Market
- Submitted by: urisarav
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- Category: English: Authors
- Date Submitted: 11/13/2014 08:32 PM
- Pages: 2
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Executive Summary
Although Soren Chemical has had success in the large business pool clarifier market, the new Coracle consumer brand that the company aimed to target the small recreational and household swimming pools, which Soren has predicted to generate a $1.5 million in sales and 100,000 unit in volume, has suffered a very disappointing sale of merely 3,725 gallons at $110,000 through the first half of the selling season. The issue that Soren is currently facing is that Coracle’s sales is heavily dependent on the wholesale distributors’ willingness to promote or even carry Coracle. The business-to-consumers marketing strategy for Coracle is not meeting the sales target due to the fact that distributors lack the economic incentives to sell Coracle and the absence of existing consumer awareness and knowledge of the superior product benefits Coracle could provide to the end consumers.
From the justifications given in our case analysis, we recommend Soren Chemical to implement both a push and pull marketing strategies to most effectively create higher demand for the products. These strategies will enable them to create their desire products branding in the mind of the consumers, strengthen the product’s brand and provide opportunities and platform for future Coracle products expansion under the same brand. Accordingly, a number of recommendations were given for improving its sales opportunities allowing the company to successfully grow into the residential pool consumer segment, engage specialist, and raise distributors’ product knowledge and consumers’ brand preference.
Situation Analysis
Market Summary
The residential pool market is a fairly untapped and significant market that is larger than the $30 million market for large-scale, commercial-use clarifiers. This market is quite fragmented as there are nearly 9 million swimming pools in the US itself. The consumers for this market includes both professionals comprising of pool builders and...
Although Soren Chemical has had success in the large business pool clarifier market, the new Coracle consumer brand that the company aimed to target the small recreational and household swimming pools, which Soren has predicted to generate a $1.5 million in sales and 100,000 unit in volume, has suffered a very disappointing sale of merely 3,725 gallons at $110,000 through the first half of the selling season. The issue that Soren is currently facing is that Coracle’s sales is heavily dependent on the wholesale distributors’ willingness to promote or even carry Coracle. The business-to-consumers marketing strategy for Coracle is not meeting the sales target due to the fact that distributors lack the economic incentives to sell Coracle and the absence of existing consumer awareness and knowledge of the superior product benefits Coracle could provide to the end consumers.
From the justifications given in our case analysis, we recommend Soren Chemical to implement both a push and pull marketing strategies to most effectively create higher demand for the products. These strategies will enable them to create their desire products branding in the mind of the consumers, strengthen the product’s brand and provide opportunities and platform for future Coracle products expansion under the same brand. Accordingly, a number of recommendations were given for improving its sales opportunities allowing the company to successfully grow into the residential pool consumer segment, engage specialist, and raise distributors’ product knowledge and consumers’ brand preference.
Situation Analysis
Market Summary
The residential pool market is a fairly untapped and significant market that is larger than the $30 million market for large-scale, commercial-use clarifiers. This market is quite fragmented as there are nearly 9 million swimming pools in the US itself. The consumers for this market includes both professionals comprising of pool builders and...