Sonic 1000 Pda Marketing Analysis

Forecasting is part of a company’s future planning as it attempts to estimate future demand for its product or services. Forecasting is usually measured in specific time periods (months, weeks, etc), given a desired level of accuracy, and assigned a unit of forecasting (sales in units or dollars) (Download Reports 2011). PepsiCo bases its sales forecasts on two main factors: changes in consumer tastes, particularly the rise health consciousness among consumers; and how legal regulations may impact operations, such more federal and local laws

Company G is introducing one of our best products ever. Our new product, the JAM Classic Boombox, will allow our

Every company and/or organization starts and operates to achieve a single major goal, which is normally included in the company’s mission statement. Setting a goal, however, does not translate into success on its own; it is only the fist step. Understanding market segmentation is the second most important aspect of doing business. “Sellers and advertisers want to be able to determine what the potential market is for their product or service, as well as the best ways to reach potential consumers” (Terrell, 2013). Once a goal is set, an organization first must decide if it wants to operate locally, regionally, nationally, and/or internationally, as the size of the geographic coverage has a large

Forecasting is the methodology utilized in the translation of past experiences in an estimation of the future. The German market presents challenges for forecasting techniques especially for its retail segment. Commercially oriented organizations are used to help during forecasting as general works done by academic scientists are not easy to come across (Bonner, 2009).

Note: An educated guess can be made that there is an overlap between the 3 target segments. This is a positive from the point of view that we can focus our attention on a niche segment that is affluent, well-informed, health conscious and highly likely to remain loyal.

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

Table Of Contents 1.0 2.0 3.0 Introduction Executive Summary Situation Analysis 3.1 Identification Of The Problem 3.2 Market Analysis 3.3 SWOT Analysis 3.4 Target Market Marketing Communication Strategy 4.1 Marketing Communication Plan/Objectives 4.2 Marketing Budget 4.3 Schedule for Key Marketing Communication Activities 4.4 Promotional Strategies 4.4.1 Advertising Strategies 4.4.2 Promotion and Public Relations 4.4.3 Sales Force 4.4.4 Comprehensive Support Program 4.5 Product Strategies 4.6 Distribution Strategies 4.7 Pricing Strategies 4.7.1 Potential Customer 4.7.2 Sales Forecast 4.7.3 Return on Investment (ROI) Conclusion

Sales promotion consist of a collection of incentive tools designed to stimulate quicker or great purchase of particular products or services by consumers or the trade.  Consumer promotions are samples, coupons, cash refunds, prices off, free trials, etc.  Trade promotions are prices off, advertising and display allowances, and free goods.  Since Sonic will be entering into an already established market of high brand similarity, their main focus will be to attract brand switchers because the targeted market already owns some type of PDA.  Sonic should not continue consumer and trade promotions after the new products have been in the market for six months because sales promotions in markets of high brand similarity can produce a high sales response in the short run but little permanent gain in brand preference over the long term.

General Issue: which segments should the company target? How should the company and its products be positioned?

It is the firm belief of this analysis team that the most effective competitive strategy for Sonic to pursue in the release of its Sonic 1000 is a focus-oriented strategy. Textbook author Kevin Keller describes the strategy as one wherein “the business focuses on one or more narrow market segments” (Kotler & Keller, 2009). In the use of a focus strategy, “the firm gets to know these segments intimately and pursues either cost leadership or differentiation

The Sonic firm would later have the opportunity to pursue either the Cost Leadership or Differentiation segment. It is important that the Sonic sustain the lowest cost to gain brand recognition in the market. Sonic can pursue targeting identified segments with multi – dimensional satisfaction that includes quality, differentiation, and price (Kotler). The Overall Cost Leadership states that firms work hard to achieve the lowest production and distribution cost. Sonic has not established their brand or image so their price for competing PDAs is lower than competitors. Differentiation sets the product apart and the firm must make the products with the best components. The Sonic PDA must be positioned as a versatile, convenient, and value added product. The focus would incorporate hands free operation for multiple communication, entertainment, and information capability.

1. Target Market Selection – Who is to be serviced needs to be determined. Target heavy users, all users, or even what age and gender to focus on.

product features for this audience. The company was beginning to develop real traction in this

The plan proposed is very tight, and will really help to engage the target audience, build brand awareness, and maximize exposure across all channels, while providing a positive double-digit profit margin. The biggest concern is making sure the budget is not immediately exhausted by print and digital ads, so I propose that we look for a company that we can partner with, such as a Women’s Health organization or something similar. I believe in doing so, this will allow the utilization of their contacts, resources, and existing platforms, which should include a large percentage of our target audience. We have to remember that this is not just a re-launch of an existing product/brand, but this is a launch of a new innovative initiative that will take a firm budget to be successful.

We would like to have the first mover advantage and expand our footprint to regional markets