Specific Segment Of Sonite Market Essays

Specific Segment Of Sonite Market Essays

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Focus on specific segment of Sonite market is very crucial in Markstrat simulation because we would able to focus on analyzing our portfolio and took immediate actions to improve and reposition our products. Our Sonite products, SOFT and SOLO were not focus on targeting Shoppers and Savers though we acknowledged that both segments are the largest one, even for the next five periods. We were split a few portion of our advertising to raise awareness and obtain the market share for other segments (Professionals, High Earners, and Explorers) throughout the first three periods. Nevertheless, we were not able to gain awareness and market share of these segments because our initial product’s attribute was far from their ideal values. Furthermore, we did not spend the budget to develop the existing Sonite products gradually. So, our products were not able to compete and had the least purchase intention from the consumers. Team has to balance the budget to develop the existing Sonite products and put a large amount of budget as R&D to develop new Sonite products to target othe...

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