Description and characteristics of the product category

Assignment Help Marketing Management

Reference no: EM13937989

Part 1-

Andy recalls a method to simplify the definition of a domestic market for a product category (e.g., chocolate). He wants to use the concepts of object, objective, occurrence, outlet, and opposition, which can stand for factors responsible in drawing up the boundaries for the definition of the market of interest (Kotler, 1988).

Andy is meeting with you and other marketing staff to discuss this approach for the domestic and Belgian markets. You are to use the following concepts and determine their factors to describe and compare the U.S. and Belgian markets.

• Object: The description and characteristics of the product category
• Objective: The customer's main motivation(s) to buy the product
• Occurrence: The typical situation in which the product is used or consumed by the customer
• Outlet: The places where the product will be available to the customers for purchase
• Opposition: The customer's perception of the quality of the competing products

You are to also illustrate the information by developing a matrix placing the 5 concepts in the y-axis and the countries in the x-axis. Cells in the matrix should contain brief descriptions of the factors for the corresponding country. The definition of the market should incorporate factor information from each concept.

Reference

Kotler, P. (1988). Marketing management: Analysis, planning and control. (6th ed.). Englewood Cliffs, NJ: Prentice Hall.

Part 2-

Now that Andy has defined the market, he next needs to determine the unique characteristics possessed by his brand. At least 2 key characteristics should give Andy the differential advantage needed to successfully position the brand versus the competition. Andy's father challenged him to estimate the brand's potential demand in the Belgian market using these 2 characteristics.
Andy has asked you to develop a proposal containing a graphic showing a breakdown of the estimated demand by province and type of chocolates.

• Propose 2 ways to position the product versus the competition.
• Discuss other variables that you think will affect the demand of the product in the Belgian market (e.g., the state of the economy).
• Show the statistics in a table format, followed by the graphic.
• This proposal must also include an explanation of the variables used to estimate demand beyond the key characteristics and their significance.

Reference no: EM13937989

Questions Cloud

Write a paragraph that analysis of impact of new standard : Write a paragraph presenting an analysis of the impact of the new standard on Roswell Manufacturing. If you were a member of the FASB and met Martha Cooper at a professional meeting, how would you respond to her objection?

Find the annual equivalent worth for options : Option 1 is a fully automated machine with an initial investment of $ 6,000,000 with an annual maintenance cost of $12,000. The machine has a salvage value of $80,000 at the end of 25 years. The cost of producing each part is $10 each. Find the Annua..

Differentiate the following expressions : Differentiate the following expressions:aa. y=2x2-3x2+5x-7b. y=3/x-x2+8 c. y=4t2-16/t2+6t-1

What is the discounted payback of the project : You invest in a project that costs $1,000,000 and would yield a EBIT of $300,000 per year. The interest expense is $20,000 and the tax rate is 20%. The EBIT is expected to increase by 1.8% every year. The MARR is found to be 12%. What is the discount..

Description and characteristics of the product category : Object: The description and characteristics of the product category and Objective: The customer's main motivation(s) to buy the product

Ball thrown vertically upwards : Fig 1 The period T of a pendulum shown in Fig 1 is defined as 1 2 L T g where 2 g 9.8m/s is acceleration due to gravity and L is the length of the pendulum. (i) If L 1m determine the period T. (ii) Make L the subject of the formula.

Calculate the sum of the present value of total dividends : General Mills (NYSE: GIS) is a large manufacturer and distributor of package consumer food products. Benoit Gagnon, a buy-side analyst covering General Mills, has studied the historical growth rates in sales, earnings, and dividends for GIS, and also..

Circuit diagrams and see that the reset affects : You need to look closely at your circuit diagrams and see that the RESET affects all three circuits, as the flip flop will be changed if the reset is faulty, this in turn will affect both other circuits, you need to go into detail with this as it ..

Calculate sales needed to achieve a profit : Calculate sales needed to achieve a profit of $1,800,000, assuming the current mix. (Round to the nearest dollar.)

User Account

All Pages