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designing a customer driving-strategy and mix for a new company in the market place. ...

designing a customer driving-strategy and mix for a new company in the market place.
this is a group work term paper for MKT-101 (Principles of Marketing) course.
to complete this work one should know more about Principles of Marketing and the markets , and also think as a marketer.

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Self e Self e Document Transcript

  • Page 1 self-e
  • Page 2  Submitted To Ms. Shahper Shams (Senior lecturer) Department of business administration East-West University  Submitted By Group Name: Next (New Experiment Team) Group Members: Members Name Members ID MD. Taibul Islam 2013-3-10-020 MD. NazmusSakib 2013-3-10-021 MD. AsadurRahman 2013-3-10-130
  • Page 3 INDEX Page Number Topic Name 1 Index 2 Abstract Introduction 3 Selecting target market segment 4 Choosing Targeting Strategy 5 Choosing the Right Competitive Advantages 6 Selecting an overall positioning strategy 7 Product or service classifications 8 Product and service decisions 9 Service characteristics 10 Services Variability: and Pricing 11 Pricing Strategy 12 Price adjustment strategies 13 Channel Level 14 Customers and business marketing channel 15 Exclusive Distribution, promotion and format 16 Conclusion
  • Page 4 Abstract We, the “self-e” brand, now provide “self publication tools” in Bangladesh for the self publishers. And we also like to provide them a huge platform to flow their creative works. So, our motto is “flow of creativity”. In this section, we try to discuss our brand‟s main and subsidiary product along with designing our customer-divine strategy and mix. Introduction The theory of self publication is started in 1971, in America. In that time this was new and did not acceptable by the readers. But in this modern world the user of internet is growing highly and the “e-book” readers are also increasing more. So, self publication is now passionate. The authors like to do it as their own way. All the works from the manuscript to editorial is done by the self publishers. For this reason, there have so many organizations to encourage the work and give the self publishers a platform to flow their work also. Now our developing country Bangladesh has its running view to get the word “digital” and move our country‟s economy as like a developed
  • Page 5 country. As a result, so many organizations raise their hand to make our country “Digital”.So, we want to start this self publication theory in our country. We like to provide all kind of “self publication tools” to our country‟s self publishers and also give them a suitable platform to flow their creative works. In that case our main product is “ISBN code” and a “Book cover” for those self publishers who cannot make it. There have so many authors who want to see their work in the “e-book” format. For them we think about our subsidiary product means “editorial & proof reading section” at a lower rate. Our readers can read their e-books from our platform and able to buy them also. And all this work obviously has done through internet. Selecting Target Market Segment After evaluating different segmentations, we found that „MICRO- MARKETING‟ will be the best targeting strategy because Our main product is providing the ISBN code at a lower cost to the self publisher. So our market segment goes with individual marketing. We also provide the interested author a platform to publish their creative works which is only available in Bangladesh. Now the market segment goes with local marketing.
  • Page 6 On the other hand, the platform that we are providing in that our target customers can get their lovely books what they want to read. IN that case we are in “DIFFERENTIATED MARKETING” Segment. Choosing Targeting Strategy Figure: Factors of Targeting Strategy Company Resources Product Variability Product’s Life cycle Competitor’s Marketing Strategy
  • Page 7 Choosing The Right Competitive Advantage Basically we are the first company to provide a service like ISBN code for self publisher. So we do not have any competitor in the market, but we do have some advantage to grow more consumers and the advantage we offer as below A website for books to be published ISBN Code at a cheaper rate Open entry in the website Free Cover Page Home Delivery Full Free on first submission No additional charge Available copies of E-books on the website User manual guide A Blog for personal writing Advantages That We Provide
  • Page 8 Selecting An Overall Positioning Strategy Figure: Possible Value Propositions More For Less: We provide more and opportunity along with their benefits to our customers. Like we are offering “Get Your Book Published on our Website”--------- more benefit and better publish at a lower price. To reach their higher attention and keep their smile we offer some attractive skims and free cover page for all kind of product that we have.
  • Page 9 Product Or Service Classifications Figure: Product Type Mostly we sell the costumer Unsought products because these product is not so much knowledgeable by the customers except self publishers. However our subsidiary products also have its own “Convenience” nature, as these are frequently purchase, little planning, little comparison etc.
  • Page 10 Product And Service Decisions Figure: Individual Product Decisions  Product Attributes: There is no doubt anyone about our product and its quality, as all these are the dictionary that full of creativity.  Branding: For selling our product we choose a brand name that is “self-e” and our motto is “flow of creativity”.  Packaging: Our cover page that is attached in the front of every book which is made by the self publishers or us is a great deal of the packaging.  Labeling: When a reader open the book they will find a copyright page which have contain the name of our brand and some words from us about the book is work as labeling.  Product Support Services: We have a survey to inter in the market place. From that we came to know that some self publisher do not know how to make a cover page of a book. So we provide the cover page for them. Product attributes Branding Packaging Labeling Product support services
  • Page 11 The author who like to write in computer and trying to publish their book also, we give them editorial & proof reading section at a lower cost than others. And our platform where readers can able to buy and sell books that is internet. Service Characteristics Figure: Four Service Characteristics Services Inseparability Variability Pershability Intangibility
  • Page 12 Services Variability Our services that we provide for our customers have its own variability. Our Services quality is more and better than others. We reduce the tension of self publishers who purchase our product and get our services. We provide them the ISBN code without any tension. On the other hand, another service for our authors and readers is the best service that we get in our previous survey. Pricing Value Based Pricing: Figure: Value Based Pricing Set target price to match customers perceived value Assess customer needs and value perceptions Determine costs that can be incurred Design product to deliver desired value at target price
  • Page 13  For The Main Product: At first when we think about our product we like to set the cost-based pricing. To get an ISBN code to publish only one book is too much. But when we think about our customers and their creative works that they complete with hard working we set value-based pricing for them.  For The Subsidiary Product: Al most all the online shop sells books to their customers in high price. To consider this situation we set a suitable price of all kind of books to our readers with a free home delivery. Pricing Strategy As our service is new in market, peoples still unaware about our service. That‟s why we will go for MARKET PENETRATION SRAGETY. We will sell each ISBN code at 500 BDT. We want to enter the market quickly and deeply. Because of this strategy our sale will goes up but at first our profit will less, but in the future when people will relay on us we will think about increasing price. We will slowly entre the market. Because of the low price we hope we will be able to attract a large number of buyers and a large market share.
  • Page 14 Price Adjustment Strategies At different situation we will offer various offers. Such as:  Discount: From the very first day of opening we will offer discount. And that is if anyone buys 5 ISBN code together he will get one free. And for them who have bought a code before from us he/she will get a discount of 5%.  Promotional Price: During special occasion we will offer various offers. During EID , PUJA, CHRIMAS, there will special discount for both new and old customers. Special party will be arranged and VIP persons will be invited.
  • Page 15 Channel Level Figure: Channel 01 As we are providing the tools of self publication, most importantly the ISBN code and we are the first company to give such an opportunity; so the customer needs to contact us directly. We do not have any intermediary levels because consumers communicate with us directly. So we are following Direct Marketing Channel which is also known as Channel 1. Producer Consumer
  • Page 16 Customers And Business Marketing Channel We are in vertical marketing system because we produce ISBN Code for self publisher. AS a Whole seller we fascinate our consumer with a website where they can buy or sell their books. We make cover page for those who cannot design their own book cover. On our website there is lots e-book available that might help our customer in different way. Figure: Vertical Marketing System self-e (producer) self-e (wholeseller) self-e (retailer) consumers
  • Page 17 Exclusive Distribution As a new company in the market firstly we would like to limited author to publish their book via our platform. We also provide ISBN code and other requirements of self-publication tools like cover page, additional benefit etc. to less costumer. So we can say we are exclusive distributer as we are providing limited numbers of tools to a limited or high profile consumers. Promotion Every product or service needs promotions. The main purpose behind various promotional activities is to make the consumers know about the product. Make them interested about the product or service. And if the consumer buys the product or uses the service, there lies the success. As it is a new service in Bangladesh, so many people still unaware about our service. So we will go for various ways of promotional activities. Message Format Because it is a new service we will try to serve as much information as possible. There are lots of media that we publish our product. We will operate our promotional activities through:
  • Page 18  TELEVISION: Television is the biggest way to for any kind of promotional activity. Almost every house of our country has a television set.And most them also operate their program in foreign countries. So, through these channels we also will be able to let the foreign people as well as those who lives abroad know about our service. At primary stage there will be a 10 seconds advertise. And after that just let the people remind about our service there will be a short add its duration will be 5 seconds. At first the ad will go regularly on 10 channels. After a week the short ad will go on 5 channels once a week.  RADIO: Now a day‟s radio is also a big field for promotional activity. Including non-government radio channels there are now 12 radio channels. At first week every radio channel will telecast our ad which duration is 5 seconds. And after one week our ad will telecast by top 5 radio stations twice in week.  PRINT MEDIA: Print media is also can be a big way form promotional activities. Now there are approximately 12 daily news papers and 4 online newspapers. At first week top 5 newspapers will print our AD. And from second week any 2 days newspapers will print our advertisement.
  • Page 19  SOCIAL NETWORK SITES: Social network sites have been a great way of promotions. Millions of people around the world are connected through various networking sites such facebook, twitter, whatsapp, wechat, etc. everyday peoples spend thousands of hours after this sites. So, if we publish our ad here. We will be able to connect thousands of people.  BILLBOARD, POSTERS AND LIFLATES: Many new products and service use billboards for promoting their products and service. We will hire 5 billboards around the Dhaka city. Each of the board will be in populated area such as shahbag, gulshan, moghbazar and mirpur. Posters are also a great way of promot. Leaflet will also be there. Conclusion We always think about our customer‟s choice, needs and demands. We understand our customers and what they want. For that, we discuss here about customer-divine strategy and mix. And we are so hopeful about our future by understanding our marketplaces. At last, we like to say all the self publishers and the interested people in this kind of section try to be a creative one as we have a beautiful mind. We, the “self-e” brand, are with you and will be you to flow your creativity.