Successfull marketing strategy analysis

Successfull foodstuffing outline outline grocery storeis the outgrowth by which companies de marginine how products or operate will be according of inte slumber to customers, and the strategy use to attach in gross sales, communications and task maturation.It is the process through which companies give rank for customers and build reinforcedcustomer relationshipsin ball club to capture and get true(p) and positively charged feed ass from customers in return.Marketing Planning ProcessThe planning process for the marketplace green goddess be described as shown in the figure down the stairsFor an organisation the manoeuvre should be specific objective lens, the neutral concern as profitability, markets harvest-feast, efficiency, financial resources, organizational structure, and social responsibility.2) Situational AnalysisBefore developing a marketing strategy for a comp whatever this is substantial to conduct almost analysis. This is form of essential par t of all telephone circuit or preparing marketing plan and should be reviewed everyplace time to go steady that it is according to accredited situation. The following shag be use to assess situational analysis for a phoner.The elements worth considering include crossway SituationWhat is current product? We pretense break this definition up into parts much(prenominal) as the midpoint product and any secondary or supporting services or products that also make up whats being sold. It is important to observe which contrastive parts in order to be able to relate this back to client require.Competitive situationTo analyse the competitors what their situation and compare the make/ benefit analysis. What are their competitive advantages?Distribution SituationIts about to go over the come with distribution Situation how the product getting to market? Is it contingent to get their through distributors or other intermediaries?Environmental factorsWhich external and home(a) su rroundal factors should be taken into account. This can include economic or sociological factors that impact on the familiaritys performance.3) SWOT analysisSWOT analysis is a strategical planning method used in to a business to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project. Also specifying the objective of the business venture and delineateing the internal and external factors that are in the spare and those which are not in favour to extend to that objective.4) Assumption doWhile preparing a strategy in a business conjecture are genuinely important and need to be focus on that. Its mean we made many assumption while taking any decision. Furthermore to attempt the predict future outcomes from the external and internal things. snugly of the assumptions that made when a business plane and process are made, very belike to come true. Assumption-based planning identifies and tests the assumptions made in a business plan, the formulation of hedging actions and the construction of what-if scenarios.5) Marketing ObjectivesThese objects should be as followssemipermanent Brand Value pertly Product/ Innovation and service pull ahead Product DefinitionGrowth in market share6) portent results of strategiesComparison strategies for magnetic coreivenessComparing promotes maturement, judgment emergence, and higher level thinking. slightly company didnt compare like-for-like products forever.Some company battle between their products.A comparison strategy is theprocess of identifying how things are alike and distinguishable.Marketing meldWhen marketing their products firms need to create a successful careen integrity of the adjust product ,sold at the right price, in the right place ,and of play using the most suitable promotion. In order to achieve its coating ,the company has to implement the main four Ps of the marketing mix .mmixProduct StrategyProduct strategy is any decision that helps the company continue to develop refreshed products around its signature ,it is very important for a company to implement its plans in a better musical mode by Defining the characteristics of a product or service to fancy the customers inescapably. Ducati failed to maximize sales of its all- recent behemothDucatihas added the 804cc engine to the range.The thinking goes that the colossus 1100 is excessively big, the Monster 696 is too small, but, hopefully, theDucati Monster 796will be, like a drum roll of warm porridge, just right. That engine gets pulled out of the Ducati Hypermotard 796 and shares that bikes 87bhp, 58lb/ft and wet carpet slipper clutch. Combined with a low dry weight of 167kg .(369lbs) and the bikes friendly, flat-barred riding position, those bare-ass figures could make the Monster 796 the perfect first big bike for target market riders.Pricing strategyIdentifying the total cost to the user (which is likely to be higher than the charge you make) is a part of the price elemen t. Monster 796 the urban Icon, as the name suggests is a luxury item launched by Ducati for those who look for betray and status symbol, price hardly matters for them. As per our target market the professional and sports mountain are going to buy it so following the porters specialisation strategy the pricing strategy will be agiotage. The Monster 796 will be available in the UK from May 2010 in the lead and will be priced at 6,995, with the ABS version at 7,695 because our customers look for grapheme not price.Promotion StrategyThis includes advertisement, personal make outing like be exhibitions, and sales promotions like special offers, and also atmospherics such as creating the right impression through the working environment. Public Relations is include within Promotion by many marketing people.Promotion strategy for DucatiAdvertisingThe advertising campaign will be focused on the two target markets identified in the target market section, (Males and females).The prop ose of the advertising campaign is to increase sign awareness of the Monster 796 the Urban Icon. The sources of advertising are TV, Internet, Magazines, sport websites and the advertisement will show the new looks, features and the style of Monster bike.Sales PromotionDucati will use sales promotion to increase brand awareness, market share and revenue. The use of auspicate of Sales Displays will be used with a gift coupon for the purchase of Ducati 796. Although, the use of Point of Sales Displays produces a short-term effect in revenue and market share, the brand awareness will prepare a long-term effect. The use of this sales promotion along with the rest of the marketing strategy will produce a long term increase in both revenue and market share.Direct communicationsDirect communications will be used to bar brand awareness, as well as increase brand awareness and market share. A survey will be sent out as a focus mailing to Ducatis target markets. The survey will measure br and awareness of insect repellents, likes and dislikes between Ducati and its competitors, and the outdoor activities of the survey taker. habitation Strategy.Looking at location and where a service is delivered, in other words, Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any carnal store as well as virtual stores on the Internet.Ducati has unattackable relationship with its all heads throughout the UK. The dealers are contributing a hoi polloi to the overall performance of the company. The company is recognising their efforts with the rewards to improve it distribution strategy. Ducati dealers from all over the UK gathered for the annual Ducati dealer meeting during the recent London cycle Show at Excel. The dealers were presented with an overview of 2009 and the plans and strategies for 2010 which should prove to be exciting times for the Ducati dealer network with the launch of the eagerl y awaited Multistate and other innovative bikes such as the Monster ABS models.ANSOFFS MatrixThe Ansoff Growth matrix is a shit that helps businesses decides their product and market appendage strategy.. It is used by marketers who move over objectives for growth. Ansoffs matrix offers strategic choices to achieve the objectives. (Johnson, G. et. al., 2002)Market PenetrationIs one of the four growth strategies of theProduct-Market Growth Matrix delimit byAnsoff. Market penetration occurs when a company enters/penetrates a market with current products. The best way to achieve this is by gaining competitors customers (part of their market share). Other shipway include attracting non-users of your product or convincing current clients to use more of your product/service (by advertising etc). Ansoff developed theProduct-Market Growth Matrixto help firms recognize if there was any advantage of entering a market.Market phylogenyMarket development is the name given to a growth strate gy where the business testks to sell its live products into new markets.There are many possible ways of set abouting this strategy, including New geographical markets for ensample exporting the product to a new country New product dimensions or packaging for example New distribution channels Different pricing policies to attract different customers or create new market discussion sectionProduct DevelopmentCompanies develop new products in existing markets. This is calledproduct development.An organization that already has a market for its products might try and follow a strategy of developing additional products, aimed at its current market.DiversificationThe two head teacher objectives of diversification areImproving core process execution, and/orEnhancing a business units structural position.The fundamental role of diversification is for corporate managers to create shelter for stockholders in ways stockholders cannot do better for themselves1. The additional value is create d through synergetic integration of a new business into the existing one thereby increasing itscompetitive advantageImplementing the Ansoffs matrix growth strategies on Ducati CompanyMarket PenetrationThe company has to get some more market share buy promoting and selling its new Monster bike, especially in the UK market where its sale decreased by 18% last year. The company has a good brand name so it is easy for them to eat up the competitor market share if they can provide some more customer benefit.Product DevelopmentAs far as the new target market is concerned the company has a great opportunity to expand its market share with the open of Ducati Monster 796 and to produce the similar and more modified models in near future which includes female bikes as well.Market DevelopmentThe UK sport market is very large and Ducati is not having the enough market share as compare to its competitors, so the company has to broaden its market in UK. Ducati has to increase the range of dealer s and to make sure that every corner of the country is cover by the company.DiversificationBringing the new vehicles like monster 796 is the good choice for the company in order to meet the customers new and requirements and expectations and the company has to focus on the green technology products soon in order to strengthen its reputation in market and to bring a change in company style.New Marketing Strategies (strategic preferences)1-Porters Generic strategy (Differentiation Strategy) concord to Michael Porter, the generic strategy is to be unique in the industry along some dimensions that are widely valued by buyers. It is rewarded for its uniqueness with a subvention price. A firm that can achieve and sustain differentiation will be an above-average performer in its industry if its price premium exceeds the extra be incurred in being unique. (Porter M, 1985)Ducati main target is people who look for quality instead of price the company adds something more to their products a s compared to the competitors. Differentiation strategy will help company to achieve its premium price and to meet the needs of the target customers.Michael Porter has classically defined quintet forces that drive industry competition, and has described a valuable approach to assessing the overall competitive dynamics of an industry. This approach has come to be know as a five-force analysis. (Colley.J et al, 2007)Managing change( Kotter,1998) ,According to change care guru John Kotter, few than 15 of the 100 or more companies studied have successfully transformed themselves. While the particulars of every fictional character vary, Kotter has identified eight overcritical layers of successful change management. Mismanaging any one of these steps can subvert an otherwise well-conceived vision.PESTEL ANALYSIS Macro environmentMacro is remote environment of a company comprising economic, social, political, technological and ecological. One way of looking at remote environment is PESTEL framework.http//www.businessmate.org/images/PESTEL.jpgSwot analysisSWOTanalysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues.SWOTstands for strengths, weaknesses, opportunities, and little terrors.Strengths and weaknesses are internalfactors. Opportunities and threats areexternalfactors.In SWOT, strengths and weaknesses areinternalfactors. For exampleStrengthcould beYour specialist marketing expertise.A new, innovative product or service.Location of your business.Quality processes and procedures. any other aspect of your business that adds value to your product or service.Aweaknesscould beLack of marketing expertise.Undifferentiated products or services (i.e. in relation to your competitors).Location of your business.Poor quality goods or services. shamed reputation.InSWOT, opportunities and threats areexternalfactors. For example Anopportunitycould beA developing market such as the Internet.Mergers, joint ventures or strategic alliances.Moving into new market segments that offer improved profits.A new international market.A market vacated by an ineffective competitor.Athreatcould beA new competitor in your home market. cost wars with competitors.A competitor has a new, innovative product or service.Competitors have superior access to channels of distribution.Taxation is introduced on your product or service.Implementing SWOT analysis on Ducati companyThe following SWOT analysis will provide insights into Ducatis internal strengths and weaknesses at the end of the turnaround as well as the opportunities and threats posed by the external environment in which the company operates.StrengthsTechnical ExcellenceEfficient Value Chain ensure qualityStrong BrandLocation AdvantagesEffective management strategical AlliancesWeaknessesNarrow Target AudiencePolarized salesLow economies of scale fragile Dealer NetworkLimited Growth since yr. 2000OpportunitiesFast growing seg mentCustomers of Japanese motorcycles have low brand loyaltyReduction in international trade barriersThreatsLow price of competitorsCompetitors enjoy lower costsCompetitors have high economies of scale and low cost of capitalThese strategies can be adopted for the best marketingBranding strategyNew product develops plc strategyMarket segmentation positioning strategiesSustained marketing strategies with ethics and social responsibilityCompetitive strategies for marketingRelationship management strategiesInternational marketingSome of the strategies explained below with example.BrandingCompany brand is not what thinks of the company, its about what the customer thinks it is. And in an industry where the patent acquittance clock is constantly ticking, its vital to make a lasting impression, and quickly, Patricia Malone offers five steps to creating a brand.ExampleIn the pharmaceutical world, when one considers the broad pressure from reimbursement sources on providers to prescribe generics rather than brand-name products, the importance of branding antecedent to patent expiration is clear. Beyond that, the entire branding process has value for a company because it helps the business focus on, enhance and be reconciled with its message. In addition, it enables a company to continually test the message and see if its being vie back the right way. findarticles.com/p/articles/mi_qa5351/is_200405/ai_n21348846/Market division strategyTo compete successfully in todays volatile and competitive business markets, mass marketing is no longer a viable option for most companies. Marketers must attack niche markets that exhibit unique needs wants. Market segmentation is the process of partitioning markets into groups of potential customers with similar needs or characteristics who are likely to exhibit similar purchase behaviour.http//www.s-m-a-r-t.com/Exp_marketseg.htmProduct Development StrategyEffective project planning is critical to implementing new product devel opment strategies. In some cases new product development strategy initiation includes original research but in this case research actually resulted in the formulation of the new product conceptExampleGround breaking research undertaken at Victoria University (VU) showed that children wake up to smoke alarms with familiar voices much more easily than they do with traditional smoke alarms that beep. VU Researcher Dorothy Bruck said One hundred part of children tested have woken to the mothers voice message- played at 1am in the morning. This compares to and 57 percent wakening to the current smoke alarm signal, played at the same time of night and at the same volume. This desktop breaking new product development research set the stage for KidSmarts intellectual property suite and drove our new product development strategies. From the start, we mapped out our performance requirements, usability strategies and product cost targets. It was also critical beforehand(predicate) on in t he new product development process to identify component suppliers and production strategies for all major components including the actual smoke sensor. bresslergroup.com/process/speed_planning.asp