareForeverbeingstock

purchase, inability to sell product and price fluctuation. These matters will now have a

numberofalternativespresentedandthesepropositionswillbeexaminedthroughoutTable

4.1SummaryofAlternatives.

Problem AlternativeSolutions AnalysationofSolutions

StockPurchase 1. LimitStockPurchase(Kotler,etal)

2. Recalculatemarketshareandproductdemands(Babin,2011)

1. Advantages:• Decreasedhandoverstock• Stockcouldhavebeenreordered

whenneeded1. Disadvantages:

• Potentialforlowersalesduetolowerstock

2. Advantages:

• Abetterunderstandingofunitstoorderwillbeknown

2. Disadvantages:• Asthiswasabrandnewbusiness

andalldatacollatedwouldhavebeenbeforetheproductswereonsale,itwouldbedifficulttograspcorrectlythetargetmarketsactualdesirednumberofunitstopurchase.

InabilitytoSellProduct

1. Conductfurthermarketandproductresearch(Zikmund,2011)

2. Reducingthepriceonmarketdayone(Kotler,etal)

1. Advantages:• Adeeperunderstandingofwhatthe

targetmarketwasexpectingcouldbeconducted.

• Afurtherdevelopmentofproductlinescouldbedeveloped

1. Disadvantages:• Couldbeartheissuesofbeing

timely,costlyandstillbeineffective.

2. Advantages:• Thismayenticecustomerstobuy

morestockonthefirstmarketday,alsoreducingtheriskofhandoverstock

2. Disadvantages:• Loweringthepricecouldeffectthe

potentialprofitmarginsofthebusiness

• Willhavetosellmoreproductunitstomakeaprofit.



PriceFluctuation 1. Implementingaminimumsellingprice(Zikmund,2011)

2. Implementingarigidpricingstrategy

1. Advantages:• Financestrategytoensurethe

successofthebusiness• Theteammemberscouldbarter

individuallywitheverycustomertoensureacompromisingdealwasmadebetweenthetwoparties

1. Disadvantages:• Ifaminimumpricewasset,team

membersmaynothavesoldasmuchproductastheywouldhavestuckto.

2. Advantages:• Ifadopted,arigidpricingstructure

wouldmeanthattheroseswouldsellforapricetocovertheircostandearnrevenue,butwouldstayatthatprice,avoidingconfusionwithintheteam.

2.Disadvantages:• Thebusinesscouldlosesalesinthe

finalquarteronmarketdaytwoastheirsalespriceisnotlowering,likewitheveryotherbusiness

• Handoverstockwouldbeadefinite.



5.0 RecommendationsofAlternative5.1 RecommendationforProblemOne

Forproblemone, theoverpurchasingofstockunits, I recommendthe implementationof

alternative one, limiting stock purchase (Kotler, et al). This recommendation will aim to

decreasehandoverstock, reducethenegativeprofitabilityof thebusinessandreducethe

financialstrainonthecompany.

The over purchasing of stock units effected themarketing objectives of achieving a 40%

marketsharebytheendofmarketdaytwoandachievinga20%profitabilitybytheendof

marketdaytwobyhavingtosellstockatawellbelowcostpriceinordertomovestockon

thesecondmarketday.

The limitingofpurchasing stockunits to25unitspermarketdayhelps support the same

marketingobjectivesbyreducingtheriskofhavingtosellstockatbelowcostpricesbecause

oftheriskofhavinganabundanceofhandover,itreducesthecostofcapitalcontributionof

thebusinessasareducednumberofstockwillbeboughtandtheriskofhandoverstockwill

bedecreased.Stockshouldonlybereorderedifneededformarketdaysbutiscappedat25

unitspermarketday.

5.2 RecommendationforProblemTwo

Forproblemtwo,theinabilitytosellproduct,Irecommendtheimplementationofalternative

one,conductingfurthermarketresearch(Zikmund,2011).Thisrecommendationwillhelpthe

businessbetterunderstandingofwhatthetargetmarketisexpecting,anypotentialbrand

linesthatcouldbeexpandedandthepotentialforbroadeningthebrandstargetmarket.

According to Sweeney and Soutar (2001), consumers do not only consider the price and

function of a product, but also their intrinsic value including aesthetic, hedonistic and

symbolicqualities.Thisresearchsuggeststhatifaconsumerhasanattachmenttoaproduct,

beitemotionalorsocial,theyaremorelikelytopurchasethegood.Byconductingfurther

marketresearch,FlowersareForevercouldgraspabetterunderstandingofwhat intrinsic

valueseffectthetargetmarketandinturnwouldresultinahighernumberofsales.



Theinabilitytosellproducteffectedthemarketingobjectivesofachievinga40%marketshare

bytheendofmarketdaytwoandachievinga20%profitabilitybytheendofmarketdaytwo

bynotmeetingtheforecastedsalesandbudgetrequirements.Byconductingfurthermarket

researchthiswouldhelptoachievethesamemarketingobjectivesastherewouldbeaclear

ideaofhowtoproperlypresentandmarkettheproductbyusingthenotionofpowerand

manipulationoverthetargetedmarket.

5.3 RecommendationforProblemThree

Forproblemthree,pricefluctuation, I recommendthe implementationofalternativeone,

implementingaminimumsellingprice.Thisrecommendationwillaimtofinancialstabilise

the business, be able to sell on a time-based pricing structure and give the business the

opportunitytobarterwithitsclients.

Theissueofpricefluctuationeffectedthemarketingobjectivesofachievinga40%market

sharebytheendofmarketdaytwoandachievinga20%profitabilitybytheendofmarket

daytwobynothaveaclearfinancialdirection inthecompany. Ifall teammemberswere

aware of financial goals to hit and a minimum selling price to stick to, these marketing

objectiveswouldhavebeenachieved.Byimplementingaminimumsellingprice,thissupports

themarketingobjectivesbyhavingtheteamawareofthelowestcosttheproductcouldbe

soldfortoindividualcustomersinsteadofjust“whatevertheywerewillingtopay”

5.4 SummaryofRecommendations

To summarise, inorder to combat the threekey issuesof stockpurchase, inability to sell

productandpricefluctuation,facedbyFlowersareForeverduringtheQUTopiaMarketDay

simulationthesolutionsoflimitingstockpurchase,conductingfurthermarketresearchand

implementingaminimumsellingprice,isrecommendedinordertosupportthebusinesses

marketingoutcomessetintheoriginalmarketingplan.



6.0 References

Magenheim, E. and Murrell, P., “How to Haggle and Stay Firm: Barter as Hidden Price

Discrimination”,EconomicInquiry,26(3),July1988.

Russell-Bennett, Rebekah, Josephine Previte andNadia Zainuddin. 2009. “Conceptualising

valuecreationforsocialchangemanagement.”AustralasianMarketingJournal17(4):211-

219.

Solomon, Micheal R., Rebekah Russell-Bennett, and Josephine Previte. 201 Consumer

behaviour:buying,having,being.2nded.FrenchsForest,NSW:Pearson.Solomon,Hughes,

Chitty,Fripp,Marshall,andStuart.2009.Marketing:realpeoplerealchoices.1ed.Frenchs

Forest,NSW:Pearson.

Solomon, Hughes, Chitty, Fripp, Marshall, and Stuart. 2009.Marketing: real people, real

choices.1sted.FrenchsForest,NSW:Pearson.

Sweeney, Jillian C. and Geoffery N. Soutar. 2001. “Consumer perceived value: the

developmentofamultipleitemscale.”JournalofRetailing77(1):205-222.

Zikmund, William G., Steven Ward, Ben Lowe, Hume Winzar, and Barry J. Babin. 2011.

Marketingresearch.2nd.SouthMelbourne,VIC:CengageLearning.



7.0Appendices7.1ConsumptionPatternData

7.2ProjectedBreakEvenStatement

7.3ActualBreakevenStatement



7.4ProjectedP&LStatement

7.5ProjectedSalesandProductionReport



7.6OriginalSalesProjection

MarketPotential 276

TargetMarketSize 100

PurchaseFrequency 2

EstimatedMarketshare 40%

SalesForecast 80items

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