- Posted by: essay
- Category: Free essays
The marketing strategy
When any product appears in the market, it becomes a novelty at first, so when the company creates a product the marketer needs to accept the basic idea of the product conception, which gives the answer to the question: what in reality will a buyer get? In fact, any product is encased in a package of services for solving a problem.
The strategy involves an active stand of the firm in the market, aims to conquer and expand a niche market (to achieve optimal market share, or exceed it). Optimal market share is determined by the number of buyers in the market, and the best segment is about 20% of regular customers who purchase 80% of the products offered by this company.
During the first years it is necessary to achieve the target of at least 5%, to occupy a stable position in the market. This is achievable through the application of a strategy of differentiation, as after all, our company produces a unique product. Differentiation strategy – is an attempt to highlight the company against the other, show its distinctive advantages, features, etc. Usually, the application of such a strategy allows us to find some competitive advantages, some distinctive characteristics, some parameters for differentiation.
For the market presentation of the new eco-products, our company has chosen the following strategy – “market penetration”. Conventional wisdom says that, while companies take on huge risks and are likely to suffer more setbacks than their more conservative competitors, successful innovative companies are usually generously rewarded. It is assumed that the competitive advantages of the firms that penetrate to a new commodity market with new eco-products ( that are innovative products) can be sustained during the growth stage and maturity stage product life cycle, resulting in a strong position with regard to market share and an essential income.
We have chosen the differentiation type of product policy, that is a process of elaborating a number of significant modifications of the goods, which make it different from goods of competitors. Differentiation is based on improving the attractiveness of the product due to its diversity. In marketing a product differentiation is also the development and presentation in the market versions of the goods, additional to those that are already on the market.
The purpose of product differentiation is to increase its competitiveness, increase the attractiveness of the goods by taking into account the characteristics of individual markets or market segments, consumer preferences.
At the beginning of presentation of new eco-products on the market the company should attract buyers by:
– Presentation of the opening of the store;
– Advertising company
– Flexible pricing tactics
– Start a program to promote the product.
– Provide regular advertisements in local media, print ads in the form of booklets, installation of outdoor advertising (billboard).
Our company has decided to influence the consumer from all sides.
Therefore, a plan of advertising of activities for our product will be as follows:
1. In the press – in at least five weekly newspapers, and not less than ten editions of magazines.
2. The outdoor advertising: posters, billboards, transport (2 or 3 of the shield in each city).
3. On radio – daily routine video 10 times a day.
4. Commercial television- a daily video 5 times a day on different channels
5. Promo – action in children’s cafe one-time no less than 30 different cities. During her free products dealt by children for jobs and participation in competitions.
Motivation for organizing an advertising campaign that can be beat in the video or picture with the text can become a unique package, quality and taste.
6. Use of a celebrity as the face of their new marketing campaign – Jennifer Aniston, who promotes that eco-products are the secrets of her diet, that help her to be healthy and look good.
The next important steps of marketing strategy will be:
1. To expand the range of products with the exotic, rare but natural products: tropical fruit; Fresh oysters; sea cucumbers from the Far East; expensive Cheese from France and Italy; Fresh home-made yogurt from Europe, etc.
2. To provide loyalty programs, emphasizing the exclusivity of the stores of natural and environmentally friendly products; to provide delivery of products at home.
In this paper I used a marketing approach and considered the presentation of new eco- friendly products and showed the plan to promote such products on the market.
Also, I have analyzed the market of environmentally friendly products, which revealed a category of consumers and to determine the proportion of organizations in the market. Development and presentation of a new product is one of the most important areas of marketing activity, as the efficiency of this process influences the size of future profits from the sale of the product. When creating a new product, it is necessary first to develop the concept of a new product: its idea, the physical embodiment and the image for the buyer.
We decided to develop a new and unique kind of environmentally natural products in an environmentally friendly packaging. First, we determined the type of needs, have formed a new product properties. And determined the factors influencing the customer’s purchase: the importance of the concept of ecological purity and naturalness for consumers, the customer experience own -evaluation of taste, eco-packaging , strong advertising campaign. The ways to obtain information about our product are: advertising in the media, celebrity advice, opinion of doctors, friends and relatives.
Brooks, L J & Dunn, P 2010, Business& Professional Ethics for Directors, Executives & Accountants, 5thedn, South-Western Cengage Learning, Canada, p.410.
Choi, C, & Berger, R 2010, Ethics of Celebrities and Their Increasing Influence in 21st Century Society, Journal of Business Ethics, vol. 91, no. 3, (February 1), pp. 313-318
Coddington, W, 1993, Environmental Marketing, New York: McGraw-Hil.
Elkington, J & Hailes J,1993, The Green Consumer.
Kilbourne, W.E. & Beckman, S.C, 1998, “Review and Critical Assessment of Research on Marketing and the Environment”, Journal of Marketing Management, 14(6), July, pp. 513-533.
Meyer, H, 2000, “The Greening Corporate America”, Journal of Business Strategy , January.
Stoeckle, A , 1994, “Green Consumerism and Marketing, Encyclopedia of the Environment, Ruth A. Eblen and William R. Eblen, eds, Houghton Mifflin.
Zinkhan, M., & Carlson L, 1995, “Green Advertising and the Reluctant Consumer.”Journal of Advertising.Summer .