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Marketing Simulation Report "PirateEye Marketing plan"
Pages 8 (2008 words)
MARKETING SIMULATION REPORT Executive Summary The present report is a presentation of the outcome of a marketing simulation, which was undertaken as a brand manager for the introduction of the new product, PirateEye. The marketing simulation was taken on a medium term basis, comprising of six clear years of brand strategies and projections.
To achieve this aim, a number of specific objectives need to achieved, as well as the need to undertake specific marketing obligations. For example, through the report, the target market is identified to be boat owners within the local marine transport business. Within this target group, a segment of smaller boat owners have been identified. One of the consumer behavior identified for this group is that they have demand for high technology security gadgets to detect pirates before the pirates get onboard the ships. There is presently an existing competitor that has monopolized the market. It is for this reason that a number of promotional strategies including the use of discount coupons and reduced sales are suggested as a key strategy in getting new customers. The report also identifies that using direct sale representatives who already work with the boat owners as distributors would have an added advantage of ensuring that rapport between the owners and the company is easily established. Introduction When dealing with a monotonous competitor who has monopolized the market for such a long time, it is very difficult to penetrate the market and make any remarkable impressions. But this could however be made possible in the midst of hard work and dedicated service. ...
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