Professional Documents
Culture Documents
Assignment 01
Assignment 01
Assignment 01
Registration # Name
Submitted by: 18-ME-24 Muhammad Uzair
Obtained Marks:
Here is a recommendation for strategic change in our product’s advertisement policy. After
comparing, our investments on the advertisements and the resulting outputs, with our business
competitors, I have found that they invest less than our company yet their products are more
popular.
The basic reasons I have found out are: we are investing on electronic media rather than social
media platforms and we are not having professionals to make an eye-catching outlook for our
products. Looking at the statistics of last product, total production cost was $10,000 we
invested $6,000 on advertisements and resulted with a net profit of $10,000 while on the other
hand our competitor invested $2,000 on product’s advertisements campaigns with production
cost of $10,000 and resulted in net profit of $16,000.
Currently, 60% of the product cost is being invested on advertisements and we can reduce it to
20% by using social media platforms for advertisements including Facebook, Twitter and
Instagram which allow more people to connect with us virtually. In this regard it is suggested
that we should hire social media professionals including Graphic Designers, Content Writers
and Social Media Campaign Managers. These recruitments will cost 60% of the current
investment and we are left with 40% out of which 20% will be spent on social media
campaigns. The rest 20% will be the profit increase of our products.
By covering this there are more employment opportunities to the youngsters with higher
expertise in Graphic Designing, Public Relations and Mass Communication. We can also offer
price cutout on some of our products that will increase their range of buyers for 15-20%
expected.