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.