The document discusses strategies for upscaling a brand from the middle market segment to the premium segment. It notes that simply extending an existing brand name may not be successful if customers in the premium segment do not want to associate with a brand from a lower segment. It suggests using sub-brands or a new brand name to avoid this issue. Other recommendations include leveraging social media analytics to understand target audiences, developing personal relationships to build trust, focusing on the local community to build credibility, partnering with influencers, and delegating tasks through clear responsibilities to allow the business owner to focus on strategy during the upscaling process.
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Services Marketing.pdf
1. 1st Answer
While the consumers in South India are getting more evolved, more experimental and
they also spend more, the customers in north India are lethargic. However, north
Indian customers are more demanding as compared to the consumers in other parts
of the nation. They are more materialistic, quality conscious and status conscious.
What is interesting is that both these segments of market have shifted away from
price and value-for-money based consumption to money-for-value based
consumption. This shift of customers behavior from priced-based to value-based
indicates that the customers of north as well as south India, are not in the same
portion, they are willing to upgrade for the right portion even if it is at a greater price
as compared to what he or she has been paying for it currently.
Income and Development: As per a study, it mentions that around five states in the
south of India can be very well be another nation, provided their huge development
path over the decades, compared to the states in North India. They would not only
attain superior progress in the improvement of various indicators of social
development but also on the economic prosperity of the individuals.
The south Indian cities of India are more urbanized, economically progressive,
holistically developed and sound, and this influences their behavior of consumption.
Around 33% of the houses in these regions are SECA and B households, and this
implies that they are on a higher socio-economic class. This is higher as compared to the
rest of India having 24% of the houses.
Investing in Large ticket size products: It is observed that the consumers in North
India spend on large ticket size items are higher as compared to the other parts of India.
Cities in north India adopt a much more outside-in approach, and this is reflected
through their spending more on clothing and lifestyle.
We must adopt a segmentation strategy for products that are consumer durable.
Geographic segmentation: Grouping the customers with respect to their physical
location. It involves segmentation of the audience on the basis of the region they work or
live. This is done in various ways by grouping customers by the nation they live in, from
region to city, and to postal code.
2. Easy to implement: Geographic segmentation is different as compared to other types of
market segmentation as it needs less data points. As a result, it provides a quick and
effective route into personalized marketing and can provide tangible methods to reach
out to the potential customers with the help of their location as a start point.
Though all the segmentation involves grouping the customers by the area they would
live or work in, we talk about selling on the basis of the availability of a product to a
certain area. This refers to a tool that is useful to the business only having the
infrastructure or facilities to serve customers with certain boundaries.
With the use of geographic segmentation, the company should be able to target
potential customers who live in the city and deliver relevant marketing through ads on
social media.
Seasonal offers tend to run for longer periods, for instance, the IKEA promotion, which
was marketed to the customers of England as the summer kicked in. They are also
time-sensitive, like a supermarket promotion of ice cream during a heatwave that is
unexpected.
If the brand targets an area that is constantly hot, for the summer duration, you can get
a little creative.
If youâre targeting an area that is consistently hot, or perhaps for the duration of summer
months you could get a bit more creative.
Different regions would comprise of different values in order to determine the customers
to make a decision in order to make a purchase. In some scenarios, these values are
determined by the local religion and cultural customers, and in other cases, they should
be more about the local habits that also need to be understood and catered to.
Conclusion: A very common consideration for the producers of food is the religious
restrictions and the following of culture when it comes to food. Organizations need to be
careful when it comes to all these things and keep in mind these things when they
design their offerings in Bangalore.
3. 2nd Answer
A tiffin-related business is predicated to work superbly among these people that
work or stay away from their homes. For instance, a city like Mumbai consists of
a large number of people coming from various cities and states in order to
acquire quality education and good number of employment.
The lack of home-made good would eventually force such people to look out for
different options that suit their everyday budget along with fulfilling their stomach
through regular meals.
Business can target such an audience. The probability to be successful in this
sector is more as these people hardly complain about the food quality on a
regular basis. It is important to remember that ordering food through Swiggy and
Zomato on an everyday basis can prove to be costly, something which most
people are not able to afford.
The lack of home-made food obviously forces such people to look out for various
options that can suit their daily budget and also fulfil their stomach through
regular meals.
Whether it is your startup business, an educational organization or a hostel, one thing
that can be found common at these places is a mess. India consists of a huge number
of business, and they employ hundreds of people simultaneously. Most of them depend
upon in-house mess services, and these are mostly not satisfactory.
Business can target such people or collaborate with the organizations. Through the
collaboration, employees and students who live in hostels can enjoy home-made
cuisines that can satisfy their taste buds and also on their pockets.
Normal tiffin-related services is cheaper as compared to other items of food that are
possible to be consumed from out on a regular basis. Moreover, the variety of menu
that is available through a tiffin-related business can also excite people to purchase this
service.
When it comes to eat at a restaurant is a fun thing to do. Also, it is expensive or if it is
done each day. Most restaurants are over-priced and unhealthy to eat from. A packed
tiffin, on the other hand, is easy-on-the-pocket and provides all the taste you would get
out of any restaurant.
4. The need and demand for good food never ends. Many people live away from home.
The brand can deliver fresh and home-made good food that is cooked with care. The
concept of cloud kitchens encouraged lot of women to deliver their specialties of
particular cuisines. The business model of a tiffin-service is simple and it is very
attractive to pursue. The customers of the brand would be happy to work with a neat
and a clean kitchen if they offer food for their canteens or corporate parties. They simply
love to eat good food. So, the brand may also conduct a lot of research, observe the
market and figure out the best possible way to prepare the food for the clients.
The chef-in-charge has to get proper training and certifications, especially when it
comes to the course of food safety. The brand can also follow the guidelines of the
policy of the food business. Getting the license of the management of food safety is a
next step in the launching of the business.
The brand needs to decide the kind of food they wish to select and the suppliers
accordingly. They should employ a manager to oversee the kitchen in their absence.
The brand must keep in touch with the bakers, farmers as well as local farmers. It is to
ensure that you arenât overburdening them with lot of work. It is important to determine
how much the brand can take at one time, not more and not less.
A good tiffin service provider has a good connection with the farmers, in order to meet
the demand. Also, he or she must have a good grasp of the trends in the market.
Prices: He or she has to submit a proposal to the customers for the budgeting. It is the
best and the most simple way to gauge the affordability of food. Remember, the
customers are always on a budget. The low ticket size of the service can be considered
as a drawback. So, it is a good way for you to tap into a plethora of market. So, it isnât
challenging for the women entrepreneurs, and it is the niche market and he or she
doesnât have to fill in the gap.
App-based delivery service: If the brand wants to extend the business to wide
range of customers, then it would be a strong move to launch an application for
the service. It is important to hire a reputed app development agency in order to
build an all-inclusive plan for the business. It is important to be clear about all the
features and additions they want in the app. With an app, the brand has an
opportunity to provide different packages for the customers under the same roof.
The brand can provide them with the option to get a monthly subscription or
place an order under the same roof.
The brand can provide them with an option of a monthly subscription or place an
order when they require it in real-time. With an app-based tiffin delivery service,
the brand can also offer the customers the freedom to choose their dishes. So, it
is important to remember to keep the menu homely yet delicious.
If the brand wants to add some spunk to their menu, they can go with a couple of
cuisines instead of sticking to the same old. So, it can be concluded that a tiffin-service
can do wonders and it is much better as compared to the restaurant.
5. 3rd Answer
A brand extension refers to a strong way to grow and develop the organization by
unlocking the untapped potential of the business. By exploration of the new potential
areas for relevant growth, brand extension provides companies with an access to
everything from better brand visibility, to boosted connections of consumers and more
opportunities for profit.
No. The brand name Trail Blazers is the correct name for the HR consulting services.
This is because the brand ââ Trail Blazers is already catering to consulting students.
The main purpose of making use of the same brand name is to ensure that it takes the
advantage of the value and power that the brand commands, instead of building a
completely new brand, which would incur a huge expenditure, and would take time.
The company would sense an opportunity in the premium or/and value segments of the
market, apart from its existing markets. The company enters into these premium or/and
value segments as well. These movements are known as scaling and downscaling
respectively.
When up-scaling is done with the help of an existing brand name, it is possible that the
new brand would not be successful as customers in the premium segments would not
accept the brand that was present in the popular middle segment before the brand
entered into the premium segment. Though up-scaling an existing brand would not
necessarily fail, the customers in premium segments will never prefer to associate with
popular brands.
Using sub-brands having clearly distinguishable personality and values, or introduction
of a completely new brand may be required in this case. A new brand is the safest
option for up-scaling as it does not carry any baggage of associating it with existing
segments of market. However, it is said to be the most risky and expensive option as
well.
Smart marketing: In order to ensure that you upscale your brand from middle to
premium segment, youâve had to tell dozens â maybe even hundreds â of people about
your business. Since the apparel brand has been selling its product and services, your
6. products and their brand successfully until now, the following things should be
answered by the brand. Are they in a position to reach a wider audience? Do they know
where to find bigger business? Can they convince people to choose you, over your
competitors? Marketing their business must be an evolving practice changing along with
their goals. Here are some of the key areas that need to be focused on when marketing
your business for bigger and better things:
Conclusion: Dissect your web-based media: Utilized well, online media is an always
developing information base of planned business. With a particularly gigantic crowd,
you can discover new possible clients to target. The more significant adherents you
have, the more noteworthy believability you'll have with regards to viewing for enormous
business.
3b.
Introduction: For each friendly channel and web stage, examination apparatuses can
give you inconceivably top to bottom data about the segment of your devotees and how
they connect with your substance.
Utilize individual and nearby impact: One of the best benefits you have against your
rivals is an opportunity to fashion individual associations with your intended interest
group. Where huge corporate firms can just say they care about that association, you
can invest the energy and exertion to persuade individuals on an individual level.
For each deal you secure and administration you give, center around making your
clients' encounters as close to home and critical as could be expected. At the point
when you're contending with industry pioneers, you will most likely be unable to
coordinate with their costs or co-ordinations, yet trust and brand dependability will
create rehash clients and make them talk about your business.
For some private ventures, being 'nearby' will colossally affect brand discernment. On
the off chance that there is a business opportunity for what you're offering in your
neighborhood, should make that a critical focal point of your advertising methodology.
Individuals are feeling burnt out on corporate takeovers, so it's no big surprise
neighborhood and free organizations are blasting. This isn't to imply that that your
clients presently don't esteem serious evaluating and the simplicity of administration that
accompanies worldwide chains; they do. Nonetheless, on the off chance that they can
discover what they're searching for, support nearby organizations and get an
extraordinary client experience, they will be more disposed to thank you with their
unwaveringness.
Outfit important influencers: Social influencers are colossal in the style and way of
life areas, and it's no time like the present different enterprises took a gander at
outfitting their compass.
7. Cooperating is commonly helpful â the brand acquires openness and the influencer gets
free items or administrations, and some of the time commission or a money impetus as
well.
To saddle the force of social influencers for your business, discover accounts that are
trailed by your intended interest group. This is critical â there's no advantage in arriving
at a great many adherents on the off chance that they have no interest or need for your
items or administrations. Whenever you have a waitlist of attractive influencers, connect
with them to discover what they need as a trade-off for advancing your image.
Conclusion: Having built something from nothing, many business owners find it hard to
let go and hand over control when up-scaling. Itâs understandable, but micro-managing
will hold back the people you employ to make life easier. Also, taking on too much for
yourself will â as discussed above â take you away from the strategy side of running the
business. As hard as it may be, delegation is essential if youâre looking to expand.
Ensure you have a framework that clearly outlines each employeeâs responsibilities, and
encourage communication between all levels to keep things running smoothly.