Marketing Plan Essay

2174 words - 9 pages

Marketing Plan for Bunch O Balloons

August 15, 2014
Marketing 301

Executive Summary
Bunch O Balloons, is Kickstarter generated company in the process of launching their new revolutionary water balloon design to stores and families world-wide. With the technological advantage of being able to fill one hundred balloons in less than one minute indicates our advantage over competitors which epitomizes are notion of bringing water balloon fights to the next level. Bunch O Balloons will target children and teenagers who occupy the generation Z demographic. By utilizing new innovative hose attachments with self-sealing balloons we seek to manifest a loyal customer base with ...view middle of the document...

Marketing Environment
Competitive forces
Figure 1: Competitive chart. The graphic illustrates the time it takes to fill a certain amount of balloons in one minute.
Figure 1: Competitive chart. The graphic illustrates the time it takes to fill a certain amount of balloons in one minute.
The competition in the water balloon market remains relatively stagnant with the only adequate rival being Zorbz water balloons from Hydro Toys LLC. Manifesting nearly two years ago, Hydro Toys now offers it Zorbz water balloons in retail locations such as discount drug marts, Bed Bath & Beyond, online segments, and Toys R Us which totals around 4,600 stores nationwide. As for the upcoming years they are predicting a new phase of attack which will then place their product in Walmart stores in the summer of 2015. Already occupying the majority of the market Zorbz seeks to propel their company even further with access to a larger demographic. Bunch O Balloons, has yet to manifest its projected marketing and distribution channels, however when we establish ourselves, we will be the only company which proposes such a high volume of balloons in such a short period of time thanks to our creative design. With new companies and ideas manifesting to solve the current water balloon conundrum, competition is predicted to increase which will bring more rivals into the market.
Economic forces
There are no predicted economic forces or events which propose any changes to the operations of Bunch O Balloons.
Political forces
There are no predicted political forces or events which propose any changes to the operations of Bunch O Balloons.
Legal & Regulatory forces
There are no predicted legal and regulatory forces or events which propose any changes to the operations of Bunch O Balloons.
Technological forces
Figure 2: Bunch O Balloons in action. The graphic demonstrates how the filling process takes place along with witness the 37 pre-connected balloons filing up

Figure 2: Bunch O Balloons in action. The graphic demonstrates how the filling process takes place along with witness the 37 pre-connected balloons filing up

As society improves, so does our technological resources. Trends of better communication, better allocated leisurely time, and materials for construction all coalesce into a growing incentive which is backed by technology. As for Bunch O Balloons current hose attachment with 37 pre-connected balloons which connects to any hose, a new technological factor could be to improve the amount of connected balloons to increase the amount and possibly increase the size of balloons. As the trend of bringing water balloon fights to the next level increases, competitors and Bunch O Balloons will have to adapt to the market and create new ideas which involve a more technological mindset.
Sociocultural forces
The most important factor to pay close attention to when improvising a product is how does the new idea differentiate itself...

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