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Generic marketing entry strategies
 

Generic marketing entry strategies

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    Generic marketing entry strategies Generic marketing entry strategies Presentation Transcript

    •  
    • Essentials For Market Entry
      • Firm`s brand name
      • Management`s Strength`s
      • Operational Strength`s
      • Capital resources
    • Types Of Market Entry Strategies
      • FOR NEW FIRMS
      • First Movers
      • Alliances
      • FOR EXISTING FIRMS
      • Fast Followers
      • Brand Extender
    • First Movers
      • Entering first into the market
      • Taking the advantages of user awareness followed by consumer transactions & experiences then grow brand strength
      • Eg amazon.com
      • ebay.com
      • etrade.com
    • Concept – First Movers
      • First movers experience short lived monopoly
      • They then become the only providers for few months
      • During that period competitors come in the market as entry cost is low
      • To prevent new entrants in the market , first movers need to advertise aggressively
      • Objective is building brand (site) awareness
      • Majority of the marketing budget is spend on high visibility advertising in mass media to strengthen brand
      • Brand strengthening will create less chances of customers to pay the switching cost
    • Limitations Of First Mover`s
      • Lack of trust & loyalty
      • Lack of financial depth
      • Lack of Brand reputation
      • Production facilities needed to meet customer demands once the product succeeds
      • Site visits do not translate into purchase
    • Alliance
      • To ally themselves with established firms
      • (Firms having established their brand names , production & distribution facilities , financial resources need to launch a business )
      • Eg Brainplay an e-tailer of children`s goods entered into alliance with KB toys unit to form new online presence called Kbkids.com
    • Fast Followers
      • Using existing brand name to expand or enter market
      • Eg Barnes & Noble , world`s largest book retailer , formed barnesandnoble.com after the success of amazon.com
    • Brand Extender
      • Mixing of online branding with offline stores
      • Already having the advantage of existing brand and relationship
      • Brand extenders do not separately set up online stores rather but instead integrate with online firms
      • Eg Walmart
    • E-CRM
      • Customer relationship is the next step once the company enters into the market
      • Public relations and advertising media vital for establishing relationship
      • Three important techniques for E-CRM are :
      • Permission Marketing
      • Affiliate Marketing
      • Viral Marketing
    • Permission Marketing
      • Marketing strategy in which companies obtain permission from consumers before sending them information or promotional messages
      • Sending information helps in developing relationship with customers
      • When consumers agree they are opting in and when consumers do not agree they are opting out
      • Eg companies asking for email from customers
    • Affiliate Marketing
      • Affiliate adds link to the company`s website on its own site and encourage its visitors
      • When one website agrees to pay another website a commission for new business opportunities it refers to the site
      • Also it can be upon the number of clicks , flat fees , or combination of both
      • E.g. Ebay`s affiliates program pays $4 for each visitor who become a registered user
    • Viral Marketing
      • Process of getting customers to pass along a company`s marketing message to friends , family and colleagues
      • Online version of word of mouth
      • E.g. half.com is using the strategy by giving $5 to the person when his friend , family , colleague spends $10 on first order
      • (People are asked to give the name and email address for the friends and relatives whom they want to tell about the site)
    • Brand Leveraging
      • Using the power of existing brand to acquire new customers for a new product or service
      • Eg Tab was the first to introduce diet cola drinks , Coka-Cola ultimately succeeded in dominating the market by leveraging the coke brand to a new product called Diet Coke