Paper 4: Promotional Marketing? For this fourth assignment, continue to build off your last three papers. Please provide at least a 500-word?Marketing Plan f
Paper 4: Promotional Marketing
For this fourth assignment, continue to build off your last three papers. Please provide at least a 500-word Marketing Plan for your promotional strategy.
Based on your first three papers, determine how you will reach your customers as a business so they buy your product. As it is a requirement that you create a commercial for your product, you must include a script and a description of the production of the commercial. Include scenery, actor description, product placement, and context of why you made these selections.
Since the promotional strategy may include some pricing tactics, placement tactics, and even product differentiation (customization), you should ensure that you are building off the other three papers to align with the papers for your product.
Other promotional tactics should be clearly outlined, such as sales pitches, fliers, billboards, or any other infomercial selling the product. Remember to explain why you are marketing the product this way, who you expect to see the advertisement, and why the customer would be convinced to buy your product. The product's practicality and the marketing campaign's practicality will weigh heavily on the scoring of your project, meaning that if the product is so difficult to produce, it might be considered a not viable investment.
Finally, create an ROI analysis (Return on Investment Analysis) of your promotional plan, showing how many sales will be generated from the commercial and the marketing tactics. For example, a company called GoDaddy spent its entire marketing budget on one 30-second commercial at the Superbowl but returned $100 million in sales during the next two years. Will your plan pay off like their plan did?
SmartGrip: Adaptive Ergonomic Kitchen Utensils
Sofia Guallpa
Marketing
Professor Perez
March 18, 2025
SmartGrip: Adaptive Ergonomic Kitchen Utensils
Product Overview
SmartGrip is a modernized ergonomic kitchen utensil made for persons suffering from conditions such as grip fatigue, arthritis, or lack of hand mobility (Mobility Shop Direct, 2023). SmartGrip is different from traditional adaptive utensils as it comprises a pressure-sensitive handle. These handles dynamically modify the users' grip strength in real-time, which is critical to boosting comfort and decreasing stress. The innovation is essential as individuals can prepare food in an accessible way, particularly for the aged and those with disabilities.
Product Plan
The utensil will be made from smart sensor technology and food-safe silicone. Production will happen in a specialized manufacturing facility working in joint with suppliers of adaptive technology. A quality team will be responsible for supervising and automating the assembly process. The final products will be channeled via specialty kitchen stores, online retailers, and healthcare suppliers.
Product Design
SmartGrip will be available in several options and sizes, such as forks, knives, and spoons in the market. Besides, these kitchen utensils will consist of ergonomic and non-slip silicone grips. In addition, the utensil will feature built-in smart sensors that automatically regulate handle flexibility depending on the grip strength of the user. They will also include extra add-ons like detachable wrist straps to add additional support and a charging dock for sensor maintenance.
The Chart for the Key Features
|
Feature |
Description |
|
Non-Slip Silicone Coating |
The coating ensures a secure hold, even when having a weak grip strength |
|
Smart Adaptive Grip |
The handles are pressure-sensitive where they adjust in real-time |
|
Lightweight and durable |
It minimizes hand fatigue and maintaining longevity |
|
Rechargeable Sensors |
Offers long-lasting usability with wireless charging |
Target Market
The SmartGrip is mainly targeting arthritis patients, elderly people, and caregivers. The healthcare professionals such as occupational therapists will advocate for this product due to the benefits that it brings.
An image of Weighted Bendable Stainless Steel Cutlery (Mobility Shop Direct, 2023)
Usage and Maintenance
The individuals will be griping the utensil normally. After griping the utensil, the SmartGrip will be then adjusting itself automatically. On the other hand, it is also easy to maintain since the person will require to wipe it with a damp cloth and recharge it weekly.
Innovation and Sustainability
SmartGrip will promote sustainable packaging since it will incorporate more than 50% of the recycled silicone. Moreover, it embraces innovation, and in future, it is likely to include developments such as AI-powered customization based on grip history.
References
Mobility Shop Direct. (2023, July 16). Maximise your quality of life with ergonomic cutlery for Arthritic users. https://mobilityshopdirect.com.au/blogs/news/maximise-your-quality-of-life-with-ergonomic-cutlery-for-arthritic-users?srsltid=AfmBOoozWabpCzc2MyixFcpwQvn7Pk-E-q0sJjWD7Gb-Jau_O1DXvs74
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SmartGrip Cost Analysis
Sofia Guallpa
Marketing
Professor Perez
March 25, 2025
SmartGrip Cost Analysis
Cost Analysis
Raw Materials & Manufacturing Costs (per unit)
Significant costs will be involved when manufacturing every unit of SmartGrip utensils. For instance, food-safe silicon will be one of the components that will be utilized to offer a non-slip ergonomic grip. The use of smart sensor technology will assist in adjusting handle flexibility. The rechargeable battery will power the smart sensors, while the non-slip ergonomics will bolster user comfort. Manufacturing of these utensils would also demand labor, leading to substantial employee wages and facility costs. Finally, the cost of quality control will be considered to make sure every unit meets performance and safety standards.
Cost Per Unit Chart
Additional Costs (per unit)
Once the manufacturing phase is completed, additional costs will be incurred in making the products available to customers. For instance, packaging and branding costs must be considered to help achieve eco-friendly packaging and brand printing. The production will involve warehousing and storage costs as these final products must be stored in warehouses. The cost of shipping and distribution must be considered since these SmartGrip utensils will be channeled to retail stores and clients. The products will also incur the advertising cost per unit to spread awareness of the availability of SmartGrip utensils in the market.
Break-Even Analysis
The total cost to produce one unit of SmartGrip will be $25 for manufacturing and $15 additional costs, where the total costs will be $40. The break-even price must therefore be $40 for every unit to avoid incurring losses.
Pricing Strategy
Setting the Retail Price
The record profitability, the price for SmartGrip should be more than the break-even price. The suggested retail price (SRP), retail profit margin, and manufacturer profit per unit will be $59.99, 30% (Retail stores buy for $45 and sell at $59.99), and $19.99 ($59.99-$40.00), respectively.
Strategic Pricing Models
To maximize sales and attract more customers, one of the practical strategies would be the use of bundle pricing that entails buying 2 SmartGrip utensils for $99.99 rather than $119.98 and motivating bulk purchases and surge revenue. Another strategy would be a subscription model that enables customers to pay $10 per month for maintenance and replacements. This model would also offer recurring revenue and foster customer retention. The final pricing strategy will include offering discounts and coupons. Buyers will receive a 10% discount on their first-time purchase.
Marketing Budget and Strategy
Annual Marketing Budget
The marketing of products plays a crucial role in fostering product visibility, so an allocation of $500,000 annually is needed to facilitate promotions. One category for marketing promotion is social media ads on TikTok, Instagram, and Facebook to target online users via paid ads. Furthermore, Google Ads and SEO optimization will be considered to enhance search ranking and Google ad visibility. Other costs would be incurred for collaboration with influencers to promote SmartGrip commodities. Conversely, it would be vital to consider television and online video ads, which would include significant expenses for YouTube and commercial ads. Public events and relations will be allocated significant funds to facilitate product demos, trade shows, and healthcare conferences. The final expenses associated with marketing would include salaries for social media managers and teams, especially content creators.
Sales and Profit Projections
We are anticipating that sales and awareness will grow. For Year 1 the marketing efforts will increase brand recognition which will cause the number of sales to be 50,000 and the profit to be $499,500. On the second year, the sales are expected to double because brand awareness will grow. The profit for this year will be $1,249,000. On the other hand, the third year will experience expanded partnerships and bulk order. This process will cause the sales to shift to 200,000 and the profit to be $2,998,000 as shown below.
Cost per Unit ($)
Cost per Unit ($)
Food-safe silicone Smart sensor technology Non-slip ergonomic handle Rechargeable battery Assembly & labor Quality control Total Manufacturing Cost 2.000000 7.000000 4.000000 4.000000 5.000000 3.000000 25.000000
Sales and Profit Projections in The Next Three Years
Revenue ($)
1 2 3 2999500.000000 5999000.000000 11998000.000000 Profit ($)
1 2 3 499500.000000 1249000.000000 2998000.000000
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Placement Strategy for SmartGrip
Sofia Guallpa
Professor Perez
Marketing
April 12, 2025
Placement Strategy for SmartGrip
SmartGrip is an innovative kitchen utensil focusing on product differentiation for people with arthritis, grip fatigue, or limited mobility; therefore, SmartGrip will implement an extensive distribution and placement approach. From the company to the customer, our growth plan looks at effectiveness, environmental impact, and gaining a share of the market, domestically and internationally.
Distribution Channels and Logistics
SmartGrip utensils will be produced in a specialized facility with auto assembly lines and quality control departments. Upon production, the products will be dispatched to strategic distribution centres within the selected areas of the United States and other parts of the world. The distribution will involve health-conscious kitchen stores, occupational therapy centers, pharmacies, and e-commerce sites in the local market. Internationally, partnerships with health distributors will be achievable due to increased market demand for organizations that provide aid to seniors in Canada, the UK, and Australia.
SmartGrip will outsource shipping to third-party logistics for forwarding, inspection, and clearance. Upon clearance, the products will be taken to other stores within the specified regions in trucks. Other sustainable aspects of our product include environmentally friendly packaging that will ensure safe storage and occupy store shelf space to the minimum. Inventory control will be carried out in warehouses through RFID technology, which will record the exact stock level in the particular warehouse and in the overall supply chain (Tao et al., 2017).
At the retail level, SmartGrip will be placed in the store's eye field, especially in the store's health section or alongside cooking tools for seniors. New bespoke point-of-sales solutions will be designed with the presentation of actual operation samples and barcodes that lead to maintenance clips or customers' accounts. Large banners with high-quality product photos will be posted on the online retail outlets, and the official website and video tutorials will also be posted to make the accessibility reviews credible to consumers.
Packaging, Storage, and Innovation
In other words, the key areas of emphasis in packaging will be function and eco-friendliness. Using recycled silicon for framed silicone products and biodegradable cartons aligns well with the company's eco-friendly brand, SmartGrip. Each unit will be covered with bands around the cap to discourage any form of manipulation besides the base of the cap containing NFC tags, which authenticate the product upon scanning and give directions on how to handle the unit. The product will also move on a FIFO (first-in, first-out) basis in the warehouses to ensure its quality is not compromised (Sembiring et al., 2019). SmartGrip also incorporates smart technologies. Subsequent versions will incorporate Artificial intelligence within grip adaptability and merge with applications on smartphones that monitor grip endurance over time, especially for occupational therapists for their patients and family caregivers for the patients (Mobility Shop Direct, 2023).
Market Challenges and Competitive Landscape
One of the operational challenges that may affect the business is restocking, particularly in retail shops, due to the specialty product. This is particularly the case when placing the new utensils in competitive stores such as pharmacies or grocery stores, as there may already be well-established adaptive utensil brands that dominate the shelves. For this purpose, it is envisaged that SmartGrip will give retail partnership discounts and will include products packaged in retail-friendly packages that can be easily displayed on the shelf. Nevertheless, SmartGrip has certain advantages: the company has a highly innovative and patented smart handle and pressure sensitivity of the grip, which many competitors do not currently have. This innovation also helps explain why a product can be priced higher than the others, even those from the same brand or company.
Advertising Placement Strategy
SmartGrip's advertising message will be targeted and cross-media. Television ads during specific programs appealing to seniors and health-related segments will be aired during the week on AARP, PBS, and other similar channels. Billboard advertisements in the hospital vicinity and senior care centres will ensure brand reminders within urban and suburban regions. Web marketing will be the most prominent in our defences. Online ads on the Facebook and Instagram platforms will be placed every two weeks and will include the target of both men and women above the age of 45 and caregivers. Google Ads that carry search terms such as "utensils for arthritis" ensure that SmartGrip is among the first to appear on the list. Using occupational therapists and senior lifestyle vloggers shall increase credibility and reach the population. In the virtual environment, SmartGrip will use virtual tools that can be used in various virtual showrooms and e-shops for health care and aging people. This campaign activity will be more active during awareness months like Arthritis Awareness Month in May when it is desirable to increase the online impression rate by 15 – 20%.
References
Mobility Shop Direct. (2023, July 16). Maximize your quality of life with ergonomic cutlery for Arthritic users. https://mobilityshopdirect.com.au/blogs/news/maximise-your-quality-of-life-with-ergonomic-cutlery-for-arthritic-users
Sembiring, A. C., Tampubolon, J., Sitanggang, D., Turnip, M., & Subash. (2019). Improvement of Inventory System Using First In First Out (FIFO) Method. Journal of Physics: Conference Series, 1361(1), 012070. https://doi.org/10.1088/1742-6596/1361/1/012070
Tao, F., Fan, T., Lai, K. K., & Li, L. (2017). Impact of RFID technology on inventory control policy. Journal of the Operational Research Society, 68(2), 207–220. https://doi.org/10.1057/s41274-016-0030-5
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