Description
For this paper, you are creating your own t-shirt company where your t-shirts will be sold online and in retail locations. You will choose one of the following options below. Whichever option you choose, you will continue to use this option for each weekly course project assignment. The weekly projects will build towards your final marketing plan for your t-shirt company.
You will only be choosing ONE of these options. Choose one option for your t-shirt company:
Option 1: Low cost t-shirt company
- T-shirt selling price $5.00 each
- High sales volume of t-shirts (i.e. a high # of t-shirts are sold each year)
- Lower profit margins (i.e. the profit from each t-shirt sold is minimal)
Option 2: Medium cost t-shirt company
- T-shirt selling price $30.00 each
- Medium sales volume of t-shirts (i.e. a medium # of t-shirts are sold each year)
- Medium profit margins (i.e. the profit from each t-shirt is medium)
Option 3: High cost t-shirt company
- T-shirt selling price $150.00 each
- Low sales volume of t-shirts (i.e. a low # of t-shirts are sold each year)
- High profit margins (i.e. the profit from each t-shirt sold is high
Module 01 Assignment Directions
Submit a 2-3-page paper in which you start to build the marketing plan for your t-shirt company in the apparel industry. This paper will consist of three sections: your t-shirt company introduction, the marketing mix, and SWOT analysis chart. Your paper needs to be in APA format, include a title page, and a reference list.
Section 1: T-shirt Company Introduction (1-2 paragraphs)
- Identify which option you have chosen
- Create a company/brand name
- Describe the company and the product
- Explain how you will differentiate your brand
Section 2: The 4 Ps (2-4 paragraphs)
- Identify marketing strategies you will use and provide your rationale. Remember the strategy of the long-term plan which include the goals of achieving a competitive edge in the market.
- Outline the 4 P’s (product, price, place, promotion) and explain how you would use each one to inform your marketing strategy.
Section 3: SWOT (include SWOT chart image) and SWOT Summary (2-3 paragraphs)
- Build a SWOT chart for your t-shirt company that includes the Strengths, Weaknesses, Opportunities, and Threats that company should consider.
- Describe how your t-shirt company will use the SWOT information to develop the marketing strategies and activities. Explain your rationale with examples.
Explanation & Answer
Attached. Please let me know if you have any questions or need revisions.
Running head: Perfect Prints
1
Module 1: Perfect Prints
Name
Institutional Affiliation
Date
(Total Words: 915)
Perfect Prints
2
Module 1: Perfect Prints
Introduction
The T-shirt industry is, without any doubt, a market filled with variety in terms of both
prices and materials used. The company's proposed name is "Perfect Prints" to underline the
goal of creating quality shirts that meet the customers' requests. The business will focus
mostly on youth customers as it will deliver the latest fashion prints for all tastes. An analysis
of the price options was conducted, and it was concluded that option 1, which refers to
creating low-cost t-shirt, will be the major focus. This is due to the fact that since youngsters
represent the audience, it is essential to ensure that the price of the products will be affordable
to this group of people. In addition, the management desires to be able to fulfill the desire of
these customers, which means that a high volume of diversified t-shirts will need to be
provided. The significant difference between "Perfect Prints" and other companies is
represented by the fact that it will focus on the latest trends and incorporate elements
representing the world's current subject of interest. For example, political pictures depicting
the current issue in the United States as well as different movements motivational quotes
(such as LGBT rights or the Black Lives Matter ...