Jim Taylor inherited a small sum of money from his father and is using his
inheritance to start a company that manufactures and sells rain barrels for homeowners. Jim makes his barrels out of recycled materials. Because he is the manufacturer and the retailer, and because he already owns the land and building for manufacturing, he believes that he can undersell the competition by 10% and still make a nice profit. He wants you to develop a promotion plan and help him come up with a good brand name.
You will need to conduct internet research on rain barrels to learn what they are, how they work, what the benefits are, how much the existing competition charges for them, and any other information you feel would be helpful.
Jim wants a catchy name that portrays a “green” image and his love for nature and water conservation. He is leaving it up to you to create something that will launch his company to national recognition.
The Promotional Mix
Jim wants to know how he should promote his new product and company. You will need to develop a promotional mix explaining your plan for
- personal selling
- sales promotion
- public relations
address the following: