Assignment 4
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The document discusses strategies for a minor league baseball team in Springfield with a population of 55,000. Key points: 1. The team sells single game tickets for $6 each and targets families as their market. 2. Their objectives are to understand pricing strategies and how pricing impacts auxiliary sales. 3. Their marketing plan includes community events to promote the team and create memorable experiences. 4. The executive summary states the goal is to break even in their first year over 38 home games.
Assignment 4
- 10. Whitespace is a good thing.
- 32. Overview Minor League Baseball Team Single game tickets at $6 a piece. Target Markets Families Population in Springfield- 55,000 Positioning Local, affordable entertainment for the whole family Distribution Tickets sold at box office and team website.
- 33. Objectives 1.Illustrate the design, implementation, and interpretation of research surveys. 2. To use quantitative analysis methods to develop a "scaled" pricing strategy for a perishable service that reflects constant costs per production unit. 3. Understand the relationship between pricing and its impact on the sales of auxiliary products.
- 34. Marketing Plan 1.Promote team through various events through out the summer. 2.Get community involvement before the start of the summer. 3.Events create unique and memorable experiences that other IMC tools can not.
- 35. Executive Summary Result Understand Market better. Maximise profit. Action Through survey questionnaire responses, help Buckingham build a Price Matrix Goal Break even the first year. 38 home games.
- 37. MMBC Strong Brand. Top market position in premium segment in West Virginia. Popular among blue collared working man. Family owned independent image.
- 38. Situation Analysis 1. • High Brand equity in premium segment. 2. • Mostly sold at off premise location. 3. • 2% decline in revenue. 4. • 4% growth in light beer segment due to youth preference.
- 39. How to capture Light Beer market segment. Its effect on Brand Value and current product. Investments and returns on the new product. Objective
- 40. Option 1 Introduce Light Beer by Mountain Man Brand name. Advantages •Increase in revenue. •Low advertising costs. •Cater to a market growing at 4% CAGR. Disadvantages •Product Cannibalization •Brand erosion. •May not be perceived well.
- 41. Option 2 Introduce Light Beer by a different brand name. Advantages Disadvantages • Expected increase in revenues. • Cater to the growing and untapped market. • No brand dilution, no product cannibalization. • High advertising costs. • Can not leverage strong brand name.
- 42. Analysis • A complete analysis of all the data reveals that the product is expected to cover all its investment costs and become profitable by 2007. • Launching Mountain Man can uplift the brand value. • Mountain Man Light will help increase company’s market share.
- 43. Chris Prangel should launch Mountain Man Light..
- 45. Over the years, numerous brands have met untimely deaths. Some have steadily declined into oblivion while others have been revived. Significant investments made to build the brand also lost. New product introductions are both expensive and risky.
- 46. 1. Examine how big companies have revived after facing Brand Decline. 2. Analyze conditions that may lead to brand decline and brand death. 3. Highlight signs that may suggest an impending decline. 4.Offer insights into assessing the viability of reviving a brand. 5.Suggest various approaches that can be used to strengthen the brand and give it a second life..
- 47. Address the cause of decline. Understand brand’s promise and why it may have failed to maintain its relevance. Adjust this, and educate the market if necessary.
- 50. •A frame of reference signals to the customers the goal they can achieve throughbusing the brand. •It may change as the product goes through its life cycle.
- 51. •Think through the points of parity your brand needs to have with competitors if it is to be accepted. • New brands – normally points of parity are thought of new brands. • Established brands – over time points of differentiation becomes points of parity.
- 52. Three types of difference: •Brand performance – Does the product do what it says? •Brand imagery –Who uses the brand and under what circumstances? •Consumer insight associations – show you know the customer
- 53. •Build awareness before position. •Talk about what customers don’t care about. •Invest in differences that are easily copied. •Focus too much on the competition. •Reposition unless absolutely needed.