Wednesday, November 20, 2019

Successful Marketing Case Study Example | Topics and Well Written Essays - 1500 words

Successful Marketing - Case Study Example Whatever, Anything, a local Singaporean beverages product manufactured by Out of the Box Pte., has successfully met the challenges of the prospect of intense competition and has successfully penetrated into this seemingly closed market. Even though the market situation, as outlined above, communicates the impression of the beverages' market as a closed one, this is not entirely true. The key is marketing. Maoz and Tybout (2002) contend that a well-design marketing campaign is based on the accurate identification of the product's most likely consumer segment and speaks to potential consumers in their language, addressing their needs and even personality traits/quirks, A marketing campaign which subscribes to the principles of advertising and communication excellence will facilitate a new form/product's successful entry into an otherwise closed and highly competitive market. But what is excellence in marketing, communications and advertising According to Hastings and Saren (2003), the theory of excellence in marketing is predicated on the principles of social marketing and interpersonal communication or, at least, the impression of it. In order to give the impression of interpersonal communication with consumers and, as such, garner their loyalty to the product, it is imperative that both the nature of the product meet consumer expectations and demands and the campaign in question combine between public relations and social marketing (Hastings and Soren, 2003). Expounding upon the characteristics of successful campaigns, Barlow-Hills and Soren (2003) begin with the concepts of product choice and innovation. The product must address a market need or aspiration and, within the context of highly competitive markets, be innovative enough to attract consumer attention. While the fulfillment of this first requirement invaluably contributes to the market success of a product, success is ultimately predicated on the marketing and communications campaign which introduces the product to consumer and incites an interest in it, and desire for its possession. Such a campaign, according to Barlow-Hills and Soren (2003) is characterized by innovativeness, on the one hand, and the exploitation of the language and the lifestyles of its targeted consumer market segment, on the other. Whatever, Anything fulfils the two requirements for success outlined in the preceding. The product, per se, may not be innovative since, as already mentioned, the beverages market is practically saturated with drinks to suit all tastes and age groups. Anything is a group of carbonated and Whatever a group of non-carbonated cold drinks. In other words, the product is not new in itself and hardly offers consumers something which is not already present in the market. What is new is the concept behind the product. Both Whatever and Anything come in six different flavors each but are packaged in generic cans with non-identifiers. Accordingly, the customer does not know which flavor he/she will receive, bringing the element of surprise into the equation. in other words, even though the product is not innovative, its manufactures, Out of the Box Pte., imposed innovation upon it through its packaging. It is, thus, that the first requirement for successful marketing was satisfied - product in novation. The

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.