Plings.com: Online Business Expansion Evaluation

Research Paper (undergraduate) from the year 2012 in the subject Business economics - Offline Marketing and Online Marketing, , language: English, abstract: Plings are decorative static clings for temporary, seasonal decoration of tableware. Plings is a word made up from combining ¿plastic¿ and ¿clings¿. Plings is also the name of the company, which is a subsidiary of I.Et.Al, Marketing and Design Company in Memphis, Tennessee. Plings were conceived, created and trademarked in 2009, and are offered for sale at Plings.com. Plings have also been offered for sale at several retail boutique stationery stores in the greater Memphis area. Plings can be ordered from the online web site, and orders are fulfilled by I.Et.Al employees from stock on hand.
Plings are packages of small, stylish seasonal and holiday decorations for everyday tableware. Plings can be placed on plates in place settings, used as wine charms, and to decorate cups and glasses. Plings can be removed and stored for future reuse, or discarded. Plings are in the introduction stage of product development and it is necessary to create and then increase customer awareness. Plings are uniquely situated to initially create and supply the market. The brand name is distinctive, catchy, fun sounding, and means what it is. These are all great features of a great brand name (Igor, 2012).
Each Plings pack contains sufficient product to minimally decorate eight two-piece place settings for about a dollar each, or four five-piece place settings for about two dollars each. The decision to set the price of a Plings pack at $8.95 places the product as a much less expensive alternative to specialized holiday tableware settings or as compared to purchasing disposable plates and cups. Consumer demand will grow as customers realize they can leverage the investment in their existing tableware. The product is appealing to home makers, caterers and party planners wanting to make a festive impact extending their existing stock of tableware. The viability of the product is currently limited by the lack of customer awareness. Promotion of Plings must be amplified to create and build customer awareness and guide them to the Plings web site to buy the product. Expansion of the existing web site should focus on means of leveraging social media to drive customer awareness.