The Timberlake Company intends to own the largest market share within the next two years through the manufacturing of high-quality soap products. These products will continuously improve the health of customers and reduce illnesses caused by germs. This company cares for the health of its customers, employees, and the community at large. It will manufacture high-quality disinfectant soaps, which prevent and cure illnesses. It will offer natural soaps free of chemicals for daily use and treatment.
The company understands the significance of its core values in its operations. Core values act as principles to guide a business or a corporation (Whiteley & Whiteley, 2007). Some of these values are the close relationships between the management and employees, and between the organization and customers.
To achieve this, Timberlake soap manufacturers will have principles that demand respect, discipline, care, motivation, and sharing of the company’s goals. This will foster employee morale towards achieving the company’s goals and hence create a high-performance work environment. The company will also ensure that customers are treated with courtesy and care in order to influence post-purchases of the new products.
This will be done by attracting and retaining customers. The other core value is resource utilization. This achievement will help the company to save on costs, and maximize sales and profits. The other value of Timberlake is time management. This value will guide the company to accomplish its projects within the specified time, and hence accomplish its vision as set in its memorandum.
The need for the new product, and the target market
This new product will be beneficial to the target audience considering that the country has reported a lot of cases of people dying because of communicable diseases. The demand for the product is high at the moment, and will always continue to increase because humans need soaps to wash their hands or bodies so as to live healthy lives.
With this product in the market, the company has a competitive advantage because most consumers demand chemical free soaps for better health. Most of the soaps produced by the competitors of Timberlake do not absolutely eradicate the spread of communicable diseases. This clearly shows that Timberlake’s product will do very well in the market because it is capable of eradicating communicable diseases.
According to researchers, a lot of people die due to communicable diseases more than those who succumb to cancer and AIDS combined (Gani, 2009). The transfer of communicable diseases is common in day care, restaurants, and hospitals. Timberlake soap manufacturers target restaurants, day care, and hospitals for its new soap products. The Day care instructions are in particular an ideal market for the Timberlake soap product considering that they are the most affected by communicable diseases.
The shaking of hands and exchanging of toys among other activities in day care encourage the transfer of bacteria or viruses among individuals. This shows that there is a high demand for the soaps manufactured by Timberlake within the day care institutions. Introducing the new Timberlake product in day care, hospitals, and restaurants will bring high yields for the company.
There are more than 800-day care centers in the region, 524 hospitals, and more than 1000 restaurants. Through market segmentation, Timberlake will make its soap products available in these markets.
The business model of Timberlake soap manufacturer
The company will use the manufacturer business model to start a new venture. It will take raw materials and develop new soap products that suit customer preferences, providing customers with high-quality soaps that will continuously improve their health and reduce illnesses caused by germs. The company will sell its new soap products directly to consumers. It will also outsource sales services to other companies to increase its market share and growth.
The manufacturing business model is beneficial for Timberlake in many ways. The demand for manufactured products is always higher compared to those of other business models (Miltenburg, 2005). Most of the Asian companies such as China and India confirm this. The manufactured products have a high demand than other products. Timberlake will ensure that its manufacturing facilities are flexible at all times in order to keep in touch with the changing environment and remain sound always.
The manufacturing model adopted by Timberlake will also help the company to produce products that satisfy the needs of its customers. The company will manufacture high-quality soaps, which customers use and value in improving their health and reducing communicable diseases. This will help the company to gain a competitive advantage over its competitors.
Feasibility analysis and the likely roadblocks
The new product is feasible. First, considering that the new soap product is unique and different from others, customers will easily recognize it in the market. The purpose and the effectiveness of soap in regard to reducing and preventing communicable diseases will also lead to an increased demand for the products.
The company will develop branding campaigns in order to create awareness of the new soap product and to inform customers about their use. This will influence customers to try or buy products (Fisher-Buttinger & Vallaster, 2008). This will help the company to create a positive perception about the product, and increase its sales. The Timberlake Company will also continue to manufacture new products in order to remain grounded to the changes in customer preferences.
However, there are several roadblocks that will challenge the new business. The main barriers include competition from the other products, inadequate raw materials, high cost of integrating technological systems, government restrictions, and the quest to go green among others.
The company will develop several strategies to curb these challenges. For instance, it will continue to differentiate its products and charge them at favorable prices to influence purchases, integrate technology, but also seek alternative methods of reducing costs and increasing profits. It should also convince the government that what it is doing is of great benefit to the citizens based on their health requirements.
Source, period, and future financial condition of Timberlake Company
The Timberlake Soap Manufacturer will build a good relationship and connection with its suppliers to ensure the availability of raw materials at all times. Currently, there are more than 800-day care centers in the region, 524 hospitals, and more than 1000 restaurants. The company already has constructed a soap manufacturing plant, and a large section of the project has been completed.
In 6 months, the company will ensure that it markets and sells its products within the region. After the successful market penetration, it will continually expand to the neighboring regions, and hence increase its market share. Timberlake will open another plant in the neighboring region before the end of one year.
The region spends more than $2.5 billion on health care and treatment of communicable diseases. This shows that if the company manages to obtain a market share of 50%, it will earn more than $1.5 billion from hospitals. The same case will apply to restaurants and day care centers.
In one year, the company’s annual earnings will range between $5 billion and $7 billion from the sale of the new product. The future financial position of Timberlake Company looks promising because the company will continue to expand its business across borders. Moreover, it has the support of other organizations that promote education and awareness of fighting communicable diseases.
References
Fisher-Buttinger, C., & Vallaster, C. (2008). Connective branding: Building brand equity in a demanding world. Chichester, England: Wiley.
Gani, A. (2009). Some Aspects of Communicable and Non-communicable Diseases in Pacific Island Countries. Social Indicators Research, 91(2), 171-187.
Miltenburg, J. (2005). Manufacturing strategy: How to formulate and implement a winning plan. New York: Productivity Press.
Whiteley, A. M., & Whiteley, J. (2007). Core values and organizational change: Theory and practice. Hackensack, NJ [u.a.: World Scientific.