At a branch meeting, managers of each unit are discussing a number of issues. Yo

Question

At a branch meeting, managers of each unit are discussing a number of issues. You are the Marketing Manager for knitted sweaters. Using Figure 2-15 on page 57 of Roger Best as a guide, what do you say to the entire team if: * The market share for knitted sweaters increase to 5%. * The average selling price per unit for knitted sweaters drops to $125 dollars. *Marketing and Sales expenses will need to increase to a total of 3.5 million for knitted sweaters Include a screen capture of your analysis in you the WORD document you submit to me. Address the following: 4a. For knitted sweaters specifically, should this strategy be adopted, why or why not? (5pts) 4b. Address various metrics that you should discuss with everyone at the table regarding the entire Santa Fe Sportswear product line. Make a case as if you were the VP of Marketing across all product lines. (5pts) Must include a screen capture of the Best decision tool to obtain any points for Q4.

Explanation / Answer

4. For increasing market share and selling price of products propotionate with other factors, we should follow pricing mathods. For this stage we can follo markup pricing and ratio pricing is very much importent. Market share should increase 5%. But selling price we need to moderate because it is the factor to buy the product.

Marketing strategy :

First we nned to identify the customer and segmentation oriented division marking. It is very much well know factor to build a great market share. Then we need to focus on SWOT analysis. We must figure out strength and weakness and oppertunity. It will help us to make business plan accordingly. We should know outr competitors hence we can prepare plan behind that. Now market have a very tough competition so that swot will help us to identify market scenario very prominant way. Marketing network should be very much strong to build a good and healthy relationship here.

Product mix is importent: We need to follow 4ps of marketing

Product,place,promotion and price.

For the product we need to check market share with different segement wise. TI is very much common to find the segment oriented marketing. Place is also very much importent part of any product launch. For hte promotion we should expenses more in Advertisement like social media facebook,instagram etc, For video ad like youtube and television. It is very much crutial stage to point our Ad words and pitch of ad. Sound and quality of ingrdients is also importent part here. For the pricing category, we need to follow penetration base pricing to enter into market smooth way. penetration pricing is we need to reduce price then capture the market then we will increa price accordingly. For increas market share this is very importent part here.

For events should be launched in crwded areas like mall, shopping complex etc. it will help to engage customer directly to the products.

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