Drunken Monkey
Drunken Monkey
Drunken Monkey
TECHNOLOGY
INDUKAKA IPCOWALA INSTITUTE OF
MANAGEMENT
• Identify the Target Market: Determine the target demographic for Dunkey Monkey. Consider factors
such as age, gender, income level, geographic location, interests, and preferences. This information
will help tailor marketing efforts and product positioning.
• Competitor Analysis: Identify competitors in the market who offer similar products or services.
Analyze their strengths, weaknesses, pricing strategies, distribution channels, and market share.
Understanding the competitive landscape will help identify opportunities and threats for Dunkey
Monkey.
• Market Trends and Dynamics: Research market trends, consumer behavior, and industry dynamics
related to the product category. Consider factors such as emerging technologies, regulatory changes,
consumer preferences, and economic conditions that may impact the market.
• SWOT Analysis: Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis for
Dunkey Monkey. Identify internal strengths and weaknesses of the product, as well as external
opportunities and threats in the market.
• Customer Needs and Preferences: Understand the needs, preferences, and pain points of the
target market. Conduct surveys, focus groups, or interviews to gather feedback from potential
customers. Identify key features or benefits that resonate with the target audience.
• Market Size and Growth Potential: Estimate the size of the
target market and assess the growth potential for Dunkey
Monkey. Consider factors such as population demographics,
market segmentation, and adoption rates for similar products.
• Distribution Channels: Determine the most effective
distribution channels to reach the target market. Consider
options such as online sales, retail partnerships, direct sales, or
distribution through intermediaries.
• Pricing Strategy: Develop a pricing strategy based on the
perceived value of Dunkey Monkey, competitive pricing, and
pricing elasticity. Consider factors such as production costs,
profit margins, and willingness to pay among target customers.
• Marketing and Promotion: Develop a marketing plan to promote
Dunkey Monkey to the target market. Identify key messaging,
branding elements, advertising channels, and promotional
tactics to raise awareness and drive sales.
• 4p’s of Marketing :
Planning:
Planning involves setting organizational goals, defining strategies to achieve those goals, and developing plans to coordinate
and guide the activities of the organization. This includes forecasting future trends, assessing risks and opportunities, and
allocating resources effectively. Planning helps managers anticipate challenges, make informed decisions, and align efforts
toward common objectives.
Organizing:
Organizing involves structuring the resources of the organization, including people, materials, and finances, to accomplish
the plans and achieve the desired goals. This includes designing organizational structures, defining roles and responsibilities,
establishing reporting relationships, and creating systems and processes for efficient workflow. Organizing ensures that
resources are allocated effectively, tasks are coordinated, and responsibilities are clearly defined to facilitate smooth
operations.
Leading:
Leading involves influencing and motivating people to work towards the organization's goals and objectives. This includes
inspiring and empowering employees, providing direction and guidance, fostering teamwork and collaboration, and resolving
conflicts. Effective leadership involves communication, coaching, mentoring, and setting a positive example to inspire
commitment, engagement, and performance among team members.
Controlling:
Controlling involves monitoring performance, comparing actual results against planned objectives, and taking corrective
action as needed to ensure that goals are achieved. This includes establishing performance standards, measuring progress,
analyzing variances, and implementing adjustments to address deviations from the plan. Controlling helps managers evaluate
Budget (Investment & returns breakup)