Description

I need your assistance for the following task.  After viewing the attached PowerPoint, answer the 2 questions down below.

 

1.  I was excited to see the product you are looking to market, as my friend was just talking about it this weekend and all its fantastic benefits, especially the reduction of stress and anxiety for mothers. In terms of target market, there is a pretty price tag on the sleeper even though you can rent it monthly. Would there be an income ceiling to who you would market to?  In promotional activities, I agree that social media is a great tactic. Many moms are on social platforms like Facebook and Instagram, sharing their stories and experience. Is there an opportunity to tap into mommy influencers at a cheaper rate than traditional advertising to reach more moms?  Great product choice!

 

2.  Thank you so much for this post as this can really assist many people all over the world that are struggling with the aspect of sleep with their babies.  I really enjoyed reading all about this product and everyone really did an amazing job on the presentation and the product itself!  This product seems very appropriate to the identified market, keeping it as broad as you have with the identified target market is actually perfect for a product like such.  I, myself, can think of ten different friends and family members that would benefit from a product like this and they range from different economic standpoints and from different ages as well.

 

To increase the baby bedside sleeper worldwide market share by 10% is definitely an achievable and worthwhile goal by 2020 as it gives more room to grow in the long run as well.  Taking it steady with a product that could be a massive product within the space and really benefit parents out there is key and that is what you are doing with the 10% increase.  They are achievable and realistic for November 2020 and I could see this product actually surpassing the 10% mark by that time frame or even earlier, if it is marketed correctly and put into the right hands and seen by the right eyes.

 

The one thing that I will say about the goal is that it could be too achievable in a sense.  Have you thought about potentially increasing the percentage of market share for the worldwide market to maybe 15% or even 20% by November 2020.  Utilizing the many different aspects of marketing for a product like this is key, but have you thought about potentially utilizing QVC?  I feel as though QVC could be very beneficial because you would be able to explain how the product works and studies behind the product in a longer manner to ensure that the product is well displayed and the knowledge is put out there.

Get Homework Help Now