Marketing Analysis for the Sonic 1000 Pda
Marketing Analysis for the Sonic 1000 PDA
Liberty University
Strategic Marketing Management – BUSI 520-B06
July 4, 2010
Introduction Years of research and development, along with millions of shareholder dollars, have been invested in the latest technological breakthrough from Sonic. The next step for any new product on the concept-to-consumer road is the development of a marketing analysis. The following pages will provide evidence of countless hours of research the marketing team has compiled in an effort to provide the best answers to questions that will prove vital in the marketing and sales of the Sonic 1000.
Contained in this analysis is a recommendation as to the content and structure of Sonic’s mission statement, complete with a detailed explanation of the reasons behind the recommendation. The marketing team will utilize one of Dr. Michael Porter’s generic strategies in an effort to pave the way for Sonic to build a competitive advantage. Sonic’s target market will be defined and the needs met by the Sonic 1000 in that target market will be demonstrated.
In a section focusing on the market environment, several key considerations affecting the product will be presented, including demographic and economic trends as well as technological changes. The consumer market will then be analyzed in an effort to help explain the motivations and behaviors of consumers in the market for a Personal Data Assistant (PDA). Next, the competition will be analyzed in an effort to dissect Sonic’s strategic group by identifying the market leader and understanding its strengths and weaknesses. Using this information, a competitive strategy will be formulated that will yield the most effective entrance into the market.
Market segments into which Sonic will reach in an effort to grow its customer base will be the next evaluation. The team will recommend the best strategy for Sonic’s pursuit of market share, which will help the company determine whether to
Liberty University
Strategic Marketing Management – BUSI 520-B06
July 4, 2010
Introduction Years of research and development, along with millions of shareholder dollars, have been invested in the latest technological breakthrough from Sonic. The next step for any new product on the concept-to-consumer road is the development of a marketing analysis. The following pages will provide evidence of countless hours of research the marketing team has compiled in an effort to provide the best answers to questions that will prove vital in the marketing and sales of the Sonic 1000.
Contained in this analysis is a recommendation as to the content and structure of Sonic’s mission statement, complete with a detailed explanation of the reasons behind the recommendation. The marketing team will utilize one of Dr. Michael Porter’s generic strategies in an effort to pave the way for Sonic to build a competitive advantage. Sonic’s target market will be defined and the needs met by the Sonic 1000 in that target market will be demonstrated.
In a section focusing on the market environment, several key considerations affecting the product will be presented, including demographic and economic trends as well as technological changes. The consumer market will then be analyzed in an effort to help explain the motivations and behaviors of consumers in the market for a Personal Data Assistant (PDA). Next, the competition will be analyzed in an effort to dissect Sonic’s strategic group by identifying the market leader and understanding its strengths and weaknesses. Using this information, a competitive strategy will be formulated that will yield the most effective entrance into the market.
Market segments into which Sonic will reach in an effort to grow its customer base will be the next evaluation. The team will recommend the best strategy for Sonic’s pursuit of market share, which will help the company determine whether to
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