final project marketing management A+ Writers | apluswriters.net
Instructions are in the screen shot.
For the financial information you should approach it in the following way:
You need to calculate the total cost for each unit of the product that you will be selling. The total cost can include the cost of the product, an estimate of the cost of the labeling if the price you get from the manufacturer does not include the cost, the cost of getting the product shipped to you, plus the cost of any internal labor (packaging, shipping, etc.). If you will be spending money for marketing, that should be figured in as well.
After to calculate your costs, you need to decide how much you want to make on each unit. It can be your cost plus, such as 10%, 50%, 300%, whatever you want.
To make a projection of the amount you will receive, you should consider doing the following: If you are selling the products to consumers, consider how many people your will be reaching, and then estimate a percentage of those people.
For example, if you am sending advertising to 1,000,000 people, I can estimate that 25% of those people will consider buying the product (250,000 people). Of those 250,000 people, I can estimate that 10% of those people will buy (25,000 people). If I am selling a product for $10, that means that I will generate $250,000. All of these number are just projections. You cannot be certain. However, I does provide information as to how you come up with your projections.
All of the numbers are just numbers. If I think that the percentages are right, but I want to sell to more than 25,000 people, I can sent advertisements to 2 million, 5 million, 10 million, etc.
** For the project, do not worry about the cost of producing the products. All you need to do is to develop the marketing strategies with the budget that you have. All of the other activities will be spent out of a totally different budget.
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