Market Strategy, Market Positioning and Marketing Mix - Assignment Example

Module Market Strategy, Market Positioning and Marketing-Mix METRAO is a calorie calculator that was recently introduced in the UK market and has proven to be a viable business owing to increasing weight concerns among the population. Metrao is a brand name that is made up of a wide range of calorie calculators. This can be attributed to the effective marketing strategies applied by the company. However, primarily in a highly competitive environment such as the personal care sector, it is important for Metrao to improve its marketing in addition to organizational approaches to meet the customers’ needs. Furthermore, Metrao faces increasing competition from other calorie calculators being sold in the market. Generally, this means that Metrao is obliged to differentiate its products from others in the market by being innovative and unique. In addition to, the calorie calculator market is growing showing that there are likely to be diverse consumer needs and expectations. Consequently, Metrao should utilize strategic marketing tools to get an actual picture of the level of competition in the market and the customers’ needs. A marketing strategy is a process that enables a company to focus its limited resources on the strategic opportunities to attain a sustainable competitive advantage and increase their sales volumes (West, Ford, and Ibrahim 57). A marketing strategy should be based on consumer satisfaction. A marketing strategy is made up of different aspects such as pricing, product development, promotion, distribution and relationship management. Further, it establishes the choice of marketing mix, positioning, target market segments and relationship management. Some of the strategies adopted by the company include the PESTLE and the SWOT analysis. Marketing Mix This primary marketing strategy adopted in the promotion of Metrao. Generally, four aspects in the 4Ps strategy include product, place, price and promotion. The first element of the marketing strategy is product (Schroeder 11). Product refers to the product or service being offered in the market. Metrao is a calorie calculator that enables people keep track of the calorie intake on their daily basis for healthy purposes. This device includes a database approximates the protein, calorie, fat and carbohydrate intake. In addition to, the device offers a recommendation of the appropriate diet for different users. The device is also used o approximate how many calories an individual can cut down on a daily basis. Consumers buy products based on their perceived value of it. For this reason, Metrao ensures product value for its consumers by ensuring consumer satisfaction. Price is the second aspect that greatly influences customers’ decision to buy give product or service. Furthermore, it the only aspect in the Marketing Mix that generates profits. However, the company resolved not to put a selling price on Metrao but opted to get profits from the product’s promotion. In other words, the company is undertakes promotional pricing to generate profits and compete with other players in the market (Robinson 78). However, the company intends to set a reasonable price once the consumers are fully aware of the existence of the product in the market. Promotion is the way in which information about a product is brought to the attention of the consumers. The company has a brand name and intends to raise its awareness using a wide range of advertising campaigns staged on offline and online marketing channels. The company also promotes its products on its website that was recently established to target the online market segment. The final aspect of the marketing mix is place and it relates to where a certain product can be purchases and how the buyers can easily access it. The product will be available in the company’s stores, the company’s website and other shops that sell health related products. The product will be sold in the UK and if it performs well, it will be introduced in other parts of the world. SWOT analysis The company uses the SWOT analysis to classify its strengths, weaknesses, reduction of risks and capitalization on any opportunities (Schroeder 7). To start with, there are numerous strengths associated with Metrao such as it offers an efficient way to keep track of one’s calorie intake. Secondly, the product is easily available in the market and at affordable prices. Metrao enables their users the ability to watch their weight and estimate how many calories they should reduce in their daily intake of different foods. Finally, the use of the product is endorsed by various health organizations in the UK. On the other hand, there are numerous weaknesses associated with the product in the UK. To start with, Metrao has low penetration, as the idea is relatively new. In addition to, only a minimal number of individuals are interested in keeping track of their daily calorie intake. There are numerous opportunities that are available the company and can be manipulated to boosts sales of the product. The UK population especially among the older generation is becoming increasingly conscious about their weight and health related issues. The company can exploit the growing concern of weight issues among adults and use it as a selling point for Metrao. The company should exploit the online market to sell the product to a larger customer base. Conversely, the product faces various threats from the market. First, the economic condition in the UK has adversely affected the disposable income and this poses a risk to the product. Second, the product faces competition from other players in the market (Jain and Griffith 123). PESTLE Analysis The PESTLE analysis is a marketing strategy that is used to evaluate the opportunities and challenges facing Metrao in the UK. This entails an analysis of the Political, Economical, Social, Technological, Legal and Environmental factors that are present in the market (Applegate and Johnsen 45). Political factors could have a huge impact on the performance of the product in the market. Government regulations on certification and technology affect the sale and distribution of the product. Economic factors in the environment affect the sales performance of the Metrao. Peoples’ incomes have drastically reduced in the past few years and this negatively affects the consumers’ purchasing power. Social factors entail the cultural aspects that influence the consumers’ purchasing decisions. People’ lifestyles have changed as they have become increasingly conscious about their weight. This means that the sale of Metrao could be promoted by the increased awareness of health and weight issues. Technological factors could have a huge impact on the sale of the product in the market. Modern technology is always changing and the company needs to stay abreast with these changes to compete with other products that are being produced in the market. Metrao is subject to numerous laws and regulations that are present the market. The legal environment is composed of health and safety standards, intellectual property rights and anti- trust laws must be observed at all times (Applegate and Johnsen 77). Finally, the company should consider all environmental factors in the sale and manufacture of the product. Market position involves all strategic decisions relating to sales and promotion of the product in the market. As earlier stated, the product will not be sold in the market at the beginning the company aims to generate profits from promotion of the product (West, Ford, and Ibrahim 63). The company has adopted various promotional techniques that reach the highest number of people. The company’s unique selling point is the increased consciousness about weight matters and the efficiency that the product offers in recording an individual’s calorie intake. Finally, the selling price of the product is relatively cheap as the company expects to recover profits from its promotional activities. In summary, the above discussion gives an in depth discussion market strategy, market positioning and marketing-mix adopted in introduction of Metrao in the UK market. The company cannot go wrong by adopting the above discussed marketing strategies. Works Cited Applegate, Edd and Johnsen, Art. Cases in Advertising and Marketing Management: Real Situations for Tomorrow's Managers. Rowman & Littlefield, 2007. Print. Jain, Subhash C. and Griffith, David A. Handbook of Research in International Marketing. Edward Elgar Publishing, 2011. Print. Robinson, Peter. Operations Management in the Travel Industry. CABI, 2009. Print. Schroeder, Andre. Entry Strategy for Carrefour for entry into the UK market. GRIN Verlag, 2012. Print. West, Douglas, Ford, John and Ibrahim, Essam. Strategic Marketing: Creating Competitive Advantage. Oxford University Press, 2010. Print. Read More