Business Administration 1220E Study Guide - Ian Tyson

• School: Western University
• Department: Business Administration
• Course: Business Administration 1220E
• Professor: Trina Ruthes

Document Summary

The goal of this company is to generate million in annual revenue while also trying to figure out what price is best to sell the new dreadnought guitar. To help increase revenue, selling accessories was being considered as a new option, along with whether or not to get the new guitar endorsed. Following this direction, deciding how to advertise their products were up for debate along with if the existing target market of 45-60 year old males was still appropriate or if a different target market should be marketed. With a marketing budget larger than before this is going to help create more awareness than before. With better exposure within the guitar industry, sales should also increase. However, with the online only approach, it has some drawbacks, which can be overcome with a good strategy, which will be talked about later in the 4 p"s.