Assignment 4
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Transcript of Assignment 4
Assessing Market Opportunities
and Customer Value
Robust scanning mechanism to spotProfitable market opportunities by
closely monitoring marketing environment.
Choosing Value
Divide the market into segments, evaluate each one, and target those
it can provide the best value .
Designing Value
Includes product quality, design,features etc.
For competitive advantage, provideServices such as leasing, delivery,
repair and training.
Delivering Value
Identify, recruit and link various marketing facilitators to supply
products and services efficiently.
Communicating Value
Adequately communicate to
the target market the value embodied by its
products andServices.
Sustaining Growth and ValueInitiate new product development,
testing and launching as part oflong term view.
Developing Marketing
Strategies and Plans
Identify potential long-run opportunities
given market experience and core
competencies.
Overview Minor League Baseball TeamSingle game tickets at $6 a piece.Target Markets Families Population in Springfield- 55,000Positioning Local, affordable entertainment for the whole family Distribution Tickets sold at box office and team website.
Objectives1.Illustrate the design, implementation, and interpretation of research surveys.
2. To use quantitative analysis methods to develop a "scaled" pricing strategy for a perishable service that reflects constant costs per production unit.
3. Understand the relationship between pricing and its impact on the sales of auxiliary products.
Marketing Plan1.Promote team through various events through out the summer.
2.Get community involvement before the start of the summer.
3.Events create unique and memorable experiences that other IMC tools can not.
MMBC
Strong Brand.
Top market position in premium segment in West Virginia.
Popular among blue collared working man.
Family owned independent image.
Situation Analysis1.
• High Brand equity in premium segment.
2. • Mostly sold at off premise location.
3. • 2% decline in revenue.
4.• 4% growth in light
beer segment due to youth preference.
How to capture Light Beer market segment.
Its effect on Brand Value and current product.
Investments and returns on the new product.
Objective
Option 1Introduce Light Beer by Mountain Man Brand name.
Advantages• Increase in revenue.• Low advertising costs.• Cater to a market growing at 4% CAGR.
Disadvantages• Product Cannibalization• Brand erosion.• May not be perceived well.
Option 2Introduce Light Beer by a different brand name.
Advantages
Disadvantages
• Expected increase in revenues.• Cater to the growing and untapped market.• No brand dilution, no product cannibalization.
• High advertising costs.• Can not leverage strong brand name.
Analysis• A complete analysis of all the data reveals that the product is expected to cover all its investment costs and become profitable by 2007.
• Launching Mountain Man can uplift the brand value.
• Mountain Man Light will help increase company’s market share.
Situation AnalysisOver the years, numerous brands have met untimely deaths. Some have steadily declined into oblivion while others have been revived.
Significant investments made to build the brand also lost.
New product introductions are both expensive and risky.
Objectives1. Examine how big companies have revived after facing Brand Decline.
2. Analyze conditions that may lead to brand decline and brand death.
3. Highlight signs that may suggest an impending decline.
4.Offer insights into assessing the viabilityof reviving a brand.
5.Suggest various approaches that can be used to strengthen the brand and give it a second life..
Beginning Revitalization Address the cause of decline.
Adjust this, and educate the market if necessary.
While positioning a brand,managers must ask the following
three questions in order to be successful.
Have we establisheda frame of reference?
•A frame of reference signals to the customers the goal they can achieve throughbusing the brand.• It may change as the product goes through its life cycle.
Are we leveraging ourpoints of parity?
•Think through the points of parity your
brand needs to have with competitors if it is to be accepted.• New brands – normally points of parity
are thought of new brands.• Established brands – over time points of differentiation becomes points of parity.
Are the points of difference compelling?
Three types of difference:• Brand performance – Does the product do what it says?
• Brand imagery –Who uses the brand and under what circumstances?
• Consumer insight associations – show you know the customer
Don’t
•Build awareness before position.•Talk about what customers don’t care about.• Invest in differences that are easily copied.•Focus too much on the competition.•Reposition unless absolutely needed.
Disclaimer
This presentation was madeBy Sakshi Babel, IIT Delhiduring an internship with
Professr Sameer Mathur,IIM Lucknow.
www.iiminternship.com