Product Selection – semisweet chocolate baking chips.
Persona
Key Factors: 29-39; male and female; work connected with brain activity; 85 % with a diploma; annual outcome: $ 50,000; married; two-three children (7-15 years old)
Persona: Young family with children.
The family consists of a married couple (34 years old both) and two children (12 and 15). They live in a suburb in Oregon. Wife and husband have diplomas of higher education. She works as a writer while he is a program creator. The couple is wealthy and has two aged school kids. The family sticks to a healthy lifestyle, likes traveling and walking and often goes into family-oriented activities. They do not have strict budget limitations and often use online shopping. The family chooses to buy brand products as they believe these have higher quality.
Promotion
The first marketing channel: television advertising strategy. Ahakwa (2021) points out that television advertising is the most relevant for promoting edible products. The target customer loves family-oriented activities; thus, watching evening movies together is the preferable variant for such families. Therefore, they will watch the ad and probably get chocolate chips to make their evening cozier.
The second marketing channel is outdoor advertisement. The family likes walking, thus they will often see the boards on the streets and thus have a greater chance of purchasing the product for their children or themselves.
Price
The family is wealthy and sticks to a healthy lifestyle, thus they are likely to buy more expensive products caring for their children’s health.
Pricing Factor: Competitor pricing.
The quality of the product is high; thus, the company should use pricing above the competition strategy to show superiority over the others.
Pricing Strategy: Price skimming.
The main advantage of price skimming is that this strategy will help develop a solid client base for the new product and prove itself superior to competitors’ companies. However, the disadvantage of the tragedy is that the unexpected price fall can make the first clients upset with the company.
Place
According to the recent changes in the market, e-commerce has become an essential part of the company’s marketing strategy. The company can be retailers and distributors themselves, thanks to the online shopping customer habits.
Distribution channel: Direct sales.
The company, providing high-quality online services and delivery, will level its popularity as a self-established producer. The target clients are likely to use the website or the brand company store to purchase the products.
Product
To provide successful marketing for the product, it is critical to comply with two factors. The first is to improve the quality of the product constantly. Thus, the target customer will have the desired healthy product of high quality. Then, the second one is the accordance with the customer experience. Collecting it will help to adjust the message to build relationships of trust with the customer.
Bringing the new product will help the company increase awareness of its brand because it targets a wide range of customers. The percentage of young families in the country is relatively high. Thus, another high-quality product suitable for many will establish a profitable company’s reputation in the market and raise its competitive performance.
Evaluation
Quantitative Data-collection Tools
The first tool to use for evaluation is structured observation. It will help collect precise in-code information about target customers. Analyzing their requests, needs, and behaviors will help adjust the marketing plan to provide more profits to the company.
The second tool is collecting data according to the different types of records or documents. For example, creating the customer journey maps and analyzing the public records will help learn the society’s constantly changing requirements and target customers.
Qualitative Data-collection Tools
The first tool is conducting different surveys. For example, online surveys will not take much customers’ time. Thanks to that, the company will get a direct review of the customers’ experience. Thus, there will be the opportunity to change the product for the better.
Another way to collect qualitative data is to take interviews. For example, to save time, it would be good to create an application where customers can recommend how to improve the company. Thus, the company can lead a customer-oriented strategy and get more benefits as a result.
Reference
Agba E., Ahakwa, I., Kwame, B., & Yang, J. (2021). Exploring the impact of traditional communication channels on customer purchase decision. SEISENSE, 1(1), 31-44. Web.