I don’t know how to handle this Business question and need guidance.
I will upload a ppt file. Please fill in slide 7 which is Who are you direct and indirect competitors?(promotion)
Based on the info from the ppt. It is a subscription skincare box. We want to combine our product with a concept focused on mental health targeted towards college student.
Here is the introduction of this assignment:
This assignment is a way to apply course material you learned during Segmentation, Targeting, and Positioning (STP), Pricing as well as Promotion. You will come up with an idea for a subscription box or another product. This is a good domain to apply your knowledge of STP, pricing and promotion as subscription boxes tend to target very specific, niche groups, and a subscription box could be made for just about any target market. It also allows you to work on something that actually is relevant to your interests/hobbies.
If you are not sure what a subscription box is, these links do a good job of explaining them. These are also good resources in general, as they not only tell you what they are, but also how much they typically cost, etc.
You want to come up with your own subscription box. You do NOT want to do this assignment on an existing one. If you are struggling to come up with one, start with what your hobbies and interests are, and how a subscription box could be made around that. You can also do an internet search to help generate ideas. Keep in mind that yours will need to be unique. If there are other subscription box services in the same/similar product category as yours, that is fine, but you’ll need to talk about that in your assignment (e.g., how yours will be unique, positioned differently, targeting a slightly different market, etc).
Just about anything can be a subscription box, so long as it lends itself well to shipping (a “free weights” subscription box would be a bit pricey to ship). Many of the boxes that I know of are for profit, but maybe you have an idea for one that is sustainable as a non-profit?
If you choose to create a product other than a subscription box you’ll answer a few more questions, regarding where your product will be distributed (online through your own site? Online through a different retail site? Through brick and mortar stores…which ones?).
This document has the questions that you need to answer in your PowerPoint presentation.