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Steelco - Marketing Analysis of Company Products - Research Paper Example

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This paper concerns the product analysis of Steelco. This is one of the two leading players in the wide flange steel industry, which has become a brand. The company produces a typical business-to-business product using standardized specifications in the industry…
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Steelco - Marketing Analysis of Company Products
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Download file to see previous pages The basic product of Steelco is the wide flange steel it offers to its customers. The expected value of the product lies in the special as well as extra support it would provide to the structures it helps in building in comparison with other similar products on the market. Given that wide flange, steel is at one end of the product spectrum in the light of its high level of tangibility, so the scope of making it an augmented or potential product is less (Klopper, et. al. 2006).
Tybout & Calkins (2005) has opined that points of parity or (POP) comprise those associations which are not one of its kind to the brand and that these points may be found in other brands as well.
On the other hand, Keller, Jacob, and Parameshwaran (2011) have been of the opinion that points of difference are attributes which consumers strongly associate with a particular brand and are even believe that the particular point cannot be found to the same level in any other brand.
The products offered by Steelco are standardized having specifications based on which these are sold in the market, thereby implying that the demand is specific and a marketer cannot come up with any product by dint of its innovation. Thus the points of parity are likely to be many and there remains hardly any scope to go beyond the said specifications of the product.
In this case, the points of difference are not likely to be much and therefore it is based on either the distribution network or the price of the product. It is given that the prices of the products of Steelco are very competitive since the market for these products is very price sensitive. Though the product offerings of Steelco are much more focused on the thickness of the wide flange steel that sells more in the market, USX, the main competitor has a wider range of products in this area. Thus the product strategy that may be part of the branding strategy has to be based on the quality added to the specifications that these competing products meet. ...Download file to see next pagesRead More
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