How bcg matrix would be useful for your current organization

Assignment Help Marketing Management

Reference no: EM133201941 , Length: 6 pages.

Assignment: Marketing Strategy

Question I

The Tayto chip company has established itself in Ireland as a leading brand in packaged salty snack foods. Tayto is most well known for their potato chip line. The chips are only packaged in 40 gram (1.29 ounce) single-serve bags. The consumer purchase location is approximately equally divided between pubs, convenience stores, and supermarkets (where it is sold in multi-packs). The most popular flavor is cheese and onion, this is followed by salt and vinegar. Other flavors include roast chicken, beef and onion, prawn cocktail, as well as a few others. The company is currently considering expanding into the U.S. market. The company has hired you as a consultant to offer them some marketing insight for this venture.

1. Marketing managers recognize that there are 4 marketing variables a firm has direct control over in their business (sometimes termed the marketing mix). Please list the four and discuss a few points of consideration for Tayto in each of these areas.

2. Managers also recognize that there are 5 environmental forces (sometimes termed "uncontrollable" variables) that they must continuously monitor through environmental scanning. Please select three of these factors and discuss why each should be a key area of concern for the Tayto company as they consider a US product launch.

Question II

1. Provide a brief SWOT for your current organization. If you wish, you may select a company you formally worked for or another firm that you are familiar with.

2. Discuss how the BCG matrix would be useful for your current organization. If possible, note where specific products or services would fit into the model. If you wish, you may select a company that you formally worked for or another firm you are familiar with.

Question III

As Tayto considers the launch they recognize that it would be prudent for them to use market research to better understand the U.S. market. Please provide a general overview of a market research plan for Tayto. In this effort please explain the steps involved in a market research process. Also you should note a few of the specific considerations that should be addressed in such a market research project. In particular you should suggest a research methodology that may be appropriate for them as they attempt to gain insight into the US consumer and market.

Question IV

Smartwatches, such as the Apple Watch, are in the growth phase of the product life cycle. Consumer behavior suggests that influences on consumer decision-making can include elements that may be considered: social, marketing, situational, or psychological. Please describe how any 2 of these areas of influence may contribute to a consumer's decision as to whether to purchase a smartwatch. To answer this question you do not need to be overly familiar with smartwatches.I am more generally interested in your understanding of how these factors play a role in the acceptance of a consumer product.As much as possible, please try to relate your response to information garnered from the chapter 3 notes or text.

Question V

For this question I would once again ask you to consider your current organization. What would you expect the "information search" stage to consist of for one of your potential customers? Meaning, how (or to what extent) would a person (or institution) gather information when considering a product or service that you and your competitors offer? If an "information search" stage would not be a good fit for your current affiliation, please select a company you formally worked for or another firm you are familiar with to answer the question.

Question VI

Consider a company you are familiar with to answer the following question.This may be your current or former employer or any other organization.

What are some of the segmentation approaches (as discussed in the readings) that are currently utilized or could be considered for your selected company?Also, how would you describe the positioning of the company?

Reference no: EM133201941

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