Strategies Of Business Marketing Case Study Sample

The image of a firm is one crucial factor that dictates its success in any business environment and that translates into its decisions and actions. In marketing, ‘nice guys' last longer than ‘bad guys' and it is true that consumers will pay that little more for good products. In an age where there are side effects for almost everything we use, consumers are quickly getting cautious with what kind of foods they take and the products they use.
A firm that is practicing bad ethics risks exposure, and when such an ordeal happens, it may lose a lot of customers depending on the competition in the market. Having worked with Wal-Mart, I have witnessed cool marketing strategies that surely keep it a top notch firm. Currently, it has embarked on setting up of numerous small stores, a growth strategy that is paying off well.
My most favorite brand, the brand that gives me the chills is Mc Donald's. Their foods and desserts are well made, and they give me the desire for more. Besides, their distinguished brand has been over a long period of sale of these great foods. Its vast coverage enables it to service tens of millions of customers daily, and its ethical, and exceptional services have enabled its brand remain the most successful in the sector. It has built its reputation by proving it is a better place to be by listening to its customers and taking the advice.
Being their brand manager, I would re-strategize their marketing plan and focus more on sale of healthy foods as a way of promoting the brand. Currently, most diseases caused by bad eating habits cause deaths in the world and majorly taking fast foods. This most probably scares away customers and the only way to bring them back is through assuring them that our foods are indeed healthy.
There are about four major factors that affect any consumer’s purchasing decisions: culture, social influence, individual variables and psychological factors. People are brought up in many different ways and hence adopt varying cultures. Their customs and practices shape most of their lifestyle and most tend to influence their decision. A product that is not favorable for a specific group of people whose culture despises it will not work well in that environment.
People also associate with other people in their day to day activities and, as a result; they end up making decisions that allow them to fit in the group. Their statuses and roles dictate to them what kind of clothes they can wear and what kind of lifestyle they live. Hence, they will buy commodities in line with their social statuses. Thirdly, our personal life also comes in the picture in terms of factors like age, personality, activities, wealth and a lot more. For instance, a vegetarian focused of healthy food consumption will surely not be a customer of McDonald’s. Attitudes beliefs and other psychological factors add to the list. Plus, ever wondered why brands use celebrities to promote themselves?
Selling a product at prices higher than the production cost are not aimed at profits but rather are meant to represent its exclusiveness and give the brand a richer name. My marketing strategy aims at getting into the competitive market with a reputable name through provision of significant commodities at suitable prices. First of all I would consider competition pricing since it works in most cases and still keeps the profits favorable. In a bid to break off competition, I would occasionally introduce the bundle pricing and take advantage of seasonal holidays like Christmas. But mine will involve a bit more of like ‘buy three get one free’. When these strategies prove successful for some time, I will dodge into penetration pricing where I will substantially reduce the prices having acquired a customer base and aim at breaking off competition.
Finally the use of psychological pricing is not bad at all, it plays with the mind of the buyers. I mean, who will buy a product at 40 dollars if they can save a dollar buying mine at 39 dollars. This strategy is long term as it involves several kinds of pricing over an extended period. In case any fails, I will go back to the drawing board and plan forward. Nonetheless, competition pricing remains as the backup plan since it keeps firms around the most favorable conditions.
This advertisement as much as it surprised me proved to be most relevant to its message. Its message focuses on the impact on the target groups, and message portrayed, and how people should view the product. Using a superhero, someone considered almost omnipotent, as a victim of an accident tells us that we should take precaution because accidents don't choose. The graphics are not gross as expected in a road carnage hence can be viewed at an average level.
The ad is targeting the driving people and also passenger especially in vehicles. Anybody having seen this ad will consider taking the necessary precautions, for instance; buying of speed governors and making sure their automobile are in good condition before driving as well as not drinking while driving. Nonetheless, such kind of an ad promotes a product by instilling fear in the target group. My favorable strategy of advertising for a brand will involve using images that show the importance of a product hence, encourage more customers positively.
User generated content is a very creative initiative in capturing the targeted market connected through the net. Firms are adopting this strategy since most people currently are over the net searching solutions to their problems. Others are posting their experiences turning forums into platforms for information exchange and fun. Doritos uses the most useful content, fun, and humor. The snack making company opened a forum for posting pictures of customers' experiences while enjoying some of their chilly snacks, and it surely raised their profile, increased their profits and people had fun as they always want.
I would consider fun and humor content on my site too as a product promoting strategy. It encourages people to visit the site and consequently get more information about all the commodities offered. It adds to the profile of the brand people have fun posting comments and pictures. In addition, a forum to take care of the queries and comments of the customers would also be considered too. Using Facebook, Twitter and other giants in social networking business would also be on my list regarding the large membership in these sites. Almost all firms today use this strategy to promote their brand. Social Networking is free in this generation, embracing it is a must do, we all love free, don’t we?