Marketing questions 2

SWOT analysis template Team: TEAM 4 Date: JUNE 8TH, 2016 Creator: TEAM 4 members E-Mail:

Strengths Weaknesses 1. Brand awareness for TONES

increased from 21.3% to 78% for the target segment (High earners)

2. Excellent communication dimensions and message quality used in brand communication and advertising for TOSS.

3. Brand awareness for TERM increased from 30% to 44% in the followers segment.

4. Brand awareness for TOPS increased from 6.4% to 56% in the shoppers segment

5. Purchase intentions of high earners for TONES increased from 21.3% to 33.3% which is the highest in that segment in comparison to our closest competitors, SONIC (24.3%) and LOOP (26.8%)

6. TOSS our new sonite brand was designed to meet the specific needs of the target market( savers segment)

6. Poor communication dimensions and message quality used in brand communication and advertising for TOPS, TONES and TERM.

7. Purchase intentions for TERM decreased from 64.6% to 22.9% in the followers segment of the vodite market and our closest competing brands are SEED (22.4%) and MEOW (20.8%).

8. TOSS is our new sonite product and we did not sell enough units since we produced 160,000units but only sold 11,000units. 149,000units are costing the firm $819,000.

9. TERM is also not generating enough revenue because the unit transfer cost is expensive ($248) which makes cost of goods sold - $5,530 and revenue $6,048.

10. One of the most important characteristics for the savers segment is Design (4.0) but our new product TOSS is lacking in this area(2.9)

Opportunities Threats 11. According to the advertising

experiment, there is the chance to increase the advertising budget by 20% in the high earners segment and make profits of $361,000

12. Modify all brands to suit the specific needs of our various target markets and this will help to reduce cost especially with TERM’s unit transfer cost.

13. The target segment of TOSS(savers) is growing by 17.3% in the next period

16. There is the probability of a decrease in profits by $361,000 and $663,000 in the shoppers and savers segments respectively if the advertising budget is increased by 20%

17. Our competitors SEED and MEOW in the followers segment offer better physical characteristics than our product TERM. And their prices are also more affordable.

18. Purchase intentions for TERM dropped by 41.7% in the followers segment. There is

14. A new brand that is designed to meet the specific needs of the Explorers segment which most firms have neglected.

15. The growth rate in the target market for our vodite brand TERM appears to be increasing by 157.5% which is a great opportunity.

16. Display characteristic of TOPS can be improved for shoppers segment.

intense competition between our brand and SEED (22.4%) and MEOW (20.8%)

19. Purchase intentions for TOPS dropped from 6.4% to 2.8% in the shoppers and the competitors have high purchase intentions, LONG (22.9%) and SOLO (56.8%)

20. Commercial team size increase will attract losses such as $81,000 shopper( high earners),$122,000( shoppers),$259,000(savers) and $199,000(followers)

Action plan Strengths 1. Monitor changing customer preference of our target segment constantly. 2. Maintain excellent quality of advertising information. 3. Continue to study customer preferences and improve our brands. 4. Continue to study customer preferences and improve our brands. 5. Invest in R&D to continually ensure our brands meet customer preferences. 6. Modify any of our firm’s product every time to meet the target segment’s needs. Weaknesses 6. Improve message quality for advertisement to our target segments. 7. Closely monitor changing preference and invest in R&D to meet the needs 8. Improve all physical characteristics of TOSS to meet savers ideal values. 9. Modify characteristics and provide only the ideal needs of target segment. 10. TOSS will be modified to provide the ideal design for followers. Opportunities 11. Increase advertising budget by 20% to gain $361,000 profit propose. 12. Invest in R&D to modify all our existing brands to better suit customer preferences 13. Invest in advertisement and research to increase our segment growth 14. Launching a new brand for explorers to increase sales and diversify risk 15. TERM has been modified to take advantage of the growth and increase sales Threats 16. Will not increase advertising budget because it will affect the firm negatively. 17. Modify TERM to perfectly suit followers and consider price decrease. 18. Monitor changing customer needs and modify products with that in mind. 19. TOPS has been modified to meet shoppers ideal needs in the next period 20. Maintain the commercial team sizes we currently have and reshuffle based on shopping habits of our target segments