Professional Documents
Culture Documents
Problem Statement
EKI has experienced a decrease in market share from 16 to 11 percent over the last year. EKI is looking
to regain the lost market share through a new product line, Numen. If the product is not successful, the
company’s financial stability will be jeopardized.
Criteria
The most effective solution will increase market share (Criteria 1), spread brand awareness (Criteria 2),
maintain relevancy in our customer base (Criteria 3), and that the solution is cost-efficient (Criteria 4).
Four possible solutions are to do nothing, market to consumer audiences, market to commercial
audiences, or market to both consumer and commercial audiences. The consumer-oriented approach
would focus on women with strong family values, who are the primary shoppers in most households. This
fits well with our criteria because it has the possibility to increase market share, emphasizes brand
awareness, maintains relevancy in our current customer base, and that the solution is cost-efficient (see
Appendix 2). The commercial-oriented approach would focus on restaurants and institutions, who would
buy the product line in bulk. This fits with some of our criteria, as it can increase market share but will
limit brand awareness and relevancy with our customer base.
Anticipated Results
We plan to measure an increase in market share by amount of product sold. The spread of brand
awareness will be measured through surveys. Relevancy will be measured by monitoring media vanity
Tel: (317) 555-7284 Fax: (317) 555-8253 E-mail: EKI-info@edesia.com Web Site: www.edesia.com
Page 2 of 3
metrics when the product line launches. Cost efficiency will be measured by allocated budget. The
proposed tactics are outputs of the objective. The immediate response would be an increase in brand
awareness. The near-term response would be increase in sales and revenue, while the long-term response
would be a gain of at least five percent of the market share and maintaining customer loyalty.
To implement this plan, we would require an allocation of funds, collaboration with EKI marketing team,
and support from the executive board. If you choose to move forward with this plan, you can expect an
increase in market share and brand awareness, while maintaining relevancy with our current customers.
Appendix 1
CLIENT’S VISION: To market a new product to family-oriented women that will regain
the company’s former market presence.
Appendix 2
References
Chen, S. & Williams, M.J. (2013). When “mom’s the boss”: Control over domestic decision making
reduces women’s interest in workplace power. Group Processes & Intergroup Relations, 17(4),
436–452.
Kahl, M.L. (2009). First lady Michelle Obama: Advocate for strong families. Communication &
MarketLine Industry Profile. (2012 June). Global housewares & specialties. MarketLine.
Olenski, S. (2016, July 20). How brands should use celebrities for endorsements. Retrieved from:
https://www.forbes.com/sites/steveolenski/2016/07/20/how-brands-should-use-celebrities-for-
endorsements/#6f501fd45593.