Marketing Report Research Paper Example | Topics and Well Written Essays - 750 words - 1

Marketing Report - Research Paper Example By the fifth year, the company should have gained 27,500 customers (5500 *11), resulting in a total of about 77,500 clients. 2. Gain a 15% market share in the STEM toy segment for CircuitTree by 2020. At the moment, Mega Brands has an 8% market share in the STEM category, while Lego has a 5% market share in the same category; this totals to 13% for the two leading brands. Other smaller brands have a total market share of 16%, meaning 71% of the market is still unexploited. A 15% market share means that Voltree will have 76,819 (0.15*512129) customers by 2020. This is closer to its target of a 77,500 customer base within 5 years. 3. Retain 50% of customers gained within the first five years of operation. Currently, CircuitTree is Voltree’s only product, yet STEM toys market data shows that parents between the ages of 25 and 34 perform multiple purchases every year. However, the probability of a parent buying more than one game is 0.5%, because half of them are likely to acquire other games in their next purchase. CircuitTree supports learning and entertainment in a sustainable and balanced manner. Technical and educational practitioners who understand the correlation between entertainment and learning developed the product after intensive research. The Core Product is what consumers pay for. In this case, entertainment and learning are combined into one product: a game that will improve children’s academic potential but still keep them animated. This element comprises the actual physical or virtual features of CircuitTree. The product is imaginative, inspiring, and incorporates high-quality design and styling. It also comes with latest software updates that support long-term usage. The branding, packaging and labeling aspects of CircuitTree are congruent with the company’s strategic objectives. For example, the packaging (both primary and secondary) is environmentally friendly while the labeling is explicit and multilingual to