...assuming responsibility for sales and marketing. Trap-Ease America has targeted the trap to housewives, whom it believes will be attracted... Trap-Ease America has the patent to a revolutionary new mouse trap. Trap-Ease America expected the revolutionary mouse trap to sell like hot cakes unfortunately things have not progressed as predicted so far. A few major problems can be identified with the overall business strategy of Trap-Ease America. First of all, the President of the company happens to be the only sales person as well for the product. Secondly, there seems to be a wrong selection in terms of market segmentation. Even though the product is a revolutionary one, however it is still only an improvement of an age-old device. Regardless of how much promotion the product has received from third party reviewers, the consumers still need to be educated on why this more expensive mouse trap is better than the conventional ones. Thus it is imperative that the President hires experienced sales people in order to reach and educate more potential consumers. Apart from that, it is also important to change focus in terms of target market, since the current strategy is targeting women. The target market should be anybody facing the issue of mice in their household. With the right marketing and positioning strategy, along with a strong sales force, Trap-Ease America can definitely capitalize on the revolutionary product. Swot Analysis Strength 1. Very innovative...
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...Marketing Company case Trap ease American: The Big Cheese of Mousetraps Presented for: Luis Fernando Correa Presented by: Andrés Felipe Doblado Paula Andrea Buitrago Luis Miguel Ramos Valentina Ramirez University of La Sabana Febrary 07 of 2014 BACKGROUND In 1987, a group of investors had formed Trap-Ease America in January after it had obtained worldwide rights to market the innovative mousetrap. In return for marketing rights, the group agreed to pay the inventor and patent holder, a retired rancher, a royalty fee for each trap sold. The group, then hired Martha House to serve as president and to develop and manage the Trap-Ease America organization. Martha had initially forecasted Trap-Ease’s first-year sales at five million units. Through April, however, the company had only sold several hundred thousand units. Martha wondered if most new products got off to such a slow start, or if she was doing something wrong. She had detected some problems, although none seemed overly serious. For one, there had not been enough repeat buying. For another, she had noted that many of the retailers upon whom she called kept their sample mousetraps on their desks as conversation pieces and she wanted the traps to be used and demonstrated. Martha wondered if consumers were also buying the traps as novelties rather than as solutions to their mouse problems. In these first few months, Martha had learned that marketing anew product was not an easy task. Some customers...
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...Martha and the Trap-Ease America investors believe they face a once-in-a-lifetime opportunity.What information do they need to evaluate this opportunity? How do you think the group would write its mission statement? how would you write it? A 1. I think they believe that they have a one-in-a-lifetime opportunity because Trap-Ease is an new and innovative idea for a mouse trap so it can be potential for the company’s growth and profit but in order to fully take advantage of this opportunity Trap-Ease America will have to first find out the actual needs and wants of their potential costumers which i think should not be limited to only women, they need to find out if the customers actually need a product with these many additional features because the customers might wish or even want such a hygienic and safe approach for a mouse trap but might not be willing to pay the extra cost that comes with it. Trap-ease America also needs to determine the products strength, weakness, opportunities and threats to further analyze and decide how they want to sell the product and use this opportunity to its fullest. I think that the mission statement should be written in a such a way where it describes how this mouse trap is something different and innovative compared to its traditional counter parts because i think if the difference is clearly mentioned in the mission statement than it would definitely catch the interest of the customer when they are deciding on which mouse trap to buy. i think...
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...Trap-Ease America: The Big Cheese of Mousetraps Company Case 1. Martha and the Trap-Ease America investors believe they face a once-in-a-lifetime opportunity. What information do they need to evaluate this opportunity? How do you think the group would write its mission statement? How would you write it? Martha, the president of Trap-Ease and its investors need to improve their marketing strategy by understanding which is the best and the most efficient way to obtain their target market within their budget. When they talk about a “once-in-a-lifetime” opportunity, they are talking about the potential for profit and growth. Martha and the investors have to set company objectives and goals, to build strong customer relationships, to focus on a customer-driven marketing strategy (market segmentation, market targeting, market differentiation and positioning), to develop an effective integrated marketing mix in order to manage the marketing effort (marketing analysis, marketing planning, marketing implementation, marketing control). Particularly inside the marketing analysis, they have to realize a SWOT analysis which determines the company’s strengths, weaknesses, threats, and opportunities for Trap-Ease in the marketplace in order to match the company’s strengths to attractive opportunities in the environment while simultaneously eliminating weaknesses and minimizing the threats because they have not done research into the market to assess whether the demand for the product...
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...Home » Business & Economy » Marketing & Advertising Trap-Ease America: the Big Cheese of Mousetraps By vareemon | September 2010 Zoom InZoom Out Page 1 of 4 Trap-Ease America: The Big Cheese of Mousetraps 1. Martha and the Trap-Ease America investors believe they face a once-in-a-lifetime opportunity. What information do they need to evaluate this opportunity? The information they need to evaluate this opportunity is their market share compare to the whole mousetrap market. They can also scope down and use the following information: -Check whether their marking plan is efficient and effective. -Check with retailer and distributors whether sales are increasing or not. They might need to conduct a research to evaluate bottom line reasons of decreasing in sales. -Monitor their customers, competitors, and suppliers. They could evaluate the competitors in terms of their marketing mix and their customer. -Monitor internal organization personal. -Research whether demand for the product is steady, increasing, or decline. -Perform a SWOT analysis. -Do research on customer needs and demand. -Evaluate customer complains and customer relationship. -Evaluate the skill and effectiveness of salespeople. -Evaluate whether product has served customer wants How would you write a mission statement? I would write a mission statement by emphasizing the strength of the product. We strive to be a leader in innovative, user friendly and safety, and quality mousetrap. We provide hygienic...
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...Trap-Ease the Big Cheese of Mousetraps Martha and the Trap-Ease investors believe they face a once in a lifetime opportunity. What information do they need to evaluate this opportunity? How do you think the group would write its mission statement? How would you write it? First of all there are four primary areas for assessment that should be considered. 1. People Behind the idea: the background, talents, and experience of the personnel behind the idea and the management team, employees, and advisers. 2. Resources available: 3. The knowledge and information possessed by the entrepreneur, including knowledge of the new concept, the industry, and market research. Moreover they shall consider barriers to entry, location, competitors, social and economic trends, regulatory factors, target market, and market penetration and more importantly how information would be obtained? 4. The idea’s ability to generate revenue. How great is the potential to sell something that will generate actual revenues? There are a lot of tools that can be used to evaluate the initial idea and subsequent opportunities. • Creative tools such as ALUO (Advantages, Limitations, Uniqueness, and Opportunity) can help entrepreneurs identify the key strategic points and differences surrounding their ideas for the business. • The KIC (Knowledge of Industry Checklist), including a comprehensive competitor analysis, is a useful guide for collecting and interpreting information about the industry. • “Give Me Five”...
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...Trap-Ease mouse traps have huge potential, but it is a question mark when referring to the Growth Share Matrix. In my opinion it has a high market growth rate, or attractiveness to the market, but right now its strengths is not there, referring to it relative market share. This idea of a mouse trap that can catch mice and not make a mess and is easy to set up is attractive to everyone. While the case states that women are the target market, I feel that men can like this product as well. The trick is marketing it the right way. It seems that the major problem is a huge lack in advertising. The cases states that she is very successful at the National Hardware Show in Chicago, but its seems that nobody cares that Trap-Ease mouse traps won the Best New Product Award or that it got good press from the show. What Martha House needs to do is go back to the drawing board and stop investing so much of her budget in these stupid hardware shows. She even says it doesn’t help her much. It’s probably because nobody cares about a hardware show. Before reading this case I didn’t even know that they had hardware shows. So you need a way to connect to people other than just going to hardware shows, where the only people that are going to be there are people who are enthusiast in hardware, which I assume is a very small percentage of people who buy these mouse traps. The case mentions how she wants to target women, since consumers like less of a mess and is easy to set up. Do you think women...
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...Principles of Marketing (MKTG 320) Fall 2013 Syllabus (Tentative) Madan M.Batra (MBA, Ph.D.) Professor of Marketing and International Business Room 406A Eberly 724-357-5776 (Office) 723-388-9595 (Cell) batra@.iup.edu Office Hours Tuesdays and Thursdays: 12:15 to 2:00 p.m. & 3:15 to 3:30 p.m. Wednesdays: 1:00 to 2:00 p.m. Please see the D2L course website for announcements concerning any changes in office hours during a specific week. Instructor Profile I am a professor of marketing and international business at Eberly College of Business and Information Technology. My academic preparation includes MBA in International Business (Dalhousie, Canada), and MS in Marketing and Ph.D. in International Business with focus on International Marketing—both from the University of Wisconsin-Madison. I have worked at a managerial level in a large multinational enterprise. I have taught a wide range of courses--International Business, International Marketing, The Global Village, Self-Marketing, Marketing Internship, Principles of Marketing, Consumer Behavior, Marketing Research, Seminar in Marketing, and Marketing Management at undergraduate, graduate and executive levels. My research interests are in international business, business sustainability, international marketing ethics, advertising ethics, self-marketing, export marketing, cross-cultural marketing, experiential education, and effective pedagogy. My research articles are published in numerous journals that...
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...Contents INRODUCTIONS AND HISTORY: 2 Product and market history: 3 The Intel’s market, suppliers and competitors: 4 The Current and Future Challenges to Intel: 6 Analysis of Intel Corporation: 7 Corporate strategies: 8 Conclusion and Recommendations: 8 INRODUCTIONS AND HISTORY: Intel is one of the world’s largest and very best introducers of semi conductor chip Makers Company. It’s an American based multinational chip makers corporation which is located Santa Clara, California and founded on founded mountain view on July 18, 1968 by Gordon E. Moore , Robert Noyce, Arthur Rock and Max Palevsky. Rock was the Chairman of the Board. After Rock Andry Grove ran the company till 1980 till 1990. The word Intel is basically used in terms of intelligent. Intel manufactured many products as motherboards ,chipsets, network interface controllers and integrated circuits, flash memory ,graphics chips ,embedded processors and other devices which are used in communications and computing systems on large scale. In ages of 1990 Intel was only be known primarily to engineers and technologists i.e. Intel inside which made it a household name, along with its Pentium processor. The main ability of Intel is to combine advance chip design capability with as leading-edge manufacturing capability. As compared to other companies like Google in today’s world Intel is not using common system. As Google is transferring data from long distance by using fiber optics but when machines...
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...Item 1 =========================================================== Managers within a strategic business unit or small organizations can make use of a variety of strategic techniques ideas and tools as part of the business planning process .Critically review the value of the main tools that exist to determine the most appropriate bases of competitive advantage including Porter’s thinking on generic strategies. ===========================================================Word count: 1579 =========================================================== 1. Porter’s Generic Competitive Strategies The Porter’s Generic Competitive Strategy defines whether a company follows competitive advantages through its share market scope. (Porter, Michael E., 1985) Competitive Advantage Competitive Advantage Differentiation Differentiation Low Cost Low Cost Broad Target Broad Target Competitive Scope Competitive Scope Narrow Target Narrow Target There are three generic strategies, either lower cost, differentiated, or focus. The focus strategy has two variants, cost focus and differentiation focus. A firm selects to pursue one of two types of competitive advantages. 1. Cost Leadership: Through lower costs than its competition or become a low cost producer in its industry. 2. Differentiation: By differentiating itself along some dimensions that are widely valued by customers to command a higher price...
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...nrw | nrw | Risk Management Design -RV Dealer final report Risk Management Design -RV Dealer final report PART I 1. OBJECTIVE The objective of this report is to present a Risk Management Plan for the RV Retail and Depot facility located in Fountain, Colorado. The overall cost of the construction and restoration of the existing facility is approximately 1.5 million dollars. Level 1 | Level 2 | Level 3 | 1- RV Design | 1.1 Initiation | 1.2.1 Initial Meeting with General Contractor Construction Architects to discuss the project. 1.2.2 Present the project to the team 1.2.3 Prepare a proposal 1.2.4 Present proposal 1.2.5 Proposal Approval | | 1.2 Planning | 1.2.1 Create a preliminary scope of work1.2.2 Determine the project team1.2.3 Develop a project plan1.2.4 Submit the project plan1.2.5 Project Plan Approval | | 1.3 Execution | 1.3.1 Project Kickoff meeting1.3.2 Verify and validate user requirements1.3.3 Create a cost estimate1.3.4 Present cost estimate to customer1.3.5 Milestone: Cost Estimate Approval1.3.6 Select equipment 1.3.7 Draft initial design1.3.8 Milestone: Present 60% design to customer1.3.9 Receive comments from customer1.3.10 Review comments1.3.11 Complete design using the customer’s comments1.3.12 Create a punch list 1.3.12.1 Team Coordination Meeting1.3.13 Milestone: Present 95% Drawings to customer | | 1.4 Control | 1.4.1 Project Management1.4.2 Project Status...
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...PESTLE Analysis Strategy Skills Team FME www.free-management-ebooks.com ISBN 978-1-62620-998-5 Copyright Notice © www.free-management-ebooks.com 2013. All Rights Reserved ISBN 978-1-62620-998-5 The material contained within this electronic publication is protected under International and Federal Copyright Laws and treaties, and as such any unauthorized reprint or use of this material is strictly prohibited. You may not copy, forward, or transfer this publication or any part of it, whether in electronic or printed form, to another person, or entity. Reproduction or translation of any part of this work without the permission of the copyright holder is against the law. Your downloading and use of this eBook requires, and is an indication of, your complete acceptance of these ‘Terms of Use.’ You do not have any right to resell or give away part, or the whole, of this eBook. PESTLE Analysis Table of Contents Preface 2 Visit Our Website 3 Introduction 4 PESTLE Analysis 6 PESTLE Factors 10 Political Factors 12 Economic Factors 13 Social Factors 15 Technological Factors 16 Legal Factors 18 Environmental Factors 20 Summary 22 Other Free Resources 23 References 24 ISBN 978-1-62620-998-5 © www.free-management-ebooks.com 1 PESTLE Analysis Preface The PESTLE Analysis is a useful method to use in order to identify the external factors that influence...
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...Business for the BBA program at Iqra University. I have contributed my best efforts for the completion of this report and hope that it will come up to the standards as preferred. Sincerely, M.Wajahat Raffat TABLE OF CONTENTS: S.NO | CONTENTS | PAGE | 1 | Introduction | 5 | 2 | Brief History | 6 | 3 | Role of information technology in banking | 7 | 4 | Advantages of technology in banking | 8 | 5 | Disadvantages of technology in banking | 10 | 6 | Technology products in banking sector | 11 | 7 | Individuals and companies depending on banks | 12 | 8 | Individuals and companies have nothing to do with banks | 12 | 9 | Marketing steps and promotion of banks | 13 | 10 | Ethical considerations | 15 | 11 | SWOT analysis | 17 | 12 | Future outlook | 19 | 13 | Size of the industry | 20 | 14 | Jobs in the industry | 21 | 15 | Information technology security in banks | 23 | 16 | How to defend site against threats | 27 | 17 | Banks database | 28 | 18 | Equipment and network topology | 31 | 19 | Website link | 32 | 20 | Banking Model on Arena | 32 | 21 | References | 33 | INTRODUCTION: A bank is a financial intermediary that accepts deposits and...
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...PowerPoint Charts & Diagrams CEO Pack ©Presentation-Process.com 750+ POWERPOINT CHARTS & DIAGRAMS CEO PACK Press Ctrl + F to find a particular term, and locate the folder and file name where you can find the specific diagram. A screenshot of all the diagrams are included to help you locate just what you need easily and quickly. Browsing through this set of creative diagrams can also inspire new ideas! CONTENTS (793 SLIDES + 156 ICONS = 949 ITEMS) Folder: Cause Effect diagram (38) ........................................................................................................................... 2 Folder: Circle diagram (21)...................................................................................................................................... 4 Folder: Consulting diagrams (83) ............................................................................................................................ 6 Folder: Extreme custom animation (15) ................................................................................................................ 10 Folder: PowerPoint 3D (51)................................................................................................................................... 11 Folder: PowerPoint charts (51) ............................................................................................................................. 14 Folder: PowerPoint concepts (84) ........................................
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...BUSINESS STRATEGY OTHER ECONOMIST BOOKS Guide to Analysing Companies Guide to Business Modelling Guide to Business Planning Guide to Economic Indicators Guide to the European Union Guide to Management Ideas Numbers Guide Style Guide Dictionary of Business Dictionary of Economics International Dictionary of Finance Brands and Branding Business Consulting Business Ethics Business Miscellany China’s Stockmarket Dealing with Financial Risk Future of Technology Globalisation Guide to Financial Markets Headhunters and How to Use Them Successful Mergers The City Wall Street Essential Director Essential Economics Essential Finance Essential Internet Essential Investment Essential Negotiation Pocket World in Figures BUSINESS STRATEGY A Guide to Effective Decision-Making Jeremy Kourdi THE ECONOMIST IN ASSOCIATION WITH PROFILE BOOKS LTD Published by Profile Books Ltd 3a Exmouth House, Pine Street, London ec1r 0jh www.profilebooks.com Copyright © The Economist Newspaper Ltd 2003 Text copyright © Jeremy Kourdi 2003 All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the publisher of this book. The greatest care has been taken in compiling this book. However, no responsibility can...
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