Student
Alfred’s Market Plan Paper
Our group tried to target students and creators again. We increased sales and market shares to these two groups, and to the other four groups too. Student market share went from 34.7% in decision 3 to 44.7% in decision 4, Home Users went from 21.9% to 29.5%, Assistants went from 4.5% to 5.4%, Creators went from 20.4% to 24.5%, Managers went from 7.7% to 9.8%, and Parents went from 12.9% to 19.9%.
Our marketing mix strategy didn’t change a lot in decision 4. We kept our product features exactly the same. We did this in order to keep and improve market share for students and creators, who already liked our product features. We also kept our price exactly the same, at $125. We thought that putting the price even with A4-1Command would help us make more sales, since our product has more features, and is higher in quality. Our place part of the marketing mix didn’t change a lot. In decision 3, we had 2 salesmen in channel 1, and 20 in channel 2. In decision 4 we fired one salesman from channel one, and kept 20 in channel 2. We want to keep focus on channel two, since our target customers mainly shop there. Our biggest change in our marketing mix strategy was with our promotion. We thought our brand awareness in year 3 was too low, so we spent $594,000 in decision 4, which was more than any other firm. We had the highest brand awareness of 66.2% because of this increase in spending. We had a 94% customer service rating, which wasn’t bad, but could have been better. We also had a sales rep workload of 91% in channel one, and 100% in channel 2.
Our group agreed that our low amount of sales was a weakness. We made the least amount of profit out of any other firm, even though we had about the same amount of expenses as most other firms. The reason we didn’t make as much money was because we sold less products than any other firm. We made our first goal of the market action plan be to raise sales form
Our group tried to target students and creators again. We increased sales and market shares to these two groups, and to the other four groups too. Student market share went from 34.7% in decision 3 to 44.7% in decision 4, Home Users went from 21.9% to 29.5%, Assistants went from 4.5% to 5.4%, Creators went from 20.4% to 24.5%, Managers went from 7.7% to 9.8%, and Parents went from 12.9% to 19.9%.
Our marketing mix strategy didn’t change a lot in decision 4. We kept our product features exactly the same. We did this in order to keep and improve market share for students and creators, who already liked our product features. We also kept our price exactly the same, at $125. We thought that putting the price even with A4-1Command would help us make more sales, since our product has more features, and is higher in quality. Our place part of the marketing mix didn’t change a lot. In decision 3, we had 2 salesmen in channel 1, and 20 in channel 2. In decision 4 we fired one salesman from channel one, and kept 20 in channel 2. We want to keep focus on channel two, since our target customers mainly shop there. Our biggest change in our marketing mix strategy was with our promotion. We thought our brand awareness in year 3 was too low, so we spent $594,000 in decision 4, which was more than any other firm. We had the highest brand awareness of 66.2% because of this increase in spending. We had a 94% customer service rating, which wasn’t bad, but could have been better. We also had a sales rep workload of 91% in channel one, and 100% in channel 2.
Our group agreed that our low amount of sales was a weakness. We made the least amount of profit out of any other firm, even though we had about the same amount of expenses as most other firms. The reason we didn’t make as much money was because we sold less products than any other firm. We made our first goal of the market action plan be to raise sales form