The process of this concept is explained in below diagram; For Norris’s cookies to still on the same ledger of competition with all the competitors and trends, they need to formulate this process and implying them In everyday business or before any business marketing decision Is being made. First, let’s go through the first process of all, Situation Analysis. Norris’s cookies should first define the situation of current trend and market. They should know how is the market behavior nowadays. They need to understand it completely from inside out.
There have a lot of ways to run the situation analysis such as, C analysis Company, Costumer, Competitors, collaborators, climate) or SOOT Analysis (Strength, weakness, opportunity and threat). If the situation analysis reveals gap between what consumer want and what Is currently offered to them, then there may be opportunities to Introduce products to better satisfy those costumer. Take for an example, this Is the SOOT analysis of Caduceus which Is written by Sundae K. Chapin for Misunderstanding. Com. SOOT analysis of Caduceus Strength 1 .
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Catbird is a company, which is reputed internationally as the topmost chocolate provider in the world. 2. The brand is well known to people & they can easily identify it from others. 3. Catbird the world leaders In chocolate, Is a well-known force in marketing and distribution. 4. Users have a positive perception about the qualities of the brand. India. 6. By using popular models like Cyrus Brooch, Pretty Zinnia and others Caduceus has managed to portray a young and sporty image, which has resulted in converting buyers of other brands to become its staunch loyalists. 7. Catbird has well adjusted itself to Indian custom. . It has properly repositioned itself in India whenever required I. E. From children to adults, togetherness bar to energize bar for young ones etc. Weaknesses 1. There is lack of penetration in the rural market where people tend to dismiss it as a high end product. It is mainly found in urban and semi-urban areas. 2. It has been relatively high priced brand, which is turning the price conscious customer away. 3. People avoid having their chocolate thinking about the egg ingredients. Opportunities 1 . The chocolate market has seen one of the greatest increases in the recent times (almost @ 30%) 2.
There is a lot of potential for growth and a huge population who do not eat housecoats even today that can be converted as new users. Threat 1 . There exists no brand loyalty in the chocolate market and consumers frequently shift their brands. 2. New brands are coming and existing brands are introducing new variants to add up to an already overcrowded market. Http://www. Misunderstanding. Com/forums/marketing-management-arm-IM/ 201618-soot-analysis-catbird. HTML From the situation analysis, we can come o our second process which is Marketing 2. Targeting 3.
Positioning 4. Value proposition to the target market. Market segmentation can be defined as the identification of portions of the markets hat are different from one another. Segmentation allows the firm to better satisfy the need of its potential costumers. (citation) Why did Norris’s cookies need this segmentation ? Here’s why, costumer are not all alike. They are different in every way. The place they stay, how they live, their race, religion, their family, their education, genders and even generation (example: Baby boomers, Generation Y, Generation X). O if Norris’s cookies want to tackle the market, they have to learn this differentiation and segment their marketing based on this 1 . Geography. 2. Demography. 3. Cacography. Geography is easy to identify. As for Malaysia market, Norris’s cookies need to identify which product is to sell in which area. They have to know what is the consumer in that area really want. Take for example, they want to promote their frozen food. Norris’s cookies should be more focusing on urban area. Area which people didn’t have enough time to prepare the food themselves.
So the citizens need only buy the frozen food and cook it at home. For another example, let’s take KEF as our reference. They always try to come out with new ideas to keep costumer consuming their products. Thing is, they really taking this segmentation in sight. Why ? Because, they always come out with the product which can fulfilled the need of their costumer in certain area. Example, KEF launch “Tom Yam” flavored fried chicken in Thailand because Thailand people love “Tom Yam” so much ! (citation needed) Let’s move on to demographical segmentation.
This segmentation is tougher than geographical segmentation. Norris’s cookies should take into account of a detailed statistic of what is actually the people wants. Each person needs is different from one another. Take for example, gender. One of Norris’s cookies product is premixed spices. So, Norris’s cookies should market the product to an appropriate gender. Market the product to women because mostly, only women who need the premixed spice product. For the better picture of demographical segmentation, let’s take another example. Say, Mercedes Benz. They made car for luxurious social class people.
While proton in the other hand, make a car to try to fulfill the needs of not very luxurious social class people. Next is cryptographic segmentation. Also called as behavioral segmentation. This type of segmentation divides the market into groups according to customers’ lifestyles. It considers a number of potential influences on buying behavior, including the attitudes, expectations and activities of consumers. If these are known, then products and marketing campaigns by Norris’s cookies can be customized so that they appeal more specifically to customer motivations. Let’s take one example.
Let say Norris’s cookies has studied on their consumer annual occasion which is what Norris’s cookies always does on their cookies product, they occasion is divalent, which is celebrated by Hindu, which consume a lot of premixed piece for curry and Dhal, this is the time for Norris’s cookies to change the marketing campaign to premixed spice promotion. For another example, on cryptographic segmentation, usage of consumer. It can be divided into heavy user, medium user and light user. Hotlist communication see this segment and market their internet plan based on this category.
Hotlist communication offer a different internet plan for different user. Image below will show the correct example. If the user is light user, they can buy data plan for only ARMS. While for heavy internet user, they can buy ARM 68 worth of data plan. Citation needed) Target marketing tailors a marketing mix for one or more segments identified by market segmentation. Target marketing contrasts with mass marketing, which offer a single product to entire market. Norris’s cookies should be looking into this aspect more. They should be more focus on one segment to market their product.
For example when Norris’s cookies want market their daily biscuits, and only biscuits, they need to focus on demographic segmentation. Separate the product based on age of consumer. Should have like biscuits for children, for student, teenager and also old citizen. Create a different flavor for each and every stage of consumer. Teenagers are more likely to be attracted to chocolate and strawberry, so, Norris’s cookies should create a daily biscuits that based on this flavor. And the pricing should be suitable with the age. Mostly teenagers are still depending and parents money and it is limited for them.
So, instead of marketing the biscuits with normal price which is quite price for them (RMI 2. 00 – ARMS. O), Norris’s cookies should market the biscuits for like ARM 4 – ARM 5 depending on the cost of production. It maybe not only will attract teenagers to buy it, it might attract other stage of age to ay the product because of its price. (citation needed) Positioning is developing a product and brand image in the minds of consumers. It can also include improving a customer’s perception about the experience they will have if they choose to purchase your product or service.
The business can positively influence the perceptions of its chosen customer base through strategic promotional activities and by carefully defining your business’ marketing mix. Effective positioning involves a good understanding of competing products and the benefits that are sought by your target market. It also requires you to identify a differential advantage with which it will deliver the required benefits to the market effectively against the competition. Business should aim to define themselves in the eyes of their customers in regards to their competition.
For Norris’s cookies brand to be remembered by costumer. Like when we say MAC, costumer already what is it stands for (McDonald). They will automatically pictured the image of burger, the yellow suited clown, the M letter and many others which lead to the name of MAC. (citation needed) What Norris’s cookies should do is, implement the name of Norris’s cookies to the costumer. Norris’s cookies can tackle this aspect by focusing on the ups. 1 . Product 2. Price 3. Promotion 4. Place Product Norris’s cookies should guarantee the quality of their product is much better than other completion.
What is making Norris’s cookies specials? What is the unique feature of their product? They should know this to conquer the costumer mind. Maybe if Norris’s cookies have something that currently not offered by their competitor (or currently offered by their competitors but Norris’s cookies can make something better) like the taste are much more delicious than the competitor or extra ream on the cookies, Norris’s can successfully implement the greatness of their product which automatically live the name on consumer mind. The name of the product also playing an important role here.
The name should be something catchy and easy to remember. Because the product will carry this name to consumer mind to remember. For example, Kiss cookies by Norris’s. When people mention the name of kiss cookies, people will imagined the taste and the product itself. Kiss cookies is one of the name picking success by Norris’s cookies. For example, why is McDonald Big Mac burger is so popular? While Ramey burger not so much? Because, McDonald has implement the idea of their product is so much better than the other burger because of their special recipe sauce and their patty is made from 100% meat.
People will actually believe that and set their mind that McDonald burger is much better than the Ramey because of the patty and the secret sauce. They offer something that Ramey as their competitor not currently offer. Price Pricing is one of the most important decisions made by any business organization. Economists use the term market clearing price to identify a price at which sellers are repaper to sell because they feel they are getting a fair price, and buyers are prepared to buy because they feel they are getting value for money.
If prices are too high or too low the market will fail to clear. Positioning Norris’s cookies product via pricing is also effective. Norris’s cookies has done a very good Job on pricing which Norris’s new lined product called “Goodness” was sold on internet for only ARM. 20 including other of their product. It available at Nail Muslim Shop. (http://multimillionaires. Bloodspot. Com/2012/11 /moraine- cookies. HTML) Norris’s cookies should and need to successfully enter their costumer Promotion covers all the tools and techniques by which an organization markets its products and services.