BU362 Lecture Notes - Lecture 6: Old El Paso, Competitor Analysis, Target Market
Document Summary
1 clear description of the problem issues. Growth strategy: how to increase sales in a low growth market. Choose the optimal marketing strategy to increase sales by 5% within a year. 5% sales growth in a market with 3% growth rate. Target market kit consumers component consumers combination consumers. Positioning family experience creates family fun children making their own foods products variety of choices price. Promotion tv ads radio sampling place intensive distribution (95%) Placement: least- traffic area in the stores. Experience and expertise relationship with parent company weaknesses losing market share consumers might get bored. Time poor society meal only takes 20 minutes to make. Expand their brand awareness to non mexican consumers. High cost for placement of the products. Consumers might consider mexican foods, hard time to prepare. Buying behaviour planned purchase, no impulse buying, 80% of consumers buy in grocery stores (in store display, sampling), low purchase frequency. Competitor analysis (who are they, strengths, weaknesses, strategy)
