MKT205_Project

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School

Southern New Hampshire University *

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Course

205

Subject

Marketing

Date

Jan 9, 2024

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docx

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6

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1 MKT 205 Project Kaneshia Wesley Southern New Hampshire University MKT 205: Applied Marketing Strategies Cheryl Hemric December 7, 2023
2 PRODUCT semisweet chocolate baking chips PERSONA Shelly , 37 DEMOGRAPHICS Location: a single family home in a rural town Red Oak, Tx Marital Status: My persona's name is Shelly. She is 37 married with four children ages 12 to 2. Occupation and Income: She works as a Paralegal. She makes 46k annually. Education Level: Shelly's has graduated from high school and earned her associates certificate. PSYCHOGRAPHICS Hobbies and Interests: She tries to keep the family active by either school or sports functions. Wants and Preferences: Attempting to keep up with the kids appetite as well as provide healthy options. Personal and Professional Goals: Maintain her family's lifestyle and to pursue a career with upward mobility. Shopping Habits and Preferences: The goal is healthy but affordable. So the focus is to obtain these deals through couponing. And stores like Ross offer great deals for large families. She also does a little online shopping using her Iphone and occasionally bulk shops at Costco. Lifestyle: A ton of outdoor activities like rock climbing and put put golf to keep the family engaged. PROMOTION FIRST MARKETING CHANNEL Description of first marketing channel: The first communication channel would be through a digital communication channel by posting pictures and videos to social media. This is where she
3 would gain attention and showcase her products and offer various uses. This information would be widely spread depending on her amount of followers. Why this channel is appropriate for this persona: Each of these channels offer effective strategies to get her product marketing. Millennials look at social media a lot. It is looked at to gain an idea for dinner and how to instructions. And millennials also like to give their opinion about a popular product. So the use of social media allows for more than just the people in your community to have knowledge about her product. SECOND MARKETING CHANNEL Description of second marketing channel: The second would be a more traditional approach with in person interactions. It would show people in her social circle the product she uses. And offer the opportunity to taste test the product. And decide if they like it or not. Why this channel is appropriate for this persona: Her community is the closest market. Although on social media there are a variety of people selling or talking about different products. Her community would be her first customer base that would allow her to use a different approach from social media. The community would be a bit more hands on. PRICE PRICING FACTOR: COMPETITOR PRICING Competitor pricing: The pricing factor in competitor pricing is based on competition rather than watching the production costs. When pricing my product I have to keep in mind that competitors can drive my prices. But, with their products already being priced. I have the advantage of pricing higher or lower than the competition. Consumers like quality products at a value. competitor pricing allows me to figure out how my product will fit into the target market. How pricing factor is used to determine pricing: When pricing my product I have to keep in mind that the goal is to price against my competitors. Staying in a more affordable range to stay in competition with my competitors. Ensuring that my target market feels like they are getting a better deal for their money. After noticing a decrease in sales I will then alter my products to a lower price point to keep my target market. PRICING STRATEGY: PENETRATION General advantages and drawbacks of penetration pricing strategy: The Advantages would be a quick customer base, an elimination of other competitors, efficiency, and market sharing.
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