Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mini Case: Growing the Category or Fighting for Competitors' Customers? You are the marketing director for Hon-ee Suckelz, a pre-packaged drink snack flavored with natural

image text in transcribed
image text in transcribed
image text in transcribed
Mini Case: Growing the Category or Fighting for Competitors' Customers? You are the marketing director for "Hon-ee Suckelz," a pre-packaged drink snack flavored with natural honey instead of sugar. Previous research has indicated your closest competitors are other pre-packaged, high end, naturally sweetened beverages. Further, you are still a fledgling company and only distribute you product in a few U.S. states. Although sales have been successful to date, you would like to assess whether your upcoming marketing campaigns should focus on one of two strategies. Strategy one would be to expand the market: this strategy would use promotional messages that emphasize the all-natural nature of your product compared to other competing products like sodas that have "artificial" sweeteners. Strategy two would focus on attracting consumers away from current competitors. The messaging here would emphasize how "Hon-ee Suckelz" has numerous attractive properties that distinguishes it from other "all-natural" packaged sweetened beverages. To decide between these two options, you would like to understand the current penetration % in your relevant markets. You currently operate within 4 distinct regional markets. Click the icon to view a description of how to calculate the key penetration metrics. Click the icon to view the additional data for the relevant markets. Which market is the most appropriate to adopt a "maaket expansion" promotional strategy? market with the market penetration % of % is the most appropriate to adopt a market expansion promotional strategy (Round to two decimal places) South West East North Mini Case: Growing the Category or Fighting for Competitors' Customers? You are the marketing director for "Hon-ee Suckelz," a pre-packaged drink snack flavored with natural honey instead of sugar. Previous research has indicated your closest competitors are other pre-packaged, high end, naturally sweetened beverages. Further, you are still a fledgling company and only distribute you product in a few U.S. states. Although sales have been successful to date, you would like to assess whether your upcoming marketing campaigns should focus on one of two strategies. Strategy one would be to expand the market: this strategy would use promotional messages that emphasize the all-natural nature of your product compared to other competing products like sodas that have "artificial" sweeteners. Strategy two would focus on attracting consumers away from current competitors. The messaging here would emphasize how "Hon-ee Suckelz" has numerous attractive properties that distinguishes it from other "all-natural" packaged sweetened beverages. To decide between these two options, you would like to understand the current penetration % in your relevant markets. You currently operate within 4 distinct regional markets. Click the icon to view a description of how to calculate the key penetration metrics. Click the icon to view the additional data for the relevant markets. Which market is the most appropriate to adopt a "maaket expansion" promotional strategy? market with the market penetration % of % is the most appropriate to adopt a market expansion promotional strategy (Round to two decimal places) South West East North

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

dy for the function y -10 cos(x) = x Find dy Ax dx

Answered: 1 week ago