marketing plan phase II
Marketing Plan: Phase II The Toro Company has invented a new lawn mower. They call it “Scout”. Scout is capable of mowing 45,000 square feet of lawn. Scout has a rechargeable battery, to save on gas, and works around an invisible fence and sonar. Scout is a new lawn tool that every home with a yard full of grass needs. Toro, a respectable company, is known for its affordable and well made products.
Identify the segmentation criteria that will affect your target market selection Toro Chooses to segment the market as they believe they will provide better value and service to one or more segments than to mass market. The lawn equipment business is very competitive and Toro wants to grab as much of the market as possible. They also believe segmenting will be more profitable. Toro first has to develop its target market dimensions based on Exhibit four-seven Relation of Potential Target Market Dimensions to Marketing Strategy Decision Areas. Potential Target Market Dimensions Effects on Strategy Decision Areas:
1. “Behavioral needs, attitudes and how present and potential goods and services fit into customers’ consumption patterns. Affects Product (features, packaging, product line assortment, branding) and Promotion (what potential customers need and want to know about the firm’s offering, and what appeals should be used).”
2. “Urgency to get need satisfied and desire and willingness to seek information, compare and shop. Affects Place (how directly products are distributed from producer to customer, how extensively they are made available, and the level of service needed) and Price (how much potential customers are willing to pay).”
3. “Geographic location and other demographic characteristics of potential customers. Affects size of Target Markets (economic potential), Place (where products should be made available), and Promotion (where and to whom to target advertising and personal selling), “(Perreault, W. D., et.al, 2011, pg99, exhibit four and
Identify the segmentation criteria that will affect your target market selection Toro Chooses to segment the market as they believe they will provide better value and service to one or more segments than to mass market. The lawn equipment business is very competitive and Toro wants to grab as much of the market as possible. They also believe segmenting will be more profitable. Toro first has to develop its target market dimensions based on Exhibit four-seven Relation of Potential Target Market Dimensions to Marketing Strategy Decision Areas. Potential Target Market Dimensions Effects on Strategy Decision Areas:
1. “Behavioral needs, attitudes and how present and potential goods and services fit into customers’ consumption patterns. Affects Product (features, packaging, product line assortment, branding) and Promotion (what potential customers need and want to know about the firm’s offering, and what appeals should be used).”
2. “Urgency to get need satisfied and desire and willingness to seek information, compare and shop. Affects Place (how directly products are distributed from producer to customer, how extensively they are made available, and the level of service needed) and Price (how much potential customers are willing to pay).”
3. “Geographic location and other demographic characteristics of potential customers. Affects size of Target Markets (economic potential), Place (where products should be made available), and Promotion (where and to whom to target advertising and personal selling), “(Perreault, W. D., et.al, 2011, pg99, exhibit four and