Question
Instructions: You are Rhonda Kellman, former co-founder of the Boston Beer Company and recent founder of Moonshot Beer. It is clear that your first attempt
Instructions: You are Rhonda Kellman, former co-founder of the Boston Beer Company and recent founder of Moonshot Beer. It is clear that your first attempt at starting up the company was fraught with problems, as you failed to perform even the most basic of business principles such as patenting your idea and researching your industry.
Pretend that we travel back in time to the start of Moonshot Beer in 2005- you now miraculously have a second chance to make things right. Please provide the following information by doing the appropriate research (from your research you can use present day numbers because it's difficult to find 2005 data):
1. Perform an external analysis of Moonshot Beer, including
a. PEST analysis, to identify what external items might impact your business and how
b. Plot a perceptual map of the United States beer industry, using two characteristics that consumers think are most important (research this)
2. Choose your target market
a. Segment the consumer market and choose your specific target market for Moonshot. Be as descriptive as possible about your target market, and explain why you made your decisions (also please describe any assumptions you made)
3. What is the size of your target market
a. This would be the number of potential consumers who fit within the characteristics of your target market. You can find this through research.
4.If each potential consumer in your target market purchased one bottle of Moonshot at $5, how much revenue will you make.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started