Purpose and Scope of the Marketing Brief: Safe and Sound Cribs
Section I. The Marketing Brief Introduction
This section will include the following elements:
1. Purpose and Scope of the Marketing Brief
This section briefly explains the product or service, the geographic areas in which it will be introduced, its time frame, and some of the functional areas that the plan covers. For example:
“The purpose of this marketing brief is to present an overview and analysis of the residential pet owners market of Bothell, Washington. After this analysis, this Marketing Brief will explain and recommend some key elements of a marketing plan for the introduction of the new Kwik Kitty pet care service in the Bothell area in June 2016. Kwik Kitty is…….. “
2. Limitations to the Marketing Brief
Explain any project limitations here e.g. unreliable sources, outdated data and the like. In some cases there are no such limitations.
3. Executive Summary
Please see the textbook for ideas on how to develop and present this crucial section. It should summarize the key points of the brief in about 200-250 words. The company or product name and logo should also be presented here.
Section II: Marketing Situation Analysis
1. Market Research Methodology and Data
All teams will develop and use a Know n’ Act survey as their primary research methodology, and at least four secondary sources for their Marketing Briefs as follows:
Primary Research Methodology:
An early assignment in BUS 320 will have students develop and use a tool that assesses target customers’ awareness, interests and behavior. While the survey itself will constitute a written class assignment, the results (i.e. data) from the surveys will be presented in this Marketing Brief as the key source of primary data.
Secondary Research Methodology:
Each team will use at least four sources of external data such as industry studies, online market research reports, newspaper articles, external economic data and government demographic data. One of these sources should include the excellent online mapping database called SimplyMap that can be found at: http://library(dot)uwb(dot)edu/guides/BusWeb/SimplyMapTutorials.html
This database will help you to narrow your product’s geographic market down to specific zip codes and even neighborhoods. As you know, the general market area is the Seattle “Eastside” which is very big. This data will help you select specific locations for your product’s promotion, sale and distribution.
Please present the research findings as follows:
Primary Research. Know n’ Act Response Ware
1) Research Methodology: Please describe the methodology used
2) Respondents: Please describe the demographic profiles of the respondents that your team targeted, and the number of respondents
3) Research Results: Please present the research data tables and charts and then prepare an analysis of the research findings. Please do not simply cut and paste charts from Know n’ Act; your team will have to develop its own set of illustrations.
Note: In many cases, the above information will come directly from Assignment 2. You might want to amend the amount, format or analysis of the data before including it here in the Marketing Brief.
Secondary Research Data:
1) Research Methodology: Please describe the methodology used
2) Sources: Please describe the sources that were used
3) Research Results: Please present an analysis of your findings. For teams whose business requires a physical location, you must develop and show a map of demographic data taken from SimplyMap that helps your team select its area of geographic focus.
(I will provide u data later, please refer to data I provided)
2. Market Overview
At a minimum, the following areas must be addressed in this section:
1) Market Sizing: This information will come from Assignment 2. You might want to amend the amount, format or analysis of the data before including it here, however.
2) Competitive Landscape: Please be sure to include data and analysis that shows your competitors, there competitive strengths and weaknesses and competitive pricing of key products
3) Perceptual-Positioning Map of Key Competitive Products: (will be discussed in class). This map will not include your company’s product. That comes later.
Marketing Brief: Safe and Sound Cribs
Name
Institution
Date
Marketing Brief: Safe and Sound Cribs
Introduction
This marketing brief presents an overview and analysis of Safe and Sound Crib, a new product known as “the baby crib with a voice technology.” This marketing brief will explain and recommend some key elements of a marketing plan for the introduction of Safe and Sound Cribs in the Seattle Eastside area in June 2016. The market plan covers elements like a description of the product and competitors, demand for the product or service, and the strengths and weaknesses from a market standpoint of both the business and its competitors (Lamb et al., 2004).
Purpose and Scope of the Marketing Brief
The purpose of the marketing brief is to create awareness about the baby crib with voice technology to ensure that the information reaches out to the potential customers. The message "Congratulations on the new birth, mom," will effectively raise the consideration levels among its target customers. People in need of a crib will be curious to know about some of the special features of the crib using posters as its campaign strategies (Sudharshan, 1995). Using posters pictures of the baby crib with blue theme color comprising of the product's name in bold will ensure that customers think of their babies or younger generation at the first glance. This will induce them to get more information based on their interests and needs. Our goal is to satisfy the market demand while trying to make profit at the same time (Sudharshan, 1995).
Executive Summary
Safe and Sound Cribs are designed to cater for caregivers with infants who require a low-cost crib; the primary target market is mostly young mothers. A crib is an important purchase for young mothers; however, the type of crib people are willing to purchase will depend on its features (Viewpoints.com, 2009).
Safe and Sound Cribs various special features that are comparable to non-other similar product in the market. The cribs have enough space, making it safe and convenient for babies. Because babies spend much of their time in a crib, the baby's safety should be paramount. The Safe & Sound Cribs have four stationary sides that offer the safe environment; other features included grip handles to make the crib transports easier (Viewpoints.com, 2009).
Parents often worry about safety and convenience, which includes, whether the child‘s arm or legs can get stuck or how convenient it is to reach to the crib to pick the child, especially at night. Safe and Sound Cribs’ features include a self-rocking crib, built-in speakers that are controlled through the computer application that is convenient for every parent (Viewpoints.com, 2009).
Limitations of the Marketing Brief Research
Conducting market analysis means covering a wider scope; conducting market analysis requires comprehensive data, which is not an easy task. It is not easy to collect relevant data to understand all the market problems. In addition, research studies cannot present the true picture of the situations especially where value judgment is involved (Lamb et al., 2004).
In most cases, research is time-consuming and lengthy; collecting data to analyze markets involves various steps that need to be completed in a specific order. Owing to the fast changing environment, data collected can soon become irrelevant; therefore, the researched data can also become irrelevant with time if the recommendations are not implemented immediately.
Data generated from marketing research does not give a complete proof of solutions to the management. Market research of particular products does not contain exact information like science. Most research focuses on human beings and human behavior, which are some of the elements that are difficult to predict and draw a comprehensive conclusion. Errors in the research studies are also possible due to human behavior and also because of non-availability of reliable data (Lamb et al., 2004).
Marketing Situation Analysis
To satisfy customers’ needs, Safe and Sounds Cribs must understand its external and internal situations. These include its customers, the general market environment, and its capabilities. This will help the company forecasts on trends in the dynamic environment in which it intends to operate. One of the useful frameworks for performing a situational analysis is the 5 C analysis (Sudharshan, 1995).
Using the 5 C analysis tools, the company can scan for micro and macro environmental situations mainly the company, customers, competitors, collaborators, and the climate. To collect the data, specific respondents were targeted and contacted through emails; email enabled the firm to receive responses directly from the residents within Newcastle area. The target groups were mostly young women between the reproductive ages of 25- 40 years. The questionnaires consisted of five questions about observed price, positioning, and attribute information about the safe sounds crib concept (Sudharshan, 1995).
The first question was about the market demand.
Question one: Are you planning to have a baby shortly (within the next year)?
This question aimed at understanding the market demands and profitability levels for safe send cribs within Newcastle area. This survey question was an important question to determine if the product can survive in the competitive market. Among the targeted respondents 60 percent stated that they were not planning to have a baby by next year. However, 39 percent stated that they are planning to have a baby by next year. 1 percent stated that they might consider having the baby by next year (Viewpoints.com, 2009).
Question 2: When searching for cribs, what are your most important search criteria?
This question aimed at understanding if the features of safe sound cribs are suitable for customers needs. The results indicate that 56 percent of respondents agreed that safety is the most important factor when buying a crib (Viewpoints.com, 2009).
The respondents stated that maintains a one hand ease of access that makes it ideal and popular for parents when considering the risk of child entrapment, injury, and death that occurs with the drop-side, this is not the case for the other patented moveable-side cribs. The results indicate that parents are more concerned about safety compared to the cost and convenience of cribs in Newcastle .the data results also indicate that style is more important compared even the cost (Viewpoints.com, 2009).This feedback can enable the company to find areas to focus on to satisfy the customer's needs which are safety. The respondents further indicated that few companies that consider safety, ease of access at the same time have some economic advantages like safe sounds cribs (Viewpoints.com, 2009).