...158 COURSE TITLE : Marketing Management LECTURER : Mr. Makasi DUE DATE : 29 August 2014 INTAKE 14 DAY QUESTION(S) : Your company is operating in a mature market. Identify and discuss the potential marketing strategies which your company can apply in order to remain competitive. A company in a mature market may be one that is in the hospitality industry. The company would have reached a state of equilibrium marked by the absence of significant growth or innovation. There are features that mark out such a company and they can be illustrated using tools such as the Boston Consulting Group’s matrix and the industrial life cycles amongst other observations. In the hospitality industry one may specifically look at the interesting ways a hotel may try to remain competitive in a mature market. Often the very basis for competition and creating value for the product or service will change radically when a market matures. The key aspect to succeeding may lie in the essence of the marketing concept which Kotler & Armstrong (2006:10) define as a concept holding “ … that achieveing organisational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.” So customer focus and value are what is important in order to remain competitve in the mature...
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...GRADUATE SCHOOL OF BUSINESS SCIENCES AND MANAGEMENT Platinum Insurance Company’s Marketing Program For Launching a new insurance product “Insure Your Hero” Design a marketing programme for launching a new product of your choice in a mature industry Page | 1 TABLE OF CONTENTS EXECUTIVE SUMMARY .................................................................................................................................. 3 OBJECTIVES OF THIS MARKETING PROGRAM ...................................................................................... 3 PROJECT TEAM ................................................................................................................................................ 4 INTRODUCTION ............................................................................................................................................... 5 SITUATIONAL ANALYSIS .............................................................................................................................. 6 INDUSTRY COMPETITIVE ANALYSIS ........................................................................................................ 7 PORTER’S FIVE FORCES MODEL ................................................................................................................ 8 PORTER’S COMPETITIVE STRATEGIES ................................................................................................. 10 TARGET MARKET..........................................
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...Gillett: Why Innovation May Not Be Enough 1) Evaluate product innovation at Gillett throughout its history. Has Gillett been a victim of its own success? Has product innovation in the wet-shaving market come to an end? In 1901 King C. Gillett invents the safety razor complete with disposable blades, the start of a business dynasty. From 1901 to 1938, Gillett receives its patent and introduces a blue and thin blade. From 1946 to 1969 Gillett offers the first blade dispenser, develops the first adjustable razor with three settings, adds a super blue blade w/silicone coating, introduces a coated stainless steel blade, and adds a platinum chromium coating. During the 1970’s Gillett produces the Trac 2, Good News, and Altra razors thus continuing the innovation and their market share moving forward. During the 1980’s Gillett continues its leading edge technology by producing the first razor and disposable razor with a lubricating strip and a razor with spring mounted twin blades. The 90’s stalled somewhat but the introduction of the Mach 3 was a huge product announcement. From 2000 – 2009 Gillett enhanced the features of the Mach 3 and entered the post shaving product market. In 2010 Gillett introduced the Fusion Proglide which completes the razor advancement and innovation at Gillett. On the acquisition side Gillett went on a product development campaign which included selecting a number of key products associated with different market arena’s that ultimately drove Gillett’s overall...
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...com New product launch ``mix'' in growth and mature product markets University of Strathclyde, Glasgow, UK, and University of East Anglia, Norwich, UK Keywords Marketing, Benchmarking, Product launch Abstract This research examines whether the marketing mix decisions for new product launch change over the product-market life cycle. Results raise questions about existing benchmark beliefs based on normative text-book theories. In view of new insights we suggest a number of directions for the theoretical and empirical development of the new product launch field in the marketing management discipline. New product launch ``mix'' Susan Hart 389 Nikolaos Tzokas 1. Introduction The recent flurry of attention in the new product development literature given to the actual launching of new products (Chryssochoidis and Wong, 1998; de Bennedetto, 1998; Hultink et al., 1997) has filled several important gaps in our understanding of how to launch winning new products. While these contributions have been conceived to provide a ``broad brush'' approach to describing numerous decision variables during the new product launch cycle, the research described in this paper is designed to examine an area of marketing theory in NPD for which there has been surprisingly little empirical evidence: the extent to which the marketing mix decisions for new product launch change in view of the product-market life cycle. The need to vary marketing mix decisions over the product-market life cycle...
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...Marketing Research and Segmentation Marketing for Health Care HCS/539 March 9, 2013 Marketing Research and Segmentation Marketing research is vital to the success of a health care organization. Researching patient demographics can prevent marketing errors that could close the doors of even the best hospital. Performing a lifestyle profile to be used as a demographic profile assists in segmenting the market, and provides insight into how community members will perceive the facility. Banner Boswell Medical Center (BBWMC) is located in Sun City, Arizona in Maricopa County. Patient demographics are distinctive and unique in Maricopa County, making comparative studies near impossible. BBWMC’s distinctive patient demographics make this health care organization the ideal subject for illustrating the important of marketing research and segmentation. Sun City population is 24, 132. The median age is 76.2, and the median income is $34,600 annually. Lifestyle Profile for BBWMC Psychography is an examination of how people live; their activities, interests, and opinions. Nielson’s: My Best Segments provided the most common segments for this zip code: * 49 American Classics – downscale mature without kids. The American Classics are typically retired home owners, live a comfortable lifestyle, and have deep ties to their neighborhood. Lifestyle and media traits include: ordering from Reader’s Digest, watching the Dr. Phil Show, and own Chevrolet Monte Carlo’s. * 46 Old...
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...Industry Life Cycle Evidence on entry, exit, firm survival, innovation and firm structure in new industries is reviewed to assess whether industries proceed through regular cycles as they age. A leading depiction of the evolution of new industries, the product life cycle, is used to organize the evidence it is shown that the product life cycle captures the way many industries evolve through their formative eras, but regular patterns occur when industries are mature that are not predicted by the product life cycle. Regularities in entry, exit, firm survival and firm structure are also developed for industries whose evolution departs significantly from the product life cycle. Definition of 'Industry Lifecycle' A concept relating to the different stages an industry will go through, from the first product entry to its eventual decline. There are typically five stages in the industry lifecycle. They are defined as: i. Early Stages Phase - alternative product design and positioning, establishing the range and boundaries of the industry itself. Ii.Inovation Phase - Product innovation declines, process innovation begins and a "dominant design" will arrive. iii. Cost or Shakeout Phase - Companies settle on the "dominant design"; economies of scale are achieved, forcing smaller players to be acquired or exit altogether. Barriers to entry become very high, as large-scale consolidation occurs. iv. Maturity - Growth is no longer the main focus, market share and cash flow become...
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...belief that the Chinese women had different standards for beauty and required specifically tailored cosmetic products. If Yue Sai under Cotyhad continued to build its brand under this positioning instead of focusing on distribution, the brand would be a far more prominent player in the current Chinese market due to first mover advantage. Yue Sai is currently competing in target markets and product properties that it simply cannot succeed in. Consumers that are aware of Yue Sai’s original positioning brand image are most likely in their 30-50s. Luxury cosmetic firms do not traditionally target this consumer segment. If Yue Sai repositions its brand from “cosmetics for confident, modern Chinese women” to “delicate luxury cosmetics for modern mature Chinese women”, the brand would be able to instill a distinct image in the targeted consumer’s mind relative to competition. It is the ideal positioning for a brand named after Madam Yue-Sai, who now perfectly fits the new segment. It will be able to grab a dominant share of a relatively unexplored target market. On the other hand, sub-brands like L’Oreal Paris dominate other brand images such as “luxury cosmetics for young women”. Yue Sai wouldn’t be able to compete with such a world-renown brand or possibly cannibalize sales of another L’Oreal sub-brand. Also, focusing on “natural herbal and medicinal cosmetic” positioning would be non-distinct due to already...
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...of unaided brand awareness Problem/Opportunity * Implement a growth strategy that will result in a X% sales increase for the brand * Regain market share in Mexican Sauces (steal share from Pace) Analysis * Strengths * Very large market share- suggests that they can use this to their advantage as many customers already know their products and are willing to buy one * Very diversified product line * Large distro chain: they already have a large distribution chain which believes in their products so they will likely be open to a new marketing campaign that will increase business * Weaknesses * Mature brand in a slow growing market-> means they need to either introduce a new product in this mature market or find new uses for their current products and promote them to get new clientele to grow at the mature stage * Opportunities * Launch successful marketing campaigns and new products * Threats * Private label * It is considered a premium product in Mexican meal kit section as majority of the products are priced higher than the competitors * Currently the market share for Old El Paso has been going down in 2 categories (Mexican salsa and Mexican dinner kits specifically) * Competitive Analysis * Direct * Private...
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...no added benefits from the triple or quadruple razors previously released. Gillette, an industry leader has one direct competitor, the Schick Company. Gillette is estimated to have an approximate global market share of 71%, while Schick Company holds 17%. In the past, Gillette has demonstrated the ability to combat competitive threats with innovative technology for the disposable razor, but still rely heavily on the cash cow products as new entrants are welcomed in to the market. With the constraints of limited innovation Gillette has invested largely in to their marketing strategy, in efforts to expand their market share and ultimately maximize their profits. While Gillette’s bread and butter products are in considered to be in a mature market and considered to have an enviable position in that market as an organization, market expansion is necessary. It is important for Gillette to focus their marketing plan and strategy to either capture the market share belonging to Schick or tap in to markets through the influence of western culture. SWOT ANALYSIS Strengths | Weaknesses | * Long standing History | * Loss of market share due to the distraction by unrelated ventures | * Industry leader | * Reduced credibility due to “trivial” technology boasted by recently released products | * Vast market...
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...people worldwide. Actually all the company products were manufactured in a single plant near Dallas. And there were four basic levels of independent contractors in MKC sales force: beauty consultants, sales directors, senior sales director, and national sales directors. Promotions were made on the basis of performance, and Mary Kay Cosmetics Inc. involved its sales force in product policy decisions by sending samples to them for evaluation. MKC also developed training ads programs and manuals for its sales force. For addition, the company had 100% subsidiaries in nine countries. In 1992, MKC initiated an organizational change that result in the formation of global resource group to support sales subsidiaries worldwide. MKC was facing a mature market and penetration of U.S. cosmetic direct selling companies in 1993. Also competitors of the company were successful in international market also...
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...Problem Statement: What marketing-penetration strategies should Blair-Jones Company deploy to increase sales within their current market areas for architectural paints and coatings? Situation Assessment: The United States (U.S.) paint industry is mature industry and currently a sixteen (16) billion dollar market. The entire U.S. paint industry is classified into three primary segments. The first U.S. market segment is special-purpose coating which accounts for twenty-two (22) percent of industry sales. These sales are produced for special applications where surfaces are exposed to environmental or other corrosion elements. Relative examples include manufacturing facilities, bridges, road construction and many other industrial settings. The second U.S. paint market segment is original equipment manufacturing OEM coatings. These coatings are applied to durable goods to meet certain specifications of the manufacture. The original manufacture applies the paint coatings to the durable goods during production. OEM sales account for thirty-five (35) percent of the U.S. paint industry. Relative examples include industrial machinery, transportation equipment, appliances, furniture, construction products and vehicles. The final U.S. paint industry market segment is architectural coatings, which is the primary focus of this marketing case. Architectural coatings otherwise known as “shelf goods” make of the largest portion of market share at forty-three (43) percent...
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...Marketing Essays - Red Bull Table of Contents Introduction Red Bull has created a strong brand image, using colourful icon with two bulls in opposition and a memorable tag line; ‘Red Bull gives you wings’. Through creative marketing and sponsorship it has linked itself with extreme sports, innovative music and art, all aimed squarely at the youth market (Dahlen, Lange and Smith, 2010). This brief examines brand development, which strategies have helped it to success and where the brand goes from here as it faces the prospect of losing its cuttingedge image while continuing largely with only one product. Red Bull is a European success story. The product was launched in 1987 in Austria. It faced opposition from the Food and Drink Administration (FDA), who refused to clear it for distribution but despite this it became an underground success through clubbers and snowboarders. This anti-establishment stance found synergy with consumers, even after it was cleared for sale. It quickly spread into neighbouring countries and into the US market (Franzen and Moriarty, 2009). Dahlen, Lange and Smith (2010) note that by 2004, it had gained 40% share of its market sector and 70% in Europe. However, the brand still faced problems; it was banned in Denmark and France following unsubstantiated rumours that people had died from drinking the product in Sweden and Ireland (Mail Online, 2001). The European market was stagnating, and it faced distribution problems from companies...
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...03 November 2013 Communication Theories In the article “Using Communication Theory for Health: Practical Guidance on Message Design and Strategy”, Dr. Timothy Edgar and Dr. Julie Volkman discuss three communication theories and how they have been used to effect change in public awareness of health issues. While the article discusses the use of communication theory in changing public health behaviors, these three theories can be directly applied in marketing strategies of for-profit companies. The first theory presented was Activation Model. This model states that audiences will seek to satisfy their need for stimulation and information when attending to a message, before they seek to fulfill their need for information alone. The article states that this method is best suited for targeting audiences that are high sensation seekers, usually a younger high school and college age demographic. From a managerial perspective this means that in order to deliver a message effectively to this target audience, the advertisement must contain some form of high impact stimulus. This stimulus could be in the form of loud music, action adventure video, or pulsating text or light. An example of this sort of ad campaign is the Slim Jim jerky ad with former wrestler Randy “Macho Man” Savage violently interrupting an apparently boring rehearsal of a high school play and shouting “Are you bored!” The ad starts off slow and doesn’t’ grab the intended audience’s attention until Macho Man explodes...
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...B2B Marketing Clariant Corporation Marketing Case study Analysis Professor Robert Cronin Valeriya Dyachenko 20.03.2015 Problem: The purpose of this case study analysis in to find the alternative solutions and the most suitable recommendation for Swiss – based Chemecal producer Clariant International Limited. – CAN NOT WRITE THE PURPOSE OF THIS STUDY! Several problems that impacted sales grows objectives of chemical industry in general and underlying earnings of growth that indicated to be poor. Clariant Ltd is facing problems related to mature market conditions such as high market competitiveness, excessive supply of demanded chemical materials, and variability of alternative products at a low price. The main concern of the company is how Clarient Ltd can fully develop its potential for meeting its sales and profits grows objectives. Company structural organization needs to be changed and improved in order to maximize its productivity and raise the profits of the company. Incentive program has been established, however the company structure as it is requires certain alterations to the incentive program for the sales team. Several competitors have established themselves at the market though positioning and marketing. Therefore Clarient is at the edge to decide whether the positioning will improve its competitiveness at the market. Clarient is working with a key account that is aimed to simplify purchasing operations willing to consolidate the procurement...
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...the CruiserThorr. The current lifestyle image the CruiserThorr portrays, speaks to the more mature and settled consumer. These aging bases of customers who have the purchasing power are no longer buying new motorcycles and equipment. On the other hand, the younger generations of cyclist are not attracted to this brand, as they simply cannot afford to buy it. It is the task of the marketing team to resolve this issue by putting together a strategic plan that will allow Thorr Motorcycles, Inc. to maintain its reputation as a quality and reliable brand of transportation. The experts (marketing team) will also determine whether the company will reposition the current CruiserThorr versus creating a new product that will appeal to a different market segment and capture an audience of potential buyers. Thorr Motorcycles, Inc.’s ultimate goal is to regain the market share and competitive advantage over competing brands. Steps to Take Thorr Motorcycles, Inc. will remain solvent in the industry once it positions itself to compete with its competitors. Staring and comparing the attributes of the CruiserThorr against that of other motorcycle manufacturers can accomplish this. There are various fundamental parameters relevant to the industry and mirror what is best for Thorr Motorcycles, Inc., for the purposes of this research we have to choose four of the most important. As the new marketing manager, I chose the following parameters to compare against other companies. Lifestyle Image...
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