Generic marketing entry strategies

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  • 1.  
  • 2. Essentials For Market Entry
    • Firm`s brand name
    • Management`s Strength`s
    • Operational Strength`s
    • Capital resources
  • 3. Types Of Market Entry Strategies
    • FOR NEW FIRMS
    • First Movers
    • Alliances
    • FOR EXISTING FIRMS
    • Fast Followers
    • Brand Extender
  • 4. 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
  • 5. 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
  • 6. 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
  • 7. 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
  • 8. 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
  • 9. 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
  • 10. 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
  • 11. 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
  • 12. 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
  • 13. 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)
  • 14. 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