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Principle of marketing - Essay Example

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Summary
The food and beverages market is a highly competitive one, with the implication being that newcomers faced considerable challenges when trying to penetrate into the market. Indeed, as Steiner (2005) argues, both case studies and empirical evidence suggest that the key to success lies in the selection, not only of the most appropriate marketing strategy but one which is both cost-effective and feasible…
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Principle of marketing

Download file to see previous pages... Bearing these lessons in mind, the marketing strategies which shall be proposed for Shin Shii shall be founded upon the characteristics of the market in question and, proceeding from that, shall aim towards the maximization of effect within a reasonable budget.
In selecting its marketing strategy for entry into the U.S. market, it is necessary to consider both the threats and opportunities which shall confront Shin Shii. Based on observations of the US beverages market, marketing and market research scholars have determined that the primary threats confronting both existing companies and new entrants are over-saturation and an increasingly health-conscious consumer-base (Swot,'2005). In other words, not only is competition extremely intense and dominated by a handful of major food and beverages companies but, health concerns are functioning as a threat to the maintenance of the existent market, let alone its expansion.
While market research scholars have identified a number of serious threats confronting the food and beverages' market, they have also identified a number of attractive opportunities, especially pertinent to the case of Shin Shii. In the first place, while the beverages' market may be oversaturated, the U.S. consumer market is a highly experimental one by nature and is attracted to novelty (Swot,' 2005). In other words, it exhibits a persistent and unfailing tendency to test the new. In the second place, the trend towards health consciousness implies that while the soda market may be sealed off for the present, there is a market for beverages which are considered healthy or, at least, benign, in that they neither have negative nor positive health effects. Consequently, on the basis of the identified opportunities, it is quite possible to conclude that as saturated as the beverages market may be, the trend towards health consciousness and the experimental nature of the market, there is a place for Shin Shii. It is producing a healthy beverage and it is, within the matrix of the U.S. consumer market, new.
Having determined, on the basis of an analysis of both the opportunities and the threats confronting the U.S. beverages' market, that there is a place for Shin Shii, the question to be asked at this point concerns the marketing strategy which would most likely allow the exploitation of the identified opportunities.
Undifferentiated marketing is the optimal strategy insofar as the entry of Shin Shii into the U.S. market is concerned. According to Maoz and Tybout (2002), within the food and beverages' market, as with others, there is hardly a difference between the different segments therein consequent to the fact that the product in question, by its very nature, possesses universal appeal. Such products are not age-discriminatory in that they do not appeal to a particular age group but not another, as tends to be the case with alcohol, soda and energy drink. Likewise, tending to be very reasonably priced, they are affordable to all and, hence, do not discriminate between the various income groups. Insofar as products of this nature are concerned, the deployment of undifferentiated marketing strategies tends to be the optimal and most effective choice. Differentiated marketing, defined as "a market-coverage strategy in which a firm decides to ignore market ...Download file to see next pagesRead More
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