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Instructions:
You are Rhonda Kellman, former co-founder of the Boston Beer Compa
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.
You have decided to use the Seneca Polytechnic Time Travel room to travel back in time to the start of Moonshot Beer in 2005– you now miraculously have a second chance to start the business again, this time with the right marketing approach.1
Please create your own document containing the following information which you will obtain by doing the appropriate secondary research2:
1) External Analysis:
Perform a CDSTEP analysis, to identify what external items/trends might impact
your business and,
Include the insights (the “so what?”) you could extract from each point. Be as
descriptive as possible.
2) Choose your target market
a. Segment the consumer market (minimum 2 different and distinct segments, each
with a minimum of 5 variables and specifics of each variable) and give each of your segments a profile name. You may input your answers into a table similar to the one shown below.
SEGMENT 1 SEGMENT 2
Profile Name
Segmentation Variable 1 + description
Segmentation Variable 2 + description
Segmentation Variable 3 + description
Segmentation Variable 4 + description
Segmentation Variable 5 + description
MRK200 – Individual Test – S24
2
b. Then choose one of the above 2 segments to be your main target for Moonshot. Be as descriptive as possible about your chosen target market, and explain why you made your decisions (also please describe any assumptions you made). Write your answer below.
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.
NOTE: Please show as much of your process as you can (even through screenshots); the final number you arrive at is not as important as the approach you took. If you need to make assumptions please state your assumptions and your reasoning.
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 and section; 12 pt font; professional layout; MLA style (including internal citations and a works cited page).
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