The essential role of a true marketing professional goes well beyond advertising and selling a product. It includes researching the market for a specific product and identifying its potential customers. Marketing a product also includes price fixing, locating suitable local vendors and determining suitable transportation channels (Perreault & McCarthy 2005).
It’s Popcorn Time’s (IPT) primary business is selling popcorn, pretzels and cookies through storefronts and telephone orders. Their popcorn and pretzels are flavored using proprietary coating techniques, thereby offering them a unique selling point. It is mainly targeted at locals residing in the Havertown and Philadelphia areas.
The marketing manager’s job in IPT would be to co-ordinate with the sales team in matters pertaining to product’s promotional strategies, strengths and weaknesses. He/she would also have to interact with the management discuss to risk factors, pricing, ways to counter competition, advertising medium and ideas to create market awareness.
IPT is planning to launch new delicacies like shoofly pie and horehound candy, which have an Amish origin. The company will have to sensibly price its new line of treats to cater to the middle-income group of Pennsylvania Dutch community. The target demographic would mainly comprise children and young adults. IPT can advertise its new food choices in local dailies, magazines and distributing fliers. The promotion for the new delicacies can include giving away free samples, complimentary coupons, introductory rebates, sweepstakes and organizing kids’ contests (Robinson 1991).
Once IPT has succefully captured the local market and achieved a profitable quarter, it can start concentrating on expanding operations to in Delaware, New Jersey, New York and Washington DC. The marketing manager will have to conduct market surveys and identify competition in these areas to successfully establish business in new locations. Wholesale pricing for bulk purchases and seasonal pricing strategy to balance profits during lean patches will also have to be worked out.
Reference
Perreault, W.D, & McCarthy, J. (2005). Essentials of Marketing. McGraw-Hill.
Robinson, W. A. (1991). Promotional Marketing: Ideas and Techniques for Success in Sales Promotion. McGraw-Hill.