MRK200 Introduction to Market Research

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MRK200 Introduction to Market Research
Question
Answered

Task:
Instructions:

You are Rhonda Kellman, former co-founder of the Boston Beer Company and recent founder of Moonshot Beer.  It is clear that your first attempt at starting up the company was fraught with problems, as you failed to perform even the most basic of business principles such as patenting your idea and researching your industry.  

Pretend that we travel back to the start of Moonshot Beer – you now miraculously have a second chance to make things right.  Please provide the following information by doing the appropriate research (use present day numbers):

1)Perform an external analysis of Moonshot Beer, including

a.PESTEL(whole) analysis, to identify what external items might impact your business and how 

b.Plot a perceptual map of the United States beer industry, using two characteristics that consumers think are most important (research this) 

2)Choose your target market

a.Segment the consumer market and choose your specific target market for Moonshot.  Be as descriptive as possible about your target market, and explain why you made your decisions (also please describe any assumptions you made).

3)What is the size of your target market?

a.This would be the number of potential consumers who fit within the characteristics of your target market.  You can find this through research.

4)If each potential consumer in your target market purchased one bottle of Moonshot at $5, how much revenue will you make?

Formatting:

Title Page with name, professor, course name; 1″ margins; 12 pt font; professional layout MLA style (including internal citations and a works cited page).  

Grading Scheme:

1)Completeness and correctness: did you address each of the above 4 sections completely and correctly? 

2)Quality of Research: did you do enough research, and was it the right research? 

3)Formatting/Professionalism: did you follow instructions properly

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