241 component 1

241 component 1 - AEM 241 Component 1 Jason Aronson Jarett...

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AEM 241: Component 1, Jason Aronson, Jarett Banks, Phil Kaunders, Alexandra Creed AEM 241 Component 1 Rusty Red Marketing Plan Jason Aronson jda45 Jarett Banks jfb39 Phil Kauders ptk9 Alexandra Creed acc244 | P a g e 1
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AEM 241: Component 1, Jason Aronson, Jarett Banks, Phil Kaunders, Alexandra Creed I. Company Description Introduction What is the business? In literal terms, Rusty Red sells red wine that is imported directly from Italy. What will separate Rusty Red from other red wines is the charitable cause that the net proceeds from Rusty Red sales will support. The Rusty Red Foundation will provide funding for needy community athletic projects and scholarships for young boy and girl student athletes in order for them to achieve higher education. What is its history? About 7 years ago, Joe Lizzio and his wife purchased 50 acres of vineyards near their country home in Italy. This year, for the first time, Joe has started bringing the wine over from Italy. The first vintage of “Rusty Red” was produced in 2008 under the guidance of the renowned Stefano Berti. Thus far, 250 cases have been brought over, and a “Rusty Red Reserve” of 450 cases is coming over in the next six months. Product Definition The two products that The Rusty Red Foundation provides are the Rusty Red and Rusty Red Reserve wines. Rusty Red wines hopes to provide is to be a vehicle by which customers can enjoy a fine Italian wine while also supporting a worthy cause. Customers will be able to obtain something tangible in addition to obtaining the satisfaction of supporting youth athletics and education. The BCG Matrix for Rusty Red shown above labels Rusty Red as a Problem Child. A Problem Child is characterized by low relative market share but a high rate of growth in the market for the product. Rusty Red currently has zero market share in the | P a g e 2
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AEM 241: Component 1, Jason Aronson, Jarett Banks, Phil Kaunders, Alexandra Creed market for red wine and for philanthropic donations. However, data in the Industry Analysis section of this report clearly shows that the market for wine is growing at a high rate. Rusty Red needs to make his product successful, so our challenge will be to make this Problem Child profitable and raise money for a terrific cause. Problem Definition The Rusty Red Foundation needs help with several essential aspects of the business: Figuring out exactly who the target market is Getting the word out to that target market Establishing the quality of the wine in the minds of the target market Gaining appeal for the cause that Rusty Red is supporting o Creating a clearer definition for exactly what the cause is Separating Rusty Red’s cause from other charitable efforts Addressing distribution issues Researching a possible future expansion of the product line Branding – want people to associate the wine with Cornell lacrosse/athletics Creating a new website Market Summary and Market Needs Target Market: This is shown by the following list of target groups. Following each group is a
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This note was uploaded on 01/21/2009 for the course AEM 2410 taught by Professor Perosio,d. during the Fall '07 term at Cornell.

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241 component 1 - AEM 241 Component 1 Jason Aronson Jarett...

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