As a new vice president of Marketing for Graves Enterprises, makers of consumer and commercial grade floor care products. I have requested, my two marketing directors, who are in charge of either the consumer market or the commercial market, review the various primary and secondary market research available for their respective markets because I am tasked with doubling sales in both the consumer and commercial markets within the next year.
Joshua Edwards, Marketing Director consumer product presented the consumer product proposal, suggesting growing the market methods are as follow:
First of his idea is developing the new product line, which is more effective, more expensive, ...view middle of the document...
The third element of his proposal is to expand into other retail outlets, such as Auto Parts and sell it online. This is very interesting idea, but there is no research show our customer from Auto part market. It wouldn’t be significant sell by trying to put the products into the Auto part market without research. On the other hand, selling online is the new way that we should try because shopping online nowadays most likely become a part of a lot of people. I think this is another good way to expand sell of our products.
Rena Morales, Marketing Director: Commercial Products, presented her proposal. According to the research conducted by the Marketing Research Consultant, I do not believe the majority of the proposal will be effective because:
First of all, the good company will not ignore the consumer and their products. Because “Marketing is the art of attracting and keeping profitable customers --- A) the 80/20 rule state that the top 20 percent of the customers may generate as much as 80 percent of company’s profits,” (Kotler & Keller, 2009) the company need the customer in order to make a profit and keep the business run.
Second of all, she suggests to double price of the product that already doing well in the hospitals and nursing homes market. Again I look at the research conducted for the commercial sector supported healthcare by my marketing Research Consultant, and it show hospitals and nursing homes were surveyed, price position was noted as...