Frozen Dinners Marketing Strategy

You are writing two marketing strategies, and each strategy has five parts; therefore, IT IS EXPECTED THAT this PAPER WILL BE 7 PAGES (1/2 to 1 page per part).  develop two marketing strategies for the below produtcs : - frozen dinners Remember there are two parts to a marketing strategy:   Part 1:  determining the target market   Part 2:  developing the marketing mix Read the "Toddler University" case (see Attached).  This case will assist you with this assignment.  From the case, you will learn that the company sold children's shoes.  They identified four segments of the marketplace and selected one segment as their target market. FOR YOUR ASSIGNMENT, IDENTIFY TWO DISTINCT TARGET MARKETS FOR YOUR PRODUCT, AND WRITE A MARKETING STRATEGY FOR BOTH.  THE GOAL OF THE PAPER IS TO RECOGNIZE HOW THE MARKETING MIX WOULD DIFFER FOR THE TWO GROUPS.  BE SURE TO PROVIDE AMPLE INFORMATION ABOUT EACH TARGET MARKET IN ORDER TO FULLY DEVELOP THE MARKETING MIX. For example, in the TU case, one segment (the target market that was selected by the company) was attentive parents and another segment was economy oriented parents.  The case gave a description of these types of parents.  You need to develop two target markets and write full descriptions of the consumers in each group.  The second part is developing the marketing mix.  In the TU case, we have information about the four elements of the marketing mix.  If we looked at promotion in the TU case, the company determined that attentive parents wanted to be educated about the product and learn a great deal about the shoe so the company developed an ad that contained a lot of information.  In contrast, economy oriented parents would be focused on the price of the shoe and would not seek as much information.  The ad directed to economy oriented parents might be brief and merely show, in large print, the price of the shoe next to the product. Here is another (very brief) example.If the product were lawn mowing.  One target market might be wealthy consumers with little time.  This market might hire a lawn care service.  This is the product section of the marketing mix.  Think about pricing, promotion, and place.  For your paper, you would provide more information about the target market and the product. Another target market might be the do-it-yourself, environmentally conscious consumer.  This market might purchase a battery operated push lawnmower to avoid polluting the environment with gas fumes, etc.  This is the product section of the marketing mix.  Think about pricing, promotion, and place.  For your paper, you would provide more information about the target market and the product. Keep in mind that you are making up one product for your first target market and making up a different product for your second target market.  (Using the same type of product for the entire the paper) Minimally, you would have five paragraphs for each marketing strategy - paragraph for target market, paragraph for product, paragraph for price, paragraph for promotion, and paragraph for place.  That's minimum!  Ideally you would have a few paragraphs for each of those. Read the Toddler University case to assist you with this assignment.

Toddler University – Higher Education for Younger Feet

(The company’s marketing strategy was successful because it developed a distinctive

marketing mix that was precisely relevant to the needs of the target market) 

Jeff Silverman founded Toddler University, Inc., a shoe company for children.  He had spent many years working in the shoe industry and learned a lot about customers’ needs and interests.  During high school and college, he worked as a sales person at a local shoe store.  He also worked a year at Nike.  From these jobs, Jeff realized that some parents were not satisfied when it came to finding shoes for their preschool children.  Jeff believed that there was a large market for general-purpose baby shoes, but he did not want to focus on this market because it didn’t make sense for his small company to compete head on with many other firms where he had no particular advantage.

He identified four other markets for children’s shoes that were quite different:

          The Traditionalists – satisfied with a well-manufactured shoe that was available from “quality” stores where they could seek help in selecting the right size and fit.  These parents didn’t mind if the design was old-fashioned and didn’t change.  They wanted a well-known brand that had a reputation for quality, even if it was a bit more expensive.

          The Economy Oriented – were in lower income groups.  These parents wanted a basic shoe at a low price.  They saw baby shoes as all pretty much the same – so a “name” brand didn’t have much appeal.  They were willing to shop around to see what was on sale. 

          The Fashion Conscious – were interested in dressing up their babies in shoes that looked like smaller versions of the latest styles that they bought for themselves.  Fit was important, but beyond that, a colorful design is what got their attention. 

          The Attentive Parents – wanted shoes that met a variety of needs.  They wanted shoes to be fun and fashionable and functional.  They didn’t want just a good fit but also design and materials that were really right for baby play and learning to walk.  These well-informed, upscale parents were likely to buy from a store that specialized in baby items.  They were willing to pay a premium price if they found the right product.

Silverman thought Stride Rite was meeting the needs of Traditionalists very well.  The Economy Oriented and Fashion Conscious customers were satisfied with shoes from a variety of other companies.  But Silverman saw a way to compete by targeting the Attentive Parents with a marketing mix that combined, in his words, “fit and function with fun and fashion.”  He developed a detailed marketing plan that attracted financial backers, and at age twenty-four, his company came to life.

Toddler U did not have its own production facilities, so Silverman contracted with a manufacturer to make shoes with his brand name and to his specifications.  He designed softer shoes instead of rigid high-topped infant shoes.  The shoes had more comfortable rubber soles and lasted longer because they were stitched rather than glued.  The shoes had an extra wide opening which made it easier to get on squirming feet.  He also put effort into the packaging of his product.  He believed that creative packaging would help promote the shoe and attract customers.  For example, he put an athletic-styled shoe in a box that looked like a gray gym locker. 

The shoes were priced at $40 or more per pair.  This was a premium price, but the Attentive parents are willing to spend more on their child unlike the Traditionalists who might spend $15 less on a pair of shoes for their child. 

Silverman knew that discount retailers and other general merchandise stores were not appropriate.  He predicted that the Economy Oriented parents would shop at stores such as Walmart.  Instead, he looked to offer his shoes in specialty shops as well as placing his product in the shoe department of high-end department stores. 

Finally, to promote the product, Silverman developed ads with close-up photos of babies wearing his shoes.  The ads gave detailed information about the special benefits of the shoes.  The copy from one ad said:

“Toddler University presents a great leap forward for children’s feet.  It’s called the Higher Education sneaker. 

And while its playful exterior may look like other sneakers, there the resemblance ends.  Because what you see here is footwear that gives kids who live in sneakers a significantly higher standard of living. 

For instance, most companies that make lightweight shoes take the issue of fit all too lightly.  Toddler U’s come with custom lined footbeds that mold shoes to every contour of your child’s feet.  Also, other sneaker soles are surprisingly inflexible when it comes to bending but our Higher Education soles allow a child’s feet to bend almost as easily as if they were barefoot.

And since destroying sneakers is among every kid’s favorite sport, ours come with thicker leathers and rubber molded toe guards, making them the first sneaker specifically designed to finish last. 

In other words, Higher Education is anything but a sneaker of the old school.”

In just four years, Toddler U’s sales jumped from $100,000 to over $40 million.  Silverman added shoes for older kids and expanded into more markets.  Then, Silverman made his biggest sale of all when he sold the company to Genesco, one of the biggest firms in the footwear business.