Its a marketing simulation game assignment question. Buri is a e-commerce retailer, who sells bag packs, purses, wallets etc. Goal- Sell bags that are fashion forward audience (Keep production cost low and sell bags at competitive price). Issue- Original target market is getting older and products aren't meeting their needs. To fix this we are targeting a new market. i.e., Soccer-mom Sam (between 30-39 years old, has kids who are 8-16 years old). Sam is constantly on the move (she goes to her kid's sporting events, for yoga classes and comes up with fun adventure for her family). Both Sam and her husband work( they have more wiggle room in their budget). Sam needs a spacious bag but she doesn't want to sacrifice style. Job- you will decide how to place your bag in market and come up with a positioning statement. Positioning statement should reflect market demands and the bag and price must align with your statement(I have already selected a bag for this that is worth $36 i.e. Leather bag, spacious, timeless, easy to keep organized, has interior pockets and separators). Now help me with selecting a best positioning statement, which one would be best: 1. This tote is perfect for (30-39-year-old) (moms) who are interested in (looking stylish)
and (family activities). It's (high-end) and (packed with pockets), making it ideal for
(staying on trend) and (keeping organized). 2. This tote is perfect for (30-39-year-old) (moms) who are interested in (shopping) and
(family activities). It's (fashionable) and (packed with pockets), making it ideal for
(looking professional) and (standing out in a crowd). 3. This tote is perfect for (30-39-year-old) (moms) who are interested in (traveling) and
(family activities). It's (affordable) and (packed with pockets), making it ideal for
(staying on trend) and (keeping organized). 4. This tote is perfect for (30-39-year-old) (moms) who are interested in (working out)
and (family activities). It's (affordable) and (luxurious), making it ideal for (looking
professional) and (standing out in a crowd). Now help me which positioning statements sounds best as per the question requirements. If you want then you can also help me with creating your own positioning statement apart from the above 4 statements, but do remember one thing don't change the order of the ( ) brackets. I mean u can select from all these 4 statements but put that ( ) exactly at the same order ex 30-39 years old, it has to be in 1st () bracket option, we can not pout it in the last. I hope u understand. There are 3 rounds in thie game. 1. Selecting positioning statement 2. select bag ( already done that part-selected bag of worth $36 with all things included) 3. Pricing ( you must determine it's retail price). Be sure to keep in mind that you don't want to go below the minimum
price of 10% above cost. You'll also want to review your research to determine the optimal price point.
Moving forward, you'll have opportunities to adjust the tote's retail price, so pay close attention to the information you receive about the price
you select.
You will have opportunities to review and adjust this price in the future, Keep an eye on revenue and product performance as you
progress, so you can continually improve your pricing strategy.
Please help me with this one as well. I have no idea what price should I set for this bag.