Corporate Image of Interconsumer Solutions - Case Study Example

Project Plan INFS 2032 Assignment 3 Business Name Interconsumer Solutions Business Type Sole proprietorship business Goods/services Soap and cooking oil The Australian market is advanced and players are keen on decisions, which are going to give them a competitive presence over the others. Such decisions include the business name, the logo, the theme, colours, and signs. A business is justifiable if it can have sufficient customer base, which can raise enough contribution to cover fixed costs. It is also important so that the owners of the business can reasonably assume that the business is a going concern. This is achievable by implementing the whole umbrella of the marketing activities. This project seeks to explain some of the fundamental decision units to enable Interconsumer Solutions to enter the market successfully considering aspects of the company name, target audience and it corporate image. Interconsumer Solutions is a sole proprietorship business producing two home consumables: soap and cooking oil. Business Name The research for the business name resulted with many possible names. Careful considerations of relevant factors led to settling with “Interconsumer Solutions.” 28th May 2008 saw the replacing of state and territory services role of registering names of businesses in Australia Error: Reference source not found. The new body charged with that responsibility is the Australian Securities Investments Commission (ASIC). Some of the facts taken to consideration are that names are of core importance since they do not change throughout the life cycle of the business Error: Reference source not found. A name should be quickly and easy to understand. “Interconsumer Solutions” is short and quirky giving it the advantage of being remembered by the consumers. Regarding the fact that the field of producing consumer products has very many players, such a name is going to stand out. The name is also descriptive, it sheds light on the kind of business the company engages in, and for this matter, Interconsumer Solutions engages in production of consumer products Error: Reference source not found. Cadence of this name is also desirable. The name is not a long obscure sentence, which is hard to pronounce. It is simply two words, which makes them easy to remember Error: Reference source not found. ASIC has a determined framework of standard to be adhered to when businesses area choosing names Error: Reference source not found. Some of the suggested names, which could have, went a long way in achieving corporate presence for the company fell short of ASIC’s rules. “Interconsumer [Australian] Solutions” would have secured allegiance from Australian customers and are niche for the business was rejected since the characters “[]” are considered invalid. “Consumer Solutions” was rejected because the term “consumer” is a restricted word. It would therefore require a ministerial consent for it to be registered Error: Reference source not found. Target Audience The products of Interconsumer Solutions have a wide target market. Almost all households consume soap and cooking oil. More specifically, the target market for the soaps will consist of the young population and students. The young people love style, new trends, and affordability. The soaps will be parked in six packs, which is the average number of soap pieces, which students use per semester. The packaging will be attractive and distinctive with red and pink colours. The pricing for the six packs will be lower than the other market leaders to attract the young consumers. The cooking oil will be packed in small units of up to quarter a litre to attract the middle and low class in Sydney. Many similar businesses have exploited their audiences of choice in Australia. Multinationals like Unilever sell soaps and cooking oil. Unilever mainly commands audience in the middle to high class due to their spirited advertising campaign. Azalea Australia also command substantial market size in the production of cooking oils. It is a fact that Azalea has been in the market for a long time and has committed customers but they have not exploited the market of the youth and students well. It is mainly consumed by the middle class Australians. Eyes of Adonia also provide an assortment of consumer products (StartLocal 2012). It has a handsome market base but like the other competitors, it has not taken a firm grip on the market for the youth and students. Extensive research aided in provision of the above information. It involved visitation of various supermarkets observing their stocking. Interviewing of the attendants in the supermarkets revealed information on which brands move faster than others. Various online forums e.g. www.startical.com also give a survey and insights on what Australians want. The IBISWorld report indicated that as prices are skyrocketing in Australia, the market for the middle and low class is targeted Error: Reference source not found. Friends and relatives sharing their opinions on leading brands also is a viable source of information. Corporate Image Any firm strives to elicit a favorable image in the minds of people when it is mentioned. Corporate image is that perception the stakeholders of the business have Error: Reference source not found. This image varies with all the aspects in the company’s business environment, e.g. Media attention, their marketing, and branding activities Error: Reference source not found. It likened to the company’s goodwill and reputation Error: Reference source not found. Interconsumer Solutions will have sticking corporate identity, policies, and practices to ensure an outstanding corporate image. The corporate design entails a bright persona of the company with a colorful logo and simple yet stylish fonts. The logo is simple with few items to avoid overcrowding. It is appealing to the eye. It is bold and clear, it can easily be identified from far. It is suitable and appropriate for the young target audience. The logo is also certainly unique; there is no any other business with such. The theme contains blue red and gold colors. These colours will be used consistently in all communications from the business. The blue color is in line represents the main color in the Australian flag. This makes the Australians identify with the brand. The gold color is a royal colour, which sits well with the youth and women. The rising sun symbolizes the comfort of a beautiful day after using Interconsumer Solutions products. Colour yellow also suits a company, which produces oil. The colors are only four, and interact well with each other Error: Reference source not found. The fonts are Arial and Aparajita. Arial is mainly for simplicity and Aparajita provides the uniqueness since it is not a commonly used font. A favorable image not only attracts customers, it also keeps them. A good example is Apple computers. It has maintained an amazing image for over 30 years it has existed. It has a simple recognizable logo. Apple’s identity is presented by the innovative multicolored logo of a bitten apple Error: Reference source not found. In conclusion, Interconsumer Solutions is expected to do well in the market. This boils down to the selection of the right company name, having the audience in mind and bracing up for a favorable corporate image. Reference List Error: Reference source not found Read More