09/08/2011 SITUATION ANALYSIS/ TARGET MARKET IDENTIFICATION Curtin College Ms. Desiree Jones Trimester 2‚ 2011 Situation Analysis/ Target Market Identification SITUATION ANALYSIS/ TARGET MARKET IDENTIFICATION 1.0 Situation Analysis/ Current marketing Mix 1.1 Current Product A rnott‟s Tiny Teddy is a brand of sweet biscuits which has children aged between 3 – 7 years old as a primary focus market (Ryan 2002). Each biscuit is small in size and formed as a tiny bear which kids
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strategy. Each P is interrelated to all other P’s Marketing Success = desirable product + acceptable price + effective promotion + right place These four P’s of marketing mix are a very important part of every business in attracting and keeping target markets satisfied where: • A good product is the key to marketing success. While all other elements of marketing mix must work together for the overall success of a company‚ the product is essential for the marketing mix to be able to be used. • The
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characteristics are as follows: Gender: The car is for the family‚ so gender is immaterial here. But generally‚ the male person of the house is the influencer and the decider of the purchase‚ thus the Ad has to be made considering him as the target market Age: 25-40 years Income: Rs. 3- 5 Lakhs per annum for the family Education: Graduate Occupation: Lower level Executive in any organisation Social class: middle class‚ upper middle class Geography : Tier 1‚ 2 and 3 cities in
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without the difference being recognizable. ∙•••••••• To have tie ups with Publishing Houses across the country and have magazines printed on recycled paper. Research : 1. Client or organization: Tree huggers. Recycle Education. An organization started of by a group of software techies with a heart for nature. Tree huggers as the name brutally suggests is a platform for nature loving individuals to share business ideas‚ bright insights and all those ’aha!’ moments with people who feel for mother nature too
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build a small plant or a large one to manufacture a new product with an expected market life of ten years. The decision hinges on what size the market for the product will be. Possibly demand will be high during the initial two years but‚ if many initial users find the product unsatisfactory‚ will fall to a low level thereafter. Or high initial demand might indicate the possibility of a sustained high-volume market. If demand is high and the company does not expand within the first two years‚ competitive
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objective and strategy tree analysis is one participatory tool of mapping out main problems‚ along with their causes and effects‚ supporting project planners to identify clear and manageable goals and the strategy of how to achieve them. There are three stages in this analytic process: (1) the identification of the negative aspects of an existing situation with their “causes and effects” in a problem tree‚ (2) the inversion of the problems into objectives leading into an objective tree‚ and (3) the decision
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Decision Tree Analysis Choosing Between Options by Projecting Likely Outcomes Decision Trees are useful tools for helping you to choose between several courses of action. They provide a highly effective structure within which you can explore options‚ and investigate the possible outcomes of choosing those options. They also help you to form a balanced picture of the risks and rewards associated with each possible course of action. This makes them particularly useful for choosing between different
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as I will explain later on in this write-up. When creating the decision tree I started with entering the existing data. By analyzing the data in a first view you can directly see that the first and last name does not have any influence on the loan grant respectively the loan amount‚ which seems to be self-explaining. It makes sense to start with the node with the highest number of different characteristics. This way the tree will become clearer. That’s why I started with the distinction of the age
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Target Costing on Mercedez – Benz Mercedes-Benz (MB) is one of the world ’s most successful car manufacturers since its establishment in 1886. They used target costing in the design and production of one of its products‚ the M-Class‚ which is a new sports utility vehicle model‚ in response to their first time suffering loss in 1993 because of cost inefficiency and problems with material purchasing and adapting to market changes. MB started developing a range of new products such as the C-Class
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Target Marketing Target marketing is one of the best ways to appeal to the wants and needs of a certain group of people. Most marketers know the popular principle “20 percent of buyers consume 80 percent of product volume." However‚ the really hard part is to find that 20 percent of buyers that are willing to buy our products and market to them specifically. What makes it hard to find the right target market is the fact that there are many market segments out there. There are demographic segments
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