Marketing Strategy Of Moleskine

One of the most successful and well-known tools used to determine market segmentation is VALS, which is developed by Strategic Business Insights. VALS stands for “values and lifestyles,” which places U.S. consumers into one of the eight profiles based on their level of resources and one of the three primary consumption motives of either ideals, achievement, or self-expression (Ferrell & Hartline, 2014, p. 138-139). VALS is primarily used by companies to market new product development, brand development, promotional strategy, and media placement (Ferrell & Hartline, 2014).

In this piece of marketing course work I am going to explain how to produce a marketing strategy for a new or existing product. I will explain how my strategy is based on the principles of marketing. I aim to use primary and secondary resources to help me to analyse the marketing context. I will then explain how to develop a product that meets my target customer’s needs.

Tambrands is a company that uses single-product strategy to advertise their product known as TAMPAX. This product is the best selling product with 44% of the global market share. Out of this 44%, approximately 90% of its sales come from North America and Europe. One of the main reasons for tampax being successful only in North America and Europe is because tampons still have not gained popularity as a result of various cultural resistance, religious resistance and/or myths associated with using a tampon. This case study discusses the various issues that Tambrands had to overcome in order to create a global demand for its product.

3) Capitalize on the renewed strength on the brand name by extending it to other mens’ grooming products.

Developing strategies in relation to any application of marketing suggest a marketer’s ability to comprehend and align business practices with the need of the consumer and business simultaneously. Strategies present challenges whether domestic or international markets are the emphasis. The ability to set customary prices, have market presence, encouraging advertisements and publicity, understand the competition, develop accurate communication, a complete SWOT analysis including domestic and international markets, and customizing the target market, present boundless opportunity that consumers appreciate and market recognition. At each stage of

Nordstrom’s and Topshop’s marketing strategy both target a specific segment of the market. While Nordstrom’s focuses on higher end/quality goods and competitive pricing, Topshop’s offers consumers the runway and street fashion at affordable prices. The companies are examples of niche marketing, which “allows the organization to create more narrowly focused marketing plans for its brands than segment marketing approaches.”(Finch, 2012)

In conclusion I found that by producing the product I was able to help several consumers with skin blemishing and aging problems. Many consumers continue to live with their skin unhealthy due to high costs of several different products. Now consumers are grateful to make a choice from a product that will have the same quality and effect but at a lower price in the market world.

In conclusion, we must appreciate the level of involvement needed by companies to effectively market and sell their products. Competition notwithstanding, marketing must create awareness and a need for a given product in order for it to sell; it is no longer adequate to rely on foot traffic and natural curiosity. Especially with our modern world, it is imperative for the advertising to be focused on a core market, adeptly changing as tastes and customs dictate. Innovative products require imaginative marketing; a better mousetrap may change the world, but people must be told it

“Marketing strategies can have a broad impact on the business in terms of instilling a marketing orientation among all those in the firm: the way of thinking or philosophy of the whole organization. However, marketing strategies can alternatively be seen as dealing only with the development of competitive advantages directly associated with the marketing function such as customer loyalty and distribution channel control. In the latter case, the domain is sometimes even further restricted by sole attention to the various element of the marketing mix rather than the more general issues of customer and channel relationships. There are two key

This paper will look at the chosen area of decision making, which was the Target Segment. This required the analysis of the different target segments available when marketing a backpack in a virtual game (MH Practise, 2016). The target segment, also known as the market segmentation, is a similar group of customers to whom a company wants to appeal to (Lamb, 2016). The purpose of market segmentation is to enable the marketer to tailor to the marketing mix. This will allow the company to ultimately cover various segments in a market. There are numerous ways to segment a market. This can be done through demographic, physiographic, geographic and behavioural segmentations (Pewa, 2016). Throughout the report the target segments

Customers are assets, and their values grow and decline. Segmenting customers based on their lifetime value is a powerful way to target them because marketing mix activities can then aim at enhancing customer value. (Ho, 2006)

Value is also perceived differently between customers, and is relative to the value customers perceive is available from market alternatives (Smith & Colgate, 1988). Customers may choose to shop at Smiggle over alternatives such as Kiki K because they may perceive Smiggle to have similar quality products at a lower monetary cost. Conversely, other customers may not place a high importance on colour and aesthetical appearance when shopping for a pen, and consequently may take their money to somewhere with more standard office pens, such as a newsagent. When assessing value, customers only factor in features of a product which they deem are important (Kotler et., al). Compelling value propositions must be created in order to entice customers and meet their specific demands (Smith & Colgate, 1988). Smiggle offers products that are functional, affordable and are creatively and colourfully designed to inspire fun in school and work tasks. Customers match their expectations to Smiggle’s value proposition, and if a customer believes the product does not hold the benefits it is supposed hold, the customer will be dissatisfied (Kotler et., el). Therefore, Smiggle must either meet or exceed customers’ expectations in order to satisfy them. This process is integral to the ‘mutual exchange’ characteristic of marketing, because companies must gauge demand and then deliver value in

Marketing strategies are generally concerned with 4 Ps; product, pricing, promotional and placement strategies. The focus of these strategies are the objectives to be achieved, meant to ultimately meet the business overall goal of revenue growth. The key to successful marketing is differentiation strategy. If consumers do not perceive Nike as being different from those in the competition, Nike will not win the marketing war. The battle for consumer minds is a battle of perceptions not the products, thus, it is important for Nike to constantly engage with a differentiation strategy and tactical activities to stay ahead as the leader in global sportswear and apparel market.

A global market place has increased competitiveness across all consumer brands. The internet has created a system whereby consumers can easily comparison, shop, read peer reviews and access consumer reports at the click of the button. To effectively market to this new, highly informed consumer, an approach to marketing orientation must be flexible and must be4 quickly altered to meet the ever changing thought process and demands of today’s savvy customer. Companies that have developed an approach to this marketing approach but fail to update it as needed run the risk of alienating their

According to Blythe (2010), segmentation, targeting and positioning are fundamental to the concept of meeting customer need. This essay will outline and analyse these fundamental tools of marketing in an academic setting, in addition to, assessing how an organisation of my choice applies them in a working environment. Included in this essay, will be an academic discussion of the advantages of market segmentation, targeting and positioning drawing upon views of various scholars. Furthermore, I will provide a profile of my chosen organisation as well as an assessment of their market segmentation, targeting and positioning strategies. The essay will finish with a summary of the main points and will draw conclusions based on the evidence which has been presented.