Project Proposal for Xblades' New Product Launch

Xblades plans to launch a new product to compete with international brands and target younger audiences. The company aims to increase its market share and profits by creating a good brand image through innovative strategies and tactics. The report outlines the strategic objectives, execution plan, and data sources used to support the project.

Project Proposal

Table of Content
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................1
STRATEGIC OBJECTIVE.............................................................................................................2
STRATEGIC EXECUTION............................................................................................................3
DATA SOURCES...........................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

EXECUTIVE SUMMARY
Xblades is planning to launch new product in the market for which present report is
created. Company's objective is to compete international market to increase its sales. Xblades
will analyse the market to know its targeted audience covering youth and take competitive
advantage of new product. Company will put funds in the branding and marketing which are
raised by investors to implement the plan of project.
INTRODUCTION
Xblades is an Australian sports footwear company, established in 1989 by David Miers,
deals in footwear accessories and apparel category. Company's headquarter is in Melbourne, and
its retail partner is Reble Sports and it customs shoes for athletes as Xblades is specialist in
Aussie sports makes most popular boots for kids. This leading football boot company focus on
native Australian Sports is having Australia, UK and US networks with the athletes of Rugby
and AFL.
The company facing tough competition in the industry of footwear and textile due to lack
of command on the prices of product. Xblade's competitors have advantage of strong and stable
finances. Company's objective is to introduce new product for the target audience to lead the
competition in the market. Report will explain project proposal for the new product launch.
THE PROBLEM
Xblades is facing great challenges due to strong competitors in the market of footwear
industry. These problems creating barriers in the growth of the company. Company will take
competitive advantage by launching new products and to omit these barriers. Major problems
and their solutions are:
 Compete International brands- Xblades is planning to compete international brands
like Adidas and Nike but can't sponsor many players as its competitors are doing (Kim
and et.al., 2020). As Nike can sell more expensive boots, people will rarely pay high
price for Xblade. Currently, company's product don't command same price in the market
as much as other big brands are getting paid for.
To compete with international brand company will introduce its new product in the market as
company planning to launch football boots in the market. Through emerging market company
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will develop which will help company to expand worldwide. This expansion will help company
to enter the new market which will help to increase the sales.
 Intellectual properties- To introduce the innovative product in the market which is
'football boot' to raise market share and profit margin of the company. Intellectual
properties will help company to introduce new product and save them for other
companies which are making copy and selling them in the market.
Xblade's needs to make strategies such as Intellectual properties as these rights will protect the
company against copying its product and services as many other companies were coping the
product of Xblades.
 Effective cost- Company wants to serve high quality product in the market but not
getting equal response from the market. As quality product rise in the expenses due to
high production process cost, Xblade's new product will also make company to bear
these high cost which lower the profit margin in the company for which company will
use method of cost-effective.
Company will take initiative by bringing change in the packaging of the product to balance the
cost (Yang and et.al., 2020). This method will be implemented with sustainable methods.
Evaluating assets in the company will also help Xblade to produce the cost effective product.
Through taking advantage of updated technology company will make production process more
effective and efficient.
STRATEGIC OBJECTIVE
Xblades's main objective is to create brand value of the company to raise its market share
and profits. As company is aiming toward high positioning to create long-term demand in the
customers, which will help the company to grow fast. To fight against the tough competition
company will create good brand image by putting more efforts, which will add value to the
brand in the market.
 Target audience- Xblades will choose kids and younger age group to make their target
audience for their innovation product, as young blood are easy to adopt new ideas and
innovation as they believe in change. As company's focus is on football boot for which
young generation will be targeted by the company. Company will use Ad campaigns to
attract new targeted groups of customers in the location of America and other places of
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UK and US (Nabay and et.al., 2020). People interested in sports with medium to high-
income group will be the target audience for Xblades.
 Market size- Company will expand its business worldwide as recently it only deals with
the US and UK markets where company has well stabilized the sell of its product.
Xblades is planning to expand through Athletic footwear range with running shoes,
sports shoes and hiking shoes for men women and kids. Company will sell its product
worldwide in the both offline and online outlets to capture significant market.
 New investors- To expand, company will increase its revenue as Xblades got new
investors who are helping in raising its funds. These funds are planed to allocated in the
area of branding and marketing to promote its product. New product will football boot,
for which innovation plan will get help from new investors.
 Marketing- With the help of influencer marketing company will create its Branding with
the new product (Voskresenskaya, Shandova and Sofiienko, 2020). Company will create
e-commerce stores, on physical outlets the company will increase sales by attracting
customers with pop-ups shop. Xblades will increase online and offline presence to
expand its market.
 Channels- Company will ensure efficient growth by using efficient channels of
distribution for its supply chain, by selling through intermediaries such as company have
support of the retail partner 'Reble Sports'. These mediators help Xblades to raise its sales
and communicating new product which results in rapid growth as they direct contact to
the customers with traditional retail channels such as e-commerce websites.
STRATEGIC EXECUTION
Company Strategies and tactics for launching new product like football boot Xblades
will re-create new strategies which will help company to fight the competition in the market.
Effective methods can help company to increase sale of the new product.
 Innovative strategies and tactics- Xblades will work on the objective to grab the
success with innovative strategies and tactics to grow its market share and profits such as
company will use sustainable packaging method to attract new customers and investors.
To enhance business company will provide more comfortable boots with amazing
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designs. Packaging solutions that have less environmental impacts and footprints to save
further depletion.
 Ambassador - Most notable advantage of the foot and apparel industries are the brand
ambassadors, who raise company's profit margin by increasing their sales (Majid, Thakur
and Nanda, 2018). Xblades give its customers the trusted source of information with the
celebrity Akshay Kumar's signature. For new product launch Xblades will strengthen
product sales through this promotional method.
 Go-to market approach- Company will focus on reset go-to market approach by outline
all necessary steps to identifying target audience and marketing plan. New product will
be launch by the company with the help of best utilizing outside resources such as human
resources and intellectual resources so that other companies can not copy the key
product. This copyrighted method will help Xblades to save the market-share and
increase its product sales.
 Advertising- For which Xblades will hire marketing excerpts for promoting and
communicating the new product through online and offline markets, with the help of
social media such as Facebook Twitter and Instagram where it can find the targeted
audience. Other than social networks company will improve its website to improve sales
of its new product.
 Updated technologies- by using updated technologies Xblades can bring speed in the
operation process as well as in its management which well help company to grow fast in
limited time. Advance technology will help company to improve perfection in its product
such as shoe knitting technology which will improve the shoe quality.
DATA SOURCES
To support strategic objective and tactics Xblades is providing top-line evaluation
through the data sources. This information involves developing strategies for applied project.
 Market survey- Xblades will use most common way which is the market survey method
through which company will get adequate information on which innovation plan can be
implemented. For the collection of particular database through this method company will
conduct observation research on the focus groups with description survey. Younger age
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people and kids of both the gender are the major criteria for the company to analysed
with their taste and preferences.
 Direct-to-customers– Xblades will collect data through creating D2C(direct-to-
customers) such as store locator, for gaing adequate information as these store directly
interact to the customers (Kim and et.al., 2020). Specialized retailer know customer's
preferences and choices which will help company to collect most appropriate
informations.
 Online tracking- Through e-commerce website the company will gain information,
where company will get most relevant data, as it help to track customer activities. E-
commerce website and app will advantage the company with the advanced technology to
collect the data and easily monitor them.
 Internal research query- To assess with people Xblades will take help of the inernal
research query to gain reviews. These reports will help company to bring necessary
changes internally and improve its strategies. Internal research query method will create
pathway between the company and the customer.
 Reviews and Customer service inquires- Through checking on customer's feedbacks in
very important to monitor closely. This method can be helpful to bring any necessary
operational changes. Xblades will get the advantage to know new trends and insights
derive from customer inquires and it will improve navigation of the company.
 In store Traffic monitoring- With the advance of innovation product company will
enter into new market for which Xblades will use large specialized retailers, chain stores
and distribute its product in sport-goods stores (Yang and et.al., 2020). Currently,
company will focus on native America's population but now focusing to expand its
business worldwide for which company need to plan new channels are effective and
efficient so that company can increase its sales such as store locators.
CONCLUSION
Present report summarized, that Xblades is launching new product to raise its profit
margin and expand the business. Company planned to costume new product to overcome the
problems and Xblades lacks intellectual properties which are creating barriers in the business.
Further, strategic objective by analysed target market and new channels to expand its business
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are concluded as solutions. In addition, problem resolved with the execution plan of using
strategies such as advertising and go-to market approach with data sources. For the successfully
implement the project will conduct surveys and in-store traffic monitoring to ensure the
successful implementation plan.
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REFERENCES
Books and Journals
Kim, S. and et.al., 2020. Can premium private labels compete with luxury brands: the impact of
advertising on perceived luxuriousness. International Journal of Advertising. 39(6).
pp.761-782.
Majid, I., Thakur, M. and Nanda, V., 2018. Innovative and safe packaging technologies for food
and beverages: updated Review. Innovations in technologies for fermented food and
beverage industries. pp.257-287.
Nabay, O. and et.al., 2020. Analysis of the profitability and marketing distribution channels of
sweet potato business in Sierra Leone. Journal of Agricultural Extension and Rural
Development. 12(2). pp.26-35.
Voskresenskaya, E., Shandova, N. and Sofiienko, A., 2020. Innovative approach to the
formation of a system of strategic marketing management of tourism enterprises in
conditions of market uncertainty. TEM Journal. 9(3). p.1076.
Yang, R. and et.al., 2020. Cost-effective priorities for the expansion of global terrestrial
protected areas: Setting post-2020 global and national targets. Science Advances. 6(37).
p.eabc3436.
Online
Strategic Objectives: Definition, Classification of Strategic Objectives. 2021. [Online].
Available through: <https://www.iedunote.com/strategic-objectives>.
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