...leading to different kinds of health complications. In the past, several manufacturers had introduced various weight loss products like over-the-counter (OTC) drugs, herbal products, supplementary fad diets, etc. All of these have proven to be unsuccessful because of their ineffectiveness, severe side effects and lack of credibility among consumers. At this juncture, Barbara Printup, the Senior Marketing Director of Cambridge Sciences Pharmaceuticals (CSP) wants to introduce CSP’s newest revolutionary prescription drug, Metabical. It is the only FDA approved prescription drug for overweight people, which has minimal side effects and long term benefits. PURCHASING DECISION MAKING PROCESS (Q1) The communication strategy of Metabical targets both the health care provider and the consumer. Depending on the initiators there are two different purchase decision processes in the purchase of Metabical for the overweight problem. 1. For Customer: a. Problem identification: The various health awareness programs, BMI table etc help a health conscious or beauty conscious individual to identify the overweight problem. b. Information search: Once the problem is identified the individual decides on the course of action. He/She may decide to either ignore the problem or work on it. Metabical is interested in the group of individuals who are ready to take action and reduce weight. These individuals are prospective consumers; they look out for ways to reduce weight. The advertisements...
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...Introduction It would be important to make a stress on the fact that retailing niche in the market is expanding very quickly, seeking for the new markets as across the country, as well as taking into consideration the global situation and the competition between the key players, such as Nordstrom Inc has to compete for the more effective position is really severe. Thus the strategies the companies used are very important and this research objective is to reveal successful strategies in the global consumer goods industry market on the example of the quite important competitor in this market – Nordstrom Inc, the owner of high class department stores chain in the USA, examining its way to success, the industry it is competing, and the reasons of the effective and fail solutions, that occurred in the particular regions as well as company’s strongest and weakest parts. Hence it would be important to note that retailing corporations and Nordstrom Inc, in particular have captured a number of markets and nowadays their marketing, organizational and developmental strategies could be referred to as one of the most effective ever used. The deep understanding of the market niche and target group in different areas, added to the effectiveness of Nordstrom Inc strategies, despite the number of negative factors, oppressive competition and certain fails in particular regions. Among the objectives of the research investigating any ability of cross country infrastructure the company’s suppliers...
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...success. That is, it markets the same basic products in all of its stores; instead of tailoring furniture to regional tastes, it focuses on making furniture that is universally attractive (Rondcha, 2008). Some 90% of the product line is identical across more than two dozen countries. However, in order to adapt to certain countries such as America, IKEA needed to modify their concept whilst still maintaining their original formula. Modification was implemented as the European products conflicted with American tastes and preference (Tracy, 1986). Conflicts arose when it was found that most Americans keep a sofa longer than a car and change their spouse as often as their dining room table (about 1.5 times in a lifetime). America didn’t get IKEA; it was too unswervingly Swedish. (Lewis, 2005). Kamprad believes the word ‘impossible’ is absent from IKEA’s dictionary (Altomare, et al. 1999) and by sticking to this belief, adaption was made to America’s furniture. This included widening the chest drawers by an inch or two which led to an immediate increase in sales by 40%. Despite Kamprad’s belief, it is impossible that IKEA will succeed everywhere it establishes. In 1974, IKEA expanded into Japan as their first Asian market. It had to pull out in 1986 due to differences between culture, lifestyle and behaviour being too great. Another factor was IKEA putting a Swedish ‘accent’ on another country’s way of living proved not to be well received in the Japanese market. IKEA encountered failure...
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...Product Suitability Advance Biomedical Devices, Inc. (ABD) products are in a state of readiness to begin exporting to Europe because the Continent provides countries with similar market characterisitics and requirements to its home market, the United States. The products are also ready for exporting to emerging markets such as Brazil, Russia, India, and China (BRIC) among others due to the rapidly progressive living standards and an expanding middle class with rising economic potentials in these countries. ABD’s Speedheal branded products have strong possibilities of advantageous demand in all types of foreign countries due to the following reasons: - It’s Speedheal products produce exceptional sales performance in the domestic market of the United States. - The products address universal health needs through the promotion of healing and the reduction of postsurgical pain by keeping the wound area from swelling. - The products are unique and cater to current and evolving health needs not well served internationally. - The devices are relatively small and portable and thus miniaturization remains one of ABD’s competitive advantages. - The product prices are relatively affordable and inexpensive to ship based on the miniature sizes. - ABD’s products were seldom defective and replacement of defective ones was a solution instituted by the company that augured well for good international business practice in after-sales service. - Speedheal devices are sensitive to changes...
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...3. TARGET MARKET DESCRIPTION Intergrated Resort World (RWS) is Singapore’s biggest site location of 49-hectare with high visitorship. According to the Ministry and Industry (MTI), about S$3.7 billion in a value-added came from tourists travelled specifically for the two IRs in Singapore (EnterpriseOne, 2011). Summary findings abstracted from World Outlook Report (2006-2011), also shown that impulse ice cream1 demand have been increasing and Asia & Ocean is the largest market with $12billion, 33.9% of the world market. Figure 1. Worldwide Market Potential Impulse Ice Cream, World Outlook Report (2006-2011) An abstract from ReportLinker (2010), concluded that there is an increase sophistication of consumer demand in Singapore, many people traded up to more expensive premium brands of ice cream in 2010. The following table has also shown an increase in impulse Ice Cream in Singapore from 0.86% in 2001 to 0.89% in 2011. This illustrates that with effective marketing, superior product and proper management we will reach and exceed our projected sales goals. Figure 2. Worldwide Market Potential Impulse Ice Cream, Singapore, World Outlook Report (2006-2011) Target Market Segmentation Gelatissimo products are often featured in Female lifestyle magazines such as Cleo, Simply Her and Shape. The target market includes females age 18 to 24 years old who socialize. Children are also a big part of our market, at one third of the population in this location. Ages 4 to 19 prefer...
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...Tutorial Exercise Five: Segmentation and Target Markets DUE DATE: in Tutorial #6, Week 8 Name: ___Kristina Koffman______ Student ID: _300333972_______ Assignment Product Category: ______Ice cream____ Brand /Company: ___Tip Top______ 1. Using appropriate segmentation bases e.g. demographics, geographic, lifestyle, ethnicity, values, opinions and interests (and any others you may wish to use) describe the current target market(s) of your company; (2%) Target market: families/children Describe the (or one major) current target market of your company/brand /product on the bases of these segmentation tools | Company: Tip Top | Brand/ Product: | Demographics | Age: Tip Top’s target market is mainly children. This can be seen by how they designed their layout design for each product. Most of their product is very colorful and action packed, which appeals to most children. They also priced their products where even a young children could even spare the expense.Income: Tip Top’s broaden themselves by targeting families of all incomes with its reasonable prices. An average family in New Zealand in 2014 is earning apromixately $80,000 a year, which means ice cream loving families can afford a sweet treat once in awhile such as the brand Tip Top.According to a post on Dominin Post, it confirms that ice cream accounts for $1 of every $44 spent on food within New Zealand households. | Geographic | -Tip top is based in New zealand, where it is known thatNew...
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...We found four common consumer market segment :geographic, demographic, psychographic and behavioral segmentation. demographics, the Swatch customers in china are mainly young and "young in heart". in some chine's families the swatch is the first watch to child because the child in that age is still learning how to read the watch . Anyhow, the product range doesn't exclude middle-aged or even senior target groups. Psychographic segment might be the most challenging, but without doubt Swatch fits for customers that value quality, simplicity, practicality and durability. Swatch is focus to china people who interesting on sport and adventure . the behavioral segment is based on price sensitivity and customer loyalty. Swatch watches are offer good value for money. The customers appreciate the possibility to purchase the favorite watch in several colors matching with every outfit. For younger customer, Swatch could be the only brand, but older customers might appreciate also other brands for different occasions. * growth potential: It forecast long-term growth of five to ten per cent per year in the chine watch industry. * Targeting market: With the above Market Segmentation we identify that Swatch can target market any one between the age of 15- 34 that prefer creative, fashionable and innovative timepiece accessory with an active lifestyle * Market Positioning: With Above market and target position Swatch should market its position for the Youth age...
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...Table of Content 1. Executive Summary…………………………………………………………………………P.1 2. The Challenge………………………………………………………………………………..P.2 3. Situation Analysis……………………………………………………………………………P.3 3.1 PEST Analysis……………………………………………………………………………P.4 3.2 SWOT……………………………………………………………………………………..P.5 4. Market segmentation………………………………………………………………………P.6 5. Market Positioning………………………………………………………………………….P.8 6. Alternative Marketing Strategy…………………………………………………………….P.9 7. Product……………………………………………………………………………………P.10 8. Price…………………………………………………………………………………………P.10 9. Place (Distribution)………………………………………………………………………P.11 10. Promotion………………………………………………………………………………P.11 11. Short & Long Term Projections……………………………………………………….P.18 12. Conclusion……………………………………………………………………………….P.19 13. References……………………………………………………………………………….P.20 1. Executive Summary Improve brand awareness of Lee Jeans to Hong Kong young adults with a digital marketing plan that sustains to half year is the target of this project. Digital media is the best way to promote Lee Jeans products to our target customers, not only the result is measurable for evaluation to improve the marketing strategy in the future, but also the budget is controllable and not so costly as traditional medias. There are 2 stages of marketing events: Phrase 1: build up new customers database thru a photo taking competition for collecting primary and secondary data. Phrase 2: customer engagement thru Facebook platform, invite the...
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...cheapest source (in terms of R/kg) of meat in South Africa, however, since 2013 chicken meat prices in South Africa increased by 13 percent and in the past year by more than eight percent, as increased import tariffs of chicken meat, coupled with anti-dumping duties, escalated local prices. KFC is known to be a favorite of meat lovers it specializes in fried chicken, and this segmentation is the main success factor of KFC. KFC’s key objectives include: * To increase their market share in the fast food industry * To improve annual profit margin in order to maintain company growth * To increase shareholders dividends and franchise KFC’s strategies KFC’s main success strategy lies in their super secret blends of eleven herbs and spices that are used to differentiate their chicken from other organization offering similar services. In addition, their marketing and advertising strategy that portrays the product as an ultra-unique, one-of-a-kind thing, with no exact equal in the entire world to a target audience gives them competitive advantage over others. Other key success factors of KFC include: Cleanliness, Hospitality, Accuracy, Maintenance, Product Quality, and Speed with service. The marketing mix of KFC discusses the strength of KFC through its 4P’s: Product: KFC main product is fried chicken but it also has varieties of other products such as; Chicken Delight: Fiery Grilled, chicken wings Bucket Chicken Snacks: Popcorn Chicken, Hit Wings, Boneless chicken...
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...marketing programs that target the mass market. The paper compares mass marketing and its ability to reach today’s consumers. This examination of mass marketing shows its weakness in the market and its approach to becoming nonexistent. IS MASS MARKETING DEAD? 3 Is "Mass Marketing" Dead? The best approach todetermine the future of mass marketing is to take a look at its conception.The industrial revolution paved the way for the concept of mass marketing. Railroads were being built from coast to coast; providing transportation of both people and product.The telegraph was there to satisfy the need for faster communication.A country that relied on local markets was rapidly growing; cities were being populated and the demand to supply basic needs was greater than any time prior.Savvy entrepreneurs were able to seize this opportunity to make their brand known by mass producing their product and advertising.Mass marketing is a single market plan with the same mix of product, price, andpromotion strategies for the entire market.Those that adapted to this strategy were untouchable in the market place. Henry Ford was well known for his contributions to mass production.His innovative approach to making a car with limited features drastically lowered the production cost and allowed it to be affordable to the consumer.Many entrepreneurs developed this technique and soon consumers from coast to coast became familiar with their brand.When this approach was partnered with radio...
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...associates. Pricing Strategy Victoria’s Secret implements a high-low or promotional pricing strategy. The brand sets a first price that is not outrageously high; however, it allows for plenty of room to allow for markdowns. Permanent markdowns are rare as there is generally only a small clearance area in each store. Instead, Victoria’s Secret utilizes many temporary markdowns through promotions like 5 for $25 panties and holiday sales. Customer Analysis Victoria’s Secret target customers are women between the ages of 18 and 49 who want to own fashionable undergarments and lingerie. 44 percent of Victoria’s Secret customers are between the ages of 18 and 34. The majority of Victoria’s Secret shoppers, 75 percent, are Caucasian, while only 5 percent are Asian and 8 percent are African American. Victoria’s Secret target market includes people who live in cities with malls and have access to the Victoria’s Secret stores. Recently however with Victoria’s Secret website, they have increased their target market to customers who live in small towns without...
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...Case Analysis Questions for Case 7-2 (pp. 222-223): Cosmetics Giants Segment the Global Cosmetics Market 1. What product lines do L’Oreal offer in its home market (France) and other developed markets (USA, UK, etc.)? How does L’Oreal segment and target in these established markets? (You need to visit L’Oreal website and conduct additional online research to find relevant information and answer this question.) France: • Makeup (tint/tone, lips, eyes, nails) • Facials (organized by type of care and skin type, age, brand, benefits) • Body care (beauty and body, sunscreen, sun care, brand) • Coloring (organized by color and brand) • Hair care (routine care, hair type, brand) • Styling (organized by benefits, brand and studio line) • Men’s products (care/cleaner, shave, styling, deodorant, shampoo/hair care, brand, hair color) • Makeup and hair accessories. USA: • Makeup (eyes, face, lips, nails, etc) • Hair • Skin care (moisturizers, treatments, cleansers and makeup removers, sun care, self tanner) • Hair color • Hair styling • Hair care UK: • Skin care (product type and brand) • Makeup (face, eye, lip, nails, brands) • Hair color (color, permanence, brand) • Hair care (hair type, product type, brand) • Hair Styling (desired effect, product type, brand) • Self tan (tanning type, product type, brand) • Gifts • Men (face, deodorant, hair, product type...
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... re-intermediation or can it do both? 2) Can an intermediary serving two customers avoid alienating one of the groups as it searches for ways to grow? If not, why? If so, how? 3) What is the value proposition for each of Autobytel’s customers? 4) What is the basis of Autobytel’s market leadership? Is it sustainable? Why or why not? 5) Where do you think this market is ultimately heading? Is Autobytel missing the boat? 6) What should Autobytel do? CardSwap 1) What is the value of gift cards to retailers? 2) What is the value of gift cards to consumers? Is the Consumers’ Association of Canada correct in saying there is no value to the consumer? 3) Would you use a service like CardSwap? Why/Why not? 4) What is the size of the market that CardSwap is focusing on? 5) What is CardSwap’s sustainable competitive advantage? 6) What is the value of a customer to CardSwap? How much should Poptia be willing to pay to recruit a customer? 7) What should Poptia do to generate customers? Cialis 1) What are the most relevant dimensions along which to segment the patient market for ED treatment? Of the segments identified, which would you target initially with Cialis? 2) What is Viagra’s positioning in the marketplace in 2002? How would you characterize the Viagra brand? 3) What would be the most effective way to position Cialis in the marketplace? 4) What marketing mix activities should accompany the launch of Cialis?...
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...segment an overall market and target only specific segments? Why not go after the total market? Seems like the "shotgun approach" would be better, right? Be sure to form your arguments using concepts from the textbook In deciding how to properly market a product a company must have a good understanding of the product and the customer who the company is hoping to target. With BMW you are looking at a high cost sporty motor vehicle so my first order of business would be to look at my target audience and Use a number of tools to be able to properly understand my target consumer. I would use psychographics to identify the type of person who buys a new BMW .Psychographics targets consumers based on lifestyle rather than just simple demographics and because of the type of product BMW is this would be a better as most people buy BMW not for A to B transportation but more as a lifestyle choice. You would then create a segmentation strategy using effective segmentation criteria. Although BMW is a well-known company it has a relative small market share as the majority of car buyers view it as a luxury brand. So BMW needs to be able to capture as much of that market share with competition from companies like Mercedes and Porsche. This small market share means they do not have an unlimited budget but must target a particular segment. The success of this approach was seen in the early 2000s when BMW began to use less traditional marketing and began Bmwfilms. BMW fans and the target demographic...
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...1. How would you define Zappos’ target market, and how would you describe its strategy to serve this market? - Zappos’ target market would be mainly online shoppers. Although previously they would only be targeting customers in search of footwear, they recently expanded their product line to apparel, accessories and even home goods therefore expanding their target market significantly. The Zappos’ customer is not usually price sensitive and usually has a higher disposable income. 2. Has Zappos’ emphasis on customer satisfaction contributed to its profitability? Explain. - Zappos’ emphasis on customer satisfaction has greatly contributed to the company’s profitability. “Zappos believes that great customer service experiences encourage customers to use the store again. In addition, Zappos’ long-term strategy is based on the idea that great customer service will help them expand into other categories. While 80 percent of Zappos’ orders come from shoes, the markets for housewares and apparel are much larger. The company says it will expand into any area that it is passionate about and that meet their customers’ needs (Pg. 454).” Furthermore, there is proof that the company’s emphasis on customer service and customer satisfaction has contributed to its profitability with over 75 percent of purchases being made by repeat customers. Zappos has established a way of treating customers that is different from any others in the industry. Zappos employees are encouraged...
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