Please do not copy the answer already given

This project involves preparing a written marketing plan for lithophanes ( A lithophane is an etched or moulded artwork in fragile, translucent porcelain or plastic that can be seen only when backlit with a light source. It is a design or scene in intaglio that appears "en grisaille" tones ).

Price planning

The price for one custom lithophane from Memories in the Light is $35. This is a competitive price and while creating valuable pieces and upholding the image of the brand. The pricing objective that Memories in the Light bases the prices of the products on is customer-related orientation. The objective of Memories in the Light is to create pieces that bring the customers memories to life so ensuring confident customers and customer satisfaction is essential in being a profitable business. Growing customer satisfaction will increase return customer rate, referrals and positive reviews.

The materials used to make the products are PLA (which is a type of polyester), a 3D printer, software, and light. Very labour would be needed to make the product. Since the printers would be doing most of the work, the only thing that needs manual labour would be to design the model in photoshop and packaging. The estimated hours of labour needed for one litho-hand is 0.5 hours.

Fixed costs:

Using the 3D printers, one lithophane takes roughly nine hours to make and you can only make one per machine. There will be 3D printers typically lasting four years and will need to be replaced depending on wear and tear. With an increase in demand, more printers may be required. This cost would be around $500/printer. 5 printers were purchased for the startup of Memories in the Light. 5 printers were purchased for the startup of Memories in the Light and a loan was taken out to pay for the printers. For the $15000 loan, there is an annual interest rate of 15% with a repayment period of 4 years. The monthly fixed cost for the printers is $417.46. The software needed to design the lithophane is also a fixed cost. The typical software used in creating lithophanes is Adobe Photoshop, which is a monthly fee of $20.99.

Variable costs:

The cost of the PLA is $0.70/lithophane. The cost of the light used, a LED plastic tea light from amazon, is $0.99/light. The labour cost would be $7.5/lithophane ($15 minimum wage in Alberta X 0.5 hours per product).

The strategies and tactics used in the price planning of the lithophanes is a cost-based approach of standard markup prices. Since the fixed costs of the products are monthly payments, the markup needs to reflect these costs. The fixed costs are high compared to the variable costs and the markup within the prices needs to reflect these costs. The variable costs per lithophane are $9.19. The price mark up is 281% to allocate for the fixed costs. With these fixed and variable costs, Memories in the light will need to make 17 lithophanes per month to break even.

Answer the following questions based on the product.

Implementation and Evaluation (Control)

• Discuss the implementation process and present a timeline for key implementation activities.
• Provide a summary of expected financial results (e.g., pro forma income statement).
• Discuss the timing and nature of expected evaluations (controls/marketing metrics) for the marketing plan (how will you evaluate if the objectives you have specified are met?).
• Identify the significant contingencies that may arise and describe the proposed responses to each.