Marketing Simulation Report for the Product PirateEye Term Paper

Marketing Simulation Report for the Product PirateEye - Term Paper Example The term paper "Marketing Simulation Report for the Product PirateEye" presents the outcome of a marketing simulation, which was undertaken as a brand manager for the introduction of the new product, PirateEye. When dealing with a monotonous competitor who has monopolized the market for such a long time, it is very difficult to penetrate the market and make any remarkable impressions. But this could be made possible in the midst of hard work and dedicated service. It is for this reason that as a brand manager, much time was taken to undertake a detailed marketing simulation to identify the rubrics of the present marine transport market and make necessary impact on the market. Presently, there are several services and product providers in the marine transport business. However, not much of these people deliver security systems to boat owners. There is actually only one competitor when it comes to the provision of pirate related security systems. This report, therefore, presents all po ssible options to the company to implement in order to ensure that the company achieves its goals for penetrating the current market. The report identifies the market target, the consumer behavior of the identified market, market segmentation, targeting, and positions, as well as the appropriate marketing mix to use in other to achieve the goals and objectives set for the company in the next six years. Recommendations are made throughout the report to on how competition with the existing competitor can be rigorous and result oriented.... There is actually only one competitor when it comes to the provision of pirate related security systems. This report therefore presents all possible options to the company to implement in order to ensure that the company achieves its goals for penetrating the current market. The report identifies the market target, the consumer behavior of the identified market, market segmentation, targeting and positions, as well as the appropriate marketing mix to use in other to achieve the goals and objectives set for the company in the next six years. Above all, recommendations are made through out the report to on how competition with the existing competitor can be rigorous and result oriented (Knill, and Tosun, 2008). Evaluation of the Targeted Market The target market referred to in this case are the customers with whom the company may want to do business (Jost, 2003). From this perspective, it can be said that boat owners on the coastal lands of the localized marine industry are the targete d market. This not withstanding, there is even a larger market for the company as the fortunes of globalization and break in corporate borders makes it possible to trade off products to boat owners all over the globe. The demographics of the targeted market are such that there can be two major groups of boat owners found. The first group is those who own larger boats whiles the second group is made up of those who own smaller boats. Currently, the business attention of those who own larger boats is on crude lifting while the business attention of those who own smaller boats is on human transport (quote). With any of these two however, there is a high level of security concern, especially when it comes to the issue of pirate activities. With