Question

Scenario: The product is a portable multimedia center to be marketed in the U. S. market, called “Media Popup” made by the start-up company Porttron, Inc. The multimedia center is a glossy compact entertainment box 10”X12” and includes a screen with optional additional screen extension that pops out of the right side, computer keyboard that folds down, 4 surround sound mini-speakers that can be adhered to any hard surface with the stick strips at the back of each speaker, and includes a subscription to streamed movies, music, and videos for two years for $499. It is available in 3 different colors (black, silver, white).

Business Memo: You are a marketing assistant at Porttron Inc. tasked with providing a business memo (i.e., an internal company document) to the United States (U.S.) executive management team of Porttron Inc. concerning the checklist items provided below.

Write a minimum 500-word original business memo. In a concise manner, describe to executive management the data you will analyze to determine a potential market for this product. State your purpose in the opening paragraph and provide sufficient information to explain the required items. Finally, provide a concluding paragraph to summarize your suggestions.

Checklist:

Identify either a consumer or business market.

Describe your bases for segmenting the market (Ex. – Demographics).

Identify segmentation descriptors (Ex. – Age, occupation, income).

Explain your rationale for the segmentation descriptors.

Describe the selected target market for the scenario product.

Identify a marketing mix (Product, place, promotion, and price).

Answer 1

Business Memo

The purpose of the business memo is to highlight the product manufactured by the new startup company named Porttron, Inc. The product is the "Media Popup" and is mainly produced to render high level media experience to the customers. With attached keyboard, a screen, four speakers and one year subscription of movies, music and videos the customers get good experience with the product.

The market for the product would be the consumer market as the goods are produced for the customers. The product would not fit best for the business market as it could not match up the demands of the business market, but this would best fit the consumer market and its users.

The market would be segmented on the basis of demographics, such as the age of the customers. The product would be made available to the customers who fall under the age group of 13 years to 22 years.

The segmentation is done on such basis because the product will match the demands of usually the youth and the young generation people who are college and school going. Moreover the students would need this kind of product the most, where they could make use of the keyboard and search for new things and also enjoy the movies and music as and when the need is felt.   

The marketing mix of the product also need to be decided well in advance. The product should be produced keeping in mind the demands and expectations of the customers in the market. The customers, as targeted are the schools and college going students. Moreover in order to match up the fashion trends and make the product attractive, the product is made available in three different colors (black, silver and white). Moreover the product should be manipulated keeping in mind the competition in the market and what strategies are being followed by the rivals.

The place of distribution of the product need to selected carefully and intensive distribution policy can be followed. The product can be made available at places and geographical locations where more number of school and college students are available.

It is important to promote the goods being manufactured. High promotional policies need to be followed by the company so that more and more students become aware of the product. Online portals, social media, newspapers, advertisements, magazines can all be used by the company as different tools for promotion. More the promotions, more will be the sale of the product. Different promotional techniques help in positioning the product in the minds of the customers.

The price of the product should be set very carefully so that the customers do not feel cheated and the price match with the features offered by the product. before setting the price, the company should conduct market analysis and find out what other firms are charging for the product, or what the customers are willing to pay for the product. The price set should be able to cover up all the costs incurred by the business, but it should be neither too high nor too low.