Its Popcorn time is the company name..
Preliminary market research indicated that target market for IPT has the following characteristics:
Age groups: young adults, middle-age adults
Income levels: from lower middle-class and upward
Consumer groups: individual consumers and businesses
Buying method: currently, 35% would buy from a storefront, 30% would buy "from a catalog or on the Web", and business buyers would direct order
Geographic distribution: research indicates that if IPT markets appropriately, they could increase sales outside the Philadelphia area by as much as 50% the first year. This is based on an anticipated contract with the floral company and the appeal of the Amish products to people from Philadelphia now living in other states and countries
Now it's time to start thinking about "the 4 P's" - product, price, promotion, and placement (distribution). Once again, IPT's owner and financial advisor want to know what you're thinking about before you prepare the entire marketing plan. Document your ideas in a memo. Your memo should address the following points at a minimum:
Promotional strategy you'll use to reach your target markets and how these strategies may vary based on the target markets
Pricing strategy based on the different target markets and plans for the future
New distribution strategy and impact on suppliers and manufacturing
IPT currently sells the following products:
Flavored popcorn - in addition to common flavors such as butter, cheese, and caramel, they have patented a process for getting both thicker (chocolate) and finer (confectioners sugar) coatings to stick to the popcorn without damaging it
Snack sized pretzels, also coated with sweet and savory flavors
Cookies - IPT has subcontracted with a local bakery to produce a variety of cookies
IPT is based in Havertown, Pennsylvania and has several storefronts in and around Philadelphia. They sell the products at the storefront locations and take phone orders for delivery in the area. They also sell their products in bulk to local gift basket producers and caterers.
New Product Rollout
IPT is considering signing a contract with an Amish food manufacturer to supply typical "Pennsylvania Dutch" treats such as shoofly pie, horehound candy, and various jams and jellies. (Note: There is a substantial Amish community in nearby Lancaster, Pennsylvania, who are commonly referred to as Pennsylvania Dutch). IPT still considers itself a local, Philadelphia company and feels that the addition of Pennsylvania Dutch products will garner more local customers.
On the other hand, IPT's owner, Kiana Peterson, has been thinking of expanding the retail business to the regional level. She would like to test-market first in the tri-state area (Pennsylvania, New Jersey, Delaware) and possibly expand north and south into New York and DC Metro.© BrainMass Inc. brainmass.com June 18, 2018, 5:14 pm ad1c9bdddf
To: Kiana Peterson, IPT's owner and financial advisor
From: (your name and title)
Date: (complete date)
Subject: Promotional, pricing, and new distribution strategy
1. Who is our target group? Our target group includes the follows: -
? Age groups: young adults, middle-age adults
? Income levels: from lower middle-class and upward
? Consumer groups: individual consumers and businesses
With the above information, we will check the listenership, viewership, and readership profiles for various media, including local radio stations, newspapers, magazines, and television stations, in order to decide which media we should use to run our promotions.
2. What message we will communicate to our target group?
We will divide the messages by consumer groups i.e., individual consumers and businesses.
For consumer groups, we will demonstrate the idea that IPT is the local, Philadelphia company, with high concern of providing quality products and variety of new products and flavors.
For businesses, we will demonstrate to them that IPT can provide the products with high quality at the competitive price.
3. When we should make the promotion?
Before IPT opens the new storefronts at Pennsylvania, New Jersey, Delaware, New York, and DC Metro, IPT could do the ad to generate customer interest before the opening.
This solution is comprised of a memo explaining of IPT's promotional, pricing, and distribution strategy for its expansion of more than 800 words of text.