MKTG 4700 Home Work (No more than 3 people can work on this together) You are th
ID: 417816 • Letter: M
Question
MKTG 4700 Home Work (No more than 3 people can work on this together) You are the marketing manager of a local Michigan firm that has developed a high-quality home self-brewing system that is small, easy to use and fits in a very small space. The product makes the equivalent of three six packs in about 48 hours. You are able to add ingredients and create a unique beer just like the larger and more complex operations at a fraction of the cost, space and inconvenience. The base product will retail for $750. There also is a deluxe version of product that sells for $999 that doubles the amount of beer that can be made and has a few other features giving the brewer more flexibility and creativity in the brewing process. In addition, you have for sale a large selection of the ingredients (hops, barley, etc) in appropriate size portions needed to brew the beer -this is where you are expecting to gain a significant profit margin. You have estimated that your company will be able to manufacture about 2000 total units this year. Do the following 1. Define a consumer target market- in detail (use all of the segmentation variables -demo, geo, ete). 2. Define a business market- use all three business segmentation variables. 3. What is the positioning strategy for the product? 4. Do the following: a.) develop 3 alternative names and slogans for the product b.) discuss the implications of each name (advantages and disadvantages c.) choose 1 name and 1 slogan- explain your choice. 5. Create a One-To-One strategy for your business customers Explain the information on you plan to collect on your customers Explain how you will gather this information Explain (dollars spent, number of products bought, ete) what a customer must do to be considered MVC status. Create a time frame in which these are measured (every month, six months, one year, etc) Be specific a. b. e. d. What "extra" benefits will you do to reward and make your MVC's feel special List and be specific-these are things that will create incentives for positive word- of-mouth and greater purchases in the future.Explanation / Answer
Marketing Strategy and Segmentation of a high-quality homemade self-brewing system:
1. The consumer target market will be as follows:
2. Business market has main segments namely, commercial, governments, institutions.
Our target would be B2B and B2C.
We would direct sell to big hotels, restaurants and in some cases corporate sale to big business houses for gifting to high profile clients on Christmas and New Year.
We would also recommend sale to airlines to meet their in-flight needs of business and first class customers on international flights.
These can be sold to car dealers and airport lounges for their prime guests who are waiting for their car servicing and flights.
3. The product has to be positioned as follows:
4.
A:
FREE FLOWING –Slogan “Drink and take anywhere”
Little Shot- Slogan “Shoot it with big”
MAGIC Brew- Slogan “Brew up the magic”
B:
C:
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