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Recently, Walmart announced it would begin selling organic food prod.docxdanas19
Recently, Walmart announced it would begin selling organic food products. In doing so, Walmart is probably trying to:
save the environment.
reduce its costs.
offset cost-based pricing pressure.
gain government subsidies.
attract a different market segment.
Abercrombie & Fitch, a hip clothing retailer, includes a "Share it!" button on its website. This button encourages an Abercrombie customer to post a link to a product page (perhaps showing a new style of jeans) on Facebook or Twitter. Abercrombie & Fitch hopes that the customer's friends (who are probably very much like current customers) will click the link, visit the page, and make purchases. This is an example of a ______ growth strategy.
diversification
market development
product proliferation
market penetration
product development
LeBron James, Alex Rodriguez, and other athletes are paid huge sums of money by companies for celebrity endorsements. If, endorsements by these athletes create a clear understanding among consumers of the companies' products, they can help with the firm's ________________ strategy.
product excellence
segmentation
customer excellence
targeting
positioning
For many years, because of the size of the U.S. economy, domestic companies ignored international markets, preferring instead to develop new product offerings for existing customers. These companies were pursuing a ________________ strategy.
market development
segment development
diversification
market penetration
product development
Portfolio analysis is a useful and powerful tool, but firms often need to take a more balanced approach because:
substitute approaches can offer different insights.
None of these.
measures are difficult to obtain and project.
All of these.
classifications can become self-fulfilling prophecies and strengths and weaknesses are distorted.
For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates:
strengths.
threats.
weaknesses.
strategic plans.
opportunities.
Starbucks has developed a number of metrics beyond purely financial metrics. Knowing the importance of perceptions and knowing the importance of developing ways to demonstrate its activity, Starbucks tries to find clear ways to:
help consumers to feel better about their purchases.
demonstrate its sense of corporate social responsibility.
build brand equity.
All of these
address concerns of opponents at local, regional, national and global levels.
8.
In 2007, Apple Computer Company introduced its new iPhone, adding a cellular telephone, a camera, and Internet access to its iPod. The company was pursuing a(n) __________ strategy.
product development
market penetration
market development
customer excellence
operational excellence
The strategic marketing planning process:
forces marketing managers to think rationally.
is a five-step process that should .
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2. Marketing
Marketing is engaging the customers and managing profitable customer
relationships.
Marketing Mix
A combination of factors that can be controlled by a company to influence
consumers to purchase its products.
3. Intoduction to the 4Ps of Marketing
Product
Features
Quality
Branding
Packaging
Warranty
Services
Price
Pricing
Allowances
Discounts
Payment Terms
Refunds Policy
Place
Channels
Market Coverage
Locations
Inventory
Transport
Promotion
Sales Promotion
Advertising
Direct Sales
Public Relations
Media Relations
4. STP of Marketing Mix
Segmentation
Market segmentation requires dividing a market into smaller segments with distinct
needs, characteristics, or behaviours that might require separate marketing strategies or
mixes. (Demographic | Geographic | Psychographic | Behavioural Segmentation )
Targeting
A target market is a set of buyers who share common needs or characteristics that the
company decides to serve. (Undifferentiated | Differentiated | Concentrated | Micro
Marketing)
Positioning
Product position is the way the product is defined by consumers on important attributes -
the place that the product occupies in the minds of its customers relative to competitors.
6. The 4P's of Marketing for Freebowler Super
Thrower
7. Product
Mechanical Cricket Bowling Machine
Eco - Friendly (Since Non-electric)
Lightweight , w < 30 kgs
Portable and Foldable
Can use real cricket balls
Repeatability
Speeds upto 140 kmph
8. Price
The company follows a very unique offering as the product is itself a simple
but yet very effective one. The company's bowling machine costs almosts a
third of what the other competitors are offering as most of them are with
electrical bowling machines with a complex setup.
Discounts - The company is offering a discount of 35% on the actual cost to
promote its product to reach maximum audience.
9. Locations - To reach more audience in an effective way, the company is using
its EXPERIENCE CENTERS across the country. The prospect s can come and
have a demo of the machine in these centers and then make an informed
decision.
The company ships its product worldwide.
Channels - Company Website | E-Commerce Websites | B2B Platforms (such as
IndiaMart)
Place
10. Promotion
The company has Mr. Ravichandran Ashwin, Bowler,
Indian Cricket team as Mentor and Brand Ambassador.
The company is also regularly interacting with more
and more academies and cricketers to expand its local
and global footprints.
The company is also engaging with the target audience
through common media and social media platforms.
12. Segmentation
The market for the product lies with the people who are interested to improving
their batting. Hence, people within the Interest Groups "Cricket" , "Cricket
Training", etc. are the prospects here.
The product finds its place in the people who are in search for AFFORDABLE
CRICKET TRAINING EQUIPMENTS.
The prospective buyer group for Freebowler Super Thrower are Cricket
Academies, Schools, Recreational Centers, aspiring cricketers, etc.
13. Targeting
The Super Thrower is also a very good fit for the rural markets with a middle class
income where there are electricity supply and monetary limitations.
The prime target audience includes Cricket Academies, Schools, Recreational
Centers, aspiring cricketers, etc.
Concentrated Marketing
14. Positioning
Cricket's First Non-electric Bowling Machine
The company is continuosly making efforts to establish this image in the minds of
their customers. Apart from the most attractive positioning point "Cricket's First
Non-electric Bowling Machine, it also tries to position itself as an affordable
machine for training.
15. Conclusion
Freebowler Super Thrower is an excellent example of IDENTIFYING THE NEED
among the concentrated market. Also, the company is continuously working with
professionals in order to innovate their offerings. In the same context, they have
taken a step forward recently with The Freebowler Hand Held Ball Thrower.
The company is expanding its global presence, thanks to the visionary leadership
and impressive marketing to come up with a product which is efficient as well as
affordable. Thus, it should be the top most priority of the entire team to measure
every inch of the market before entering. Good Marketing can guide you through
even a lesser known territory.
16. Presentation by -
Shubham Nema
https://www.linkedin.com/in/shubham-nema-1a3066a6/
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