COB 300 Presentation Studying Questions and Correct Answers
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Course
COB 300
Institution
COB 300
Marketing: total market and target market numbers
Ans 57 million and 2.5 million
Marketing: Targeted Demographics, etc
Ans middle class, 20-50 y/o, hygiene conscious
Marketing: Why are we selling to CVS, RiteAid and Home Goods instead of Walmart and
Target?
Ans We would have to sell to them ...
COB 300 Presentation Studying Questions and Correct Answers Marketing: total market and target market numbers Ans 57 million and 2.5 million Marketing: Targeted Demographics, etc Ans middle class, 20-50 y/o, hygiene conscious Marketing: Why are we selling to CVS, RiteAid and Home Goods instead of Walmart and Target? Ans We would have to sell to them at a lower price, meaning we would not make a profit. Our target market shops more at shops like CVS and Rite aid. More difficult to get into a Walmart and Target as a start up company. Marketing: what are we selling for? Ans retail price of $14.99, and wholesale price of 10.99 Marketing: Why are we different from our competitors? Ans we offer a low cost multifunctional sponge wringer and holder. Our competitors sell a single function holder wringer at either a low or high price. Sponge bath is only real competitor because they are multifunctional but sold at a high price. Marketing: W hat is our marketing objective? Ans market share because our market is mature with a multitude of other competitors, so growing our market share will be vital Marketing: What is our basis of pricing? Ans competitive based pricing because our prices are based on what our competitors are charging for their products. Our fixed and variable costs are a factor too. Price determined by comparing our products to other sponge holders like OXO, SunnyPoint, etc Marketing: What is our marketing strategy? Ans New product pricing to enter the market at a lower price to try to steal market share from competitors Marketing: What is our market maturity? Ans The Kitchen and Sponge Accessories market is currently mature with many competitors holding a stake but not many entering the market. Although size of market has increased since Covid -19 Marketing - Type of market Ans operating in an almost purely competitive market , means that there's not many differentiation of products and therefore no one has a sig nificant influence on the price. Mostly average sized companies, not one big giant company. Marketing - What is a mature market?? Ans many competitors so the growth is neither going up or down, stays at a equilibrium Management: Top Level Manager Ans General Manager Management: 5 main departments Ans 1. Sales and marketing Manager Oversees Sales rep, Marketing research analyst, customer service rep Total of 6 employees 2. Operations manager Oversees Production line associates, warehouse clerk, warehouse associates Total of 12 employees 3. Accounting
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