MKT205_Project
.docx
keyboard_arrow_up
School
Southern New Hampshire University *
*We aren’t endorsed by this school
Course
205
Subject
Marketing
Date
Apr 3, 2024
Type
docx
Pages
7
Uploaded by ConstableMolePerson6010
1
MKT 205 Project
Jonna Walker Southern New Hampshire University
MKT 205: Applied Marketing Strategies
Anitra Lemond Evans
October 16, 2022
2
PRODUCT
gourmet truffles with fruit, herb, and flower extract infusions
PERSONA
for the love of chocolate, 60 & up
DEMOGRAPHICS
Location:
Thriving upscale cities, townhouses, owned houses Beverly Hills, CA 90210
Marital Status:
Married, any number of children who are 18 years and up
Occupation and Income:
professional occupation or retired, $100k and up annually
Education Level:
I think these gourment truffles would work best for those who are collage graduates and master graduates
PSYCHOGRAPHICS
Hobbies and Interests:
country clubs, book clubs, loves traveling and trying new things, enjoys cocktails and fine wines, puts together charcuterie boards
Wants and Preferences:
wants a simple yet complex kind of chocolate to indulge in, new kinds of chocolates, chocolates infused with different or odd ingedients
Personal and Professional Goals:
personal goals are to travel more, enjoying the little things in life and indulge in somwthing sweet every once in a while. professional goals are to retire and enjoy life
Shopping Habits and Preferences:
Shops in high-end boutiques, upscale department stores, online shopping, social media product browsing
Lifestyle:
Prefers to travel around the world on off-times and visits wineries also loves relaxing at home in the company of old friends and family. Indugles in chocolate as a guilty pleassure.
PROMOTION
FIRST MARKETING CHANNEL
3
Description of first marketing channel: My first marketing communication channel would be more traditional prints to fit the older generation. Magazines specifically Women's Health Magazines would be perfect to advertise the product in because it already features things such as foods and nutrients. Being that is is a gourmet chocolate truffle, I think this would be the best place given my target market.
Why this channel is appropriate for this persona: My communication channel of choice is appropriate for my target market becaue Women's Health and other magazines like it are intentionally bought or subscribed by older women for their food, nutrient, health, and beauty tips. It is also frequently bought by older women for these reasons. It also has a website that is updated frequently where the ad will also be on display for women who chose to browse the magazine online, instead.
SECOND MARKETING CHANNEL
Description of second marketing channel: My second marketing communication channel choice is social media. Social media is widely used by a lot of people, but is growing in popularity amounst older generations now, too. Older women have the time to browse on social media for products without having to leave the comforts of home making this the next best place to advertise the product.
Why this channel is appropriate for this persona: With social media growing in popularity amounst the older generation, I feel it would be appropriate to choose this as a secondary source on communication. With having the product on social media, you can link your website, reach out to customers, get real time reviews, and connect with your customers on a more personal level. You are also able to ask customers what they would like to see next within the business via social media. Older women are more likely to put more time into responding to these posts and share your posts to let others know about your products too.
PRICE
PRICING FACTOR: TARGET-MARKET PRICE SENSITIVITY
Target-market price sensitivity: The target-market price sensitivity factor means that the target
market can vary in two ways. One way being their available budget to buy the product you offer
and the other way being their desire to get a good deal or buy a more luxurious product. Being that the product is a "luxury" (gourmet) chocolate truffle, they should expect to pay more for the product than they would a regular chocolate product. The price would reflect on the quality
of the product so offering it at a higher price is reasonable.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
Please answer all
arrow_forward
Question 1 – In 1993, McDonalds opened the first of its chain of McCafé coffee houses in
Melbourne Australia. Since then, the chain has spread throughout the world with roughly
1,300 cafes worldwide. After further reading, provide the following: First, identify who you
believe to be the target customer segment and customer need. Second, describe an
appropriate marketing strategy (product, price, distribution, and promotion) for this offering.
Target Market –
Customer Need/Problem –
Product –
Price –
Distribution –
Promotion –
NOTE:
-no chatgpt answers
-no plagiarism should be found
-subject : business
arrow_forward
Q1 Define Law?
arrow_forward
Down market stretch explain.example: Xerox has long dominated the medium and large copier segments, by the late 1980’s, the small copier segment was growing at a much faster rate. Canon, Sharp and other Japanese competitors had entered the low-end segment, where they quickly dominated. Moreover, these competitors used their success at the low-end as a base for competing with Xerox in the mind size copier segment. Thus, to meet shifts in the market demand, Xerox introduced a line of small copiers.
arrow_forward
Question 8
In Monopolistic Competition, sellers try to develop differentiated offers for different customer segments.
O True
O False
Moving to another question will save this response.
TOSHIBA
A
F7
NAA
F8
44
arrow_forward
7.
Question content area left
Part 1
Leah Johnson, director of Urgent Care of Brookline, wants to increase capacity to provide low-cost flu shots but must decide whether to do so by hiring another full-time nurse or by using part-time nurses. The table below shows the expected costs of the two options for three possible demand levels:
States of Nature (demand)
Alternatives
Low
Medium
High
Hire full−time
$300
$480
$680
Hire part−time
$0
$340
$1,200
Probabilities
0.20
0.55
0.25
Part 2
a) The alternative with the least expected cost is
▼
a. Hire full-time
b. Hire part-time
The expected cost of this alternative is
$ ______
(enter your answer as a whole number).
.
arrow_forward
This question is related to the STP process: Segmentation, targeting and positioning.Q.1 Explain the terms Segmentation, targeting and positioning.
Q 2 Briefly describe the following in relation to Mr Price clothing:• Describe two demographic variables used by Mr Price clothing.• Describe the targeting strategy approach by Mr Price clothing• Describe the positioning method adopted by Mr Price clothing.
arrow_forward
Engineering Management questionWhat may be used as aids in planning
arrow_forward
QUESTION 2 (Part)
Marie from question 1 expected to have a substantial income tax liability for the 2023 income year and shortly before 30 June 2023 wanted to adopt some tax planning strategies to reduce that liability. She considered the following two suggestions.
...
The second alternative suggestion was a “tax effective” investment scheme that Marie heard about at a city wine bar that was a “certainty” to reduce her income tax liability. The investment was marketed by a brochure that highlighted its tax advantages and was widely
promoted by a cattle investment company. It involves a cattle breeding program under which an investor agrees to lease from the cattle investment company some cows for breeding purposes and pays leasing fees for this, and then makes income from the sale of bred cattle.
The initial lease period is two years during which the investor engages a cattle management company to manage the cows for breeding purposes and pays management fees for these services. An…
arrow_forward
Q.1: How forecasting helps in different disciplines of management science? Make a comparison between quantitative forecasting versus qualitative forecasting
arrow_forward
D & R A1 2 -1
Question 2. Contango and Backwardation
Define and contrast contango and normal contango.
arrow_forward
QUESTION 3
Discuss three main benefits to create a Business Plan.
TTTT Paragraph
Arial
3 (12pt)
ST T, S
fr Mashups
arrow_forward
Question 1.
The table below shows the sales figure for a brand of shoe over the last 12 months.
Months
Sales
January
69
February
75
March
86
April
92
May
95
June
100
July
108
August
115
September
125
October
131
November
140
December
150
a. Using the following, forecast the sales for the months up to january the following year:-
i. A simple three month moving average
ii. A three period weighted moving average using weights of 1, 2, and 3. Assign the highest weight to the most recent data
iii. Exponential smothing when α = .6 and the forecast for march is 350
vi. Detemine which of the three forecasting technique is the most accurate using MAD
N.B. Only answer IV
arrow_forward
Question 4
The below data represent the advertising expenditure and sales of Little Liu Ltd from year 2008 to 2017.
Table: Advertising Expenditure vs. Sales from 2008 to 2017
Year
Advert. Expenditure
Sales
(x, £000)
(y, £000)
2008
8
30
2009
12
40
2010
11
29
2011
5
29
2012
14
43
2013
3
17
2014
6
20
2015
8
30
2016
4
22
2017
9
40
Total
80
300
Work out the values of parameters of the relationship shown in the Figure (i.e. work out the equation of the relationship).
arrow_forward
Ch. 7 Q8
arrow_forward
Show your complete solution for A, B, and C.
arrow_forward
Question 10
Explain the meaning of Segmentation in space market?
and why this market is highly segmented?
Use the editor to format your answer
arrow_forward
QUESTION 1
The table below shows the sales figures for a brand of shoe over the last 12 months. Months Sales January 69 February 75 March 86 April 92 May 95 June 100 July 108 August 115 September 125 October 131 November 140 December 150
a. Using the following, forecast the sales for the months up to January the following year:-
i. A simple three month moving average. [2 marks]
ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data. [3 marks]
iii. Exponential Smoothing when α= .6 and the forecast for March is 350. [5 marks]
iv. Determine which of the three forecasting technique is the most accurate using MAD. [4 marks]
arrow_forward
Please find attached question
arrow_forward
Q3. Write thesis statements for the following three general subjects.
1 - Diminishing cultural values
2 - Social networking sites
3 - Brands
arrow_forward
Student Portal | Main
BUS-660 Topic 1 DQ 1
/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false
eBook
X
X
State of Nature
Decision Alternative Strong Demand S₁ Weak Demand S₂
Small complex, d₁
7
6
Medium complex, d₂
12
6
Large complex, d3
19
-9
CengageNOWv2 | Online teachin X MindTap-Cengage Learning
Problem 4-11 (Algorithmic)
Following is the payoff table for the Pittsburgh Development Corporation (PDC) Condominium Project. Amounts are in millions of dollars.
x +
A
million, the large complex remains the best decision.
30 G
Suppose PDC is optimistic about the potential for the luxury high-rise condominium complex and that this optimism leads to an initial subjective probability assessment of 0.8 that demand will be strong (S₁) and a corresponding probability of
0.2 that demand will be weak (S₂). Assume the decision alternative to build the large condominium complex was found to be optimal using the expected value approach. Also, a…
arrow_forward
research findings and conclusion on the effect of rising food prices on low income household in Brown's Town
arrow_forward
QUESTION 1
The table below shows the sales figures for a brand of shoe over the last 12 months.
Months
January
February
March
April
May
June
July
Sales
69
75
86
92
95
100
108
115
125
131
140
150
August
September
October
November
December
a. Using the following, forecast the sales for the months up to January the following year:-
i. A simple three month moving average.
ii.
A three period weighted moving average using weights of 1, 2 and 3. Assign the
highest weight to the most recent data.
iii. Exponential Smoothing when a= .6 and the forecast for March is 350.
iv. Determine which of the three forecasting technique is the most accurate using
MAD.
arrow_forward
Q The manager of a fast food restaurant featuring hamburgers is adding salads to the menu. For each of the two new options, the price to the customer will be the same. The MAKE option is to install a salad bar stocked with vegetables, fruits and toppings and let the customer assemble the salad. The salad bar would have to be leased and a part-time employee hired. The manager estimates the fixed cost at $12000 and variable costs totalling $1.5 per salad. The BUY option is to have pre-assembled salads available for sale. They would be purchased from a local supplier at $2 per salad. However, offering pre-assembled salads would require installation and operation of additional refrigeration, with fixed annual cost of $2400.
What is the rational decision if A) the manager expects to sell 25000 salads per year and B) the manager expects to sell 18000 salads
arrow_forward
Question 3
A NASA manager testified to the Rogers Commission that they hoped the backup O-ring on Challenger's solid rocket boosters would be the sealing O-ring under the worst case conditions. This is an illustration of which Irving point:
Group of answer choices
A) Shared illusion of unity
B) The illusion of invulnerability
C) Stereotyped views of others
D) Having a moderately cohesive group
arrow_forward
Question 2.
Calculate using the table below:
+
a.
b.
C.
d.
Calculate simple average for the entire sales.
Calculate 3-months moving average.
Calculate 3-months centered moving average
Calculate sales forecast for the month of July.
Month
JAN
FEB
MAR
APR
MAY
JUN
JUL
Sales
4900
5000
5500
5200
5100
5600
Simple Moving
Average n=3
Centered Moving
Average n=3
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Related Questions
- Please answer allarrow_forwardQuestion 1 – In 1993, McDonalds opened the first of its chain of McCafé coffee houses in Melbourne Australia. Since then, the chain has spread throughout the world with roughly 1,300 cafes worldwide. After further reading, provide the following: First, identify who you believe to be the target customer segment and customer need. Second, describe an appropriate marketing strategy (product, price, distribution, and promotion) for this offering. Target Market – Customer Need/Problem – Product – Price – Distribution – Promotion – NOTE: -no chatgpt answers -no plagiarism should be found -subject : businessarrow_forwardQ1 Define Law?arrow_forward
- Down market stretch explain.example: Xerox has long dominated the medium and large copier segments, by the late 1980’s, the small copier segment was growing at a much faster rate. Canon, Sharp and other Japanese competitors had entered the low-end segment, where they quickly dominated. Moreover, these competitors used their success at the low-end as a base for competing with Xerox in the mind size copier segment. Thus, to meet shifts in the market demand, Xerox introduced a line of small copiers.arrow_forwardQuestion 8 In Monopolistic Competition, sellers try to develop differentiated offers for different customer segments. O True O False Moving to another question will save this response. TOSHIBA A F7 NAA F8 44arrow_forward7. Question content area left Part 1 Leah Johnson, director of Urgent Care of Brookline, wants to increase capacity to provide low-cost flu shots but must decide whether to do so by hiring another full-time nurse or by using part-time nurses. The table below shows the expected costs of the two options for three possible demand levels: States of Nature (demand) Alternatives Low Medium High Hire full−time $300 $480 $680 Hire part−time $0 $340 $1,200 Probabilities 0.20 0.55 0.25 Part 2 a) The alternative with the least expected cost is ▼ a. Hire full-time b. Hire part-time The expected cost of this alternative is $ ______ (enter your answer as a whole number). .arrow_forward
- This question is related to the STP process: Segmentation, targeting and positioning.Q.1 Explain the terms Segmentation, targeting and positioning. Q 2 Briefly describe the following in relation to Mr Price clothing:• Describe two demographic variables used by Mr Price clothing.• Describe the targeting strategy approach by Mr Price clothing• Describe the positioning method adopted by Mr Price clothing.arrow_forwardEngineering Management questionWhat may be used as aids in planningarrow_forwardQUESTION 2 (Part) Marie from question 1 expected to have a substantial income tax liability for the 2023 income year and shortly before 30 June 2023 wanted to adopt some tax planning strategies to reduce that liability. She considered the following two suggestions. ... The second alternative suggestion was a “tax effective” investment scheme that Marie heard about at a city wine bar that was a “certainty” to reduce her income tax liability. The investment was marketed by a brochure that highlighted its tax advantages and was widely promoted by a cattle investment company. It involves a cattle breeding program under which an investor agrees to lease from the cattle investment company some cows for breeding purposes and pays leasing fees for this, and then makes income from the sale of bred cattle. The initial lease period is two years during which the investor engages a cattle management company to manage the cows for breeding purposes and pays management fees for these services. An…arrow_forward
- Q.1: How forecasting helps in different disciplines of management science? Make a comparison between quantitative forecasting versus qualitative forecastingarrow_forwardD & R A1 2 -1 Question 2. Contango and Backwardation Define and contrast contango and normal contango.arrow_forwardQUESTION 3 Discuss three main benefits to create a Business Plan. TTTT Paragraph Arial 3 (12pt) ST T, S fr Mashupsarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning