MKT205 7-2 Project

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Southern New Hampshire University *

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205

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Marketing

Date

Jan 9, 2024

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docx

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8

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1 MKT 205 Project Alana Danielle Aldridge Southern New Hampshire University MKT 205: Applied Marketing Strategies Kristen Beach October 15, 2023
2 PRODUCT Gourmet truffles with fruit, herb, and flower extract infusions PERSONA Sarah, 40 DEMOGRAPHICS Location: This persona is in a more northern Midwest area in a suburban neighborhood. Think of a home that you would see in an early 2000s sitcom. Marital Status: This persona is most likely to be married with around 2 to 3 children with ages between 9 to 17 years old. Occupation and Income: This persona is likely a stay-at-home mom or works from home. The household income is probably around $100k/per year. Education Level: The average education level is between high school and college graduate. PSYCHOGRAPHICS Hobbies and Interests: This persona likes to travel and enjoys nights in with the family while also having a night out with friends. This persona is likely part of a neighborhood group or has a strong connection with friends. Wants and Preferences: They want something small and shareable while also having something that tastes amazing. They want to try something new every so often just to see if they find a new flavor that they like. They also don't like the chocolates that are mass-produced. Personal and Professional Goals: This person wants to be a good parent and strives to be their best at their job while staying on the go. Shopping Habits and Preferences: This person shops at the local supermarket a few times a week to have fresh ingredients and chooses a brand they can trust.
3 Lifestyle: This person is family-oriented, travels with their children, and participates in group activities. They usually go on a few family trips to the mountains and to the beach throughout the year based on the season. PROMOTION FIRST MARKETING CHANNEL Description of first marketing channel: My first marketing communication channel is through social media. This marketing channel is to target the younger generation between the ages of 25-39. This will be accomplished through ads and promotional videos. Why this channel is appropriate for this persona: This is an appropriate communication channel because the persona is around the age of social media use and influence. The promotion of this product to this persona can be achieved by her casually scrolling through social media throughout the day. This can also be something that is sent from one friend to another. SECOND MARKETING CHANNEL Description of second marketing channel: My second marketing communication channel is through television. This would be a commercial that encompasses the persona while they are going through their everyday life. During their day, they take the time to show that the persona is enjoying a delectable gourmet truffle that is new and full of flavor. Why this channel is appropriate for this persona: This would also be an appropriate communication channel because the persona is around the same age as the people who would normally watch television. This is also a relevant form of marketing because most of the people who watch television with commercials are around a certain age, and income level, with children. This could prove to be effective because it will show people their age enjoying a sweet treat. PRICE PRICING FACTOR: TARGET-MARKET PRICE SENSITIVITY Target-market price sensitivity: Chocolate is largely price inelastic. The demand for chocolate compared to the global cocoa supply causes the price for chocolate to remain largely inelastic. So, the pricing of this product is important not only in making it marketable but also in sustaining the price to manufacture it. Understanding and knowing what your competitors are
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