FISHY BUSINESS
General outline of presentation
History, Products and services → (introduce 3 categories, talk about ornamental fish, markets served, focus on arowana), 4Ps for arowana, customer segmentation for arowana, Recent performance (drop in profits, focus on Arowana), PESTEL (focus on points that lead to fall in profits), Porter’s (focus on points that lead to fall in profits), SWOT (focus on points that lead to fall in profits), Recommendations , END.
What people are looking out for in our presentation, 5 main criteria:
1. Clearly identify the problems faced by Qian Hu
2. Come up with solutions to tackle the problem
3. Professionalism
4. Creative and innovative
5. Time management
Roles:
Edwin: Kenny Yap, Father Yap
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Ms Violet, our beautiful marketing lecturer, has taught us well and I think that we can help you identify some of the segmentation variables for the Arowana market! Overall, the customers can be segmented in terms of three bases - Geographical, Demographic and Behavioural. For geographical variables, the main target market would be the Asia Pacific region. This is because superstitions about fortune and luck are the most prevalent in their cultures.
Student B: And for demographic variables, we can segment the customers in terms of age group, income group and race. For age group, the main customers for Qian Hu’s Arowana are in Generation X. They are generally more superstitious and will be more interested in hobbies such as Arowana fish keeping.
For income group, the target market for Arowana would definitely be people in the higher income brackets. This is because the price of Arowana can range from a few hundred dollars to as high as thousands of dollars.
For race, I would think that the main target market for Arowana consists of Chinese. The Chinese find the Arowana auspicious and good for Feng Shui. Moreover, an Arowana is seen as a symbol of wealth, prosperity, strength and power for them.
Student A: For behavioural variables, the target customers seek increased wealth and good fortune. The Arowana is seen as a potent energiser of wealth, and people feel that the Arowana can multiply their sources of income,
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