Marketing Analysis Of Pentabytes ' Overall Market Strategy
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Pentabytes’ overall market approach is to focus on smaller, high margin segments. We will achieve this goal by using both a B2C and B2B approach, in different phases. By implementing these phases, it will allow us the time to continue improving our product, using the highest quality and innovative technology to stay ahead of our competitors. Innovation along with differentiation is fundamental in the firm and will help us achieve brand loyalty as well as market dominance. By having the competitive advantage over the other competitors, this will result in maximizing profits for the firm, and as production increases, eventually lead to economies of scale. Reducing costs is one of our priorities at Pentabytes; this is why we…show more content… Once we have achieved the desired market share, we will expand our market approach to focus on a larger and highly competitive segment.
After conducting a Market Opportunity Analysis (MOA), our strategy focused on matching up benefits and features in our product(s) that will be attractive to our target market. Specifically, it consisted on satisfying consumers’ needs, while at the same time providing abstract benefits. We chose the name Pentabytes 1 and 2 for both our PC and laptop, respectively. We kept the same name for our first products as our company name in order to uphold the significance of what we represent: innovative, cutting edge, and leading technology. Our selection of features and their accompanying costs for each product will position each brand favorably to our target market, thereby, achieving the desired results of our first test marketing efforts.
Our market communication strategy will consist of planning our advertising program that will include the following components: ad copy design, media placement and advertising effectiveness. Sales will be stimulated by emphasizing benefits through our message ads and strategically inserting them in desired locations. As part of our advertising effectiveness measures, we will estimate how well these ads are reaching our target markets, especially in relation to our competition. Detailed attention will be placed on how we can improve the advertising