Executive Summary/Company Overview

Executive Summary
The Billiard Bed is a revolutionizing, versatile, and multipurpose product designed to be used as more than merely a hobby. From a pool table to a bed this product exceeds all expectations. With a projected manufacturing cost of $669.00 dollars per unit sourced from Sears, the mattress being $220.00 for a full-sized and $449.00 for the table, the Billiard would be sold at the initial price of $849.99 with an estimated profit margin of 21.3%. Target focuses on design innovations to separate itself from competitors and provide its customers with products that benefit their lifestyle like the Billiard Bed. This amazing product consists of simple but also brilliant components that make life vastly more exciting. The Billiard Bed matches Targets mission statement perfectly Target stands out because of its strong supply chain and technological infrastructure, corporate culture, and innovative products and services. Due to Targets great reputation and great design similar to Targets mission statement perfectly Target stands out because of its strong supply chain and technological infrastructure, corporate culture, and innovative products and services. Due to Targets great reputation and great design similar to Targets mission statement the Billiard Bed is smart affordable and has a great design.

Company Overview
Incorporated in Minnesota in 1902, Target has become the largest discount chain in the United States. With more than 1,785, Target has incorporated the ideal of ritzy, yet more than affordable prices. Targets slogan Target stands out because of its strong supply chain and technological infrastructure, corporate culture, and innovative products and services. There has been a decline in home furnishing sales since; 2008; representing 18% in 2011 and 19% in 20120, as well as a decline in apparel and electronics. Target has persistently found multiple ways to reinvent it and these developments tend to pay off. In 2013 retail sales grew by 5%, representing the third consecutive year of relatively strong retail sales. Introduction of the Billiard Bed into Target would work perfectly with Targets commitment to trendy merchandise, fitting the new City Track format and could help boost the home furnishing sales.

Target Market Needs Assessment

The Billiard Bed will be targeted primarily towards the Millennial Generation, also known as Generation Y. This generation was born between the years of 1980 and 2000 and according to USA today this generation represents 27% of the U.S. population and more than $1.3 trillion in spending. Our main focus with the Billiard Bed will be towards the age groups of 18 to 29. Millennials within this age group have characteristics that very from all the other generations before them. This generation enjoys products that are customized and convenient to their likes and needs. They also enjoy shopping and furnishing and entertainment are some of those interests. Below are some of the demographics and psychographics focused on this group: Demographic for Primary Target Market Age: 18-39 Gender: Both male and female Education: None Ethnic: all Income: avg 45k-60k Marital Status: All

Psychographics for Primary Target Market Social Competitive Intelligent Relaxed Outgoing Shop-savvy

Competitor Analysis
500,000,000,000 450,000,000,000 400,000,000,000 350,000,000,000 300,000,000,000 2010 250,000,000,000 200,000,000,000 150,000,000,000 100,000,000,000 50,000,000,000 0 Target Walmart 2011 2012

Chart includes NET sales for Target and Walmarts estimated U.S. sales

Target
Targets home furnishings and dcor section make up 18% of their total annual sales. Target is widely known for having a vast variety of incompatible label brands, including many of which are designer collections. Target uses an amazing strategy in which great quality merchandise is sold at a low price.

Walmart
Walmart is known to have the lowest prices for retailing in America. Although, Walmarts home furnishing and dcor category only makes up 5% of their yearly NET sales. They have a home furnishings collection directed towards teen and college students called YourZone.

New Product Design Concept

The Billiard Bed is a unique product that presents great entertainment, home furnishing, and space saving opportunities. The Billiard bed is composed of multiple components used in different ways. Figure 1 Bed Figure 2 Open Axel For Easy Flip Figure 3 Pool Table Figure 4 Disassembled

The Billiard Bed is a multi-functional product that can be produced in several materials depending on the consumer and usage: Rose Wood Acrylic or recycled plastic for eco-friendly consumers Steel for long lasting use

The Billiard Bed has many key attributes: Multi-functional Space Saving Easily Assembled Entertaining and Exciting Compact

Target Market Trends

Smaller Living Spaces
Since our economies debt has been fluctuating since the Great Depression, many millennial find it rather unchallenging to become accustom to small living spaces. According to a study by social media today, millennias lifestyle mainly depend on being on track to be educated and to achieve American history. This means millennial will be accustomed to living in smaller spaces due to college dorming or simply living at home until one finishes their education.

Competition
Competition is a key attribute for many millennial. Many of them desire competition because of their drive to the best in life. Recent studies have shown that 57% of millennial wish for freebees and competition. A common game that millennial are accustomed to playing due to its high sense of competition is pool. This game allows them to be competitive and reach that drive to be the best. When one is competing their peers it often makes them feel superior. From this gain of superiority, pool is very attractive to the players and their competitors.

Motivated by Trends
Millennial often feel superior when one has the savviest things in todays society. Often motivated by todays trends, fashion and design, this group is consumed by the image of the product. The design imprints ones social status which is very important in the millennial society. Trends are set by the people that wear or use the hottest and newest things made. Surrounded by these people and by these new objects, triggers the sense of want in many other consumers which then stimulates the rest of the chain.

Plan
June July August Sept Oct November December Jan Feb March April May Rollout of at Target Super Stores Valentines Promotion Continue on E-Commerce Black Friday Advertisement Introducing Winter/Christmas dcor Back to School Promotion Fall Advertisement/ Release Fall Colors Available on Target.com and Target App

Strategy; Online advertising, twitter, and Instagram to appeal to young demographic Promotion in weekly advertisement in Ready For Summer Holiday promotions with new dcor Launch Phases of Finishes Launch in regular sheets and design in May to get target consumers ready for a relaxing summer Introducing seasonal colors or add ons to go with the festivities

Conclusion
The billiard bed offers consumers much more than different use opportunities. It also offers them I lifestyle in which comfort and competition clash. This generation not only represents 27% of the U.S population and more than 1.3 trillion dollars in annual buying power, according barrons.com, but they also enjoy products that accustom to their needs by drawing in millennias with the billiard bed, Targets consumer demography will sky rocket and increase sales for their home and furnishing dcor section. Targets clever strategies and tactics will draw customers so that Walmart will seem as if it were a family owned business. The marketing strategy has more than a few ways of innovating this product so that the consumers may adjust it to the changing of seasons. In order to truly profit with this product, the billiard bed will be distributed to where well known colleges are located. Starting with an inventory 24 units per store, The Billiard Bed will be sold at the initial price of $849.99 dollars. This will provide an annual sales average of approximately $5million which will boost up sales in the home furnishing category. Expecting more and paying less. The Billiard Bed gives a new approach to comfort and the Target experience.

Appendix

Perspective

Work Cited
"Millennials in Adulthood." Pew Research Centers Social Demographic Trends Project RSS. N.p., n.d. Web. 22 Apr. 2014. "Walmart Corporate - Walmart Annual Reports." Walmart Corporate - Walmart Annual Reports. N.p., n.d. Web. 22 Apr. 2014. "Education." Study: Millennial Generation More Educated, Less Employed. N.p., n.d. Web. 23 Apr. 2014. "Financial Highlights: Target 2012 Annual Report |Target Corporate." Financial Highlights: Target 2012 Annual Report |Target Corporate. N.p., n.d. Web. 23 Apr. 2014.