Individual Case #1
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The following are the critical issues Jennifer Ridgeway faces in her company Moonsnail Soapwroks:
1. How to implement an effective marketing plan with limited budeget 2. Due to a lack of marketing expertising they need to successfully firguq out how to market their new product, Moon Baby Cream 3. How improve the business plan for future strategy in order to achieve long-term growth
Moonsnail Soapworks was founded in 1995 in Price Island Island. The current partners include Jennifer Ridgeway the creative designer of the company and her husband Marcus Lutterman, who manufaufetured the products. The anayslis of the Income Satement for 1998 and 1999 showed a increase in retail sales of 20.2% year over yeat anf a decrease in w3holseale sales of -17 % respectively. (See Exhibit 7) Jennifer needs to decided wheter shes will reline her marketing straegy of the the wholsale sales side of her business or if it will be better to not focus on that segment market all together.
Moonsnail Soapworks has an assortment of over 30 products all handcrafted and designed for personal care. Many products come in a variety of fragrances and options of purchase. Moonsnail Soapworks offers seven different product lines, they are: Soaps, Skincare, Healing, Bath and Body, P.E.I. Shop, Anne of Green Gables, and Home Aromatherapy. A new line was recently introduced designed specifically for babies skin, the line is named Moonbaby cream. The prices for all the products range from $4.25 for a bar of soap up to $30.00. The average price of most products lies around $7.95.
The most recent documented total sales of Moonsnail Soapworks were $80,575 in 1999, with an