The first information I would need to evaluate this opportunity is how much money I have to invest, and who controls the the approval of transferring funds. If I am the sole source for decision making, I would create a staff and assign different sections to investigate and provide results of the following tasks:
• Check the pest control agency state by state and ask for the rodent (mouse/rat) population.
• Check prices of current mouse traps on the market.
• Check current sales of mouse traps state wide.
• Research stores for commitments of orders.
• Evaluate shipping costs, manufacture cost, and storage costs.
• Evaluate promotion costs.
Once the above information is presented to me, I weigh the cost benefits of each category and decide if the risk for investment is justified. Once I decide the risk is justified, I will prioritize the areas for cost consideration. Upon completion of cost consideration, I present the plan to board members or however needs to be briefed concerning the investment of funds.
B:
The mission statement goal will be to “Capitalize/Monopolize the mouse trap Industry” by providing the most economical and user friendly trap available to the consumer. .
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Decision-making is apart of our every day routine. Making the right or wrong decisions can have a significant impact on our careers, health, education and almost all aspects of life. Before devising a strategic course of action, wise managers evaluate the situation confronting them. Making the right decisions is the most important function of any business executive. Making the wrong decisions can ...
C:
My mission statement would provide all available data that would include the following:
• Sales data of sister companies
• Listing of stores who do and do not sale the traps
• Current sales trends by season
• Projected sale trends
• Forecast of commercial advertisement
• Projected surplus of sales
The data will be compared the all local selling traps and show the trends in sells. My mission statement will display the urgency to quickly saturate the market with literature depicting the superior quality of my trap, and the urgency to seek placement of the trap in all major supply outlets around the country.
I feel Martha has not identified the best target market. The chain of distributer she choose have limited locations around the country. For example, Hechingers is mostly an east coast corporation, where in the south it is not a well know name as Lowe’s is nation wide. This places limitations on market advertisement.
I would first focus on selling my trap to the largest and most competitive company in the world, and that would be WALMART! The meat industry/slaughter houses is an industry that invests large sums of money to prevent rodent infestation. The firm needs to provide free samples of the product, and follow up of surveys that vote on how effective the product operates.
The next large segment of target should be the farming industry. No large amount of corps can be taken from the growing stage to harvest without a proficient method to capture or control rodents.
The company targeted women. It utilized magazines such as “Good housekeeping” to advertise to the stay at home mom. They also sold traps to the local grocery stores, drug chains, and hardware stores such as, Safeway, Kmart, Hechingers.
The trap should be presented in multiple ways. This type of ability to capture and control rodents can be utilized by all sectors in the business world as well as residential. I would not gear it toward a certain gender; the trap would apply to every human being. First I would advertise the fact that no one likes to eat or live around rodents. Then I would present who safe, easy, and effective my trap is compared to all the others on the market.
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The marketing mix is not as broad as it could be. It is mainly targeted for women. The product is being sold through a limited amount of drug, food, and retail box stores. My market mix will have no discriminations in place. If you are home listening to your favorite news channel, during the commercial pause you will hear about my trap. The more publicity that can be presented to the public, the better the sales will be.
This is taken to account that I have a superior product, ans the performance will speak for itself.
I feel the competition is every other mouse trap in existence today. We want to prove we have the most economical trap available in the market today. Our claim to fame will be the ease of use and disposal. Once a small sector has received an opportunity to compare our trap to the competition, they will acknowledge our superiority of the product. We will take this display of satisfaction and use it to our advantage by advertising satisfied customer comments. When people can hear from their peers, most feel the research has been completed, now all they have to do is purchase the product for similar results.
I would make this a house hold product. My goal would be to make the trap as common as a kitchen sink. Make the consumer feel they are obligated to purchase a unit for cheap insurance against infestation. Show children placing the trap on a commercial, then returning a week later and disposing of the trap. Then the commercial would display who safe it is, no supervision needed for set up, and have Rex the cat running around safely with no rick of him ingesting any type of poison.
The media would display commercials depicting the family placing traps through out the household. This would be mandatory to prove ease and safety. Reading material will show the logo as a household name. Most every body knows what WD40 is. This product has grown to become a household name. No advertisement is currently being displayed, yet it’s sales stay consistent. This is the strategy I strive for to create a legend for my trap.
The #1 chain store (Walmart) would have a stand in the center isle as you entered the facility. Most people feel if a store such as Walmart is taking the space to present a product, it is worth their time to check it out. I would devote 25% of the total budget in the area of advertisement. Careful monitoring would dictate shifting of funds to the locations which proved the best sales. Once sales took off, I would cut back on advertisement and allow the product to sell itself from word of mouth. Friends telling and recommending other friends are the best form of advertisement, and the best part is it is free.
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