Marketing strategy
The main purpose of aSeries is to launch our new product in the Dutch market. Launching a new product is mostly very expensive and due to that reason, most of the business faces up with many problems in their early stage. Therefore, it is important to make effective and efficient strategies to accomplish our objectives.
In the beginning, we are planning to launch our product online because of low expense and then extend to sell in general stores or in supermarkets. Strategic planning has different purposes at different levels of organization. For the purpose of marketing our product in the Dutch market, following are the focal points that we need the strategies:
Objective
Differentiate our product:
First we need a strategy
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Undifferentiated, concentrated and differentiated targeting strategies. We will use the undifferentiated targeting strategy because our target group is very specific anyway. Having an undifferentiated strategy means that we’ll send the same message to everyone, so no adjusted messages for other groups of people. This is very positive for us given the fact that our budget is quite limited.
Growth strategy
In the world of business there are different ways to grow and increase your profits in the process. Some examples of growth strategies are market penetration, market expansion, product expansion, diversification and by acquisition. Growth by acquisition for example is out of the question for us, as we don’t have the required funds to do so. So which one could we use as a new company? The most likely strategy for our company would be product expansion. Examples of this would be improving our product (adding new features) or introducing a new product altogether. Marketing mix
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Concurrently, considering the position of a newbie in this potential playing field, we must take our relatively low budget into account during looking for suitable strategies. And one of the most budget friendly and influenced solutions which is the most recommended is social media. Rated as the third most effective way, utilizing social network can help aSeries build up a consistent brand image and increase search ranking. Focus on e-commerce first, we invest in creating an official website on which all information and product images are updated. A Facebook page, Tweeter, Instagram account are also created because all of them are free of charge, easy to receive a huge amount of feedbacks and be shared widely. We will then develop our customer service to generate a buzz.
Furthermore, since we target the Hipster group, we will co-operate with some popular Hipster bloggers to make advertising videos posted on YouTube to enhance the awareness of our product.
Another marketing form reaching new and current customers easily that will be used is Email marketing. It will be utilized by aSeries aiming to build relationships with customers thanks to personalization of communication. This method is not only cheaper than others because we do not need a campaign and any printed papers for it, but also uncomplicated to implement. In our email newsletter, we will provide
I will take the time to make sure that I know what communication channels I will use. For example, email, direct mail and pay-per-click advertising could be useful tactics to use. Using these steps can help with creating future campaigns. In order for me to get the results that I want it will take some planning and coordinated
CASE STUDY: You are the marketing manager for a chain of home-ware stores in Brisbane called Houzit. The marketing plan for the 15 Houzit stores was developed over 12 months ago and you are actively engaged in implementing the strategies to achieve the marketing objectives. Specifically, you are instigating those marketing activities that meet the marketing objectives of a 12% market share (up from 11%) and an increase in sales by 8.5% over last year’s result. No expansion stores are planned during this phase of consolidation and on average the stores achieved $24,680 per week for the year.
A huge sum has been invested, so now it is really crucial for the product to succeed. Moreover the current product mix is not sufficient to bring long term profits for the company. As far as short term goals are considered, management wanted a successful launch for the product which will provide the right marketing and target of the new product line. While the long term goals involved adding variety and diversity to the product line to achieve a long term sustainable growth rather than just achieving short term
The power of social media is finally getting recognized by companies. Using sites such as Twitter, Facebook, Instagram, and Pinterest to place advertisements about a new product, or even posting a general idea of what the product you will be launching can create buzz about the new product and can be seen by thousands, perhaps millions of people. Using social media as a platform for the AIDA (awareness, interest, desire, action) model would undoubtedly secure attention, interest, desire, and action in a new successful product launch. The other recommendation I have is to plan your marketing strategy as early as possible. Planning early will allow a company to do as much research as possible to ensure that they have the correct customer target, while applying the marketing mix in the proper way, and even allowing time to make last minute adjustments before launching the product.
1.0 Introduction and Identification of Problems BabbaCo, Inc. is an American based company founded by a mother of three and serial entrepreneur Jessica Nam Kim. It started off by offering infant-related products and managed to grow the business to a few hundred thousand dollars in revenue in less than a year’s time. Soon after, the young startup encountered the problem of low repeat sales. Thus, the entrepreneur started to rethink BabbaCo’s business model. With the revamp of the product offerings, it changed to a subscription-based business model with the introduction of Babba Box.
A combination of local media and local store marketing programs will be utilized at each location. Local store marketing is most effective, followed by printed ads. As soon as the physical existence of our franchise is recognized in the market, then broader media will follow. However, we believe that the best form of advertising is still “our service delivery and our unique products. "
1.0. INTRODUCTION Every organization strives to benefit from creating value for its customers, in the most effective way, for the purpose of attaining competitive advantage in the business environment in which they operate. Philip Kotler(2015) defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit”. According to Hollensen (2003), a strategy is a fundamental pattern of present and planned objectives…”
Besides that, product differentiation is one of the threats of new entrants. Starting a new business we need to use a lot of money for advertising to attract customer, but we have to create our new things that cannot found in others competitors. For non-traditional barriers to entry, we have unique business model. We created a business with a unique design and establish a network of relationships that makes the business model work so that no people can easily to copy our
D) Marketing Plan (4Ps) Marketing Mix (4Ps) • Product – Divide product into three categories for different market o High-end function, design, and price – to target high-end group. The function will feature the highest potential such as child protection lock, built-in coffee and toaster maker, rotisserie, new technology
Identify the target customers Marketing techniques should de clearly defined Proper website should be defined Unique logo and product designed. Share for expert opinion Create a social and proactive strategy According to the literature
Firstly, the Boston Consulting Group (BCG) matrix that concentrate the market position of different products. Secondly, the experience curve and the Profit Impact of Market Strategies model which identified a number of strategic variables. Furthermore, competitive advantages model (Porter, 1985) which focus on five different forces in environment of organization, but suit with only stable market. Generic strategy was developed strategies under this school, especially it can identify position in the market. Advantages: -Provide content in a systematic way to the existing way of looking at strategy -Particularly useful in early stage of strategy development, when date is analyzed -This school emphasis on analysis and calculation can be a very strong support to the strategy development process -This strategy suit with big businesses or organization which have ability for operate effective market research in the environment
After these companies go about developing products, which may be product modification or it may be a completely new product. Product offerings are increasing every year as consumers are looking for more and more variety of products. Companies which are unable to churn out new products fall back on competition and suffer the consequences. Companies face danger not just from competitors but consumer needs, technology, and product life cycle. New product development has its share of challenges.
Introduction Every business organization is using a marketing concept which is used as a tool to identify customer’s needs. And further try to meet them by making right decisions in line with customer’s needs. In line with meeting customer’s needs the ultimate goal of every business is to gain profit. That’s why they make use of different marketing strategies to meet not only the need of the customer but as well as the goal of the company. We know for a fact that marketing strategies comprises everything from developing a product, to introducing it to the market, to selling and improving it as the need of the target market changes.
First, from the beginning of the classes I was able to design and implement marketing/business strategies in particular areas only. After that, I am able to create long-term and mutually beneficial exchange relationships between an entity and the publics with it interact. Moreover, the strategic marketing analysis & planning process such as internal & external situation assessment, strategy formulation, positioning and marketing mix were taught during lessons in detail that integrated my marketing knowledge. And as a result I also became aware with a range of new issue of marketing management and the marketing tactics in particular that were resulted from the product and branding strategy. I found strategic marketing analysis and planning of this project more challenging than
MARKET POSITIONING Positioning is the marketing process that use for an organization to identify a market problem or opportunity, and define a solution based on segmentation, market research and supporting data. Dutch Lady have a strong competitive advantage which is it provide different type of milk powder for the children from different age group. The Dutch Lady Nutri Plan with 5x DHA have provides tailored nutrition to support each smart milestone which is Curious, Explore, Create and Learn. Dutch Lady Curious is for the children of 1-2 years old, Dutch Lady Explore is for the children of 2-4 years old, Dutch Lady Create is for the children of 4-6 years old and Dutch Lady Learn is for the children of 6 years old and above.