Assignment on Reusable Straws - Marketing Management

Assignment reusable straws - Marketing Management

In the past couple of years, the global shift toward selling and buying more eco-friendly products seems to have accelerated. In virtually any industry, environmental friendliness and sustainability have become a hot topic. The hospitality industry is no exception to this. The other day, you were having dinner at one of the fancier restaurants in town and you noticed your drinks came with stainless steel reusable straws. This has been the first time you came across them in the UAE. A quick search on Google is telling you that they are far from ubiquitous where you live - which makes you catch the idea to start selling them in the UAE too. After all, you believe the market is far from saturated. To substantiate this hunch, you are going to apply what we learned during our Marketing Management course and determine whether selling stainless steel reusable straws yourself would be a viable endeavour in the UAE. Your first step will be to determine and develop your value proposition.

Determining and developing your value proposition

Communicating your value proposition

1. • First, you are going to identify and outline 2 market segments that operate in this fragmented market. Make sure to document the i) psychographics, ii) demographics, iii) geographics, and iv) the segments behavioural patterns of these 2 market segments. Substantiate each of the segments that you have identified by referring to both a piece of qualitative data and a piece of quantitative data that you have come across during your market research
   • Next, you will target 1 of these segments, toward which you will be directing your marketing efforts. Argue why you believe your resources are best spent targeting this market segment.
2. 2. Describe what the (i) core product is that you will be offering, (ii) the actual product, and iii) the augmented product.
3. 3. Write a positioning statement. Use the following format: To [target segment and need] our [brand] is [concept] that [point of difference]. Explain the rationale behind your formulation. Refer to Maslows Hierarchy of Needs to explain on what need(s) you will focus.
4. 4.
   • a. Establish your communication objective. On which of the five levels of the Hierarchy of Effects [note: this is different from Maslows Hierarchy of Needs!] will you be focusing? Explain why you believe this communication objective suits your product in this stage best.
   • b. Additionally, what kind of promotional efforts will you be deploying in order to meet your communication objective? Explain your pick.
   • c. Do these promotional efforts qualify as push marketing or pull marketing? Explain your answer.
5. 5.Which of Cialdinis persuasion principle(s) will be at the core of your marketing communication? Why do you think this/these will be the most effective one(s) in persuading your target audience to buy your product? Apply at least two of Cialdinis persuasion principles to this case.