Ready Mix Concrete Company is planning on developing new markets in a growing community. It had recently acquired large orders in three locations: downtown, at a mall, and in a suburb. The destinations and loads to be delivered are the following:
Delivery Site:
Downtown
Location Coordinate (X,Y): (20, 10)
Loads to site: 22
Cost of load per mile: $10
Mall
Location Coordinate (X,Y): (10, 40)
Loads to site: 43
Cost of load per mile: $10
Suburb
Location Coordinate (X,Y): (40, 20)
Loads to site: 36
Cost of load per mile: $10
Develop a marketing plan for evolving these three markets.
I'm confused on what I'm supposed to do so I need help.
All I've done so far is create a location analysis graph and found the distances between each place:
Using d= Squareroot of (X2-X1)squared+(Y2-Y1)squared
Mall to Suburb: 36
Mall to Downtown 32
Downtown to Suburb = 22
"Develop a marketing plan for evolving these three markets"
You are correct, the world wonders what this means.
I think I would look for a location that minimizes transportation costs, and assume that this can be used for staging concrete to be transported to the sites. Concrete doesn't work that way, but otherwise, I have no idea.
YOu have three sites: (20,10),(10,40),and (40,20). These have to be weighed to amount of loads, and not cost, since all are the same per mile.
X X*loads
20...440
10...430
40...1440
weighted average= (440+430+1440)/loadstotal
X avg= 2310/101=23
do the same for y, then that x,y location is the min cost place for a warehouse/storage site.
ok I did that and got x as 23 and y as 26 so when i use that against the three sites why are they not the same distance?
To develop a marketing plan for the three markets (downtown, mall, and suburb), you can consider the following steps:
1. Analyze the location analysis graph:
- Calculate the distances between each location using the formula you mentioned: d = sqrt((X2-X1)^2 + (Y2-Y1)^2). This will help you understand the geographical layout and proximity of the markets.
- Based on the distances you calculated, you have the following distances between locations:
- Mall to Suburb: 36
- Mall to Downtown: 32
- Downtown to Suburb: 22
2. Define your target audience for each market:
- Consider the characteristics of each market (downtown, mall, suburb) and identify the potential customers and construction projects in those areas.
- Determine their specific needs, preferences, and requirements for ready mix concrete usage.
3. Develop marketing strategies tailored to each market:
- Downtown Market:
- Focus on promoting the advantages of quick and efficient concrete delivery to meet the demands of urban construction projects.
- Emphasize the company's ability to deliver large loads promptly to downtown construction sites.
- Highlight any additional services or benefits, such as extended operating hours or on-site technical support.
- Mall Market:
- Highlight the company's experience and expertise in successfully delivering large quantities of concrete to commercial construction sites.
- Emphasize the ability to meet tight project timelines and work collaboratively with contractors and developers.
- Offer competitive pricing for bulk orders.
- Suburb Market:
- Promote the company's ability to provide cost-effective solutions for residential construction projects.
- Emphasize the convenience of timely deliveries to suburban areas to minimize construction downtime.
- Highlight any eco-friendly or sustainable practices implemented by the company, appealing to environmentally conscious customers.
4. Implement targeted marketing campaigns:
- Utilize various marketing channels such as online advertising, social media promotions, industry publications, and networking events.
- Create compelling content tailored to each market, showcasing the company's competitive advantages and unique selling points.
- Consider offering special promotions or discounts for first-time customers or large orders to attract new clients.
- Collaborate with architects, contractors, and other key stakeholders to build relationships and gain referrals.
5. Monitor and evaluate the results:
- Regularly assess the effectiveness of your marketing strategies and campaigns.
- Track key metrics such as increased sales, new customer acquisition, customer feedback, and market share.
- Adapt and refine your marketing plan based on the feedback and performance of each market segment.
Remember, the success of your marketing plan will depend on a thorough understanding of each market's specific needs, effective communication of your company's value proposition, and continuous evaluation of your marketing efforts.