Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Backpack simulation strategy

26/03/2021 Client: saad24vbs Deadline: 2 Day

Husayn Nathoo

Abdullah Muhammad

Team Strategy

Serpents Backpack Co. is a high end backpack company, boasting elegant, and eye-catching product designs and features. We at Serpents strive to deliver the best possible product for our targeted market of luxury-trend followers. With a strong commitment and organizational culture founded on the implication that luxury trends aren’t simply a hobby or side interest, but rather a lifestyle. We deliver a classic and luxurious backpack at a price that’ll make you say “the price is right!”

Segment

In the simulation there are five market segments available to choose from. In no specific order they are: university, luxury-trend followers, outdoor enthusiasts, school children, and urban commuters.

· Segment

· Luxury-trend followers

· Highest % growth rate (7%)

· Niche market

· Really narrow and hammer down what they want and monopolise the segment

· Less risk of competition - many will turn away as they are the smallest segment group

· Can afford an expensive backpack

· Increase margin/unit

· Ensure we rank high in terms of profit

· Ensure we are able to retain significant profit post distributor cut(s)

· Product features

· Segment needs and wants:

· 62% comfort

· 31% capacity

· 31% durability

· 16% waterproof

· 16% eco-friendly

· Teardrop rucksack shape

· Pleasantly tapered, stylish pack

· Appeals to the segment as they care for their appearance and aesthetic

· Ranks highest for comfort at “6”

· Comfort is the main prerequisite for our chosen segment

· Basic straps

· They are inexpensive straps to help boost profit margins

· Provide even support and basic comfort

· Purchasing a more comfortable strap means doubling, even tripling the price of this one

· Instead boost comfort in other areas and keep costs down

· Features designer tag

· Luxury-trend followers will be able to do exactly that - follow a luxury trend

· “Appeal to the fashion forward by licensing a designer tag”

· Luxury material

· Provides extremely high levels of comfort and durability - boosts overall score and aligns our product with the needs of our segment

· Appeals to the luxury-trend followers as the name of the material itself is “luxury”

· “Finest quality high-grained soft leather provides a comfortable feel and long-lasting durability”

· Tan colour

· Upon research during the persona assignment, it was revealed that neutral colours take the cake for luxury-trend followers

· Tan is a neutral and popular color choice for those aiming to boost their aesthetic in a high-class manner

· Overall segment needs and wants fulfilled

· In the demo mode, we went in and tested how our segment would like or dislike our product design by viewing their feedback

· “Exactly the kind of pack I need”

· “Has many of the special features I am looking for”

· “I love the colour of this pack!”

· “It’s the perfect size”

· All feedback received from our target segment

· It was important to keep the price of the product as low as possible, considering the retail price certain distributors might decide to put up (lower than our MSRP)

· Pricing strategy, actual price and margin

· With our current product design, the price of production equated to $44

· The average purchase price listed for the segment states “$70” however, this figure seems awfully low for a luxury-trend follower segment

· By comparing the average purchase prices, it only made sense for the luxury-trend followers to be willing to spend the most amount of money on a product, this is a part of the experience of being a luxury-trend follower after all

· Because the “outdoor enthusiast” segments average purchase price is listed as $90, we priced ourselves so that we were above that figure

· The unit price we arrived at is $110 MSRP

· This allows for a significant margin per unit, specifically, $66 per unit

· This means our profit scale is 150% greater than the production cost, a fair position to be in

· This number also means we can make agreements with many distributors without fear of being unprofitable, or significantly lowering our profit margins

· Upon feedback in demo mode from our target segment, we determined an MSRP of $110 is the perfect price as the segment responded with “the price is right!”

· Distribution decisions

· With the end goal of this simulation being the team who has made the most money, mass distribution would help ensure our product is able to reach its full sales potential

· As a result of our high MSRP, the Discount Retail Chain, as well as the University Store were made unavailable to us as distributors

· However, this was of little concern to us as only 0.36% and 1.1% of our target segment, respectively, falls under those distributors customer reach

· The main distributor we seeked to employ was the Fashion Boutique, as they are a luxury retailer, with 27% of their customer reach being luxury-trend followers: the highest of any distributor

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Instant Assignments
Professor Smith
Financial Hub
Top Quality Assignments
Best Coursework Help
Calculation Master
Writer Writer Name Offer Chat
Instant Assignments

ONLINE

Instant Assignments

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$69 Chat With Writer
Professor Smith

ONLINE

Professor Smith

Give me a chance, i will do this with my best efforts

$25 Chat With Writer
Financial Hub

ONLINE

Financial Hub

I have read your project details. I can do this within your deadline.

$67 Chat With Writer
Top Quality Assignments

ONLINE

Top Quality Assignments

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$53 Chat With Writer
Best Coursework Help

ONLINE

Best Coursework Help

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$165 Chat With Writer
Calculation Master

ONLINE

Calculation Master

Give me a chance, i will do this with my best efforts

$144 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Direct and inverse variation questions - Chapter 1 Quiz - How is oil is formed - The school of ethical relativism holds that - Nursing - Olive garden powerpoint - Wageweb - The literary analysis - 4 discussions due in 24 hours - Wells cathedral christmas services - Nora ephron the boston photographs summary - Wgu c361 task 1 2018 - Select a transaction that effects the accounting equation as follows - Composition and rhetoric - Career break cover letter template - What is an enterpreneur - Kent state housing contract renewal - Unsw canberra student administrative services - Cola wars case analysis - Copper and silver nitrate redox reaction - Homewrok - Social marketing process fan acquisition - CJUS 420 DB FORUM 3 2 replies due 9/14/2020 - Revenge in hag seed - Predict the next number - Business english debate topics - Hanoverian horse society of australia - Mixing ammonium nitrate and sodium hydroxide solutions gives - Six different images of managing change - How to report shapiro wilk test apa style - Ray hadley josh massoud - Dr james scorer sunshine coast paediatrics - Colour of chrome alum - Chemistry matter and change chapter 9 study guide answers - Tack weld symbol drawing - Things not seen theme - Institute of directors ireland - Unit6 assignment topic is potassium - Harvard referencing western sydney - Oude meester ginger liqueur - Legal environment - October 6 university hostel - E commerce case study questions and answers - Why do you want to study at IBS and what are your career goals? - Coca cola market segmentation - Allen bradley 2080 lc50 24qwb manual - One step pregnancy test strips instructions - Planning and forecasting of working capital - Precalculus final project - Aon pert - Tina jones abdominal objective data - Problem 12 9a wileyplus - A love for truth dylan woodward - Skin care from the makers of proactive - Donkey shrek i'm all alone - Vocabulary subtest wisc v - In Week 1 through Week 9 - 3.96kg in lbs and oz - Fire door gaps australia - A small turtle moves at a speed of 186 furlongs - Molecular orbital theory worksheet with answers - Hub and spoke model in supply chain - William b johnson ritz carlton - Hp mfp x585 driver - How to read micrometer - Order # 9556 - Stephen covey seek first to understand - Cengage comprehensive problem 1 - Masoneilan 41000 series instruction manual - Bom chicka wah wah lyrics - Innovative - Engineering notation worksheet with answers - Successful writing at work 11th edition pdf - How to calculate case mix index example - Forensic Accounting - Discussion Post - Music appreciation concert report - Shell organizational structure - Brad naquin for district attorney facebook - Anu research school of accounting - Selling in minnesota by barbara ehrenreich summary - Susan bordo the globalization of eating disorders - An asset used in a four year project falls - Ecce romani 1 exercise 5c answers - 3 phase uk colours - Dr louisa voight coast joint care - HW - GLOB (3_RPLx2) - How to get along with your roommate informative speech - Carport 12m x 6m - Horizontal linkages in organisation chart indicate - When did charlemagne die - Essay - Mercedes r107 bulkhead inspection - Constant voltage diode model - Why do markets exist - CJ 3200 MOD 4 DB 1 - The ten commandments catholic - Examples of irony in the lottery - Linear momentum lab - Argumentative Essay Length: no less than 1,300 words, double-spaced, Times New Roman, 12 pt font size