I. Problem definition:
Trying to find a marketing and distribution strategy that would help the company reach its revenue goals.
II. SWOT Analysis:
• The company raised additional capital to fund its business operations and had more than three dozen different investors • The firm will be launching the first commercially available biotech animal in the U.S • Yorktown Technologies grabbed the attention of the media and the news of the upcoming Glo fish launch was on the front pages of many famous magazines • $ 4 million out of $ 700 million was spent on Yorktown Technologies products by consumers. • Yorktown technologies’ suppliers and distributors have been regular suppliers of tropical fish to the 3 major retail chains • The company was given exclusive rights to lines of red, green, yellow and orange fluorescent zebra fish which provided the company with an effective barrier to entry against potential competitors
• Generated more than $ 120,000 loss in 2004
• There is no enough money to support a national advertising campaign • Not being able to sell the Glofish in California which is an important market with high population • High demand on limited supply
• Some countries are still not convinced with the safety of the GloFish
• California is a very important market that has a population of 33 million who are willing to buy innovative products • International markets where the fish can be sold mainly Asia • Zebra fish are known to be very popular ornamental fish with more than 200 million sold in the U.S alone • Two dozen regional wholesalers located throughout the country distribute freshwater ornamental fish to an estimated 5000 retail establishments for sale to consumers • Total sales of pet stores are increasing at an annual rate of 7% • Consumer market for freshwater ornamental fish and...