The product is an recycled green pen range (different colour packaging) marketed at school children.
Section 1: Introduction
To refresh the marker's memory, identify the industry you used for the first assignment and briefly summarise the major trends you identified for your firm.
I have used the pen industry. Pens is a new company with a focus on providing recycled user friendly products and is located in the Campbelltown area. Pens is about to release a recycled plastic environmentally friendly (Green) pen range. The pen range will use all recycled material and will have different colours.
The pen market is already established it is a mature market. Consumers are looking for deep seated reason to buy products.
Pens product need to be competitively priced to ensure sustainability in the marketplace.
Manufacturing and keeping costs low and the ability to meet supply demands will be important
Section 2: Target market
Identify a chosen target market for your organisation. In order to satisfy your customers you need to know their characteristics and needs. Describe the characteristics of your target market using segmentation variables.
Section 3: Setting marketing objectives for your organisation
Having identified your target market and the trends facing your organisation you are ready to identify your organisation's marketing objectives. This means your objectives should relate to things such as consumer awareness, market share, targeting a specific segment, utilising a new distribution channel etc. As a rule-of-thumb each trend should translate into a marketing objective (e.g. for a fast food chain, the trend towards healthier diets suggests introducing a healthier menu as a marketing objective for the product strategy). But to make things easier, just identify your four major MARKETING objectives.
Section 4: The marketing mix
Having identified your target market, you now need to devise a marketing-mix. Remember market planning is a process, so your marketing mix should be specifically designed in response to your situation analysis, target market's needs and marketing objectives.
Section 5: Conclusion
the solution is in the attached document. There are many more points you could discuss. These are some of the major points.
Section 1: Product Description
The product that is the focus of the marketing project is the pen. Pens is a new
company with a focus on providing recycled user friendly products and is located in the
Campbelltown area. The product will be differentiated as a green product, made entirely
of recycled materials. The product also comes in different color choices. The pen market is
already established and is considered a mature market. In many product industries, the
trend for green products in growing, as consumer awareness of sustainability increases
and demand for green or sustainable products increases.
Section 2: Target market
The market segment Pens products will target includes male and female students
primary and secondary grades, from age 6 to 17. For members of this segment, parents will
usually make product purchasing decisions for learners. However, children often influence
purchasing decisions. Therefore, targeting this segment requires efforts to create awareness
for both learners and their parents. The message for parents and their children may be
different, though both are equally important, in terms of developing a suitable marketing
message. School age children will also perceive messages differently, depending on age.
Younger children understand terms like planet and earth-friendly. Teens are able to relate
to terms such as environmentally-friendly, sustainable and green.
Children today have the power to influence adult buying decisions. "The level of co-
determination increases by age", according to a study conducted by Sibylle Bottner (2011).
Older children have greater influence over buying decisions of higher priced items, such as
vacations, electronics and in some cases, even cars. Pens products are relatively small ticket
items, compared to electronics and vacations. Parents have less concern about value for their
money, with inexpensive items. However, they must see the value in the product, much like
their children. If the child and parent are both environmentally conscious, it is more likely
the will consider green products.
Environmental awareness by children is increasing, as programs are being promoted
and encouraged in schools. Often children influence the decision of parents, to adopt more
environmentally friendly practices, in the home. Many schools encourage children to use
recycled pencils and paper. Convincing school age children that a green pen is a desirable
product should not be a challenge, if products are priced competitively. Children are also
aware of price conscious parents. Targeting the market segment of school age children
involves considering both environmental factors and the value of products, so that this
segment can more easily influence the actual buyers.
Targeting the segment of school age children requires consideration for gender.
Wilson et al (1996) point to studies that show females are slightly more concerned about
the environment than males. It may be easier to reach female students, with the message
that Pens products consider the environment. However, boys tend to be interested in how
products or devices are made. An educational video that shows how Pens products are
made, which could accompany a sample supply of products shipped to selected schools,
is more likely to engage boys in the idea of recycled products.
Teens are mature enough to understand the range of impacts that using green products
can have, on the environment. Richard Haley (2002) points out that in a 1999 research study
on environmental knowledge, "70.7% of 12th graders knew that sulfur dioxide becomes acid
rain." This age group has more specific knowledge and is more likely to become involved in
issues that they believe are important to their futures. Targeting this sub-segment of school
age children may require an offer of getting them involved with Pens products, on a deeper,
more meaningful level. While they may not be able to participate in the actual manufacturing
of the product, they may be more interested in participating in the recycling process.
Section 3: Setting marketing objectives for your organization
1. Increase brand awareness- This is done through promotion of products where learners purchase school supplies. For elementary and secondary schools, school stores, stationary or greeting card shops and office supply stores are appropriate primary channels. For children in secondary schools, Pens products can be promoted through
Fund raising activities and through school or community 'clean up' days.
2. Increase market share- Competitive pricing, based on pricing of typical pen products, will help increase market share. Trust in the brand and easy access will help increase the likelihood of Pens products as desirable items parents of children. Pens will need to maintain ...
The product of recycled green pen range is examined. The pen range which will be used for all the recycled material and different colors is examined.