Steps for planning new product Sales mindset Product inventory Introduction Marketing Setting prices
2.1 Principles of selling Thesellingprocessisbasedonsomespecific principleswherecompanieshavetomake strategies for planning about sales. As per the basicprinciplesofsellingsomerulesare followed for it which are as follows: More listening than talking Relationship building Caring
Planning for new product As per the present scenario, The Body Shop Company is launching a new sunscreen which will be offered for a both men and women. This product will be launched b a proper planning throughsettingtargetmarket,ascertaining marketing strategy etc. as per the budget. This step shows the first step of mindset where the company has made a mindset for coming up with said product. Research for this has also been done.
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Cont.. Product Sunscreen based on herbal ingredients. Rich in Vitamin E and organic contents. Based on milky formula for moisturising skin. Protect skin from UVA and UVB.
Additional features Light weight and have antioxidant property. Bio fermented that can fight from free radicals Moisture locking up to 48 hours.
Target market Common and useful for all. Mostly for people from age group of 16- 50years. Office going people and college students.
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Marketing strategy Physical stores through personal selling Onlineadvertisementsandfromsocial networking sites. Official websites along with other shopping sites. Aserumwillbelaunchedalongwithitfor controlling oily look. Herethemarketingstrategyissetupto effectively promote the product. On this basis, the demo and presentation of the
Pricing Skimming strategy of pricing with high level of price in starting. Competitive rates to gain competitive advantage Pricing is done as per various methods. Fair pricing, premium options etc. are considered.
Budget Will be set with the help of finance department. All top level mangers will also take part for better planning.
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REFERENCES Oliva, R. and Watson, N., 2011. Cross-functional alignment in supply chain planning: A case study of salesandoperationsplanning.Journalof Operations Management,29(5), pp.434-448. Heizer,R.andBarry,R.,2013.Operation Management,SustainabilityandSupplyChain management(Vol. 11). Pearson, UK. Márcioandet.al.,2012.Salesandoperations planningandthefirmperformance.International