Manufacturing in China has kept YOYO Lip Gloss’s costs low. Thus, I will be able to pass these savings onto the consumer, retailer, and salespersons so that all can benefit from this product. In addition, low manufacturing costs will enable YOYO Lip Gloss to fulfill a company goal – to establish the YOYO Foundation, which will use a portion of the profits to assist children in need, in the U.S., as well as abroad.
As I look back, the only thing I would want to change is the knowledge that I have gained through this journey. I have learned so much. But that is part of the thrill - learning, growing, and changing. I enjoy figuring out how to complete new tasks and making old tasks easier to perform. If I had the knowledge I now have, it would have made life easier and the process much faster, but it is all part of the learning experience – it’s part of life.
Now that Angie’s idea has taken form and YOYO Lip Gloss is in production, how will she get her product into the hands of her target market?
REACHING THE CONSUMER AND BEYOND With production underway, Angie needs to implement her plans to market and sell her YOYO Lip Gloss. Angie used various outlets to gather information to assist with developing a marketing and advertising strategy. Among these sources were Teen Market Profile, Packaged Facts, and Media Post Communications. Angie learned that the three major ethnic teen populations are African Americans, Asians, and Latinos. Based on this information, the YOYO characters’ personas were created. Angie also determined that popular venues for female teen shoppers are shopping malls/centers and discount stores. How will this information benefit YOYO Lip Gloss? Angie wonders whether she should coordinate in-mall events to increase awareness of her product. She also must decide which promotional and advertising approaches will offer the greatest benefits to YOYO Lip Gloss.
Angie plans to distribute her product through various channels including general merchandise stores as well as apparel and accessory stores. An independent sales force will be used to