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Assignment 1 wk3
1. Assignment 1: Company Introduction,
Market Segmentation, and Product
Positioning
10/26/2012
William Creamer
Mario Shannon
MKT500
2. A. Write about your company.
Write a detailed company background. Address the following items at a minimum for full credit:
Create a strategic mission statement.
Jump Start Health will be a mobile service unit and will not have a one central location.
Upon request or approval, Jump Start Health will serve as a vendor to such places as businesses,
church events, food drives, campus approved events, etc. Customers can find or follow us on our
commercial website: www.Jumpstarthealth.com or on Twitter and Facebook. Jump Start Health
is here to identify and develop useful products and/or services that are capable of providing for
consumer needs, sustaining economic stability, and consistently maintaining value in excess of
opportunity costs. Jump Start Health will meet the highest standards of excellence with superb
service and product offerings in a friendly, sparkling, and soothing atmosphere. The mission
statement centers us and serves as an ever-present reminder for all of us on why our institution
exists. This statement represents our interwoven tripartite mission of excellence in patient care,
research and education. Our mission is fundamental to our overall plan because it serves as the
guide post by which strategic decisions will be made. (Iacobucci, D. (2012).
Our vision sets a target for our organization and represents our 5 year long-term goal. The five-
year strategies contained in our strategic plan begin to address the gaps between where we are
today and what we aspire to become. The strategies will move us closer to achieving our vision
and are attached to metrics that we will review regularly to ensure that we are on course.
Determine and decide upon at least one (1) foreign market for the product and
service. Provide your rationale for this market.
3. One foreign market is Korea that we can venture to we respect the cultural distinctions and
national interests of all countries in which we are trying to operate. We strive to achieve positive
recognition for our company within the community. Merck attaches particular importance to
its responsibility for safety. We have an obligation to respect the environment.
B. Write about your marketing plan.
Discuss the potential audiences for a marketing plan and the needs of those potential
audiences.
We, the management and employees, are striving for entrepreneurial success we know it
starts with people. Our goal is to operate a worldwide business that produces meaningful
benefits for consumers, our market partners and our community. Through efficient research and
development, production and marketing of health food industry, we want to extend opportunities
to our customers. To achieve this, we focus our endeavors on business areas where we can
achieve a competitive advantage through the excellent quality of our products, systems and
services. Our objective is to establish permanent business relationships and not merely short term
success. On the basis of these principles, we operate as an independent and profit oriented
enterprise. We expect a high level of performance from each other, and reward this accordingly.
We wish to secure an acceptable return on capital for our investors. We will deal honestly and
constructively with one another. We regard open communication, both internal and external, as a
fundamental prerequisite for reaching an understanding of our common goals and for giving
meaning to what we do. We shall not be constrained by borders between business areas or
countries. All employees, male or female, have equal opportunities to develop their careers.
All of us make a personal contribution to the company‘s entrepreneurial success through our
mutual initiative, creativity and sense of responsibility. (Iacobucci, D. (2012).
4. Identify the marketing segment for the product and provide a rationale for this segment.
In order to correctly identify where Jump Start Health will be most successful in the New
Hidden Valley, an analysis of its target market must be conducted. The demographic profile of
potential consumers as well as the psychographic trends and behavioral characteristics have been
delved into so that the type of consumer can be better identified. There are some basic factors
that must be understood for the target audience. These include the ability for the consumer to
have easy access to the product, the ability of the product to be distinguished because consumers
are not inundated with similar products, and the willingness of the consumer to pay the price for
the product to create a reasonable profit margin for Jump Start Health. These factors are among
the many that will distinguish Jump Start Health market from other companies as well as
determining where the site should be located and who marketing efforts should be aimed. The
psychographic trends help to understand the consumers better and to find out their attitudes,
beliefs and emotions towards Jump Start Health. Target consumers are health- conscious. They
are concerned with the condition of their bodies, through exercising regularly, eating right, and
advancing their knowledge by furthering their education. They are young, intelligent, single and
trendy. They live fast lives and rely on Health food restaurants to provide meals on the go, but
refuse to sacrifice their health for the convenience. They share common interests in music,
outdoor activities, exercises such as Pilates and yoga, and the current fashion trends. The
behavioral characteristics help me identify the factors that target consumers value the most.
Some factors that are viewed as important include the price, quality, and convenience in the
location. These are important because the consumer is looking for quality food with health
benefits, but is at the same time still concerned with location and price. Consumers will make
purchase decisions based on convenience but will want to make sure the food that they are
getting on the go is not going to slow them down later. Purchases will most likely become habits
5. that are grown from their routine, and will be made anywhere from two to three times a week.
(Iacobucci, D. (2012).
Discuss the target market and provide a rationale for this target market.
The demographic profile of Jump Start Health will help to determine characteristics of
who its potential consumers are. The consumers of Jump Start Health are predominantly female.
The age is ranged from 16 to 30. The ethnicity is mostly White/ Caucasian. The income level
ranges from middle class to upper class. The geographic location is in urban areas. The marital
status is mostly single. The education level ranges from high school degree to Bachelor’s degree.
After doing research for the target area it was found that the total population of the NHV, mainly
the Hintonburg, Timburg, and Bradford area, is around 72,806. Of the population around 34,873
are females which is 48% of the population, 63,167 are White/Caucasian which is 87% of the
population, and 42,220 are between the ages of 15-34 which is 58% of the population. These
statistics show that Jump Start Health has a large enough target market to be successful in this
target area if Jump Start Health is able to draw enough of a percentage of this market as its
customer base. There is high growth potential of the target market because the image of Jump
Start Health and the products they offer are popular within a younger demographic because it is
new and trendy. Once the edge lightens and the products become more main-stream, the market
will widen and will grow to include more consumers. The current target market is narrow and
focused on a certain segment of the population, but will later grow to include people with
different demographics, as well as those with different psychographic attitudes, beliefs and
emotions and varied behavioral characteristics. The objectives for this business plan are specific
goals which are achievable by Jump Startin the first three years of operation. Achieve more than
6. $288,000 in sales during the first three year of operations. Provide an alternative health choice
product to consumers at a 60% lower cost than competitors. Iacobucci, D. (2012).
Perform a SWOT analysis (strengths, weakness, opportunities, and threats) for the
company.
Jump Start Health strength’s is that in the New Hidden Valley there are not many other
companies that offer the similar products and specialize in health smoothies. This fact sets this
apart from other businesses in the area. Jump Start Health has a reputation for offering healthy
food, which is very different in compared to some of its competitors in the casual restaurant
segment. This franchise has also won awards based on its performance as a food truck retailer.
One of the weaknesses are that it takes more time to prepare and deliver food than traditional
food truck retailers and some people are not willing to take the time to buy the food if they have
to wait. Convenience is very important to customers and if they have to get out of their vehicle
and go inside to order and pick up food, this may deter their decision to pick Jump Start Health
over competitors. Another weakness is that its price is a bit more expensive than its competitors
in the fast food business. Opportunities of Jump Start Health are that it has the potential to grab
a huge market because of the fact that it is so unique and really there is nothing like it in the New
Hidden Valley. This opens up an opportunity for them to draw customers from a larger
demographic area. The fact that Jump Start Health strives to provide healthy sandwiches and
smoothies with the highest quality gives the franchise a great opportunity to capture the health
conscious consumers before another competitor can come in. The New Hidden Valley is still a
developing area but as it grows so does our potential to increase our customer base and bring in
more business. Every company must look at the external factors involved that may hinder the
further prosperity of their company. Some possible obstacles that Jump Start Health may
7. encounter would be the competition already in place that the consumers are used to. Another
major threat is that there is no brand name recognition of this business by consumers in the New
Hidden Valley. This is a serious problem because if consumers are not aware of the reputation
and do not recognize the franchise name then they may not feel comfortable trying something
new. It is obvious that Jump Start Health menu does not just cover the basic smoothie’s that are
healthy no added preservative but also offers many different delicious items that you can eat.
Create the market position for your product and service. Explain your rationale.
One main way that Jump Start Health hopes to attract customers is to use the advantage
of being a free standing building with visibility from the road. The team also looked at putting an
ad out in the Hintonburg News-Messenger which has a circulation of 4,273 and will cost Jump
Start Health $500 for 23 newsletters. Jump Start Health will send out these newsletters three
weeks prior to the grand opening. After the company has allowed its target market to
acknowledge the franchise, Jump Start Health will then have a newsletter placed three times
throughout the month, attached with coupons and specials during that time frame. Being close to
a mall, managers can send an employee around to pass out flyers there at a wage of $7.00 an
hour and $199 for 5,000 color flyers from Hyde-Flyers Inc. Through this the franchise will
further its advertising within the mall area for those possibly From out of town or not familiar
with the site location. Another strategy is to have a frequent customer card where you can earn
free smoothies and sandwiches after purchasing a certain amount. The total cost for these
customer cards is based upon the price of the card and is pending on how many customers sign
up and use their frequent customer cards. Jump Start Health will also offer a daily smoothie
special, in which they will take half off that particular smoothie that is designated to that
particular day. With these promotions Jump Start Health will attempt to sway customers to the
8. location through either frequent visits or specific days in which they can enjoy their discounted
smoothies. To ensure that the customers are happy the company will have comment cards out as
well as a phone number on the receipt that they can call if they are not 100% satisfied. I want my
customers to come back, therefore if there are specific changes that have been noticed through
the customers, it needs to know about them and at best change them to the best of the company’s
ability. As part of the marketing strategy it will make sure to advertise that it is a healthy, good,
high quality alternative to fast food and will strive to make every customer feel like they are its
most valuable customer, as opposed to the competition which primarily provides unhealthy food
with little customer service. Jump Start Health largely promotes a variety of healthy products for
the customers to select from. Along with health being a factor in the company’s presentation the
product will be presented in a quick and prestigious fashion. The company will propose tests for
its employees to produce a well established product at the fastest time. This will help with the
promptness of the product as well as the quality. This test will be held every three months in
order to maintain the efficiency of the employees. Iacobucci, D. (2012).
