...To: Professor Noel, MAR 3023 Subject: Marketing Strategy Planning Process Reference: WSJ website http://online.wsj.com/news/articles/SB10001424052702304572204579503152367562652?mg=reno64-wsj Date: April 15, 2014 Coke’s Profit Drops But Key Emerging Markets Post Growth This article is an example of the Marketing Strategy Planning Process. According to Marketing: Defined, Explained, and Applied, by Michael Levens, marketing planning is defined as “including those activities devoted to accomplishing marketing objectives.” Situational Analysis: This article is discussing Coke’s profit drops. According to the article, Coke is the world’s largest beverage company, and while Coca-Cola Co.’s profit and revenue shrank in the first quarter, the company staged a rebound in key emerging markets and sales of non-carbonated drinks accelerated. When applying non-carbonated drinks of Coca-Cola Co. to the BCG matrix, they would be Cash Cows. Target Market: Coca-Cola’s target market are young adults to middle aged people. They have been successfully dominating it’s target market for years. Positioning: Brand positioning is “the location that a brand occupies in the marketplace relative to its competitors” (page 120). Coca-Cola belongs in the attributes level because this level includes smells, tastes, textures and ingredients. 4 P’s (Product, Price, Place, and Promotion) The product strategy is rebounding in key emerging markets and sales of non-carbonated drinks. The pricing...
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...Guidelines for Assessment 3: Assignment: Creating, Communicating and Delivering Value Background Reading: You must read Chapter 9: Market Segmentation, Targeting and Positioning to understand the process of STP, before you attempt the assignment. Students relying on slides will find themselves confused. Spend time reading the chapter and ask your lecturer questions during consultation hours if you are not clear about any concept. Please do not email to understand theory. Choosing the watch/fast food restaurant: This is the most critical step of your assignment. Your product/service must have a clear differentiating competitive advantage. If your watch is ordinary and does not have a feature that makes it unique, you will find your assignment “bland” and so will your tutor, same applies for fast food restaurant. Conduct extensive research by visiting watch outlets, malls, restaurants, or visiting their websites and carefully select your watch or restaurant. Evidence: In this assignment, we want you to give evidence to almost every claim you make. For example, if you say Kellogg’s Special K is targeting female consumers who have an active lifestyle, then you should look for an advertisement that shows a girl in activity consuming Kellogg’s Special K. Similarly, if you claim Dominos differentiates itself in terms of “Services” then you must find an advertisement that shows Dominos claiming to be Pizza Delivery Expert with 30 minutes delivery promise to support your...
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...Marketing Segmentation and Product Positioning Marketing Segmentation and Product Positioning According to the author, Dawn Iacobucci of our textbook, Marketing Management, in our society economists say that “imperfect competition exists” meaning that “consumers have unique needs and desires; so collectively, a marketplace of consumers is heterogeneous“ (Iacobucci, 2010, p. 15). This methodology takes into account the distinction and diversity of individuality of the consumers; each consumer has their own different perceptions, experiences, and preferences requiring that different products be produced in order to meet their different segment needs (Iacobucci, 2010). Consumer purchasing is motivated by many different needs ranging from basic biological needs to more intangible and conceptual needs that reflect their personal well-being (Iacobucci, 2010). The strategy used to address customer’s unique differences and Therefore, a market segment is a group of consumers that shares similar inclinations toward your brand (Iacobucci, 2010, p. 16). If marketing were a continuum, the extremes would be “mass marketing” and “one-to-marketing” with “market segmentation” representing the median. The Frat House will utilize a concentration approach marketing strategy, a market segmentation approach whereby a company develops one marketing strategy for a single segment (Ferrell, Hirt, & Ferrell, 2009, p. 371.) It will attempt to cater to the varied taste, needs,...
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...Marketing and positioning strategy Product – Apple’s portfolio ranges from personal computers to iphones, iPods and even computer software. Its products are known for good performance and quality. It is mostly the quality of the products that attracts people to Apple products over the other. Apple has positioned its products in the minds in the consumers as a product of high quality and as a result has been able to build up brand loyalty. If there is any faulty in the products, Apple ensures that it is identified and corrected as soon as possible, and instead of trying to get the products to the customers as soon as possible, they take time to perfect the product. Unlike most firms, it does not compromise on the quality of the product. In addition to this, Apple’s products are also known for its unique features which cannot be replaced by other companies. It focuses on product differentiation a lot. A PC cannot be substituted for a Mac as they provide two completely different experiences, and an iMac user is very unlikely to switch to anything else. With the constantly advancing technology, Apple needs to keep updating and inventing new products. Price - Apple is considered to be a premium product with high quality. Unlike most firms in the electronics industry who try to win customers over by using competitive pricing, Apple focuses more on the products and does not try to complete on price. It uses premium pricing and price skimming where a high price is charged for...
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...Marketing segmentation, targeting strategy and positioning of Greggs PLC * Table of Contents * Introduction 1 Segmentation analysis 1 Benefits Sought - Healthy food 1 Lifestyle 1 Demographic and Geodemographic 1 Target marketing strategy analysis 2 Price 2 Promotion 2 Positioning Analysis 2 Competitiveness 2 Clarity 3 * Conclusion 3 * References 4 * Appendices 5 Introduction : In these days the business environment is in high competition, due to that it is essentially important for a company to have knowledge and recognizing their marketplace (Key Note, Oct. 2012). This report to analyze the marketing segmentation, targeting strategy and positioning of Greggs PLC in the UK sandwich shop market. 1 Segmentation analysis: Marketing segmentation is an important way to know and understand the needs and attributes of the customers and fulfill it (Jobber, 2010). The author has used Jobber approach by covering one keys from behavioural segmentation (Benefits sought in Healthy food and price), one key from Psychographic segmentation (Lifestyle) and a combine of two from Profile segmentation (Demographic and Geodemographic). 1.1 Benefits Sought - Healthy food : Many people nowadays are more concern about their health. They normally look at the list of content and check how many a food contains of calories, fat and if there a harmful content...
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...Farm Rio Atividade Monitorada: Visita ao PDV, análise de posicionamento, marketing mix e segmentação. FGV-EAESP ÍNDICE 1. Introdução ........................................................................................................................................................................... 3 2. Análise da marca ............................................................................................................................................................... 4 2.1 Mix de Produtos ......................................................................................................................................................... 4 2.2 Preços ............................................................................................................................................................................. 5 2.3 Localização ................................................................................................................................................................... 5 2.4 Apresentação .............................................................................................................................................................. 6 2.5 Atendimento ................................................................................................................................................................ 6 2.6 Comunicação .......................................................................................
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...UNIT-IV Product positioning concept Although there are different definitions of Brand Positioning, probably the most common is: identifying a market niche for a brand, product or service utilizing traditional marketing placement strategies (i.e. price, promotion, distribution, packaging,and competition). Also positioning is defined as the way by which the marketers creates impression in the customers mind. Positioning concepts More generally, there are three types of positioning concepts: 1. Functional positions o Solve problems o Provide benefits to customers o Get favorable perception by investors (stock profile) and lenders 2. Symbolic positions o Self-image enhancement o Ego identification o Belongingness and social meaningfulness o Affective fulfillment 3. Experiential positions o Provide sensory stimulation o Provide cognitive stimulation Perceptual mapping Perceptual mapping provides answers to these vital questions: • What is your market position relative to your competitors? • What are your strengths and weaknesses? • Where are there gaps in the market? • How do you measure up to the “ideal?” • What strategies will improve your competitive position so that you are both relevant to the market and differentiated from competitors? The process includes developing the attributes—either functional, emotional, or both. Survey respondents rate the client brand and competitive brands on each of the attributes, and attribute importance and ideal...
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...[pic] BACHELOR OF BUSINESS ADMINISTRATION WITH HONOURS SEMESTER JAN 2014 BBMP1103 MATHEMATICS FOR MANAGEMENT MATRICULATION NO : 791016145081001 IDENTITY CARD NO. : 791016-14-5081 TELEPHONE NO. : 019-6641264 E-MAIL : arman_saad@yahoo.com LEARNING CENTRE : SHAH ALAM TABLE OF CONTENTS PAGE QUESTION NO. 1 3 – 5 QUESTION NO . 2 6 – 7 QUESTION NO . 3 8 – 9 QUESTION NO . 4 10- 11 Question 1 x + 2y + z = 4 3x + z = 2 X – y + z = 1 a) Function into a matrix form, let A be the coefficient matrix 1 2 1 x 4 3 0 1 y 2 1 -1 1 z 1 A = 1 2 1 3 0 1 1 -1 1 b) Determinant of A = 1 0 1 -2 3 1 + 1 3 0 -1 1 1 1 1 -1 = 1 (1) -2 (2) + 1 (3) = 1 - 4 + (-3) = -6 c) Minor of A = 1 2 -3 3 0 -3 2 -2 -6 d) Cofactor of A = 1 x 1 = 1 -1 x 3 = -3 1 x 2 = 2 -1 x 2 = -2 1 x 0 = 0 -1 x (-2) = 2 1 x 3 = 3 -1 x (-3) = 3 1 x (-6) = -6 = 1 -2 -3 -3 0 3 ...
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...Key Issue 1 : การสร้างความแตกต่างเนื่องจากการเพิ่มขึ้นของคู่แข่ง เนื่องจากในปัจจุบันมีการเพิ่มขึ้นของคู่แข่งขันของ Starbucks จำนวนมาก ทั้งคู่แข่งรายใหญ่และคู่แข่งรายย่อยในแต่ละท้องถิ่น ซึ่งหลายรายมีการนำคอนเซปต์ “Third Place” ที่เป็นจุดเด่นของ Starbucks มาใช้ มีการออกแบบร้านที่เจาะจงลูกค้าเฉพาะกลุ่มมากขึ้น รวมถึงการขายกาแฟ Premium เช่นเดียวกันแต่ในราคาที่ถูกกว่า เพื่อมาแย่งส่วนแบ่งทางการตลาดของ Starbucks ดังนั้น Starbucks จึงต้องหากลยุทธ์ในการสร้างความแตกต่าง (Differentiation) ให้แก่แบรนด์ตัวเองเพื่อให้ลูกค้ารับรู้คุณค่าของแบรนด์ และจงรักภักดีต่อแบรนด์ * Strategic Alternative 1 : การเพิ่มผลิตภัณฑ์ที่ดีต่อสุขภาพทั้งที่เป็น Coffee และ Non - coffee เนื่องจากปัจจุบันผู้บริโภคมีความใส่ใจเรื่องการบริโภคสิ่งที่ดีสุขภาพมากขึ้น กลยุทธ์นี้จะดึงเอาผลิตภัณฑ์ที่ดีต่อสุขภาพมาสร้างความแตกต่าง ในส่วนของกาแฟ Starbucks ควรหันมาใช้เมล็ดกาแฟ Organic ที่มาจากแหล่งที่ปลอดภัยทั้งหมด และคิดค้นเครื่องดื่มกาแฟโดยนำส่วนผสมตามแต่ละท้องถิ่นที่มีประโยชน์ต่อสุขภาพมาเพิ่มคุณค่าให้กับกาแฟ เช่น กาแฟใส่งาดำในประเทศญี่ปุ่น กาแฟผสมน้ำขิงในประเทศจีน เป็นต้น ส่วนที่เป็น Non – Coffee ควรเพิ่มผลิตภัณฑ์ประเภทน้ำผลไม้ (Evolution Fresh), น้ำชา(Tazo Tea, Teavana), โยเกิร์ต ให้มากขึ้นเพื่อดึงดูดลูกค้ากลุ่มนี้ ข้อดี * สามารถดึงดูดลูกค้าใหม่ๆในกลุ่มคนรักสุขภาพ และรักษาลูกค้าเก่าได้ * เป็นการสร้างภาพลักษณ์ของแบรนด์ว่า Starbucks ใส่ใจผู้บริโภค และประยุกต์ตัวเองเข้ากับวัฒนธรรมท้องถิ่นนั้นๆ * ทำให้ลูกค้าได้ทดลองผลิตภัณฑ์ที่ไม่เคยซื้อมาก่อน อาจทำให้เกิดการประทับใจและซื้อซ้ำ * สร้างยอดขายเพิ่มขึ้น จากเดิมที่ลูกค้าซื้อแค่กาแฟเพียงแก้วเดียว...
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...Summary for “Targeting innovation and implications for capability development” Francis, D., & Bessant, J. (2005). Targeting innovation and implications for capability development. Technovation, 25, pp.171-183. In the introduction, the authors point out the important role of innovation in organizations and argue that innovative organizations generally possess innovation capability which can be managed. The authors then discuss in detail the four types of innovation capability (4Ps framework) and the challenges they may bring. Cases are cited to illustrate how those enterprises managed innovation capability and cope with challenges. The 4Ps framework works well in ‘steady state’ context, under which the aim of enterprise is ‘do better’. However, when discontinuity comes into play, the ‘do better’ innovation strategy is not sufficient as demonstrated by the fact that incumbent firms tend to be outperformed and thus displaced by new entrepreneurial players. Therefore, a ‘do different’ innovation strategy must be pursued by enterprises who want to explore ‘outside the box’. The authors develop an ‘innovation agenda’ covering the entire spread of 4Ps in two dimensions, ‘do better’ and ‘do different’. Managers are encouraged to specify their innovation agenda in the form of diamond diagram, including all possible innovation activities. The 4Ps model was tested through a preliminary study in an effort to assess whether this model provided a useful heuristic device capable of being...
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...operational effectiveness. But in this way, they move further away from viable competitive positions which can only be achieved by an appropriate strategy. Positioning which was once the way to go about beating competition is now rejected, since its too static. Rivals can easily copy the market position and competitive advantage. However, that is not entirely true as hypercompetition is a self-inflicted wound. It is important to watch out for what your competitors are doing, but improving operational effectiveness alone is not enough, and that cannot be your only strategy. Operational effectiveness and strategy are both important for superior performance which is what a firm aims for. A company can beat rivals if it can stand out, establish a difference it can preserve. Basically a company can either provide greater value to customers or comparable value at low prices, or both. Delivering greater value means higher unit prices, greater efficiency means lower unit costs. Cost arises from performing activities and cost advantage comes from performing activities more efficiently than your competitors. This can be in the choice of the activity or how the activity is performed. So activities are what creates competitive advantage. Operational effectiveness means performing similar activities better than rivals. Strategic positioning means performing different activities or similar activities in a different way. Productivity frontier is the sum of all existing best practices at...
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...3:People who are of mid-level income , they don’t want to perform surgery since expensive and want a substitute with is of same quality but at a more acceptable cost. | Targeting Evaluate market segments and choose the target segment.Market attractiveness criteria (segment size, segment growth, segment profitability etc.):Business strength criteria (resources, skills and competencies etc.):How would you rank the segments based on the market attractiveness and business strength (you are not going to use any sophisticated tools at this stage, simply rely on your experience and understanding): * Highest potential: segment x * Medium potential: segment x * Lowest potential: segment xYour target segment (one of the three): | Positioning Think about how you are going to position your product/service. Are you going to...
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...Strategic Option for Industry Leaders Industry Leaders need to use strategies to compete successfully in the market. To continue to stay on top and enjoy the status and income or profit potential, they must be always on the alert. Thomson and Strickland suggest that these companies need to pursue the following strategic moves: a) Stay on the offensive strategy. This attitude means that the business organization must continuously pursue offensive strategies. The following should be done: i) Be a first mover, leading industry change; ii) Best defense is a good defense; iii) Relentlessly pursue continuous improvement and innovation iv) Force rivals to scramble to keep up; v) Launch initiatives to keep rivals off balance; and vi) Grow faster than industry, taking market share from rivals. b) Fortify and defend the strategy. Relates to sealing off areas or cracks that may invite other competitors to attack or challenge the company. i) Increase advertising and research and development ii) Provide higher levels of customer service iii) Introduce more brands to match attributes of rivals iv) Add personalized services to boost buyer loyalty v) Keep prices reasonable and quality attractive vi) Build new capacity ahead of market demand vii) invest enough to remain cost competitive viii) Potent feasible alternative technologies ix) Sign exclusive contracts with best suppliers c) Do muscle Flexing. Muscle flexing...
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...What do your feet have to do with your eyes? Plenty, when you’re talking about determining your natural point of aim. In short, natural point of aim is the most comfortable position you can assume that allows you to accurately and consistently place your shots in the center of your target. As you can imagine, this is a key concept for any handgun shooter, whether it be for target practice, self-defense or competition. And developing it so you’re always on center mass is simple as a step forward or a step back, as Mark Redl demonstrates in the above video. The member of Colt’s competitive shooting team goes over the basics of determining your natural point of aim and then the process to correct it so you’re always on target. This requires...
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... commercials • 1998: Derek Jeter signs with Air Jordan Keeping the brand relevant • 2003: Michael Jordan’s final reWrement from the NBA – Nike conWnues to market Air Jordan with acWve NBA players • 2008: Large campaign around Air Jordan XX3 • Today: Many athletes in many sports part of “Jordan team” Stock Price History (87 – 10) 2000% Growth 1987 Source: yahoo.com 2010 Brand Management: Air Jordan 1. BRAND FOOTPRINT 2. PRODUCT POSITIONING 3. COMPETITIVE LANDSCAPE Brand Management: Air Jordan 1. BRAND FOOTPRINT 2. PRODUCT POSITIONING 3. COMPETITIVE LANDSCAPE 1985 1987 87-‐92 TIMELINE 92-‐96 97-‐98 99-‐00 2001 2005 2008 “Become Legendary” “Let Your Game Speak” “Will you be the one?” “ Much Respect to the Believers” “Who Says Man is Not...
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