Blog Four: Becoming A Marketer

          As I introduced in my earlier blog, one of our main projects in BU 215 is to create a backpack on McGraw Hill Education's practice marketing simulator with a group of four other students, "Practice is a new line of 3D, multiplayer learning games from McGraw-Hill Education. Designed against course Learning Objectives and delivered on the web and on tablets, these games integrate into the core curriculum to provide hands on, experiential learning experiences"(MHPractice). Through this online simulator, we have the ability to create a company that meets a specific market for consumers looking to purchase new, top of the line backpack that fulfills their needs. We then are able to compare our results with the other teams in BU 215 (sales, cost of goods sold, revenue, expenses). With this information we are able to revise our strategy and advance in our market. It just so happens that my team is at the top of the charts compared to our peers, excelling in our industry.
          We had to create a strategic plan that would help us grow as a company. We chose to name our company, Acres of Vermont, which is a local company with the drive to supply superior backpacks to individuals that enjoy the outdoors. Outdoor enthusiasts want a bag that can withstand any weather, has a lot of capacity, and provides enough comfort to tackle any adventure. When creating our company we had these three goals in mind:

With these three goals in mind, we believe we can create a successful company that will provide and give our surrounding communities the backpack they are looking for. We want to start at a slow pace, building a foundation for our product and then expanding when we begin to get a satisfying customer base. In our strategic plan, I wrote about our target market and our strategy for building a successful company. I thought I would incorporate an excerpt of what I wrote for the target market of our company to convey how we will go about meeting our consumers needs: "At this point in time, Acres of Vermont’s primary focus is on consumers that love the outdoors. Vermont is known for their luscious green lands, captivating mountain ranges, and alluring bodies of water. Just recently, Vermont was named the first area in the country to use sustainable renewable energy with the use of twelve wind turbines strategically placed in different areas of the state. As a company, we seek consumers that carry the same initiative for a sustainable, clean environment with the hopes of bettering communities around them. Based on statistics from our initial marketing research for these target segments, our market size is about fourteen thousand with a growth rate of five percent per year. Last year, about thirteen percent of outdoor enthusiasts purchased backpacks that fit their needs for adventure. Our hope is to introduce a backpack that grabs the attention of these enthusiasts, while also luring them in with our determination for a greener planet. In hopes of satisfying our potential consumer’s needs, our main focus and concentration is placed on what our consumers what"(Acres of Vermont Strategic Plan). This is just one part of our strategic plan, which I will go into further detail in my next couple blogs. In my opinion, the target market of a company can either make or break you. Hope you enjoyed reading, have a great day!