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Mackenzie And Marr Guitars

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Mackenzie & Marr Guitars (MMG)
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MACKENZIE & MARR GUITARS (MMG) 2
Executive Summary
Mackenzie & Marr Guitars (MMG) operates in Canada and exclusively sells guitars
to the United States and Canada customers. The CEO's objective is to increase the
organization's sales to more than 100 guitars raising the annual revenue to $1,000,000. Marr
introduced a new guitar model in 2013 and was actively involved in setting an optimal
marketing strategy to facilitate MMG's goals. The market strategy should consider the target
market and whether MMG will use an artist's endorsement. Additionally, if the market
involves artist endorsement, the plan should define the endorsing artist's characteristics.
Moreover, the marketing strategy states the market price for the newly developed
guitar model. Other approaches to meet MMG's revenue goals may include selling guitar
accessories. Lastly, the CEO should define an appropriate manner to allocate the promotional
budget. MMG's target market is mostly male players between 45-60 years in the upper-social
economic class and residents of the United States and Canada. The target is the company's
current customer base that does not price sensitive and worth pursuing. The new model's
production costs are high, implying that the dreadnought guitar's final price is likely to be
higher compared to previous models. The high price will have a minimal effect on the sales
revenue because of the price-demand inelasticity.
MMG should consider endorsing the new guitar; endorsements in the past have
yielded massive success for the company. The endorsing artist should be famous and between
45 to 60 years. Preferably, the audience of the artist should be male. Further, the artist can be
an American or a Canadian, provided they are known in the two countries and hold a
substantial, loyal base. The dreadnought guitar selling price should be $899.99; the price is
lower than those of competitors. Hence, MMG will retain its competitive position in the
industry. The company will eventually acquire high revenue and more profits.

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1 Mackenzie & Marr Guitars (MMG) Student’s Name Institutional Affiliation Course Instructor Date MACKENZIE & MARR GUITARS (MMG) 2 Executive Summary Mackenzie & Marr Guitars (MMG) operates in Canada and exclusively sells guitars to the United States and Canada customers. The CEO's objective is to increase the organization's sales to more than 100 guitars raising the annual revenue to $1,000,000. Marr introduced a new guitar model in 2013 and was actively involved in setting an optimal marketing strategy to facilitate MMG's goals. The market strategy should consider the target market and whether MMG will use an artist's endorsement. Additionally, if the market involves artist endorsement, the plan should define the endorsing artist's characteristics. Moreover, the marketing strategy states the market price for the newly developed guitar model. Other approaches to meet MMG's revenue goals may include selling guitar accessories. Lastly, the CEO should define an appropriate manner to allocate the promotional budget. MMG's target market is mostly male players between 45-60 years in the upper-social economic class and residents of the United States and Canada. The target is the company's current customer base that does not price sensitive and worth pursuing. The new model's production costs are high, implying that the dreadnought guitar's final price is likely to be higher compared to previous models. The high price will have a minimal effect on the sales revenue because of t ...
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