Marketing

1721 words - 7 pages

A1. New Products and Services The two new products I am suggesting we start to market and provide are a black bean burger and a tofu burger. These burgers would be a great addition to our diverse menu of foods. I believe Childers Diner could profit from reaching another consumer market consisting of vegetarians and vegans. With our headquarters being located in Tulsa, Oklahoma, and having over 150 locations across the United States, targeting the Australian market would not only boost revenue and opportunities it would be an exciting adventure. Propose new two products or services the company can sell or offer to a global market. You should provide the name of your business, where it is located in the U. S., what it currently sells/produces/manufactures, your 2 new products/services, and the foreign country you are going to test market your products/services in. We strongly recommend students select one foreign country (outside the U. S. ) to focus their responses on. The company can be an existing or one you create. The 2 new products or services must be new to the (one) company you select. The 2 new products or services do not need to be new to the world, just to the company you select.

Identify need and existing global market. Provide a logical discussion of 3 research methods from the chapter readings the candidate theoretically used to determine that there is both a need as well as an existing global market for the products and/or services. The product or service selected must generate a profit for the organization. Use the list of research methods (e.g. surveys, focus groups, etc. ) in Chapter 3 Section 5b of the Marketing Strategies text to select the 3 research methods you propose to use to determine the need in the country you selected.

o Review: Marketing Strategy Chapter 3 "Collecting and Analyzing Marketing Information" o Review: Marketing Chapter 5 "Market Research and Information Systems" o Review: Marketing Chapter 6 "Target Markets: Segmentation and Evaluation" Read the following supplemental article: "10 Questions to Ask Before Determining Your Target Market".
Read the following supplemental article: "Five Recommendations for Using Existing Segmentation Online." Read the following supplemental article: "Get on Target." Read the following supplemental article: "Precious Bundles of Insight." Read the following supplemental article: "How to Narrow Your Target Market".
View the following supplemental video: "Target Markets: Segmentation and Evaluation".

o Review: Marketing Chapter 8 "Business Markets and Buying Behavior" Our biggest company advantage by offering the black bean burger and tofu burger are we are targeting a large market of vegetarians and vegans that not many other fast food companies are. With our competitors, Wendy's, Mc Donald's, and Burger King, none of them offer any options that are vegan or vegetarian-friendly other than a salad. Most people want more variety and options than just y...

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