ASSIGNMENT – CASE STUDY
ADVANCED CERTIFICATE IN MANAGEMENT
A group of investors had formed Trap-Ease America after it had obtained worldwide rights to market the innovative mouse traps. The group had hired Martha to serve as president and to develop and manage the Trap-Ease America organization. Martha had initially forecasted Trap-Ease’s first year sales at five million units. Martha knew that the investor group believed that Trap-Ease America had a ’once in a life time chance’ with its innovative mousetrap. To evaluate this opportunity Martha must collect information from different angles. She must choose a best target market for the Trap-Ease.
1. As Martha and ...view middle of the document...
It is a written dedication and it normally remains unchanged. Normally the mission statement focuses on a company’s present state. A group might also form their mission statement stating their future goals. Trap-Ease America might write their mission statement stating that it had obtained worldwide rights to market the innovative mousetrap, their won on the contest and their forecasted sales.
I would write the mission statement for Trap-Ease America “To provide the world’s best mousetraps that enables customer to get rid of the troubles of mouse”.
2. Target market is a group of customers that the business has decided to aim its products and services. Martha’s early research suggested that women were the best target market for the Trap-Ease. But it is not the best target market for the company. Because women often stayed at home and took care of their children.
The firm can choose their target market as men. It will be more beneficial than women. Because usually men, it seems more willing to do shopping. Trap-Ease can market their product through different television programs like family programs, during news etc. So they will be able to find the advantages of mousetraps over spring loaded traps. When compared with spring loaded traps or poisons, mouse traps had many advantages. Customers could use it safely and easily with no risk of catching their fingers while loading it.
3. Any person or company who is a rival against another is competitors. In business usually a company in the same industry or a similar industry which offers a similar product or service. There are direct and indirect competitors for Trap-Ease.
Direct competitors means where two or more companies offer essentially the same good or service. Spring/loaded trap was the direct competitor for Trap-Ease. This will highly compete with mousetrap, because according to the case it seems men were doing the work of buying these products. And they prefer to buy traditional spring/loaded mousetrap.
Indirect competitors mean competition against the different types of products that satisfy the same needs. The poison that used to kill the mouse is the indirect competitor for Trap-Ease. Martha had chosen the best target market as women, and they prefer to stay at home. And most probably they will use the poison for killing the mouse rather than go and buy the mousetrap.
To face or to overcome the threats of competitors Martha and Trap-Ease America must advertise their product aggressively. They can advertise the trap through different TV programs, showing the advantages trap over other products like spring/loaded mouse trap and poison. After seeing that it is safer and easily used product, customers will change their way of trapping the mouse and move to the Trap-Ease product. Martha can market the product through internet also; they can do email marketing or blog marketing. They must consider the cost as important factor to beat the competitors. The cost must match the...