The Final Project will be a fun and practical activity where you can apply what

Question

The Final Project will be a fun and practical activity where you can apply what you are learning in the course to a select product and a target foreign market. Your task for the Final Project will be to plan a realistic new market launch (from introduction through stabilization of operations). "Launch" applies to your target market, where you want to sell your product. You are to select a product (not a service) - real or imagined that will be launched in a country other than the United States. Your product should NOT already be sold/distributed in your target market by your company ( the company can be real or made up for this assignment) and your company should NOT already be operating in your target market (i.e., do not select McDonald’s in France). Your product may be produced in the US, in your target market, or elsewhere. In this activity, you will be able to identify a topic of interest for your research project, which will be developed in different components throughout the course.

Explanation / Answer

The product chosen for the purpose of this assignment will be a laser-mosquito exterminator. The name of the company is MosquitoZapper. The target countries would be all the countries in Africa as the number of cases of mosquito related diseases in the continent are high. The product will be very beneficial to the people of the continent.

Business plan (Launch to operational stabilization):

The product will be launched at an International Health Convention in Johannesburg, South Africa. The event will have a former UN Ambassador for health(WHO) and few sports, health(renouned doctors) and television personalities as guests. This will highlight the importance of the product from a health perspective.

The target audience will consist of people of all backgrounds including business persons, healthcare professionals, students etc. The idea to have a varied audience is to ensure that the product reaches all categories of a society and this means that the word spreads faster among different groups.

Free samples of the product will be given to select institutions and people that provide important services to the people such as clinics in remote areas, farmers, etc. The product will be launched at 30% discounted price for the first 1000 buyers (Marketing and sales). The product will also be advertised in various news and entertainment television channels. There will also be a large scale advertisement and mosquito awareness campaign launched by the company on social media websites.

A website for the product will be launched for e-commerce operations. The website will have differential pricing and freebies such as coupons for various products and services. This will be done by tying up with businesses. E-mailing and text messaging of product details and offers will be done on a large scale level. Once the sales grow at an increasing pace and there is a steady stream of customers, there will be plans to expand the markets to other countries. This will be done by interaction with the governments of other African nations where the features of the product and the role it plays in keeping mosquito related diseases at bay will be highlighted. Tie-ups will be made with government run clinics and other institutions that are in dire need of this product. The product will be sold at minimal price to these institutions as it acts as a business and also a free advertisement.

Since this is a one of a kind product or a pioneering invention, it will be the price maker once the demand for the product is high. The company will establish business tie ups with other interested investors who wish to sell this product. This means an increase in production and revenue as the network of the business expands through tie-ups with smaller businesses and direct sales. The operations will be considered stable when the projected revenue upto a certain future date is good enough to cover the costs and result in profits.

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