Homework: Marketing Management
A hands on review- I expect your application of concepts review to be approximately 2 to 3 pages; to include references from the APUS Library system (failure to include such references will detract from your grade on the homework), and that the paper be written in proper grammar/spelling. The intention of this homework is to apply the concepts to real world situations. Write well--Do your best work. Be sure to cite your work!
A group of investors has purchased from an inventor the U.S. rights to sell a patented, innovative mousetrap. The group has hired Martha House to manage the company that includes assuming responsibility for sales and marketing.
Despite the innovativeness of the mousetrap and its success at gaining public attention, sales are disappointingly slow. Martha finds herself wondering why the world is not beating a path to her door, as Ralph Waldo Emerson would have predicted.
i. Martha and the investors in Trap-Ease seem to face a "once-in-a-lifetime opportunity." What information do they need to evaluate this opportunity? What do you think the investor group would write as its "mission statement?"
ii. Who is Trap-Ease's target market? Are there other possible market segments that the firm could target?
iii. How should the product be positioned relative to the selected target market? Are there other ways to position the product?
iv. What marketing mix should Trap-Ease establish?
v. Who is Trap-Ease's competition?
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.