Wing and a Prayer
Marketing Analysis – Wing and a prayer
1. Critical issue/Challenge Identification
Current Marketing Strategy
Marketing Mix:
Product
-Bungee jumping (2 types of jump) service -Wing and a prayer t-shirts -Baseball caps -Personalized Video -Colorful posters
Place -Western Fair in London -Ontario -Zurich Bean Festival
Promotion -Sound System (hip hop, dance, and house, rap music) to build crowd -Banners and Souvenirs -Attract people who are passing by their tent
Price $65 for first jump $55 for second jump $10-20 for shirts and baseball cap $4-6 for posters $25 for personalized video Target Market: -Thrill-seeking male aged 18-25 -People who want to experience adrenaline rush and excitement -Usually middle to upper class and has the money to spend for fun activities
2. Alternatives/Analysis Critical issues on Wing and a prayer
a. Start the business to earn money for University in fall
b. Stefan and Zach have no experience in starting a business which involved big investment
c. Safety issues in the Wing and A prayer business
A. Start the business to earn money for University in fall
PROS
-They can return to school if they earn the money
-If they are successful with the business, they will have extra income to continue the business for the next summer
-It can be a business experience for them and also to see if the activity can earn a profit
CONS
-Stefan and Zach may fail their first business
-No money to get back to school
B. Stefan and Zach have no experience in starting a business which involved big investment
PROS
-They can learn from their mistakes
-Opportunity to see if the business works or if it will make a profit
-Wing and a prayer may be successful as it is new in the market
-The business may have a huge income if it turns out to be successful
CONS
-The business has a huge chance of failure
-They will not be able to go back to school -A big risk since there
1. Critical issue/Challenge Identification
Current Marketing Strategy
Marketing Mix:
Product
-Bungee jumping (2 types of jump) service -Wing and a prayer t-shirts -Baseball caps -Personalized Video -Colorful posters
Place -Western Fair in London -Ontario -Zurich Bean Festival
Promotion -Sound System (hip hop, dance, and house, rap music) to build crowd -Banners and Souvenirs -Attract people who are passing by their tent
Price $65 for first jump $55 for second jump $10-20 for shirts and baseball cap $4-6 for posters $25 for personalized video Target Market: -Thrill-seeking male aged 18-25 -People who want to experience adrenaline rush and excitement -Usually middle to upper class and has the money to spend for fun activities
2. Alternatives/Analysis Critical issues on Wing and a prayer
a. Start the business to earn money for University in fall
b. Stefan and Zach have no experience in starting a business which involved big investment
c. Safety issues in the Wing and A prayer business
A. Start the business to earn money for University in fall
PROS
-They can return to school if they earn the money
-If they are successful with the business, they will have extra income to continue the business for the next summer
-It can be a business experience for them and also to see if the activity can earn a profit
CONS
-Stefan and Zach may fail their first business
-No money to get back to school
B. Stefan and Zach have no experience in starting a business which involved big investment
PROS
-They can learn from their mistakes
-Opportunity to see if the business works or if it will make a profit
-Wing and a prayer may be successful as it is new in the market
-The business may have a huge income if it turns out to be successful
CONS
-The business has a huge chance of failure
-They will not be able to go back to school -A big risk since there