BEST NEW PRODUCT TARGET GROUP PRICING STRATEGY TRADITIONAL MOUSE TRAPS COMPANY MOUSE TRAPS TRAP-EASE AMERICA

1. Trap-Ease America:
The Big Cheese of Mousetraps

2. Answers to questions
Question 1
In order to evaluate any investment opportunity investors need to conduct a detailed
analysis concerning a variety of different issues. The first question to address is a size
of potential market i.e. evaluation of demand for a new product and estimation of
company’s potential market share. The second crucial issue to address is the analysis
of all elements of product’s marketing mix i.e. product, price, promotion and place
(Kotler et al. 1999). In order to develop effective marketing strategy investors should
analyse forces that shape industry competition according to M. Porter’s model (Porter,
2008) i.e. direct competitors, customers, suppliers, potential entrants and especially
substitute products, their characteristics and prices. To sum up, investors of Trap-Ease
America should have had analyzed the market for mouse traps, its trends and
perspectives; direct competitors, their products and prices; whether there are any other
innovative products or more efficient technologies in fighting against mouse etc. I also
think that it would be helpful to launch a market testing campaign in order to find out
consumers’ preferences, perceptions and attitudes towards Trap-Ease.

3. The company could have defined its mission statement like “our mission is to help you
to get rid of mice”. I would prefer to formulate company’s mission as follows “our
mission is to make your life more convenient”.
Question 2
Martha has identified women as a target group based on her suggestions that women
don’t like traditional mouse traps and thus they would be more willing to buy Trap-Ease.
This decision was further backed up by the fact that men were more likely to use
traditional spring-loaded traps. I think that the main problem underlying this approach to
selection of target group was to …
More on assignmentlab.com/ln-slideshare