¶ … Marketing
When a product enters the maturity stage of its lifecycle, competition takes on certain traits. It becomes more intense, as the industry is now a zero sum game. Competitors often enter at this stage to try to take market share from the leader. This results mainly in price competition.
There are several strategies appropriate at this stage. The first is differentiation. The industry leader, in order to maintain price levels, needs to show the consumer they their product is demonstrably superior to the imitator. Another strategy is feature diversification, where new features are introduced to the core product in an attempt to provide the consumer with an additional benefit. Cost- and price-cutting is also a strategy employed. This is sometimes viewed as inevitable because of the price competition and viable because at this stage profit levels are relatively high. A fourth strategic option is saturation, where the leading company adds lines of accessory products and subtle variations in an attempt to build a barrier to entry for competitors and shore up whatever market share is still to be won.
The market mix consists of product, price, place, and promotion. Differentiation is a promotion strategy - a new way of selling the product to the marketplace. Feature diversification is a mix of product and promotion. Minor additions or changes to the product are heavily promoted. Price-cutting is a price strategy. Saturation is a combination of product, place, and promotion. New products are added to the mix, sold in more places, and more heavily promoted.
The first strategy I would employ to defend a dominant position in a mature market is differentiation. This strategy, if successful, will discourage newcomers from thinking they can win more than nominal market share. It will also preserve margins and maintain the strength of the brand, which price-cutting will not do. Furthermore, unlike saturation or feature diversification, it does not require any investment in new product development, making it a more cost-effective option.
or, Mochalicious could simply take its formula and open up more stores. One of the good things about being in a place like Melbourne with its massive coffee culture is that there is always room for another good coffee shop. Once Mochalicious is established as successful, the company is in a position to grow, and that means taking the name to other parts of town, other suburbs or even to
Marketing, Product Safety, and Intellectual Property Ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety Various organizations often find themselves in the wrong side of the law when undertaking their various business practices relating to marketing and advertisement. It is the desire of every company to have its product known to as many consumers as possible. This often drives them to employ diverse marketing and advertisement
Marketing and the Competitive Environment Marketing objectives and approaches Marketing focuses on the identification of the needs of the customers and working towards meeting these needs. Marketing activities involves primarily looking out for the customers needs and ensure that they convince the customers the business offers what will meet their particular needs and wants. The main objective of marketing is to ensure that the company promoters the idea that it offers the
Targeted Segment Customer Need Corresponding Feature/Benefit Families (consumer market) Ample seating Built in entertainment Easy Entry Safety Ample room Seating for seven Dual fold down DVD screens Dual sliding power doors Rearview back camera Large cargo capacity Source: http://www.vw.com/routan/en/us/ Competitive Review Competitor Model Features Price Honda Odyssey Aggressive Front and Rear Styling, Power Sliding Doors, Alloy Wheels, Bluetooth® Hands Free Link®, Honda Satellite-Linked Navigation System ™ with Voice Recognition and Rearview Camera and Tri-Zone Climate Control $26, 805 Kia Sedona Alloy Wheels, Auto Light Control System, Navigation System, Bluetooth with voice recognition, Rear seat DVD entertainment system $24,595 Toyota Sienna Alloy
Marketing Internet TV -- Present and Future The future of how will people watch television is far from clear. The rapid advancements in technology have provided an increased number of options for different kinds of program viewing. Customers now have the ability to view only the programs they want without having commercial interruptions. Although this can be effectively accomplished now with devices such as the digital video recorders (DRV), when internet derived
Marketing Company G. wishes to launch a line of small appliances. The marketing plan is designed to guide the process of bringing that line to market. The line will initially begin with a couple of products, but will eventually expand to fill a broad portfolio of products. Within Company G, the small appliances line has been developed not only to take advantage of an opportunity in the market, but is designed
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