Marketing
The content of the topic “International Segmentation and Positioning” for this week can be found in the attached word document. By considering the actual marketing foundation you all already have, and the information provided by the document, do the following exercises:
1. Go to the library (LIRN, username: 24439, password: onlinelibray39) here is the link https://proxy.lirn.net/FLNatlUniv .
Find examples of international magazines/newspapers (see: Business Week, Financial Times, The Economist, Latin Trade, etc.). From these magazines, photocopy (DO NOT TEAR OUT) examples of ads. These ads can be for familiar or unfamiliar products. Now try to identify the market segments that are the subject of the ads. What can you tell about the segments from the ads? How did you determine the facts about the segment? What other segments might the ad appeal to? Are there any comparisons with this market (and its segments) to the U.S. market (and its segments) for the same product?
2. Select any three of the following Web sites and describe what market segments are being pursued by the various companies. In addition, (if possible) describe what segmentation and/or positioning strategies are being used by the firms.
a). SAP (http://www.sap.com/usa/index.epx)
b). Acer (http://www.acer.com/worldwide/selection.html)
c). Procter & Gamble (http://www.pg.com/en_US/index.shtml)
d). HSBC (http://www.hsbc.com/1/2/)
e). Vodafone (http://www.vodafone.com/index.US.html)
f). UPS Global Connections (http://pressroom.ups.com/globalconnections/)
3. Go to the Web site of Bandai, a toymaker at (http://www.bandai.com), and learn about the company and its products. Your assignment is to devise a product introduction strategy for this company into the U.S. market. Consider steps that you would see as critical. Remember to include some form of a plan for all of the marketing mix variables (product, price, promotion, and distribution). Be sure to designate which market segments would be the primary ones for your product introduction. Be sure to describe the segments and relate why you think that they would be prime prospects.
4. Go to the Brand Channel’s Brand Papers Web site (http://www.brandchannel.com) and investigate 2-3 products of your choice. Cite the products you studied, indicate what type of information might be available on this site, and the products’ position relative to the competition.
5. Read the attached case study “The Headaches of GlaxoWelcome” and analyze the case based on its questions.
6.As an additional task, read Appendix on page 257. It provides an example of statistical functions applied to segmentation and positioning analysis.(see attachment with apendix content)
Submit the assignment through this link.
Market Segmentation
Student’s Name
Institutional Affiliation
Professor’s Name
Course
Date
Market Segmentation
The economist uses market segmentation for advertising their product. They have different segments, including one that targets students. From the advert, one can tell that different users have a different experiences when they visit the website. The magazine offers different services to different customers depending on their needs. The students are offered a student discount. They use the student discount to attract customers who need the information they provide, but they are students and cannot afford the annual fee; hence they provide the quarterly fee where they can get to access the magazine for $35 for the first twelve weeks. This offer is only in digital view.
Those who work in offices or the corporate world are given a different option than the students. They are given the option to have the digital and the print version. Their annual fee is $409 years and $105 quarterly. The print version is delivered weekly. The magazine also has other options such as gift subscriptions where one can share with family and friends. The advertisement in this magazine targets different segments of customers depending on their needs and financial capability. There are comparisons for the product in the U.S. market as other magazines are targeting the same segments. The New York Times, for example, targets the same segments in the U.S. market. (https://subscribenow.economist.com/)
The P&G Company targets different market segments. It focuses on new parents who are interested in helping other parents through their donations. There “all good” package consists of diapers. They also target populations whose main target is t reduce their carbon footprint. They have “plant-bases wipes that are gentle on skin. The other segment targeted by the P&G products is women. They provide them with comfort during periods using their always pads and their always discreet panties. The HSBC advertisement focuses on the developing countries that are still depending on coal for energy. Their aim is to reduce the emissions produced from coal, but they target doing it slowly. Their aim is to phase out the use of coal entirely. This advertisement mostly targets the developing countries in Asia. The ACER advertisement mostly focuses on customers who are looking to connect to the world. The advertisement targets different segments of customers. Those looking to play video games using the product, those looking for speed, and those looking to use it for work.
A product introduction strategy is designed to introduce a product to a new market. Bandai brands are produced in the third largest toy manufacturer in the world. Their products range from toys and action figures to video game software, clothing and candy. The video game and action figure market are high in the U.S. With the technological advancements that are being done daily, the video game industry is racking in millions.
The product, in this case, would target children, teenagers and young adults. These are the people who are more interested in the products. Before introducing the product in the U.S., the first step is customer and market research (Kiss & Barr, 2017). This involves analyzing the competition and figuring out what the competition does not provide so that the new product can provide that. Customer feedback is also essential, and therefore doing a field study on what the consumer would like to see in their video games or action figures is essential so that one can provide that for them. The next step is testing. This is where the product is sent to the market, and a few customers test it. Testing reveals the adjustments that should be made to the product. The video game, for instance, could have some features that are not suitable for the market and the feedback given by the customers who have done the testing could help make adjustments (Kiss & Barr, 2017). The primary product for the introduction would be video game software. The software targets children and teenagers. This market segment would be the first to be tested in the U.S. Teenagers and children in the U.S. spend most of their time on their gadgets and therefore are likely to help the product grow. This is because they are more interested in the new games and therefore will help the product to grow.
The first product I studied is the Rebecca Minkoff products. The products are fashion reacted raging from bags, accessories and clothing. The site provides all types of information on different products. The information ranges from success stories, journeys towards success, and running a product. I also studied GANNI. I listened to the CEO talk on the media market and consumer behaviour. The site has all types of information regarding different brands and how they succeeded.
Case study
They thought that it was wise to introduce another line of migraine medication as they thought they could market Naramig as an alternative to Imigran. Naramig was the second generation of Imigran as it was stronger and had fewer side effects. GlaxxoWellcome should position Naramig in the U.K. as the second generation of Imigran (Jenny et al., 2003). It could be positioned as an improved version of the first migraine medicine. It works faster and has fewer side effects than the first. No, it was not the best strategy. The alternative option could have worked better as companies are allowed to keep improving on their products. Naramig could have been positioned as a stronger alternative to Imigran. A replacement technique like one used in the U.K. could work better in the U.S. than it worked in the U.K.
References
Bandai Co. Ltd.- Company profile, information, business description, history , background information on Bandai Co., Ltd. https://www.referenceforbusiness.com/history2/13/Bandai-Co-Ltd.html
https://www.acer.com/ac/en/US/content/home
Jenny. E Chun, Freedman. J, & Parker. N. (2003). The Headaches of GlaxoWellcome. Case studies
Kiss, A. N., & Barr, P. S. (2017). New product development strategy implementation duration and new venture performance: A contingency-based perspective. Journal of Management, 43(4), 1185-1210.
