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Business Management Essay

560 words - 3 pages

Instructions
* Assignment 1: Company Introduction, Market Segmentation, and Product Positioning
Due Week 3 and worth 200 points

In this assignment you will describe your fictitious company and provided its background. Then, you are ready to start building the marketing plan with a focus on segmenting and positioning your product and service.

Write a five to seven (5-7) page paper in which you:

A. Write about your company.
1. Write a detailed company background. Address the following items at a minimum for full credit:
2. Create a strategic mission statement.
3. Determine and decide upon at least one (1) foreign market for the product and service. Provide your rationale for this market.

B. Write about your marketing plan.
4. Discuss the potential audiences for a marketing plan and the needs of those potential audiences.
5. Identify the marketing segment for the product and provide a ...view middle of the document...

* Evaluate and target customer segments and positioning products within these segments.
* Evaluate and target customer segments and positioning products within these segments.
* Use technology and information resources to research issues in marketing management.
* Write clearly and concisely about marketing management using proper writing mechanics.

Market Segmentation and Product Positioning
The footwear industry focuses on providing products for men, women and children of all ages. The National Shoe Retailers Association indicates that this market averages $48 billion per year in sales, with independent businesses averaging $9 billion a year. Marketing a product that consumers categorize as a need generally brings success to a business; however, in order to persuade consumers into purchasing your product, you must have a well organized and thought out marketing plan.
Located in Waldorf, MD, Fashionable Shoes Galore’ is a privately owned, sole proprietorship business servicing customers in the metropolitan areas of Maryland, Virginia and the District of Columbia. The business was established, January 10, 2010, owned and operated by Mack A. Braswell, Sr., along with his three children, Marcia, Martina and Mack Jr. Mack Sr. attended the Syracuse University, New York, earning a MBA in Business Management, his daughters Marcia and Martina both attended the International Academy of Design and Technology, Sacramento, CA, earning a Bachelor Degrees in Fashion Design, and his son Mack Sr., who recently graduated from Berkeley College, with a Bachelor Degree in Fashion Marketing and Management.
Situated in a shopping plaza located by the Charles County Mall, Fashionable Shoes Galore’ sells various types of footwear as well as accessories such as hosiery, socks, shoe care products and handbags. These products are purchased from shoe liquidators and wholesale retail vendors who provide quality products with excellent craftsmanship, at a reasonable price. Although the business has been operating for nearly three years, Fashionable Shoes Galore’ has finally reached the profit making level, with annual sales totaling $850,000 dollars.

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