Martha and the Trap-Ease America investors believe they face once in-a-lifetime opportunity. What information do they need to evaluate this opportunity? How do you think the group would write its mission statement? How would you write it?
Once in-a-lifetime opportunity, specifically in the case of selling a product can be best availed by:
Developing effective strategic plans
Setting unique and more achievable goals and objectives
Creating strong customer relationships
Segmenting and targeting the market and the proper positioning of the product Deciding effective marketing mix
Managing the marketing process that is analysis, planning, implementation and control.
Mission Statement Written By the Group:
We sell new and improved mouse traps!
Mission Statement Suggested:
To endow with its shared sense of purpose, expertise and professional approach, Trap-Ease will strive to provide innovative and solution oriented product specially for a good housekeeping!
Question No. 02:
Has Martha identified the best target market for Trap-Ease? What other market
segments might the firm target?
Martha has selected the appropriate segment of market for these traps, the women, but its sale can be extended to a few other segments such as the small shops and stores or may be in office setups.
Question No. 03:
How has the company positioned the Trap-Ease for the chosen target market? Could it position the product in other ways?
The company has positioned the product for chosen target market by:
Displaying the product at booths in trade shows
Running feature articles in magazines and articles in various popular press and trade publications Subjecting the product in numerous talk shows.
The company has given the image of Trap-Ease to the…