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A1_Quarter1 - TRIAL DECISION#1 MKT 450 1 MISSION STATEMENT...

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TRIAL DECISION #1 MKT 450 September 17, 2008 1
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MISSION STATEMENT To become the industry leader in quality innovative technology for the entire family. COMPANY OBJECTIVES To implement a low cost strategy across the company to reduce costs and allocate capital more efficiently. To deliver quality technological products benefiting the masses and end- user. To operate ethically and morally and adhere to the utmost standards. To gain 35% additional market share within the next two years. MARKETING STRATEGY Price: Focused on providing moderately priced technological products. Price doesn’t diminish the value of the product but instead adds value. Product: Among the most innovative merchandise in the industry. Not only the highest quality, but among the first to hit the market. Place: Distribution across the nation at all major retailers that carry electronics. Biggest effort put in to have every place where the product is offered fully stocked. Promotion: Highly trained sales people will push products to the best of his/her ability. Advertising at the national and regional level through two mediums: broadcasting and print. Special sales promotion will also be utilized. Sales will be different across the three regions based on certain demographic variables. COMPETE Pricing Upon thoughtful examination of the products, TST, CVE, and SSL, and of the regions in which the products will sell, the group elected to establish a geographical 2
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pricing strategy. This is due to variations in the different price points dependent on each region for each product. To begin with, the TST for Region 1, the northern region, is set at $4,612.00. The figure is derived from establishing a 2.5% increase from the original price of $4,500.00 as this marginal increase would result in the perception of higher quality. Per the market research provided (Compete Packet) the group determined consumers in the North to value higher quality, generate higher incomes, and value themselves as trendsetters. Thus, the TST product would provide the opportunity for consumers in the region to purchase a high quality innovative product regardless of a marginal price increase. In Region 2, the TST price point is $4,388.00 which is a 2.5% decrease in price from the original $4,500.00 set previous. This mark-down in price is a result of the careful consideration of the market Region 3 inhabits. The southern region, according to the data, does not generate as much wealth as its northern counterpart. The market seems to be comprised of laggards who are very slow to adopt new products and technology, such as the TST. Therefore, providing a lower price point in the South would result in better sales. For Region 3, the western region, the group decided to maintain the current price of $4,500.00. The decision is due to the data provided for the western region indicating the area is comprised of an extreme mix of lifestyles such as hard-working conscientious consumers and flamboyant movie stars and executives. The group’s thought process for the TST continued for the CVE in terms of price
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This note was uploaded on 07/13/2010 for the course MKT MKT 450 taught by Professor Dr.lee during the Fall '08 term at Tampa.

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A1_Quarter1 - TRIAL DECISION#1 MKT 450 1 MISSION STATEMENT...

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