Wing and a Prayer - 949 Words

Marketing Analysis – Wing and a prayer 1. Critical issue/Challenge Identification Current Marketing Strategy Marketing Mix: Product -Bungee jumping (2 types of jump) service -Wing and a prayer t-shirts -Baseball caps -Personalized Video -Colorful posters Place -Western Fair in London -Ontario -Zurich Bean Festival Promotion -Sound System (hip hop, dance, and house, rap music) to build crowd -Banners and Souvenirs -Attract people who are passing by their tent Price $65 for first jump $55 for second jump $10-20 for shirts and baseball cap $4-6 for posters $25 for personalized video Target Market: -Thrill-seeking male aged 18-25 -People who want to experience adrenaline rush and†¦show more content†¦Gross income: 70 jumps $4,200.00 20 videos $750.00 25 t-shirts $375.00 20 posters $100.00 Total (per day) $5,425.00 Total (60 days) $325,500.00 Cost: Jump Platforms $1,000.00 Harness $2,250.00 Crane rent and Operator for 60 days $84,000.00 Staff per hour (2 staffs) for 60 days $9,600.00 Cloth banners $700.00 Tables, Chairs, Walkie Takie and Sound system $1,700.00 Inflatable pad $12,000.00 License and permit $310.00 Ministry engineer $400.00 Physical inspection $200.00 Cord different sizes: 10x300 = 3,000.00 10x500 = 5,000.00 10x1000 = 10,000.00 $18,000.00 Camcorder $1,800.00 1000 posters TOTAL: $800.00 $132,760.00 Fees: First jump $65.00 Second jump $55.00 T-shirt $10-20.00 Video $25.00 Posters $4-6.00 Therefore, break-even point will be on the 25th day of business operation or after 1,750 jumps where they will earn $135,625.00. On the 26th day of operation, they will start to earn their net income which will add up to $189,875.00 after 60 days which is equivalent to 2,450 jumps. Since Stephan and Zach plans to split their profit in two, both of them will receive $94,937.50. This amount of money will be more than enough to return to University for the fall semester even if they are planning to use the money theyShow MoreRelatedWing and a Prayer1717 Words   |  7 Pagesâ€Å"A Wing and A Prayer | Mark 16; Case # 2 | | â€Å"Wing and a Prayer† Case #2 This analysis is being conducted for the purpose of providing two young passionate men, with a realistic point of view of different scenarios that they shall encounter, while trying to open up, â€Å"A Wing and A Prayer†. This business is dedicated to providing the public with a mobile bungee jumping experience. 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