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Various marketing strategies - Case Study Example

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A gist of above discussion could be that a low-cost strategy can work well over a differentiation strategy when buyers are more or less satisfied with a standard product and do not see extra product attributes as worth paying additional premium…
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Various marketing strategies
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Download file to see previous pages This process starts with a Futuristic Environmental Scan and defines the ideal vision in terms of mission, values and end outcomes that the organization wishes to set for itself. Only after the statement of such Ideal Future a Current State assessment based on SWOT(Strengths, Weaknesses, Opportunities and Threats) is taken up to identify the gaps and make marketing strategies to close the gap(s).As a result of subscriber clients adopting this model it was found that clients began developing competitive edge and the organization was much clearer on what their competitive "positioning" in market place was and found themselves moving positively in that direction, to the delight of their customers(Haines,2004).Thus this process leans directly into the process of competitive marketing strategy making as it includes environmental scan both-present and future and enables movement in the desired direction.
Types of Competitive Marketing Strategies
The generic competitive marketing strategies and their standard objectives have abounded in literature and often include the following:
(a) Overall Low-Cost Leadership Marketing Strategy:
Its primary object is to find a sustainable cost advantage over rivals, using lower-cost edge as a basis either to under-price rivals and reap market share gains or earn higher profit margin by selling at going price.
(b) Broad Differentiation Marketing Strategy:
Its primary objective is to incorporate differentiating features that cause buyers to prefer firm's product or service over rival brands. Looking on the obverse side it implies that an organization must...
"The airline industry is, by its very nature, a service industry. In a free market, the success or failure of an individual airline is largely dictated by the quality of the service it provides" (Harvard Business School, 1989).Its differentiation strategy began with the immense popularity of The Singapore Girl marketing icon. This icon evoked an awareness of warm Asian hospitality and courtesy's backed this up with its very efficient service standards and already had a winning combination on hand. However it ventured into a fairly elaborate differentiation strategy to address the changed needs of new clientele. This differentiation took the form of:
- the introduction of gourmet cuisine in-flight dining with vastly improved servings for economy class passengers as well,
- hiring top of the line culinary experts' panel to train chefs and execute quality checks with a future vision to make its in-flight food an industry benchmark,
- multi million dollar cabin revamp with first-class cabins coming with an ambience of a mini-suite in a luxurious hotel and details covering the entire distance from custom-built seats to cashmere blankets,
- launch of its Frequent Flyer Programme(FFP), KrisFlyer,
- as the bulk of SIA clientele are non-Singaporeans specific trainings were organized for SIA crews to enable them to be conversant with and make announcements in the languages of the countries to which they flew. ...Download file to see next pagesRead More
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