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분야
docx2 Introduction
3 Environmental Analysis
4 STP
1) Segmentation
2) Targeting
3) Positioning
5 Recommendation
1)The Very Waffle needs to convert to relationship marketing
2) Expanding the store is recommended
3) The very waffle should stabilize its business hours
4) Promotions should be implemented
To understand and analyze the market environment of The Very Waffle, we applied various marketing techniques.
1)Current position; Market Leader
We wanted to know The Very Waffle’s current position in the waffle market. Thus, we conducted research on it and the result was that The Very Waffle accounted for about 71.9% in the waffle market.
2) BCG Matrix
The Very Waffle is cash cow according to BCG(Boston Consulting Group) matrix. BCG matrix ranks the business units (or products) on the basis of their relative market shares and growth rates. Business units are divided in four categories-stars, cash cows, question marks, and dogs. Among these four categories, according to researchsurvey, The Very Waffle is categorized as cash cows. Cash cows are units with high market share in a slow-growing industry. There is little possibility that other waffle business will enter the market because waffle market near Korea University is regarded as a “mature” market. In addition, 71.9% of the people surveyed said that they would go to The Very Waffle to eat waffle, which means that The Very Waffle has high market share. In this sense, The Very Waffle generates cash in excess of the amount of cash needed to maintain the business while maintain current market shares.
