FAU Sports Calendar
By, Mahapatro Purabi, Banner Id- @03164664
Florida Atlantic University (FAU) is one of the fastest growing major universities in the country and a multi-campus urban university. Of its nine colleges, the College of Business is the largest with 5600 students. The four marketing majors formed a partnership to start a small business with a goal to develop and market their product to gain some practical experience in business and to fund graduate school tuition of about $2,500 per year per year per student. Their product was FAU Sports Calendar. The reason they chose this product was the start of FAU’S football team which would generate school spirit.
The SWOT Analysis of the product FAU Sports Calendar is:
Strengths:
The …show more content…
Market Segmentation for FAU Sports Calendar:
The step towards developing a segmentation strategy is to locate bases for segmenting the market. The chosen bases for market segmentation and targeting for this sports calendar offering are demographic segmentation, psychographic and situational segmentation.
Demographic Segmentation:
The variables used for segmenting FAU Spots calendar are age, gender, occupation and education. It is targeted to the age group of 16-25. The survey revealed that 68% of the students likely to buy the calendar were female. So it shows that women are more interested than men. The occupation of the target customers is the students and in terms of education, the students belong to the Florida Atlantic University (FAU). So, the product- FAU Sports Calendar is targeted to the college going students who need a place to write notes and reminders. They also wanted a calendar based on the schedule of the school year that included important university dates. This product can cater the needs of the students studying in that …show more content…
So the promotional elements of the communication mix for pushing sales of FAU Sports calendar are advertising in newspaper, flyers and personal selling. The total advertisement cost of advertising in newspaper is $500 and flyers of 8 and half inch*11” is $100 i.e. cost of flyer is $0.05 * number of copies is 2000. So we can increase advertising on flyers than on newspaper because advertising on newspaper is very expensive. Personal selling is also important because through personal selling, the manager can make effort directly at the prospect to win his patronage. So they can carry a dozen of calendars and sell to their customers.
Conclusion
I recommend the product to be 12”*12” large size light weight paper stock to satisfy the customers and even to be cost effective. The channels of distribution should be through wholesale route and retail route. The unit selling price should be $7. The advertisement on flyers should be more than newspapers.
Calculation for Break Even
Advertisement on newspaper cost $500
Advertisement on flyers ($0.05*2000) $100
Cost of photographer $3,000
Total Fixed cost $3,600
Variable cost (5000*$1.50)
By, Mahapatro Purabi, Banner Id- @03164664
Florida Atlantic University (FAU) is one of the fastest growing major universities in the country and a multi-campus urban university. Of its nine colleges, the College of Business is the largest with 5600 students. The four marketing majors formed a partnership to start a small business with a goal to develop and market their product to gain some practical experience in business and to fund graduate school tuition of about $2,500 per year per year per student. Their product was FAU Sports Calendar. The reason they chose this product was the start of FAU’S football team which would generate school spirit.
The SWOT Analysis of the product FAU Sports Calendar is:
Strengths:
The …show more content…
Market Segmentation for FAU Sports Calendar:
The step towards developing a segmentation strategy is to locate bases for segmenting the market. The chosen bases for market segmentation and targeting for this sports calendar offering are demographic segmentation, psychographic and situational segmentation.
Demographic Segmentation:
The variables used for segmenting FAU Spots calendar are age, gender, occupation and education. It is targeted to the age group of 16-25. The survey revealed that 68% of the students likely to buy the calendar were female. So it shows that women are more interested than men. The occupation of the target customers is the students and in terms of education, the students belong to the Florida Atlantic University (FAU). So, the product- FAU Sports Calendar is targeted to the college going students who need a place to write notes and reminders. They also wanted a calendar based on the schedule of the school year that included important university dates. This product can cater the needs of the students studying in that …show more content…
So the promotional elements of the communication mix for pushing sales of FAU Sports calendar are advertising in newspaper, flyers and personal selling. The total advertisement cost of advertising in newspaper is $500 and flyers of 8 and half inch*11” is $100 i.e. cost of flyer is $0.05 * number of copies is 2000. So we can increase advertising on flyers than on newspaper because advertising on newspaper is very expensive. Personal selling is also important because through personal selling, the manager can make effort directly at the prospect to win his patronage. So they can carry a dozen of calendars and sell to their customers.
Conclusion
I recommend the product to be 12”*12” large size light weight paper stock to satisfy the customers and even to be cost effective. The channels of distribution should be through wholesale route and retail route. The unit selling price should be $7. The advertisement on flyers should be more than newspapers.
Calculation for Break Even
Advertisement on newspaper cost $500
Advertisement on flyers ($0.05*2000) $100
Cost of photographer $3,000
Total Fixed cost $3,600
Variable cost (5000*$1.50)