...Case Study: TrapEase America 1. Trap Ease only has a onceinalifetime opportunity because the investors see that this product has big potential since the idea is great. The investors saw the product and automatically saw that people would buy it since it is such an easy and clean solution to something associated with messy and violent. The information needed to evaluate the opportunity is the study of the market, competitors, and other products. Also, the awards and buzz surrounding the TrapEase also helped the investors see this as a high potential. The positioning of TrapEase is centered around dead mice and the product. They really value their product and want to show its usefulness. The group’s mission statement would be similar to their slogan “Easily trapping mice without a mess.” If the main target is people who stay home, then my mission statement’s point would not be about dead mice but about the peace of an environment that is rodentfree. The mission statement would read like this: “Ensuring a clean and safe environment for our customers through innovation.” 2. Martha has identified that the best target for the TrapEase is women since they do not enjoy the cleanup that happens with the original mousetrap and stay at home. It seems like Martha has used a fast train of thought to come up with this conclusion and not statistics. This is not the best market target. The number of women who study and have a professional life is growing...
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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 Case Study 1. Martha and the investors in the Trap Ease seem to face a “once in a lifetime opportunity.” What information do they need to evaluate this opportunity? How do you think the investor group would write the mission statement? How would you write it? Trap Ease America has obtained worldwide rights to market an innovative mousetrap which had won the title of “best new product” at a National Hardware Show in Chicago. In order to evaluate this once in a lifetime opportunity the investors at Trap- Ease need to understand the market place in which they will be operating in terms of customer needs, customer wants and demands in order to create value for customers and build a strong customer relationship to capture value from their potential customers in return. This will help Trap Ease to identify who will be the best target market for their product and what would be the best market offering, how your target market makes purchasing decisions, how your competition positions their products and what your product has to offer. B) I think that the investor group would write a product oriented mission statement stating the product that they offer for example “ we sell an innovate mousetraps” where as I would write a market oriented mission statement geared towards satisfying the customer basic needs. 2. How is the product positioned relative to the selected target market in the case? Are there other ways to position the product? Trap –Ease America’s research...
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...ASSIGNMENT – CASE STUDY ADVANCED CERTIFICATE IN MANAGEMENT BUSINESS STUDIES A group of investors had formed Trap-Ease America after it had obtained worldwide rights to market the innovative mouse traps. The group had hired Martha 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. Martha knew that the investor group believed that Trap-Ease America had a ’once in a life time chance’ with its innovative mousetrap. To evaluate this opportunity Martha must collect information from different angles. She must choose a best target market for the Trap-Ease. 1. As Martha and Trap-Ease America feel that they face once in a life time opportunity after obtaining worldwide rights to market the mousetrap. Martha had forecasted Trap-Ease’s first year sales at five million units. As she sensed that group’s impatient with the progress of company so far. So she budgeted approximately $250,000 in administrative cost and fixed costs for the first year, but this did not include marketing cost. To evaluate this opportunity Martha must evaluate write market for mouse traps. Market can be divided into different groups of buyers with different needs; buyers desire different benefits from one product. Consumers needs and wants change with their age. As Martha wondered, apart from trapping mouse using mouse traps consumers may also buy the trap as novelties. Company needed to sell...
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...Trap Ease Case Study 7) List and define the eight steps in the new product development process that Trap Ease was likely to go through before it was placed on the market. Comment on Trap Ease in terms of new product development Trap ease is wildly innovative. It had won the National Hardware Show, beating out over 300 hundred new products. Although being a new innovative product on the market, Trap Ease had many challenges, their product wasn’t positioned right, and price was too high. In order to create successful new products, Trap Ease must understand its consumers, markets, and competitors and develop products that deliver superior value to customers. It must carry out strong new product planning and set up a systematic, customer-driven new product development process for finding and growing new products. The eight major steps in this process are: 1. Idea generation 2. Idea screening 3. Concept development and testing 4. Marketing strategy development 5. Business analysis 6. Product development 7. Test marketing 8. commercialization Idea generation is the systematic search for new product ideas. Major sources of new-product ideas include internal sources and external sources such as competitors, distributors, customers, suppliers, and others. Idea screening is screening new-product idea to spot good ideas and drop poor ones as soon as possible. Concept development and testing – the product concept is a detailed...
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...Company Case: Trap-Ease America Answer 1: Martha and the investors believed that the product they had was of excellent quality and it should be readily bought in the market. However there seems to be no evidence whatsoever to whether the investors had thought anything out about neither the marketing strategy they would follow nor the fulfilling of the customers’ needs and wants. Not even was there any effort seen to research out information about the market or the needs of the potential consumers. Many organizations develop formal mission statements. A mission statement is a statement of the organizations purpose- what it wants to accomplish in the larger environment. Some companies define their mission myopically in product or technology terms. But I think the group’s mission statement should be market oriented and defined in terms of satisfying basic customer needs. Answer 2: The best target market mean a set of buyers sharing common needs or characteristics that the company decides to serve since it’ll give maximum profit. The case study tells us that Trap Ease is targeting housewives since they are reluctant to set and bait traditional spring loads. As they are concerned about the health and safety of the children, and cleanliness of their homes Trap Ease would be a better product to use. There are other markets the company could possibly target. Segmenting the market we can find any business that handles food storage or production using Trap Ease for their benefit...
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... 2014 Trap Ease America 1. Has Martha identified the best target market for Trap ease? What other market segment might the firm target? a. Martha particularly target women, because she feels that women do not like to clean the mess or have the risks of traditional mouse traps. I feel this is a good place to start but there are many improvements Martha needs to make. For example she should have put women in different groups (i.e. ones who stay home, ones who work, single women etc.). Women who stay at home is shrinking as they are becoming independent professionals. So by targeting women who stay home she is in fact targeting a shrinking market. b. There are many market segments that Martha missed when looking at target markets. Some market segments she missed are markets like, families in a larger sense, animal lovers or even environmentalists. I read that the Trap- Ease mouse trap is re-suable which makes it very environmentally friendly. The animal lovers would greatly love the trap because it does not require poisoning the mouse or snapping closed on another animals paw. This would also be very great for families’ because mothers and father would be happier to get poisons out of the house and also eliminate the possibility of their child snapping a finger or toe in the trap. 2. How has the company positioned the Trap Ease for the chosen target market? Could it position the product in other ways? c. While reading over the case study it seemed...
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...Trap-Ease Case Study. 1. Once in a lifetime opportunity. Need to know the range of mouse trap offerings. Need to know the level of marketplace acceptance, or not, of the various offerings. Need to identify the need of consumers that this product would meet in contrast to other offerings that did not meet the perceved need. "Why this particular conformation of a mousetrap?" They needed to know that the product was the answer to a cry coming from the marketplace. Trap-Ease mission statement. Trap-ease America believes it has developed a product that fulfills a great need in the mousetrap product arena. We have worked hard to develop a trap that eliminates the need to be "involved" with the trapped subject. The company's aim is to provide a seamless experience in pest control. Our product is made to insure an "out of sight, out of mind" experience for the user. The user is not invested in the caught object as it is with more conventional traps. We believe that our product is great for the individual who wants pest control without seeing the pest. My mission statement: Pests are a fact of life. The fact is , pests invade the dwellings of people more than we like to think. The distaste of the presence of pests in a dwelling is unacceptable. Trap-Ease has made as its goal, the production and sales of pest-control devices that meet the need of sense-disengaging pest control devices. This is the main goal of our enterprise. ...
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...Marketing Ros | 35.46% | 14.08% | Marketing Roi | 771.2% | 142.52% | Marketing expense apple: 10,746,750$ Marketing expense HP: 10,209,000$ * All figures are based on the income statements for the year ending 2015. From the figures above we can conclude that Apple is making much more profit than HP since its sales revenue are much higher, although both have close marketing expenses. Company Case 1) In order for Marta and Trap Ease America to assess their golden opportunity they should study the market carefully and see whether there exists another product that is launched in the market to fight mice or will they be the first company. If Marta’s product is going to be the first product in this market they are expecting a very high amount of market share. In my opinion the mission statement should be “we clean your homes of any animals.” 2) Marta is targeting women since men are mostly at work and don’t take care of the household. Since ladies are mostly responsible for cleaning and keeping the house clean it is their job to keep the house of any mice. 3) “Trap me easily” was the company’s statement but...
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...in fairly large numbers and to make sure they are a representative sample of your target market.” ("What Is Quantitative Research?” 2015). There also are descriptive and statistical approach’s in this paper that will help with understand what is best for you business research. When constructing a business research there are several sampling methods that can be used. Some sampling methods would be simple random sampling, systematic sampling, cluster sampling and quota sampling and etc. The article I chose to do is called Qualitative and quantitative methods for sampling zooplankton in shallow coastal estuaries. “Many different devices are used for sampling zooplankton. Every sampler has its advantages and limitations in terms of sampling ease and efficiency, which is why hydro biologists search for devices that could increase sampling efficiency and decrease human effort (Nunez et al. 2008).” In this article they used the plankton net sampling method and it is used to sample the lake or pond.” These sampling methods all have their strengths and weakness and to choose...
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...– after Break • Case at end of old chapter due BOC • EOC project due end of class Week 1 • Introduce Expectations • PowerPoint for Chapter 1 - Marketing: Managing Profitable Customer Relationships – in shared directory Zeus • Discussion Questions Customer Satisfaction o When have you, personally, been extremely satisfied or dissatisfied with a product? Why? o One half to three quarters page due EOC (End of class this week) • Concept Check – master in class at 100% • Company Case – Office Depot: Thank you for calling…. o Due BOC (Beginning of class next week) • Concept Challenge Chap 1 will be quiz next week after break • Concept Check Chap 2 will be BOC Week 2 – Martin Luther King Week 3 • Concept Challenge Chap 1 will be quiz after break • Concept Check Chap 2 will be BOC • Fellini’s La Note De Cabiria o Original Trailer – for Italian Audiences o Re-release Trailer – Repositioned as a masterpiece • PowerPoint for Chapter 2 - Company and Marketing Strategy: Partnering to Build Customer Relationships • EOC – Wizard of Oz as horror movie • BOC next week – Reposition ET as Horror Movie o Six Frames PowerPoint o Self Running o Sound Optional o Make no changes to original art o Draw, sketch or find pictures o Use text for clarity • Case page 60 Trap-ease • Retake Chapter 1 concept...
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...Case Study-Kidnapped In Colombia 1. The company made a number of mistakes in preparing Melissa and Dan for their trip to Columbia. First off the company should have never let the couple go into such a hostile territory uninsured. Kidnappings were a frequent happening in Colombia; therefore, the company should have provided some sort of ransom insurance in case something was to ever happen. Granted the couple were warned about the political troubles and violence in Colombia, they were never really safeguarded against potential crimes. In addition, the company didn’t prepare the couple for the language barrier in Colombia. Purchasing everyday merchandise or communicating with the locals on a day to day basis was really hard. The company should have either provided a translator who could be at the couple’s service whenever needed, or the couple should have taken some sort of introductory course to help them learn the basics of the language. And lastly, the organization should have provided better protection for the couple as a whole. Did the company make its best effort to put them in the safest possible region in the country? As a valued member of the organization, Dan should have received the best possible protection from the company. 2. Dan and Melissa also made a lot of blunders in preparation for this trip. For one they didn’t prepare themselves. They should have conducted more research on the country and understood the cultural similarities and differences. They based...
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...THE FOUR MOBILE TRAPS The Most Common Mistakes Made by Mobile Apps and Websites SUMMARY SUMMARY: FOUR COMMON MISTAKES PLAGUE MOBILE APPS AND WEBSITES Companies creating mobile apps and websites often underestimate how different the mobile world is. They assume incorrectly that they can create for mobile using the same design and business practices they learned in the computing world. As a result, they frequently struggle to succeed in mobile. These companies can waste large amounts of time and money as they try to understand why their mobile apps and websites don’t meet expectations. What’s worse, their awkward transition to mobile leaves them vulnerable to upstart competitors who design first for mobile and don’t have the same computing baggage holding them back. From giants like Facebook to the smallest web startup, companies are learning that the transition to mobile isn’t just difficult, it’s also risky. This whitepaper describes the four most common mistakes that companies make in mobile apps and websites. The traps were identified through thousands of mobile user tests run by UserTesting.com. The mistakes are common because they grow out of some of the best practices that make a company successful in the traditional computing world. The more successful you’ve been in traditional computing, the more likely you are to make these mistakes in mobile. In the pages that follow, we’ll describe the traps, how to recognize them, and what you can do...
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...Mike Horn Hertz ENG 102 4 November 2010 Protecting the Virtual Environment After months of searching for a major, I finally discovered computer science. I had, at one point or another, intended to major in film, English education, physics, anthropology and nearly every other major offered. Following my father’s advice, I took a class in computer science and I instantly changed my major. According to the Department of Computer Science at Boston University, computer science is “the systematic study of the feasibility, structure, expression, and mechanization of the methodical processes (or algorithms) that underlie the acquisition, representation, processing, storage, communication of, and access to information, whether such information is encoded in bits and bytes in a computer memory or transcribed in genes and protein structures in a human cell.” Job growth significantly contributed to my decision on a major. According to the U.S. Bureau of Labor Statistics, careers requiring at least a B.S. in Computer Science are seeing the greatest amount of growth, and are expected to continue to do so through 2016. Also, people in this major tend to receive the greatest average starting salary at $65,000. However, the field is not without its problems. Because computing is so new and many laws have yet to form, the computer science environment faces ethical issues such as intellectual ownership, security, and what can be published to the Internet. Currently, the field...
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...More HyperOffice It is therefore important to keep our wits about & develop a systematic White Paper approach to the buying decision. Our view should be broad & farsighted, rather than buying based only on what immediately meets the eye. Hasty decisions leave us with flashy features never used, or hefty repair bills of products that came cheap. - HyperOffice’s Security Infrastructure - The New vs. The Old - HyperOffice compared with MS Exchange A good example of a systematic approach is when you buy a car. A myriad of factors are considered & weighed, which impact the owner for the next decade. This includes brand, performance vs. style, price, safety, terms of finance, mileage, maintenance, resale value & so many other factors. electing Software Software purchase is a grey zone; an under developed arena. Unlike products & services, it is not so intuitively evident that most software has “life cycles” & needs to be “maintained”, “updated”, & “repaired”. In our new “wired” modern reality, software is no less important than products & services in our everyday lives. Whether it’s a personal email program, chat software for instant connection, collaborative software to organize scattered employees, or an ERP implementation to manage company processes – there’s no surviving without them! But we’re somewhat more used to buying products & services than software, which is a relatively recent phenomenon. In many ...
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