Académique Documents
Professionnel Documents
Culture Documents
Composition:
Total fat
Cholesterol
Sodium
Carbohydrate
Dietary fiber
Vitamin A
Vitamin C
Calcium
Iron
32%
2%
2%
7%
9%
2%
2%
8%
4%
After the most attractive segments are selected, a company should not directly
start targeting all these segments. The attractiveness of the segments is also
depending on other important factors. In the main activity of defining a target
market, four sub activities are given which are the bases for deciding on which
segments will actually be targeted.
The first three sub activities are described at the topic competitor analysis.
The last sub activity of deciding on the actual target market is an analysis of the
information made available when comparing the companies abilities to the
competitors.
This analysis leads to a list of segments which are most attractive to target
and have a good chance of leading to a profitable market share.
Obviously, targeting can only be done when segments are predefined; there
have to be segments to analyze the competitors which are in this market. When
the process of targeting is ended, the markets to target are selected, but the way to
use marketing in these markets is not yet defined. To decide on the actual
marketing strategy, knowledge of the differential advantages of each segment is
needed. When positioning a product, the segments are first analyzed, this process
is described next.
PRODUCT
POSITION
TARGET
MARKET
PROMOTION
PRICE
The firm attempts to generate a positive response in the target market by blending
these four marketing mix variables in an optimal manner.
Now, lets see the marketing mix for new launch of AMULS CHOCO CRUNH i.e.,
their products, price, place and promotion.
AMUL
CADBURY
(Rs.)
(Rs.)
80
100
Crunch (pack of
20pcs)
By comparing the prices of the products of Amul and cadbury, we can see that the
prices offered by Cadbury are on the higher side as compared to Amul. Thus we can
see that cadburys target customers are professionals, working couples and families in
the sec- a and sec-b categories that detest the loud ambience of Amul and who are
willing to pay higher prices.
Whereas Amuls typical customers are between the age of 07-50 years, which shows
that these include childrens, youngsters and also aged peoples or are from the upper
middle class or middle class families, who can afford these prices and looking at these
target customers the company has designed its outlet to look young and trendy with
vibrant colors such as brownie, black current(purple) and Butter scotch predominating
the outlets.
A successful product or service means nothing unless the benefit of such a service can
be communicated clearly to the target market. An organisations promotional strategy
can consist of:
Advertising: Is any non personal paid form of communication using any form of
mass media?
Sales promotion: Commonly used to obtain an increase in sales short term. Could
involve using money off coupons or special offers.
Promotion Budget
COST SHEET
**
SCHEDULE A
PARTICULARS
Mascot (Mooh)
Television Advertisements
Radio Jingles
Banners and Hoardings
Print Advertisements
(Newspapers)
Print
Advertisements(Magazines)
World Cup Promotional Activity
Payment to brand ambassador
Rate
100/day
Total Cost
10,000
90,000
6,045.45
58,000
60,000
45,500
-Nil
3,50,000
ADVERTISING:-
An Amul butter ad on Pakistan's Kargil War fiasco. The image shows the "Amul baby"
in between George Fernandes and Vajpayee.
Its advertising has also started using tongue-in-cheek sketches starring the Amul baby
commenting jovially on the latest news or current events. The pun in her words has
been popular.
The Amul ads are one of the longest running ads based on a theme, now vying for the
Guinness records for being the longest running ad campaign ever. Sylvester daCunha,
was the managing director of the advertising agency, ASP, that created the campaign
in 1967 whose charm has endured fickle public opinion, gimmickry and all else.
BANNERS:-
Cost
When the list of target markets is made, a company might want to start on deciding on
a good marketing of a product. But an important step before developing the marketing
mix is deciding on how to create an identity or image of the product in the mind of the
customer. Every segment is different from the others, so different customers with
different ideas of what they expect from the product.
REPURCHASE
TRIAL
PREFERENCE
LIKING
KNOWLEDGE
AWARENESS
5% of Trial
10% of
Preference
Preference
20% of
Liking
40% of
Knowledge
60% of
Awareness
80% of
Targeted
Population
Market research is discovering what people want, need, or believe. It can also involve
discovering how they act. Once that research is complete it can be used to determine
how to market your specific product. Whenever possible, try to reduce risks at the
earliest possible stage. For example you could carry out market research early on and
not wait until you are almost ready to enter the market. If early market research
reveals that your business idea has real potential, you can use this information in
planning the build-up of your business. [Ilar 1998]
For starting up a business there are a few things should be found out through market
research in order to know if your business is feasible. These are things like:
Market Information
Market information is making known the prices of the different commodities in the
market, the supply and the demand. Information about the markets can be obtained in
several different varieties and formats. The most basic form of market information is
the best quotation and last sale data, including the number of shares, with respect to a
particular security at a given time. [Market research 2006]
Competition will never end so let's not avoid it but face it confidently,
"For a chief executive, unless he knows where he is going no one can take him
there".
What's the use of Marketing & Advertising if it does not reach the right people and
yield desired results? Therefore it is necessary for every individual who has
something to sell but no one to buy, to detect the problem areas and try to solve
them. But for this, knowing the right problem is extremely essential otherwise
hitting the target in dark means nothing.
Therefore, it is rightly said that a "well defined problem is half done". Once you
know your drawbacks only then you can correct it. Therefore, to know your
drawbacks you need to conduct a survey and get information right from the
ultimate users of your product. They should be asked to bring out your drawbacks.
This will help you to not only know your pitfalls but also what your customers
want and their likes and dislikes and while doing so build a good rapport with
your customers. While conducting such surveys you can also advertise your products
among those customers who are not much aware of it.
"There are three ways of doing a thing- the wrong way, the right way and our
way"
whichever may be your way the ultimate aim is to achieve the results and
implement them to maximize customer satisfaction we all know competition is
intense then why not take it positively so that it helps us to improve our product
quality, makes customers loyal to us, helps us know our shortcomings and
rectify them. The best way to overcome your competitors is to give your customers
what they expect or probably more than that.