1. Martha and the Trap-Ease America investors believe they face a once-in-a-lifetime opportunity. What information do they need to evaluate this opportunity?
The information they need to evaluate this opportunity is their market share compare to the whole mousetrap market. They can also scope down and use the following information:
-Check whether their marking plan is efficient and effective.
-Check with retailer and distributors whether sales are increasing or not. They might need to conduct a research to evaluate bottom line reasons of decreasing in sales.
-Monitor their customers, competitors, and suppliers. They could evaluate the competitors in terms of their marketing mix and …show more content…
They could also position product as causing less waste because it is re-useable. If it is a very excellent quality mousetrap, they could position it as a lifetime warranty product. They could position in a way that the company does not only offer just a mousetrap that comes with several product advantages, but it will deliver the best customer service that will be available to assist customer in any difficulty matters.
4. Describe the current marketing mix for Trap-Ease.
The four Ps of marketing are product, price, place, and promotion. Product: Product that Trap-Ease America currently has is only their mousetrap. Price: The suggested retail price is $2.49. Place: Company decided to distribute the product through national grocery, hardware, and drug chains avoiding any wholesaler or other middlemen. Promotion: Promotion to publicity was advertised in magazines. Martha also went to a trade show to introduce Trap-Ease.
Do you see any problems with this mix?
Product: The product mousetrap only comes in one design and one feature, which has no variety to it. The traps are sold in packages of two only. They should be offered in a variety of package size. There is no extra services, warranties, or return policies that come with the product. Price: Their suggested retail price is five to ten times more expensive than smaller, standard traps. If Trap-Ease wants to stick with the same price, they should come up with the idea that would make customers believe that