Marketing Forecast Report Assignment

Marketing Forecast Report Assignment

Create a Marketing Forecasting Report for your product (Jeans). Your forecast should include charts and graphs showing projected success by regions, countries or demographics. Discuss how you developed the forecast and any other economic factors that could cause a variance.

2 references.

You wrote a paper for me last week about your marketing proposal about having unisex jeans. I will attach the paper.

Jeans Marketing Project

The marketing project will involve production of jeans for both ladies and gents. Unlike the other jeans, the product will be fabricated and designed in a manner that will make it unique when compared to other products of the competitors. The country that will market this product is the United Kingdom. In the UK, the company will communicate the brand, as well as its values to its target customers in the market and this will be facilitated by progressed media channels like Broadcast media, print media, electronic media, display media, and network media. The overall success of the company is determined by the success of the marketing strategy employed. The target market will be youths, as they are the most group who love wearing jeans. With the prolonged use of jeans in the UK from all ages and people from all walks, our business strategy will be essential to camp base and conquer the ready market. With the changes in market demand from customers a detailed market research will be undertaken. The market research will entail five steps.

The first step will be defining the problem. Since the key product we are offering is production of jeans for both men and women, the first question will be to determine the rate of jeans usage in the UK. Another consideration will be the quality and types that the target market prefers to use in the UK. The target market leisure activities will be a key factor to determine the usage. As UK has more population of youths in urban areas, the ideal environment for the target market, the business will blossom. The jeans target market from UK has outgoing individuals who love outdoor events. It is estimated that about sixty percent of the UK citizens go to various outdoor events such as sports. In all the events, most of the people prefer jeans as their main outfit. To enter deep into this target market, different unique types of jeans will be produced with different functionality to enable the target market accept the new brand faster.

The second step will be to conduct a market research. The market plan will enable the project to successfully seal all the loopholes. The research will involve interviewing customers and all stakeholders (Senior, Smyth, Cooke, Shaw, & Peel, 2007). The interview process will help the project get underlying views from all the local residents. The next step will be conducting a survey. Additionally, running user test will provide an insight of how the customers perceive introduction of new items. The third step will be collecting all the data. The qualitative and quantitative data from the survey and interviews will be collated. The data will be analyzed and the summary recorded (Bair, & Gereffi, 2004). Trends from the data will be used to get the feedback from the research. Finally, the research will be presented and all the actions required taken. The research will enable the project manager determine the tidbits of the business in the region. Competitors and all there ways of doing business, the quality of their products and the prices of their products will be a key factor to enable the company progress smoothly.

The market changes were assessed and presented and the following were the results.

The table above shows the market prevalence by different companies in the UK

The chart for the assessment is presented below

The chart above shows the production of Jeans among four different companies.

Each company had different prevalence ratio in the sales and manufacture of the three types of jeans. Company 1 and Company 4 produce more jeans for men. Company 2 produces more jeans for women while company 3 produces more unisex jeans.

Discuss your product development and product life cycles.

Production of the jeans will involve seven major steps. Cotton production has been divided into three categories which are conventional farming system, integrated pest management and organic production. The quality of the cotton depends on the method used during growth. The best cotton for jeans production come from irrigated fields. Jeans production end life focuses more on the recycling techniques. The cotton fibers are eventually converted to polymers by chemical modification. The denim cotton can be recycled to produce cellulosic fibers. After collecting cotton, it is taken in the factory for manufacturing process. Spinning and weaving takes place and solely depends on energy consumption, dust and waste material. Later the cotton is taken for dyeing which involves chemical use by bleaching and reductive agents. Additionally, dyes, waste water and energy are also used. In the garment production, solid waste, dust, labor conditions and combination of acetate and rivets are used. While finishing, bleaching by use of chemicals and enzymatic treatments is applied (Braham, 2017). Moreover, mechanical treatment by sand blasting, stone washing and grinding are applied. At long last, the denim jeans are packed while the solid waste is disposed-off and transport by energy consumption. While handling your denim jeans, you should ensure to take good care and maintenance for the products by using less energy and washing chemicals. End of life involves incineration, landfill, reuse and unraveling into fibers. Cotton products are further classified into class A which contains recycled cotton, nylon, polyester, organic hemp and linen. Class B contains organic cotton, tencel and conversion cotton. Part C is made by Ramee, conventional hemp, linen and pla. Class D has lenzying model, poly-acrylic and virgin polyester. Class E on the other hand contains virgin nylon, conventional cotton, rayon, wool, generic viscose and bamboo viscose. Unclassified category contains organic wool, acetate, alpaca, cashmere, leather and silk. When reprocessing, new equipment are used that contain longer fibers, and better cleaning performance. The materials spearhead production of spinnable quality of fibre and textile production using traditional lines.

Will it be assembled in the country you sell or delivered and stored?  

Production will be done in USA due to the available resources. As is the norm with our industry, the products will be exported to our overseas shops in the UK. The production of the jeans in UK will be initiated after some few years of being in the market. This fact is due to the proximity of the raw materials in America.

Are there transportation logistic issues to address for distribution? 

Since textile goods are sensitive to humidity, the vehicles that will be used have to be equipped appropriately to ensure optimal humidity level. Specific polythene bags have to be available for the transport of the jeans and the cargo specifically labeled. The preferred transport mode is road, followed by sea. Road transport is the best as it maintains quality to the last destination.

How does the product get to the market and to the customer? Discuss how this will be implemented

With the manufacturing industry available in USA, the end product will be exported to UK. Transport system preferred between two continents is sea transport. Sea transport is the fastest and safest. Air and train transport tend to destroy the quality of the products. On reaching UK, the product will be transported in containers and offloaded to our main stores in the country. Every store will get equal measures of the cargo and some special measures too in regards to their selling preference in the locality.

Discuss how you will measure success.–

The success of the project will be determined by the following five aspect; schedule, quality, cost, stakeholder satisfaction and performance in the market. Schedule involves gauging the project in reference to the set duration. A good project is implemented within the given time frame. Quality review will enable the project to be perfect before reaching the target market. Quality products attract loyal customers and this will be a big boost to the firm. Cost is a key factor and the project manager should be keen on the expenses incurred during the implementation to ensure that there is no overspending. Stakeholders have to review the new product and ascertain its use before it breaks to the market. Performance of the business in the market will determine the efficiency and profitability the company will incur during its operations.

References

Bair, J., & Gereffi, G. (2004). Upgrading, uneven development, and jobs in the North American apparel industry. In Labor and the Globalization of Production (pp. 58-87). Palgrave Macmillan, London.

Braham, P. (2017). Fashion: unpacking a cultural production. In Fashion Theory (pp. 351-372). Routledge.

Senior, C., Smyth, H., Cooke, R., Shaw, R. L., & Peel, E. (2007). Mapping the mind for the modern market researcher. Qualitative Market Research: An International Journal, 10(2), 153-167.

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