This question has been answered
Question

picture frame.png


QUESTIONS:


  1. What are your promotional goals? In other words, what do you hope to achieve and what is your call-to-action?
  2. What combination of tools are you going to use to help achieve your goal (advertising, PR, sales promotion, etc. - traditional formats or online - a combination)? Explain your proposed IMC strategy. Be specific. Don't just say that you think PR should be used, but instead explain in detail (a few sentences) what you would recommend. Similarly, don't just say that you'll use an Instagram context, but instead describe the contest (a few sentences). What? When? Where? Why?

Image transcriptions

Scenario: You recently came up with the idea to sell expandable picture frames that can fit any size picture by retracting the sides inward and outward. Talking about the competitive industry, many alternative competitors involve a framework. The operators within the expandable picture framing stores industry involve providing ready-made frames and custom framing services. The industry is dominated by small companies that operate from one to a few locations and serve specific geographic regions. The sector has no significant competitors as no player has a market share of greater than 5%. The competitors are Artists Frame Service, Aaron Brothers Inc., and American Frame Corporation. They provide custom framing services for pictures and don't include broad-line crafting stores that provide framing services. Still, no company is providing services like what our brand is providing that's an expandable frame which may adjust as per the need of the customer; talking about the industry size, the picture flaming industry is $2.0 billion in 2020, and there was a decline of 2.9% in the rate of growth compared to the buyer goods and services; the image framing industry declined faster. 4P5 or product is a product in unique that has an expandable frame, adjustable lightning, price is additionally appropriate that's $20 and is affordable, the place is, are selling products on both offline and online channel and promotion is done on social media, local advertisement is going to be through with the help of banner and posters. The industry trend is also revolving because fashion is changing at a breakneck pace; the employment of technology in products increases. This product idea is completely unique and you want to put it on the market right away. When meeting with investors, they ask the following questions about your product.

Answered by Expert Tutors
Step-by-step explanation
The student who asked this found it Helpful
Overall rating 100%
Scenario: You recently came up with the idea to sell expandable picture frames that can t any size picture by retracting the sides inward and...
Get unstuck

303,122 students got unstuck by Course
Hero in the last week

step by step solutions

Our Expert Tutors provide step by step solutions to help you excel in your courses