final marketing project paper

It is safe to say that since these women produced the

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Reddi-wip product. It is safe to say that since these women produced the latter half of the generation X cohort they are very family oriented women. Woman of this age are cooking many meals for their children and most likely at this point in the life cycle their grandchildren. Since our target market is the middle of the baby boomers generation of seventy-six million people it is extremely relevant that the amount of people we will be able to appeal to is very large. Because the market size is so big every dollar spent on marketing and advertising is worth is because we have the biggest and wealthiest target market. The expected growth of this target market is relatively high due to the family oriented use of our reddi-wip product. Right now our target market is one of the biggest with it being a good portion of the baby boomer generation. With that being said this generation has produced many children. Our reddi-wip product is a very family oriented product. Our target market is serving our Reddi-wip product to their grandchildren that are a part of the generation Y cohort. This cohort has about seventy-two million people in it. Consumers who buy our product use it for family occasion desserts. By building a solid customer relationship, customer value, and brand loyalty with our target market there is a definite possibility of our target market increasing from generation to generation. The biggest form of competition in our target market would be an opposing company called Cool-Whip. However, Reddi-wip has had the majority share of our target market for years.
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We hold a competitive advantage, our product is much more user friendly and easy to travel with. Since our target market is usually using our product for a dessert topping at family dinners, it is very nice being able to travel with a can opposed to a tub of whipped cream. With our prices being low and our product being the most user friendly there will be little to no competition. We plan to reach our target market by various marketing and advertising means and we believe that we will be able to do this in a very cost effective way. After identifying our target market we researched further to find the best way to advertise to them to spend our money appropriately. According to SRDS Media Solutions database the best way to reach our target market via text is through Family Fun Magazine. Our target market is very family oriented so Family Fun magazine is the perfect choice to place our advertisements. According to the SRDS database, the cost of a one-time one-page four-color advertisement would be 190,130 dollars. Since Reddi-wip spent 9,715.9 million dollars (Ad $ Summary Database) on advertisements in 2011 we believe this add in Family Fun magazine is both cost effective and beneficial for reaching our target market. Lastly, the Ad $ summary database identified that Reddi-wip spent 3,211.9 billion dollars on cable television advertisements. We determined that the best way to reach our target market was through commercials on the well-known 60 Minutes television show. The commercials would cost about 122,075 dollars but will be cost efficient since it will
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