Marketing Project Essay Example

Marketing Project Essay Name: Lecturer: Course: Date: We will write a custom essay sample on Marketing Project specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing Project specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing Project specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Marketing Project For purposes of this project, I decided to incorporate a new twist to an existing product. Primarily, the existing product is an arm sleeve by various custom sport kit-manufacturing companies. These include Reebok, Nike, and Addidas among others. These companies have dominated the sports arena including football, baseball, and basketball- mainly because of their strong marketing and production brands. In general, the purpose of arm sleeves vary at a great range including, regulatory medical, protective or even ritualistic. My idea will involve adding a new feature to the arm sleeves to suit consumer taste and preference. My idea primarily involves personalizing personal arm sleeves for teens and athletes who have a view of expressing what they feel while they proceed on their daily routine. For this idea, I would allow the customer to have their say on what design they want their arm sleeve to appear. The new twist on the sleeve can be in the form of a drawing, graffiti, and a name of a loved one, a quote, or any other reasonable specification requested by the client. From my research, I was able to establish that arm sleeves have become a part of our daily lives. For example, when sport fanatics go to cheer their favorite teams like football or basketball, they adorn arm sleeves among other kits resembling the team thus denoting their support. Other than the above observation, another example can be taken from skin cancer patients who wear arm sleeves when engaging in out door activities. Dermatologists were able to establish that arm sleeves helped improve the skin conditions of the patients. With their neat and trendy fashion, skin cancer patients comfortably adorn them in public. The whole idea is that with the necessary resources, I can provide the service of personalizing the arm sleeves. In this case, using my art talent, I can be able to write or draw what the sport fanatic or cancer patient feel on their arm sleeves. For example, the patient may require me to inscribe the quote â€Å"fighting cancer† on their sleeves. I would be able to do so in the customer’s preferred color and design. The name I would give my service would be â€Å"Personalized Arm Sleeve†. I decided to keep it simple and direct. I performed sufficient research in my community and other neighboring areas and established that my idea is original since I could not identify any other form of business offering the same kind of service. Therefore, if I manage to execute this business plan, I would say that it would possess high competitive advantage. However, I was able to note designers who offer the same service for non-specific products. These designers are well established in the field and are significant competition for my service. With regard to the market segment, I performed this activity with from three viewpoints. The first viewpoint was to establish who the customers to my service would be. I was able to establish a wide variety of people who provide sufficient market for my service. These include sporting fanatics, skin cancer patients, athletes participating in basketball, football, biking, kayaking, and hiking. The other class of potential customers for my service is the current generation of youth who adorn the sleeves for fashion and trend. The other viewpoint of my market segment was in terms of size. I engaged in a segmentation process aimed at determining the market and size potential of each of the above. I was able to establish that sporting fanatics, teens and cancer patients of all had the highest potential of providing market for my service business. Sporting fanatics, especially I was able to note are very passionate with the teams they support in various sports. They would obviously desire to express their sentiments and support through personalizing their arm sleeves with artistic drawings, art, as well as graffiti. Teens and the youth are whom I established would provide the other portion of the market second to sporting fanatics. Teens especially adorn these sleeves to look trendy and in tune with fashion. They would be attracted to my services since I am capable of adding an extra attractive twist to their sleeves. Other than them, skin cancer patients are also potential customers. These unfortunate people have been restricted to wearing arm sleeved to alleviate the strain on their skin when on outdoor activities. I think they would appreciate my service and use it to communicate how they feel through my art. With regard to the positioning I have selected for my service, it came to my observation that arm sleeves have become part of our attire and everyday life. People will slip them on when they are participating in sports, hiking, biking, kayaking, gardening, among many other situations. I thought to myself that since they are normally produced in plain color, I saw an opportunity to develop them further and make them attractive and personal to their owner. In my view, I think people should use my service because this gives them an opportunity indirectly express how they while they are in their respective routines. Additionally, this service would give the customer to stand out. This is because each art will be distinct and unique according to their specifications.