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.
Through advertising, promoting and developing this up and coming business, marketing will produce the growth and success within this competitive market, when done correctly. The marketing strategy will cover a number of different and interrelated functions and activities such as manufacturing, operations, research, financing, personnel and commercialization. “Marketing is the activity of developing a formal game plan for meeting company sales and profit
What is competitive strategies? Competitive strategy can be defined as continuing ort long term plan of a specific company. The objective of this strategy is to ensure that their company can compete, gain advantage and to ensure that they are moving one step ahead from their rivals or competitors in the market or industry. The purpose of this strategy are to form a protective position in a market or industry and producing bigger return on Investment. Superficially, there are four types of the competitive strategy that can applied.
And at last some recommendations have been put forward by us which includes some new marketing strategies which the company can inculcate along with its current marketing strategies. REFERENCES: 1. http://www.cultbranding.com/52-types-of-marketing-strategies/ 2. http://www.zdnet.com/blog/feeds/fortune-500-series-texas-instruments-uses-social-media-to-connect-10k-engineers/796
Task 2 (LO2) Executive Summary: Firstly, the Company taken for this assignment is the Arby’s fast-food. An internal and external analysis will be made on the above Company. Added to this, link between strategic positioning and marketing tactics in general and of the company will be discussed. Finally, the target market, product and services of what the company offers will be seen and Payne and Ballantyne Model is going to be discussed. Lastly, following the external analysis been made, strategic marketing objectives will be created using the 7ps and others.
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. In marketing, customer relation is very important, since customers play the main role in achieving ones
Differentiation strategy Burger king has incorporated the strategy of differentiation by offering additional breakfast meal as the increase in the product service which makes it easy for the company to analyse it and also to fill in a coupon where the opinions of the customers are noted down which help it to be more successful in the business sector (Samadi, 2010. http://www.statista.com/statistics). Risks in competitive strategies. The competition in market poses risk factor among the companies which are working on the strategies to achieve those and make their position strong in the market place which will help them to take ahead the business strategy (Valdani and Arbore 2012
They have different locations like the corner of the streets and near the place where people lives; types of stores like convienent shops and supermarket; the form of ownerships are limited company. In gerenal most of the snacks company is limited company. For example, in the chips markets, Calbee is the main competitive firm. Their rival sellers are Pringles, Edo potato chips, Jack’n Jill, Kettle, Lay’s and Market O, etc. We can find Calbee no matter from 7-11, Circle K, Wellcome and PARKnSHOP.
Strategy We believe that marketing managers should sit and help set strategy. Their comprehension on positioning, of the markets, products, customers plays a key role in framing the strategy. Digital thinking should be integrated in our marketing strategy. Digital is relevant to our marketing effort but at Chifco we need to properly integrate digital in our culture and processes to diffuse innovation. Our motto is to “get digital”: It is a philosophy rather than just a practical approach.
Such a strategy can be achieved by venturing into new geographical markets, new product dimensions and new distribution channels. Alternatively, different pricing strategies can be adopted to attract customers and create new market segments (Tutor2u, 2009). Direct Marketing, as stated by Peter Drucker (2009), is not a function; it is the whole business seen from the customers’ point of view and captures the customers by avoiding intermediaries. Cisco uses multiple methods to promote their product such as e-marketing, direct mail, telemarketing, telephone and other tools to directly communicate with the customers. Cisco conducts various Direct Marketing campaigns such as cable television infomercials and online shopping which helps them in getting the direct response from their target audience and also to meet their demand generation goals.