Marketing similation report (pirateeye marketing plan) - Term Paper Example

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Marketing similation report (pirateeye marketing plan)

The target is however with the smaller boat owners, who form close to 35% of the entire market strength. A consumer behavior analysis undertaken shows that the consumer base are in high demand for high quality technology based system that can actually track pirates even before they get on board boats. This sets the basis for the marketing mix, whereby high quality products that are not too expensive are supposed to be produced for the market. The introduction of PirateEye to small boats would also serve as a very fertile breeding ground for owners of marine transport to test and comprehend the quality and value of the system. With this opportunity, it would be easier to switch to competitive marketing for larger boats and ships in the medium to long term basis. Still on the application of the STP, it will be emphasized that the business to business segmentation criteria, commonly referred to as B2B shall be used. This is because this segmentation criterion gives the marketer the opportunity to assessing most aspects and areas of market including demographics, psychographic, behavioral, and environmental. This means that the B2B is a multi-dimensional approach that would help in meeting all the marketing goals set out by the company. ...Show more

Summary

MARKETING SIMULATION REPORT Executive Summary The report is the qualitative presentation of the marketing simulation that was undertaken for PirateEye, which is a security surveillance device for marine transportation. A six year marketing plan was developed to be used in entering into the marine transportation industry as a new entrant…
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