Launching a new business.
Apex International Ltd is a health care product company. The company is about to launch a new product in the market. The health care segment of this company is well renounced with products ranging from medical devices to surgical apparel including sterilization wrap, surgical gloves, surgical drapes and gowns and other medical devices. In an over all sense their products are targeted towards general health and hygiene. Therefore the vision statement would be a logical conclusion to launch a product in alignment with general health and hygiene.
At present the mission statement of the company is to expand and occupy global market with a new and ingenious product. This is because to mark an impact in the global market the company must employ a strategy in the parameters of product selection that would enable the company to stand at a distinctive position. This distinctive position would help the company to attain a better market segment. For the purpose, along with a new and effective product, the company needs a group of motivated employees who would be able to execute the laid down strategy by the top management. The company is confident about its present group of employees and is certain that the motivated workers would be able to execute the planning without much specified difficulties.
Thus the employees should
1. Follow the laid down principals and strategies closely
2. Understand the need of the potential customers clearly
3. Understand the preference of the potential customers
4. Provide customer service at the highest level
The company is set to launch a new product in the line of its existing item but in an updated and creative mode. The business would be spread over a large amount of markets around the world, and would venture into the markets of Asia, especially China. This would be well supported by market segments of other continents like North and South America, Europe and Australia and Oceania. The business would be controlled by the central headquarter situated in each of the countries of operation which would controlled by the Continent Head Office. The supreme negotiations would be done from headquarter situated in New York as it is a predominantly New York based company.
Operation requirements for this project are vivid and intricate.
Firstly the management has to development a perfect schedule in terms of production in the line of future market potentials.
Secondly, it should be looked upon that every aspects of the potential market segment is evaluated and measured.
In the third phase of the operation requirement it should be noted to understand the need and priorities of the targeted customers.
Lastly, a core unit should be developed to look into the motivation factors of the employees in the long run.
2. Vision Statement
As the general consumer durable health and hygiene related products of Apex International Ltd includes mostly fabric related products or versatile materials that are developed from synthetic fibers it would be a logical conclusion to include a product like a fragranced panty liner for white discharge in this context.
At present Apex International Ltd deals in products of personal care such as feminine pads, incontinence products and diapers it would be favorable for them to include panty liners for white discharge in this list of products specifically when the base material of the panty liner for white discharge is aligned with the base material of the other mentioned and related product which is non-woven fabrics. In the context of non-woven fabrics it would be interesting to mention that Apex International Ltd themselves is responsible for manufacturing non-woven fabrics in huge number of grades that are numbered around hundreds.
As these grades of non-woven fabrics are already operational for various purposes like spill control, car covers, industrial fabrics, home furnishings and flexible packaging making room for an additional product like fragranced panty liner for white discharge would not include any further fixed or capital cost to the company.
As for the market segment part the new product i.e. fragranced panty liner for white discharge would become a market leader world wide when a support system of a company like the Apex International Ltd is applicable.
To begin with it would be applicable to mention the need of panty liner for white discharge with a brief detail of white discharge as an ailment. White discharge is regarded as a vaginal discharge that is considered as normal during and after the menstrual period and it varies from woman to woman. It has been estimated that during the period of ovulation the mucous products increase and it has been reported that after the interval of ovulation the amount of white discharge increases by about 30 times. The material is elastic and watery in nature and therefore it is prescribed by the doctors to use panty liners during this time frame of the cycle. One of the most difficult propositions of this material is that it has a very bad odor.
Thus to access this market with a significant product the company needs to introduce a product that is
1. Well Fragranced
2. Extremely Hygienic
3. Highly dependable
4. Cost effective
3. Sales, Marketing and Finance management plan
The marketing strategy of the Apex International Ltd would be to develop a fragranced panty liner for white discharge. Developing a healthy and attractive fragranced panty liner for white discharge would never prove to be very difficult for the company as it is already in operative stage with relative products.
The potential, if the assumable market of this fragranced panty liner for white discharge is taken into consideration, could be substantially huge. It has been estimated that without the use of a normal panty liner for white discharge various symptoms may arise like discomfort, itching or even pain due to formation of fungal infection due to the amount of white discharge. Therefore, panty liners are essential and as it is consumer durable in nature therefore there is no chance of market being exhausted. Moreover, with a better campaigning with the focal point mentioning the betterment and advantages of a fragranced panty liner for white discharge would certainly help the company to occupy the existing market of panty liners by a huge margin.
At present the market segment of the world of panty liners are segregated among numerous companies of which a bulk of the companies represents China. These Chinese companies would be the prime target once Apex International Ltd takes over the manufacture of this new fragranced panty liner for white discharge and makes the product operational. The major reason of targeting China as the premium competitor would be the reason that these companies are basically marginally equipped to compete in the international market. Therefore they should be the primary concern as being the softest targets of all.
Secondly, the advantage of the Chinese companies to be able to penetrate into low market segment could well be nullified with the campaigns concerning health issues. Once this has been done a bulk of the customers would be diverted towards the Apex International Ltd’s product of fragranced panty liner for white discharge as there are hardly any individual who would compromise in terms of health issues. This would have an additional advantage for the company. Once penetration is possible within the market occupied by the Chinese companies it would also be possible to inflate the market with other products of the Corporation. This would be a double advantage and a scope of further optimization of revenue.
Thirdly, the other plus point enjoyed by the Chinese companies is the ability to penetrate into the markets of different nations all at the same time.
The amount of customers for this fragranced panty liner for white discharge would be by no means negligible. It has been estimated that about 9 million women visit the gynecological department or the general practitioners each year. This is just the estimation of the United States alone. It would be quite interesting to find out the actual number of potential customers for this new fragranced panty liner for white discharge world wide. That would mean a titanic amount of potential customers waiting for the fragranced panty liner for white discharge if marketing and campaigns are well executed by the Apex International Ltd. (Dollard, 2005)
Thus once China is marginalized from the basic market of the fragranced panty liner for white discharge the rest of the market would fall in place with competition on the equal ground with other European, Australian and US companies. Here the main advantage of the Apex International Ltd would be the application of the fragranced panty liner which would drive away other potential competitors from the market and by the time any other company is able to formulate something new like the fragranced panty liner for white discharge the battle for supremacy over the market would belong won by the Apex International Ltd. Therefore it is obvious that a brand new product by the Apex International Ltd would be resulting into a clear winner not only in the local or national level but it is a cut made up for the international level and thus should be treated as a cut above the rest.
Dollard, John & Robert R; (2005); The White discharge Syndrome; New University Press; 21-25