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Light-Life - Product Features, Uniqueness and Customer Benefits - Example

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The paper "Light-Life - Product Features, Uniqueness and Customer Benefits" is an outstanding example of a marketing capstone project. The recommended business is a sportswear with the name of the business being ‘Light Life’. This business will be located in Parramatta and is expected to capture the young and middle-aged population…
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Download file to see previous pages The paper "Light-Life - Product Features, Uniqueness and Customer Benefits" is an outstanding example of a marketing capstone project. The recommended business is sportswear with the name of the business being ‘Light-Life’. This business will be located in Parramatta and is expected to capture the young and middle-aged population. Bearing in mind that this is the largest population in the city, the business is expected to achieve continuous growth in terms of market share and customer loyalty through the application of recommended strategies. The recommended business structure is a sole proprietorship with you, the owner (Mr. Michael) being the general manager. However, it is recommended that you employ three other employees of whom one will be an assistant supervisor. This business plan is intended to guide you in making major decisions that will determine the success of your business.

The most important objectives for the business are

  • Ensure consistency in sales growth
  • Reduce operation cost
  • Attain customer loyalty and continuous attraction of new customers

The sportswear market is very large and is the demand is still on the increase. It stands at US$58497 globally and with increased population and affiliation to a sports team, this is likely to grow further. The main advantage that ‘Light life’ has in relation to management is leadership capability. You as the owner have had 10 years of experience in health and fashion products which means that this knowledge will be transferred to the business. The strategic location of the business which is Parramatta is also an added advantage. This area is residence to sports venues which attract large clouds of people. Lastly, it is recommended that ‘Light-Life’ ensures continuous market research in order to always be ahead of its competitors in terms of innovations and identification of changing trends and styles. This will be easier especially with the use of IT infrastructure to be implemented in the business.

‘Light-Life’ should not ignore the role of strong competitors in the markets such as Addidas. This competitor has already secured a large market share and has the required finances to enhance this. In addition, the business will be relying on a loan. This is very risky due to the rising and unpredictable inflation rate being experienced throughout the globe. 

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