Market Stratergy Essay

1009 words - 4 pages

Target Market StrategyGrand Canyon UniversityTarget Market StrategyIntroduction: An effective marketing plan is the foundation for any successful business. The marketing plan is the blueprint for how the company will position its product in the market to adequately compete for business. In today's competitive marketplace it is important to develop a product that can be marketed to more than just one type of business. To capitalize on our obsession with junk foods and entertainment I have come up with a product that can be marketed to the retail market as well as the theater market. This product is chocolate covered popcorn.I think most of us agree that Americans love chocolate, popcorn and the movies. Americans consume 17.3 billion quarts of popcorn a year, that is over 50 quarts per man, woman and child in America. (8 Feb. 2007) Although sales of popcorn are rising around the world America still consumes more popcorn than any other country. Americans also love their chocolate; the average American consumes over 12 pounds of chocolate per year. (2010). Considering the high consumption rates of chocolate and popcorn by Americans, a new product combining these into to one should not have a problem being successful. In order to market this product with well known brand power the chocolate ingredient will be developed in conjunction with the Hershey company and will be marketed as Hershey covered popcorn.The first business I will market this product (hereafter known as Chocó pop) to is the theatre markets. Recent years has seen a decline in revenue for the theatre industry. My marketing strategy to the cinema corporations such as AMC and Regal is to show them that Chocó pop will add more variety to their concession stands. Customers have long brought in their own snacks and candy in order to avoid the inflated theatre prices. The 2 products which customer purchase at the concession stands are sodas and popcorn. Popcorn is relatively an inexpensive product to manufacture. This makes it a very profitable endeavor for the theatres and I do not see them passing up on this money making opportunity. By getting Chocó pop in the theatres it will introduce the product across the country in a very short time period. I think by introducing it in theatres it will develop a wide range customer base. It will stay as a theatre exclusive for the first two years. This will build a valuable foundation of customers that will be the initial customers of a spin off product to be sold in food markets across the country.The new product will be a microwave version. This will reach the majority of American popcorn consumers. Chocó pop will be introduced in all major food markets in two forms. We will have the original theatre style and a new ninety four percent fat free version. Except for some small banner and counter displays very little advertising was used to promote Chocó pop in the theatres. In this new format...

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