ORNABULB - BCbc presents the ORNABULB BY MONDAY OCTOBER 15,...

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BCbc presents the ORNABULB ® BY MONDAY OCTOBER 15, 2001
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P oint – The point of the marketing project is to allow students to utilize the marketing information that has been learned throughout the trimester, in a hands-on scenario by selling a product while answering the basic marketing questions of who, what, when, where, why, and how. R eason – Being able to apply marketing concepts to real scenarios is important because we will be required to do just that when we attempt to graduate in 2003. E xample – As graduates of Kings Point, we will all find ourselves using marketing concepts, whether at work, or to find work. This use of marketing will not cease once we find a job, but it is a continual learning process because the demands of the market are continually changing. S o W hat – We should be aware of the importance of marketing for two reasons; first, marketing can be applied to almost anything we do in life, and when used correctly can help us do it better, secondly, marketing helps us understand what is going on around us so we can make informed decisions.
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Corporate Logo / Brand Name When choosing a logo, a company must decide how it wants to represent its product. In the case of the Ornabulb, our logo includes the name of our product, as well as, a symbol to represent the product. The tree symbolizes the main use for the Ornabulb, hanging it on a tree, and the light bulb in the center of the tree represents the light bulb with which we derived the Ornabulb from. The Ornabulb’s logo sums up the product starting with its name and showing the product’s use, while at the same time staying simple and easy to recognize and distinguish from other product logos. Product Strategy Besides being an attractive addition to any tree display, the Ornabulb provides a symbol of American patronage. Only half of our product is the actual Ornabulb, the other half is what makes it unique among other ornaments for sale this holiday season. On the outside, one would see a red, white and blue ornament to remember the men and women affected by the events of September 11, 2001, but in reality the Ornabulb is more than a physical display, it is unique by the way the person displaying it can show their American spirit. This product is in the problem child/question mark stage of the portfolio matrix because it has a low market share in a high-growth industry. We consider it to be in a high-growth industry because the sale of patriotic merchandise is expected to be at an all time high during the holiday season according to numerous internet holiday marketing statistics. The product name, Ornabulb, is easy to pronounce, spell, and remember, as well as, it gives a thorough description of the product in one word, “orna” relates to the ornament aspect of the product, and “bulb” relates to a light bulb, which is the base for
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the product. The name Ornabulb also distinguishes our product from all others on the market because it is different, descriptive, and easy to remember. Marketing Plan
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This note was uploaded on 02/21/2011 for the course ECON 101 taught by Professor N/a during the Spring '01 term at United States Merchant Marine Academy.

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ORNABULB - BCbc presents the ORNABULB BY MONDAY OCTOBER 15,...

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