Successfull marketing strategy analysis

Successfull market dodge analysisMarketingis the subprogram by which companies determine how yields or helpings go forth be according of interest to customers, and the strategy engagement to increase in sales, communications and business organisation development.It is the process through which companies create observe for customers and build strongcustomer relationshipsin order to capture and get close and positive feedback from customers in return.Marketing Planning ProcessThe planning process for the market enkindle be described as shown in the figure belowFor an organisation the lay should be specific target, the objective concern as profitability, markets growth, efficiency, financial resources, organizational structure, and social responsibility.2) Situational AnalysisBefore developing a marketing strategy for a corporation this is strategical to conduct some analysis. This is forge of essential part of any business or preparing marketing plan and should be revie wed over time to ensure that it is according to current business office. The following rout out be recitation to assess situational analysis for a alliance.The elements worth considering include product SituationWhat is current product? We cant break this definition up into parts such as the core product and any secondary or supporting services or products that also make up whats cosmos sold. It is important to observe which different parts in order to be able to relate this back to client demand.Competitive situationTo analyse the competitors what their situation and compare the feature/ benefit analysis. What are their free-enterprise(a) advantages?Distribution SituationIts well-nigh to Review the high society distribution Situation how the product getting to market? Is it possible to get their through distributors or other intermediaries?Environmental factorsWhich external and intragroup environmental factors should be taken into account. This can include economic or so ciological factors that impact on the companys mathematical operation.3) SWOT analysisSWOT analysis is a strategic planning method used in to a business to evaluate the intensivenesss, Weaknesses, Opportunities, and Threats involved in a project. Also specifying the objective of the business venture and identifying the internal and external factors that are in the favour and those which are not in favour to achieve that objective.4) Assumption MadeWhile preparing a strategy in a business assumption are very important and need to be focus on that. Its mean we made some assumption while taking any decision. Further more to attempt the predict in retentivity(predicate) outcomes from the external and internal things. almost of the assumptions that made when a business plane and process are made, very likely to come true. Assumption-based planning identifies and stresss the assumptions made in a business plan, the formulation of hedging actions and the construction of what-if scen arios.5) Marketing ObjectivesThese objects should be as followsLong-term Brand Value crude Product/ Innovation and serviceClear Product Definition egression in market share6) Forecasting results of strategiesComparison strategies for effectivenessComparing promotes development, concept development, and higher level intellection.Some company didnt compare like-for-like products forever.Some company battle between their products.A comparison strategy is theprocess of identifying how things are alike and different.Marketing mixWhen marketing their products pie-eyeds need to create a lucky mix of the right product ,sold at the right price, in the right place ,and of course using the most suitable onward motion. In order to achieve its goal ,the company has to implement the main four Ps of the marketing mix .mmixProduct StrategyProduct strategy is any decision that helps the company continue to develop new products around its signature ,it is very important for a company to implement its plans in a better mood by Defining the characteristics of a product or service to meet the customers needs. Ducati failed to maximize sales of its all-new MonsterDucatihas added the 804cc engine to the range.The thinking goes that the Monster 1100 is too big, the Monster 696 is too small, but, hopefully, theDucati Monster 796will be, like a bowl of warm porridge, just right. That engine gets pulled out of the Ducati Hypermotard 796 and shares that bikes 87bhp, 58lb/ft and firm slipper clutch. Combined with a low dry weight of 167kg .(369lbs) and the bikes friendly, flat-barred riding position, those new figures could make the Monster 796 the perfect source big bike for target market riders.Pricing strategyIdentifying the total cost to the user (which is likely to be higher than the charge you make) is a part of the price element. Monster 796 the urban Icon, as the holler suggests is a luxury item launched by Ducati for those who look for soil and status symbol, price hardl y matters for them. As per our target market the professed(prenominal) and sports people are going to buy it so following the porters differentiation strategy the pricing strategy will be premium. The Monster 796 will be available in the UK from May 2010 onwards and will be priced at 6,995, with the ABS version at 7,695 because our customers look for quality not price.Promotion StrategyThis includes announce, personal selling like attending exhibitions, and sales promotions like special offers, and also atmospherics such as creating the right impression through the working environment. normal Relations is included within Promotion by many marketing people.Promotion strategy for DucatiAdvertisingThe advertising campaign will be concentrate on the two target markets identified in the target market section, (Males and females).The purpose of the advertising campaign is to increase brand awareness of the Monster 796 the urban Icon. The sources of advertising are TV, Internet, Magazi nes, sport websites and the advertisement will show the new looks, features and the style of Monster bike.Sales PromotionDucati will use sales promotion to increase brand awareness, market share and gross. The use of Point of Sales Displays will be used with a gift coupon for the purchase of Ducati 796. Although, the use of Point of Sales Displays produces a short-term effect in revenue and market share, the brand awareness will have a long-term effect. The use of this sales promotion along with the rest of the marketing strategy will produce a long term increase in both revenue and market share.Direct CommunicationsDirect communications will be used to measure brand awareness, as well as increase brand awareness and market share. A survey will be sent out as a focus mailing to Ducatis target markets. The survey will measure brand awareness of insect repellents, likes and dislikes between Ducati and its competitors, and the outdoor activities of the survey taker.Place Strategy.Looki ng at location and where a service is delivered, in other words, Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet.Ducati has good relationship with its all dealers throughout the UK. The dealers are contributing a lot to the overall performance of the company. The company is recognising their efforts with the rewards to im stir it distribution strategy. Ducati dealers from all over the UK gathered for the annual Ducati dealer meeting during the recent London Motorcycle Show at Excel. The dealers were presented with an overview of 2009 and the plans and strategies for 2010 which should prove to be exciting times for the Ducati dealer network with the launch of the eagerly awaited Multistate and other innovative bikes such as the Monster ABS models.ANSOFFS MatrixThe Ansoff Growth matrix is a tool that helps businesses decides their product and market growth strategy.. It is used by marketers who have objectives for growth. Ansoffs matrix offers strategic choices to achieve the objectives. (Johnson, G. et. al., 2002)Market PenetrationIs ane of the four growth strategies of theProduct-Market Growth Matrixdefined byAnsoff. Market penetration occurs when a company enters/penetrates a market with current products. The best way to achieve this is by gaining competitors customers (part of their market share). Other ways include attracting non-users of your product or convincing current clients to use more of your product/service (by advertising etc). Ansoff developed theProduct-Market Growth Matrixto help firms recognize if there was any advantage of entering a market.Market instructionMarket development is the name given to a growth strategy where the business seeks to sell its animate products into new markets.There are many possible ways of approaching this strategy, including New geographical markets for example exportin g the product to a new country New product dimensions or packaging for example New distribution transmit Different pricing policies to attract different customers or create new market segmentProduct usingCompanies develop new products in subsisting markets. This is calledproduct development.An organization that already has a market for its products might try and follow a strategy of developing additional products, aimed at its current market.variegationThe two principal objectives of diversification areImproving core process execution, and/orEnhancing a business units structural position.The fundamental role of diversification is for collective managers to create value for stockholders in ways stockholders cannot do better for themselves1. The additional value is created through synergetic integration of a new business into the existing one thereby increasing itscompetitive advantageImplementing the Ansoffs matrix growth strategies on Ducati CompanyMarket PenetrationThe company has to get some more market share buy promoting and selling its new Monster bike, especially in the UK market where its sale decreased by 18% last year. The company has a good brand name so it is easy for them to eat up the competitor market share if they can provide some more customer benefit.Product DevelopmentAs far as the new target market is concerned the company has a great opportunity to go ballistic its market share with the launching of Ducati Monster 796 and to produce the similar and more modified models in near future which includes female bikes as well.Market DevelopmentThe UK sport market is very large and Ducati is not having the enough market share as compare to its competitors, so the company has to broaden its market in UK. Ducati has to increase the range of dealers and to make sure that every corner of the country is covered by the company.DiversificationBringing the new vehicles like monster 796 is the good choice for the company in order to meet the customers new and requirements and expectations and the company has to focus on the green technology products soon in order to alter its reputation in market and to bring a change in company style.New Marketing Strategies (strategic options)1-Porters Generic strategy (Differentiation Strategy)According to Michael Porter, the generic strategy is to be unique in the industry along some dimensions that are widely valued by buyers. It is rewarded for its uniqueness with a premium price. A firm that can achieve and sustain differentiation will be an above-average performer in its industry if its price premium exceeds the extra costs incurred in existence unique. (Porter M, 1985)Ducati main target is people who look for quality instead of price the company adds something more to their products as compared to the competitors. Differentiation strategy will help company to achieve its premium price and to meet the needs of the target customers.Michael Porter has classically defined five forces that drive industry competition, and has described a worthy approach to assessing the overall competitive dynamics of an industry. This approach has come to be known as a five-force analysis. (Colley.J et al, 2007)Managing change( Kotter,1998) ,According to change management guru John Kotter, less than 15 of the 100 or more companies studied have successfully transformed themselves. While the particulars of every case vary, Kotter has identified eight critical stages of successful change management. Mismanaging any one of these steps can undermine an otherwise well-conceived vision.PESTEL ANALYSIS Macro environmentMacro is remote environment of a company comprising economic, social, political, technological and ecological. One way of looking at remote environment is PESTEL framework.http//www.businessmate.org/images/PESTEL.jpgSwot analysisSWOTanalysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues .SWOTstands for strengths, weaknesses, opportunities, and threats.Strengths and weaknesses are internalfactors. Opportunities and threats areexternalfactors.In SWOT, strengths and weaknesses areinternalfactors. For exampleStrengthcould beYour specialist marketing expertise.A new, innovative product or service.Location of your business.Quality processes and procedures.Any other aspect of your business that adds value to your product or service.Aweaknesscould beLack of marketing expertise.Undifferentiated products or services (i.e. in relation to your competitors).Location of your business.Poor quality goods or services.Damaged reputation.InSWOT, opportunities and threats areexternalfactors. For example Anopportunitycould beA developing market such as the Internet.Mergers, joint ventures or strategic alliances.Moving into new market segments that offer improved profits.A new international market.A market vacated by an ineffective competitor.Athreatcould beA new competitor in your home market.Price wars with competitors.A competitor has a new, innovative product or service.Competitors have superior glide path to channels of distribution.Taxation is introduced on your product or service.Implementing SWOT analysis on Ducati companyThe following SWOT analysis will provide insights into Ducatis internal strengths and weaknesses at the end of the turnaround as well as the opportunities and threats posed by the external environment in which the company operates.StrengthsTechnical Excellence businesslike Value Chain ensure qualityStrong BrandLocation AdvantagesEffective managementStrategic AlliancesWeaknessesNarrow Target AudiencePolarized sales modest economies of scaleSparse Dealer NetworkLimited Growth since yr. 2000OpportunitiesFast growing segmentCustomers of Japanese motorcycles have low brand loyalty decrease in international trade barriersThreatsLow price of competitorsCompetitors enjoy lower costsCompetitors have high economies of scale and low cost of capital These strategies can be adopted for the best marketingBranding strategyNew product develops plc strategyMarket segmentation positioning strategiesSustained marketing strategies with morality and social responsibilityCompetitive strategies for marketingRelationship management strategiesInternational marketingSome of the strategies explained below with example.BrandingCompany brand is not what thinks of the company, its about what the customer thinks it is. And in an industry where the patent expiration clock is constantly ticking, its vital to make a lasting impression, and quickly, Patricia Malone offers five steps to creating a brand. prototypeIn the pharmaceutical world, when one considers the enormous pressure from reimbursement sources on providers to prescribe generics rather than brand-name products, the importance of branding prior to patent expiration is clear. Beyond that, the total branding process has value for a company because it helps the business focus on, enhance and be consistent with its message. In addition, it enables a company to continually test the message and see if its being played back the right way. findarticles.com/p/articles/mi_qa5351/is_200405/ai_n21348846/Market Segmentation strategyTo compete successfully in todays volatile and competitive business markets, mass marketing is no longer a viable option for most companies. Marketers must attack niche markets that exhibit unique needs wants. Market segmentation is the process of partitioning markets into groups of potential customers with similar needs or characteristics who are likely to exhibit similar purchase behaviour.http//www.s-m-a-r-t.com/Exp_marketseg.htmProduct Development StrategyEffective project planning is critical to implementing new product development strategies. In some cases new product development strategy introduction includes original research but in this case research actually resulted in the formulation of the new product conceptExampleGround prison-bre aking research undertaken at Victoria University (VU) showed that children wake up to take in alarms with familiar voices much more easily than they do with traditional smoke alarms that beep. VU Researcher Dorothy Bruck tell One hundred percent of children tested have woken to the mothers voice message- played at 1am in the morning. This compares to only 57 percent wakening to the current smoke alarm signal, played at the same time of night and at the same volume. This ground breaking new product development research coif the stage for KidSmarts intellectual property suite and drove our new product development strategies. From the start, we mapped out our performance requirements, usability strategies and product cost targets. It was also critical archaean on in the new product development process to identify component suppliers and production strategies for all major components including the actual smoke sensor. bresslergroup.com/process/speed_planning.asp