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Balance between customer and competitor orientations
Course:- Marketing Management
Reference No.:- EM13700172




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Assignment Help >> Marketing Management

Q1 - Why is it important for a company to maintain a balance between customer and competitor orientations?

Q2 - Segmentation strategy

Is it a good idea for a small company to adopt a differentiated segmentation strategy? Explain. Point out the benefits as well as the dangers of this approach. Does it fit every industry, or would it be better in certain domains and less effective in others?

Students will complete the situation analysis section (section 2) of their marketing plan. It is expected that your completed document will be two to four pages in length. Since a formal market analysis will not be used for this exercise, educated estimates will be sufficient.

Situation analysis

1. Market description (note: make sure you segment your market into at least three different segments)

1. Segment

1. Description

2. Expected % of sales

3. What consumers want

4. How consumers will use the product

5. Support requirements

6. How to reach them

7. Price sensitivity

2. Segment

1. Description

2. Expected % of sales

3. What consumers want

4. How consumers will use the product

5. Support requirements

6. How to reach them

7. Price sensitivity

3. Segment

1. Description

2. Expected % of sales

3. What consumers want

4. How consumers will use the product

5. Support requirements

6. How to reach them

7. Price sensitivity

4. Miscellaneous

2. Competitive review including discussion of market position, strengths, weaknesses and market share

3. Distribution review

Answered:-

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There are three main components related to orientation of market that include orientation of customer, competitors and inter- functions(Tong 2012). Orientation of customer is where the organization invests its resources in order to gather information regarding the behaviour and needs of the customers. Orientation of competitor is known to be where the organization directs the resources in order to gather information regarding the activities and behaviour of the competitors(Tong 2012). The strategies of an organization must be aligned with the information collected from both of these orientations.

Organizations and professional of marketing use a number of different strategies of marketing for effectively conveying a message or for the promotion of a brand or product. Strategies of marketing have been designed for the creation of focus and an approach with detail for the campaign of marketing(Stanglein 2014). Differentiated strategy of segmentation is known to be the strategy when an organization develops campaigns that is appealing for a minimum of two segments in the market or the groups being targeted. Differentiated strategy of segmentation can be targeting two or more than two segments(Kurtz 2010).

This particular segment is focused on targeting the customers based on their gender. As the organization is known to be providing different categories of products for different genders specifications, the main target customer of each category will be based on will be based on their gender. It is expected that by targeting both the generations, the organization will be successful in increasing the sales by 60 per cent.




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