
Small Business Management 6th Edition by Timothy Hatten
Edition 6ISBN: 978-1285866383
Small Business Management 6th Edition by Timothy Hatten
Edition 6ISBN: 978-1285866383 Exercise 3
The bigger and stronger the competition is, the better a small business's marketing strategy needs to be. That being the case, Amilya Antonetti may need your help with a marketing strategy. Antonetti is starting a business to break into the $4.7 billion U.S. laundry detergent market, competing directly with the likes of Procter Gamble. The niche of the detergent market that she is filling is hypoallergenic cleaning products, because her infant son had health problems aggravated by chemicals in the standard brands. She started her company, called SoapWorks, after conducting market research, primarily from other mothers of infants, and finding that many other families faced similar problems. Her annual advertising budget is limited to $60,000 (about what her huge competitors spend on one 30-second prime-time network TV ad), so she had to find different ways to let people know what SoapWorks would do for them.
One of the biggest challenges SoapWorks faced was getting its products on the shelves of grocery stores. By 1999, they were in 2,500 stores from California to Florida, and the company had revenues of $5 million. How would you create such market penetration?
One of the biggest challenges SoapWorks faced was getting its products on the shelves of grocery stores. By 1999, they were in 2,500 stores from California to Florida, and the company had revenues of $5 million. How would you create such market penetration?
Explanation
Product or service marking:
Product 'A'...
Small Business Management 6th Edition by Timothy Hatten
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