The product is an recycled green pen range (different colour packaging) marketed at school children.
1) Introduction
To refresh the marker's memory, identify the industry you used for the first assignment and briefly summarise the major trends you identified for your firm.
I have used the pen industry. Pens is a new company with a focus on providing recycled user friendly products and is located in the Campbelltown area. Pens is about to release a recycled plastic environmentally friendly (Green) pen range. The pen range will use all recycled material and will have different colours.
The pen market is already established it is a mature market. Consumers are looking for deep seated reason to buy products.
Pens product need to be competitively priced to ensure sustainability in the marketplace.
Manufacturing and keeping costs low and the ability to meet supply demands will be important
2) Target market
Identify a chosen target market for your organisation. In order to satisfy your customers you need to know their characteristics and needs. Describe the characteristics of your target market using segmentation variables.
3) Setting marketing objectives for your organisation
Having identified your target market and the trends facing your organisation you are ready to identify your organisation's marketing objectives. This means your objectives should relate to things such as consumer awareness, market share, targeting a specific segment, utilising a new distribution channel etc. As a rule-of-thumb each trend should translate into a marketing objective (e.g. for a fast food chain, the trend towards healthier diets suggests introducing a healthier menu as a marketing objective for the product strategy). But to make things easier, just identify your four major MARKETING objectives.
4) The marketing mix
Having identified your target market, you now need to devise a marketing-mix. Remember market planning is a process, so your marketing mix should be specifically designed in response to your situation analysis, target market's needs and marketing objectives.
5) Conclusion