...Target Market As a sporting apparel company, Under Armour target market includes men, women and youth for use in athletics, fitness and outdoor activities. The main focus of Under Armour’s target demographic however, seems to be young males. Till today, most of its sales are from young male athletes, this is because a high focus on male sports like football and lacrosse. Under Armour have multiple contracts with college football programs throughout the country, which is why this focus spurs the sales of its apparel for those types of sports. Without having any focus on women, the women’s category has suffered low sales. After seeing how its competitor, Lululemon Athletica is a success, Under Armour has begun to target the female demographic more aggressively. Marketing Objectives Under Armour’s brand awareness is very slim internationally. Big companies such as Nike and Adidas are known worldwide with Under Armour as a small competitor. According to Fortune.com, only 6% of Under Armour’s revenue is from abroad. Most of the revenue generated are from sales in the United States. Since Under Armour has already entered the global market, one of the marketing objectives is to make the company known globally to increase its revenue from the international market. Recently, Under Armour has spent millions in a campaign to win over women. The company realized they didn’t target the women’s market like how they did in the men’s market, and was reviewed one of their competitors;...
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...performance”. It is determined to dominate the market and every product that they put out must be better than what is currently out in the market. Their main goal is to be “best in class”, since the company is determined to increase its presence in the retail market. The specific problem being discussed in the case is should Under Armour enter the basketball shoe market and compete against Nike as well as adidas , Reebok and will it be successful. 2. Advertising Theory – IMC- Customer insights and Campaign Planning 1. Reciprocity and authority: Under armour should give their customers something that makes them feel lucky. So under armour should work on building credibility. 2. Social proof: People tend to do what other people do. So a social campaign will be really helpful for UA. 3. Commitment and liking: Propagate selling by involving. Make people feel they are part of your community. If people have a say in what the brand, product or service brings to the market, people will buy more. Under armour should invite customers to an online closed community. As simple as - ask their opinion and feedback on what UA is doing. 4. Scarcity: people love to buy things other people cannot buy. We tend to rush for things that are rarely available. So the question here is: ‘How do I make my product look and feel rare and scarce?’. Under armour should start displaying the “in stock” count and come up with limited edition apparels and shoes. UA held a consistent message through advertising...
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...SEGMENTATION FOR PERODUA ALZA. Market segmentation is the division of market into small segments in order to make marketing easier and avoid the waste of resources. Segmentation helps the company to know their target customer before making a decision to market their products. In automobile industry, for example the Perodua Alza, the company can use the demographic segmentation strategies to identify their potential customer. Under the demographic segmentation, Perodua Alza can be segmented to customer income, family size, and age. Perodua Alza is mainly for average income potential buyer who needs an MPV to fit a big family members with low budget and monthly payment. Besides that, Perodua Alza also suitable for the customer with social lifestyle, such as, going out or in vacation with family members which is 5 until 7 person. No more regret or offense because have to stay while the others be on a holidays. Perodua Alza mainly bought by a customer in the middle age between 30 to 50 years old and married due to family size. Young people not very interested with Alza because they tend to choose a car which suit their wild, young and free personality such as ferrari Using a psycographic segmentation, Perodua targeting Alza to customer based on their attitudes, values and lifestyle. Potential customer who’s always hang out with friend also can be a target customer because their active lifestyle such as camping, tend to make them choose the convenient and more ample space car...
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...Europe in year 1969 as a single perfume shop. * Through a series of expansion, Sephora was able to operate 54 stores by mid-90 and represent 8% of total French retail perfume market. * The product mix for Sephora was wide range of cosmetic, fragrance, hair and skin care products. * After Sephora was acquired by LVMH, the company continued its expansion and entered the U.S market by opening a store in New York in the year 1998. * Initial reaction by big brands in U.S was Luke warm and thus Sephora had to rely on less well known brands to fill its shelves. * Some of the operational consistencies across all its stores were hiring noncommissioned employees to guide consumers and answer questions, maintain similar “look and feel” and play combination of pop and alternative music to create fun, party atmosphere. * Sephora earned the reputation of having vibrant stores that encouraged trial and experimentation. * By 2010, Sephora operated in 23 countries and had nearly 1000 stores. Approximately, 45% of these stores were in U.S and Canada. * Sephora’s alliance with JC Penny in 2006 was the reason Sephora had more than 200 stores in U.S were located within JC Penny location. * Through its stores, Sephora offered 288 brands representing over 20,000 products. * The target market for Sephora was 25-35 year old women, as this age group had an aspirational element attached to it. * In terms of the competition, Sephora competed against department stores...
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...serving the adult female audience in the United States. In addition, the Company has extended its media and marketing platform around the Globe, through acquisitions and strategic licensing relationships. The Meredith Corporation has developed an expertise in building customer relationships through segmentation, targeting, and positioning. The uniqueness of this corporation is that they correctly identified the target audience, namely the female part of the Population. Their success lies in the fact that issuing journals and books, they were able to pinpoint the needs and desires of women. With 30 million readers Meredith has 14 magazines and more than 200 special interest publications. Among the Meredith magazines there are those for which that corporation is known. These magazines are Better Homes and Gardens, Family Circle, and Ladies’ Home Journal. By focusing on core categories of home, family, and personal development, Meredith has developed a product mix designed to meet various needs of women. 1. Main variables that Meredith has focused on to segment its markets. Meredith Corp. uses a combination of decision trees, linear and logistic regression, and other data-mining techniques to segment customers on the database,...
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...focusing on its economic, social and environmental angles and contribute to its community development. Rowner Community Trust is a new initiative. Therefore, as any other organizations it is looking forward to grow its social business by developing new social ventures to support Rowner community and sustain its social business. * Rowner Community Trust next project Group 1 will focus on Rowner Community Trust next project. The Community Trust next project is to create an Events Management Social Enterprise. This new project will generate revenues by providing events management services such as catering, conferences and other events management services to the following target segments: * SME's * Large Corporates * Public sector * Non-profit organizations * Consumer markets in following geographic locations: * London * Regional organizations involving the following stakeholders * Rowner Community Trust * Rowner Community Trust community center * Rowner Community Events Group The revenues coming from the events management social enterprise services will help in sustaining Rowner Community Trust and will also provide benefits such as education, training and employment to the people living in Rowner community. * Group 1 – Main Task To develop an entrepreneurial feasibility study for Rowner Community Trust events management social business that provides services to different organizations and companies. For our entrepreneurial...
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...1. Materials – Fridge Board The materials needed to create the Fridge Board are not extensive. First would be the backer which would be Natural Cork Sheets. Each sheet is $4.99 and to create one Fridge Board it will take a little more than 1 sheet. Ordering in multiple quantities allows for the board to come in one continuous sheet which would help with custom orders. The scrap will also be minimized if sheets are come in a continuous form. The next item needed is the metal that will be attached to the cork board, Stainless Steel Sheet 304. One sheet of 12"x18" stainless steel is $31.58 and would be the standard size for the Fridge Board. Custom orders would be priced dependent on what size is needed. The next item needed in the creation of the Fridge Board is Instant Bonding Glue – INSTANT JET. The bonding glue is $11.99 per bottle and would be used to bond the metal to the cork sheets. The expensive glue is required due to the types of material that are being bonded together. The final item needed to finish creating the Fridge Board is Scotch Removable Adhesive Putty. The putty costs $2.99 per package and I would use approximately ¼ of the package per Board (not purchased from Inventables.com). It is important to use a product that will not damage the refrigerator yet can stick to almost any surface. Putty is easily removable, can stick to any surface. 2. New Product, and application of materials The product I am creating is called The Fridge Board. The...
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...A RESEARCH BASED PROJECT NEW PRODUCT LAUNCH IN THE MARKET DONE BY MONU JAIN COMPANY PROFILE: * Type: Public (BSE:ITC) * Founded: 24 August 1910a Radha Bazaar Lane, Kolkata, India * Headquarters: Kolkata, India * Key people: Yogesh Chander Deveshwar, Chairman K. Vaidyanath, Director, Partho Chatterjee, CFO * Industry: Tobacco, foods, hotels, stationery, greeting cards Products: Cigarettes, packaged food, hotels, apparel Employees: over 25,000 (2009) Website: http://www.i tcp ortal.com/ Forbes Global 2000 List: 987 rank (2009) * Sales ($ billion):3. 65 Profits($ billion):0.79 Assets($ billion):4.43 Market Value($ billion):13.48 * ITC S VISION | | Sustain ITC's position as one of India's most valuable corporations through world class performance, creating growing value for the Indian economy and the Company’s stakeholders. * ITC S MISSIONTo enhance the wealth generating capability of the enterprise in a globalizing environment, delivering superior and sustainable stakeholder value | | ITC is one of India's foremost private sector companies with a market capitalization of over US $ 30 billion and a turnover of US $ 6 billion. ITC is rated among the World's Best Big Companies. ITC ranks among India's `10 Most Valuable (Company) Brands', in a study conducted by Brand Finance and published by the Economic Times. ITC also ranks among Asia's 50 best performing companies compiled by Business Week. ITC has...
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...------------------------------------------------- Management: ------------------------------------------------- Industry: Technology ------------------------------------------------- Stage of Dev.: Seed/ Early Stage ------------------------------------------------- Employees: 3 ------------------------------------------------- Founded: 2012 ------------------------------------------------- Seeking: ------------------------------------------------- Offering: ------------------------------------------------- Initial Value: ------------------------------------------------- Breakeven Date: ------------------------------------------------- Use Of Funds: ------------------------------------------------- Capital Raised to Date: ------------------------------------------------- Current Investors: Founders ------------------------------------------------- IP Law Firm: ------------------------------------------------- Accountants: ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Management: ------------------------------------------------- Industry: Technology ------------------------------------------------- Stage of Dev.: Seed/ Early Stage ------------------------------------------------- Employees: 3 ------------------------------------------------- Founded: 2012 ------------------------------------------------- ...
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...policies that a mission statement should provide. It states how the employees will deal with the customers by saying “…our servers pull out all the stops to make every dining experience feel extra special. It also states its competitive advantage by identifying that their suppliers catch the freshest fish they can. Also, that they have master chefs cooking the best meal for their customers as well. Red lobster said that “Our top priority is to always serve our guests the highest-quality seafood.” (http://www.redlobster.com/our_quality_story/our_commitment_to_quality/) and with fresh food and master chefs this will most definitely last them for a long time. Target Markets Red lobster isn’t trying to be the world’s fanciest seafood restaurant, but more of the world’s best overall seafood restaurant. Their target market is that of a middle income level class and up. They want customers that want to go out to dinner with their spouse or family and have a special experience. They want their customers to feel like that have to dress and act appropriately when they come into Red lobster to dine in. They don’t want to make their meals unaffordable but want to uphold class and excellence at the same time. Red lobster is the world’s...
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...Chestnut pricing Having completed a market assessment study and also a risk assessment study the Management of Chestnut Ridge wanted to take a relook at the pricing strategy of the country club. The annual fees due to the country club from existing members currently stood at $2000 per annum. The Management wanted to carry out a consumer based pricing analysis from potential customers so as to check if they needed to charge a different pricing level from new applicants. Proposed consumer based pricing approach. The price scale, which Chestnut Ridge wanted to use had three basic elements : (1) Beginning price level (2) Price interval, and (3) Ending price The price scale : ------------------------------------------------- $.1500 ------------------------------------------------- $.1750 ------------------------------------------------- $.2000 ------------------------------------------------- $.2250 ------------------------------------------------- $.2500 ------------------------------------------------- $.2750 ------------------------------------------------- $.3000 ------------------------------------------------- $.3250 ------------------------------------------------- $.3500 ------------------------------------------------- $.3750 ------------------------------------------------- $.4000 ------------------------------------------------- $.4250 ------------------------------------------------- $.4500 The Management assigned two researchers...
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...|IT Perception/Satisfaction Survey Part 1 (Target Audience Profile = User base) | | | | | |Rate the average time it takes for IT personnel to |Excellent Good Needs improvement |Adequate Not Used | |resolve the faults/queries you have raised | | | | | | | |Rate the courtesy extended to you by IT contact |Excellent Good Needs improvement |Adequate Not Used | |personnel | | | | | | | |Rate the degree of knowledge shown by the IT personnel |Excellent Good Needs improvement |Adequate Not Used | |assigned to resolve your faults/queries | | | | ...
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...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 revealed that women were the best target market for their product. The mouse trap is safe and easy to use and avoided the unpleasantness and risks of trapping their figures that the traditional mouse trap has. Product position is what comes to mind when your target market thinks about your product...
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...Table of Content 1. Executive Summary…………………………………………………………………………P.1 2. The Challenge………………………………………………………………………………..P.2 3. Situation Analysis……………………………………………………………………………P.3 3.1 PEST Analysis……………………………………………………………………………P.4 3.2 SWOT……………………………………………………………………………………..P.5 4. Market segmentation………………………………………………………………………P.6 5. Market Positioning………………………………………………………………………….P.8 6. Alternative Marketing Strategy…………………………………………………………….P.9 7. Product……………………………………………………………………………………P.10 8. Price…………………………………………………………………………………………P.10 9. Place (Distribution)………………………………………………………………………P.11 10. Promotion………………………………………………………………………………P.11 11. Short & Long Term Projections……………………………………………………….P.18 12. Conclusion……………………………………………………………………………….P.19 13. References……………………………………………………………………………….P.20 1. Executive Summary Improve brand awareness of Lee Jeans to Hong Kong young adults with a digital marketing plan that sustains to half year is the target of this project. Digital media is the best way to promote Lee Jeans products to our target customers, not only the result is measurable for evaluation to improve the marketing strategy in the future, but also the budget is controllable and not so costly as traditional medias. There are 2 stages of marketing events: Phrase 1: build up new customers database thru a photo taking competition for collecting primary and secondary data. Phrase 2: customer engagement thru Facebook platform, invite the...
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...4. Market Analysis Geographically situated in Malaysia, A-Life’s target market will be located from the 28 million of Malaysian total population. 4.1 Market Segmentation To launch our new product Offrey, we will be focusing on a target group in Malaysia with the following characteristics: * Urbanised Malaysian community is currently undergoing a wave of urbanisation. According to the CIA World Factbook (2011), 72% of Malaysian total population live in urban areas. These urbanised Malaysians appear to be a group of young, educated and affluent consumers. They have more sophisticated taste and preference, technologically savvy and seen to have adapted a more westernised culture. They also lead a busier lifestyle. * Health Conscious Due to the higher education level in urban areas, most urbanised Malaysians are health conscious. They usually have knowledge on ways to take care of their health and emphasize more on healthy lifestyle. Aware of the importance of health, they are usually more willing to spend on health-oriented products. * 25-40 years old Malaysians ranging from 25 to 40 years old stand a portion of approximately 4 million over the 28 million of total population in Malaysia. (Euromonitor International, 2011) They are characterised as well-educated, socially mobile and affluent group of people in Malaysia. (Euromonitor International, 2012) They have been identified as a valuable consumer segment by most of the industries due to their strong...
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