BU362 Lecture Notes - Lecture 6: Sensitivity Analysis, Marketing Mix, Focus Group
Document Summary
What kind of case is it: looks like a new product development case. Introduce a new product with 0 brand awareness to a very stable market. Decision: develop a marketing strategy for php in a market that has not changed in a number of years. Objective: establish the new product and gain market share (50%?) Timeframe: urgent because he already spent ,000 has been paid, you have 17 years of patent protection / patent fro 17 years, for starters, target segment needs to be decided. Importance (usually it is important, otherwise why bother): new business opportunity, huge market potential. Who are the stakeholders: mt: owner / revenues, profits, right target segment is key / diversification, rm: marketing director / promotion side issues is more important. Institutional segment is (relatively) small but easier to reach (no need for wholesaler, retailer, etc. ) Home segment is large but requires more marketing efforts and expertise and resources (full-blown marketing campaign is needed)
