Trap-Ease America Essays

Trap-Ease America Essays Trap-Ease America Paper Trap-Ease America Paper Has Martha identified the best target market for Trap-Ease? In other to ascertain whether Martha has identified the best target market for Trap-Ease we will look at what is a market and what does target markets involves. A market is the set of actual and possible buyers of a product or services and marketing involves the process by which individuals and groups obtain what they need and want through creating and exchanging products and values with each other. Before targeting a market segmentation has to take place. The division of a market into different homogeneous groups of consumers is known as market segmentation. Rather than offer the same marketing mix to vastly different customers, market segmentation makes it possible for firms to tailor the marketing mix for specific market, thus better satisfying customer needs. A market segment should be: -measurable -accessibly by communication and distribution channels -different in its response to a marketing mix -durable -substantial enough to be profitable The four primary bases on which markets are segmented are: geographic – this is based on regional variables such as region, climate, population density, and population growth rate -demographic – is based on variables such as age, gender, ethnicity, education, occupation, income and family status -psychographic – based on variables such as values, attitudes, and lifestyle -behavioral – based on variables such as usage rate and patterns, price sensitivity, brand loyal ty and benefits sought When the market has been segmented the firm now has to choose its target market. A target market is a set of buyers who share a common need or characteristic that the company decides to serve. The firm does that by evaluating the attractiveness of the segment and the fit between the segment and the firm’s objectives, resources, and capabilities. Martha has chosen women as its target market but Martha has to consider whether the woman is the decision maker when it comes to home improvement items like mousetraps. Martha could try targeting males. The men who see it as their role/duty to deal with pest control in the home thus protecting the women from the gruesome nature that is usually involves in the process. In the case of Trap-Ease the mouse maybe trap alive in the trap and women may not want to deal with that aspect but the man may have no problem of disposing the trap with a live mouse. Businesses such as offices and warehouses are another option Martha may wish to consider. Business owners who need to safeguard their supplies and equipment can well be served by the Trap-Ease. Martha should appeal to these people showing them the benefit of using the Trap-Ease instead of poison or the traditional mousetrap. One of the benefit is when poison is used the mice may end up dead anywhere and stink up the office environment before it is found whereas the Trap-Ease you would know exactly where you place it and can dispose of it in a timely manner. The food service industry such as restaurant, canteens is yet another market Martha can target. The food service industry has to maintain certain health standards one of which is maintaining a pest free environment. Martha can show them the benefit of using the Trap-Ease to achieve these standards thus better serving their customers and at the same time protect their food supplies, ingredients and their business from being infected by mice. Pest control companies would make a great target market for Martha. These companies specialize in finding solutions for their customers and Martha needs to convince them that Trap-Ease would be a great product for their clients. Since a rancher invented the Trap-Ease, ranchers could be a target market because it seems that the inventor was having a problem with mice and other ancher like him can be experiencing the same problem. Martha could use the retired rancher to reach this target market. Describe the current marketing mix for Trap-ease. Do you see any problems with this mix? Marketing mix are the variables that mangers can control in order to best satisfy customers in the target market. A typical marketing mix includes the product offered at price, with some promotion to tell customers about the product and a way to reach the customers’ place. This is often referred to as the 4P’s: Product, Price, Place and Promotion. The product is the physical product or service offered to the consumer. Price is the amount of money the customers have to pay obtain the product. Promotion represents the various aspects of communicating information about he product with the goal of generating a positive customer response. Place is about getting the products to the target customers. The following table summaries the marketing mix, including a list of the aspect of each of the 4Ps. ProductPricePlacePromotion FunctionalityAppearanceQualityPackagingBrandWarrantService/SupportList PriceDiscountAllowancesFinancingLeasing optionsChannel membersChannel motivationMarket coverageLocationsLogisticsService levelsAdvertisingPersonal sellingPublic relationsMessageMediaBudget The marketing mix for Trap-Ease is: Product:Trap-Ease innovative mousetrap Price:Retail = $2. 49 Place: Large Retailers, Safeway, Kmart, Hechingers CB Drugs Promotion:Trade shows, Home-and-Shelter style magazines, Publicity. The Trap-Ease is an above average product that provides a much needed customer solution. There is no variety in the packaging therefore customers do not have a choice as whether they want a package with one or two. There is no mechanism to ascertain whether customers are satisfied with the product. The price is very high when compared to its closest competitors and from the customer’s point of view that may not be worth the added value in the product itself. The retailers are given no motivation to sell the product in their stores and no incentive is offered to entice consumer to purchase. Promotion is one in a medium that is not communicating the message to the correct targeted market. Women are a small segment of the total â€Å"hardware† customers. Good housekeeping and other home and shelter magazines may not appeal to many persons in the targeted market. As it stands right now the product has to sell itself because limited advertising is being as a result the public may not be aware of the product. There is not sufficient communication between Martha and customer or potential customers. Trap-Ease is located in the top hardware, grocery and drug chains; this is not offering enough market coverage. Transportation of orders to retailers is not being done in a timely manner. The Trap-Ease is not sufficiently expose to the customer. The proximity of the stores where the product is sold in relation to where the customers are maybe impacting on the availability of the product to consumers. How would you change Trap-Ease’s marketing strategy? What kind of control procedures would you establish for this strategy? I would use the product innovative aspect to promote it to a larger potential clientele. I would change the fact the design just a little to ensure that once the mouse is trap it dies instantly or offer the customer a choice of purchasing one where the mouse dies instantly or it is caught alive. I would also look into the possibility of packaging the Trap-Ease with the bait as part of the package. Customer may only need one Trap therefore I would offer packages of one and packages of two. I would lower the price for the initial market penetration. This will help to increase sales by attracting new customers or attract them from the traditional product. Once