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Essay / Research Paper Abstract
A 5 page paper discussing the dilemma of Majestic City Helicopters. The company began retailing toy helicopters in 1994 after realizing that the core business of providing helicopter tours of London likely had little room for any further growth. Business was promising enough at the beginning, but since has declined each year. A marketing consultant has made suggestions; it is now left to the company to decide what it will implement and how it can best approach increasing sales of its toy helicopters. The paper suggests moving away from the mass market to upscale outlets and otherwise addressing its marketing mix. Bibliography lists 8 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSmktgHelicop.rtf
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Unformatted sample text from the term paper:
retailing toy helicopters in 1994 after realizing that the core business of providing helicopter tours of London likely had little room for any further growth. Business was promising enough
at the beginning, but since has declined each year. A marketing consultant has made suggestions; it is now left to the company to decide what it will implement and
how it can best approach increasing sales of its toy helicopters. The Marketing Mix As competition continues to increase well past the point
at which nearly everyone believed it could not surpass, the marketing mix continues to become even more significant for marketers. The four Ps - product, price, place and promotion
- provide a method of breaking down the marketing mix into manageable and maneuverable components. As more marketers seek the attention of more customers in a relatively finite number
of outlets, close management of each "p" is critical to the success of any product. Product. When considering or developing a new
product, organizations need to take care that it is consistent with organizational goals and its mission. The organization also needs to ensure that it has the financial and human
resources to support the product while not attaching the entire future of the business on a single product. "All products have a finite
life cycle" (Fischer and Keith, 2001; p. 4Ps), and marketers should not be hesitant to abandon a product that is not performing to expectations. It is for this reason
that all the "Ps" of the marketing mix need to be carefully addressed. If the product fails to meet expectations, the fault needs to be that of the product
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