Moral Ecology of a Forest and Marketing management

Question: How to butterflies craft can be profitable and sustainable using natural resources in market. Answer: Strategy Formulation: Segmentation: The process of segmentation involves discovery of the kinds of consumers existing in the market with varied needs (Porter and Heppelmann 2014). For instance in the auto market, certain consumers demand speed along with performance, while the rest might opt for safeties of the cars. The product in discussion, the butterfly craft has also different demands in its market. Certain high society people might want it to decorate their house interiors while students pursuing higher studies in arts and hand-made craft products might want it to learn something new. However, the interesting part with this product is that no matter what customer exists or is in need of these crafts, the products are all same. The only thing that differs is the purpose for which the consumers would want to buy this product. The high income group consumers are the ones who would comprise of the major segments for such products. Customers who want to stand separately from the crowd generally desire this kind of products. They want to show others they possess something that is unique and classy and comes at a price that is not affordable by many (Hollensen 2015.). Moreover, these butterfly craft products should be made available in those demographics where the producers have the best chance to find consumers to buy such products. Targeting: In this targeting step, the company likes to target on or more segments and that choice depends on various factors. For products like this, the makers try finding out the broadness of the segment and the ways it would grow over the years (Venter, Wright and Dibb 2015). Moreover, the manufactures also need to identify whether they acquire that required strength to assist in appealing a particular segment of consumers for long time. The manufacturers need to consider certain markets and identify people present in that market and ask them certain questions. The makers should not question those people about the business; rather it should be an informal discussion where people speak about themselves, giving them enough opportunity to express themselves and the kind of art lover they consider themselves to be. It should not be any sort of surveys or multiple-choice questions that normal companies tend to do, its more of giving them the chance to explain themselves. The target market for such products would be as stated earlier the high-income group of people. People who might not have enough knowledge about such arts and crafts like butterfly design, but still buy them in order to design and decorate their homes as they have the money to do so. Then there might be people who are ardent art lovers and want possession of such products as a part of their art collection. Lastly, the arts students who are pursuing their careers and learning different forms of arts and crafts might want to have these products at certain times. Positioning: The process of positioning takes into account the factor of implementing in the target market. Effective positioning of product is essential for success, even more while marketing a new product or a product that is made of natural resources and can be scarce (Kotler et al. 2015). The producers should address the significant buying criteria of customers and articulate main characteristics of products. Arts and crafts like those that butterfly design is made by certain group of artists and the popularity of such art design would help in focusing on the community of artists that best makes such crafts. The manufacturers need to aim in directing their focus towards the unique characteristics of definite users and their purchasing decisions. Marketing Mix: Product: The product in discussion is the Butterfly designed craft that is being made out of natural resources. There are certain factors that are associated with the products that need to be identified and understood by the manufacturers or producers (Huang. and Sarigll 2014). For the fact that it is made of natural resources makes this product even more special that needs to be handled carefully. The makers should be able to utilize these natural resources to the best of their capabilities so that nothing goes waste and the consumers get the best designs for their walls and interiors. The product would be introduced in different forms like leaves of branches of trees, marble papers or tissue papers and should be priced accordingly. Price: The term Price can be referred to the choice of suitable methods in forming the real price of the products. It is no furtive that people does pay detailed attention to the price factor of the purchased product, especially if the product is costly. Price is the only factor that generates sales revenue. The value factor of the customer needs to be weighed before making any decision regarding price. As the butterfly design craft is made out of natural resources the price is stated to be higher, even more because of the fact that it is produced for high-income people (Henderson 2015). The clients may be price sensitive. The high-income people generally likes buying handicrafts which are high price and unique as it upgrades their status even more. The prices of tissue paper butterfly crafts specially for children will be priced at mid-level, whereas, the butterfly craft of leaves from trees would be priced at high level. Place: It is the method of transferring and accumulating goods and making them reachable to consumers. Reports suggest that one fifth of the cost of products is related to distribution. Distribution of such crafty designs need to be done very carefully as a little slip would damage the whole product which is impossible to replace. The place of distribution needs to be according to the target market. The producers or the suppliers should know where art lovers or potential buyers of such products go to buy them. The products should be made available to stores that sell such items and are situated in posh areas where the target buyers visit often. Promotion: It is the real procedure of communicating with customers. In this process organizations or producers provide customers with relevant information required to make decisions. The promotion of such natural resource made Butterfly crafts can be at big art exhibitions, trade fair where art lovers often visit (Coloniality 2016). Such exhibitions and fairs could aim at producing the positive response of customers and deals with promotional strategy decisions. These products might not be available in huge numbers to the consumers. Therefore, the consumers need to be quick and prompt in their decision making to have something of this sort. Reference: Coloniality, D., 2016. conservaTion rebels.Moral Ecology of a Forest: The Nature Industry and Maya Post-Conservation, p.157. Henderson, L., 2015. New Lissadell craft shop off to a great start. Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Huang, R. and Sarigll, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-132). Springer New York. Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2015.Marketing. Pearson Higher Education AU. Porter, M.E. and Heppelmann, J.E., 2014. How smart, connected products are transforming competition.Harvard Business Review,92(11), pp.64-88. Venter, P., Wright, A. and Dibb, S., 2015. Performing market segmentation: a performative perspective.Journal of Marketing Management,31(1-2), pp.62-83.