The Marketing Challenge
Keller Graduate School of Management
This paper was prepared for MM522 Marketing Management, taught by Professor Cullifer
As Vice President of Marketing for Graves Enterprises I need to review two written reports by my Marketing Directors. I have been tasked with the challenge of doubling sales within the consumer and commercial markets within the next year. I will accomplish this by reviewing each report and commenting on if the plan will achieve our goals in each respective market.
Where this idea bothers me is in the retailers themselves. In the You Decide Activity Joshua Edwards states that the target market is “homeowners, females 29-59, with a household income of $75 - $150K”, typically Walmart and K-Mart are associated with lower income families and could miss their intended clientele.
Finally, the third idea presented for the consumer market is expanding into other markets and creating an online shopping option. By entering multiple markets Graves could become a product specialization firm that “makes a certain product that sells to several different market segments”(P.Kotler, 2009, p.229). The introduction of the website and online purchasing offers customers the ability to access information and purchase the products at anytime.
After reviewing the Commercial Products Proposal, I believe the concept is solid however, it would need to have a different pricing structure to be completely effective. The idea to penetrate into a new untapped market is supported by the marketing research. The healthcare vertical offers a vast market for growth. The issue at heart is that hospitals stated price was their most important issue. Here is where the marketer makes his or her money. Will the increased benefits of non-skid and anti-microbial floors be beneficial to offset the increased cost? “A business buyer’s incentive to purchase will be a function of the difference between perceived benefits and perceived costs”(P. Kotler, 2009, p191).
This exercise has shown me the incredible effect that consumer behavior has on every single decision that takes place when a product is...