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Marketing Strategy
2011 Question PaperGaurav Yadnik
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Q2. Process of creating a competitive advantagein marketing a
health drink?Explain usingsuitable example?
1. Think out of competitive box : Do somrthingdifferent which
can gain competitiveadvantage over others
Eg- Horlicks introduced itself as Familynourisher for entire
family when thecompetitors focused on health drinkstargeting only
children
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2. New ways of getting into market : Eg-Horlicks entered the
rural markets before
its competitorsAlso it targeted women health and nourisher
fortoddlers age 2-5 by launch of Juniour horlicks
3. Evolving brand positioning: It is necessary to change the
brand image with
the changing needs of consumers
Eg-Horlicks evolved itself as Family nourisherand came into
different flavours which gave itimage of tasty faamily
nourisher
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4. Understand and manage key relationship:
It is necessary to build relation with customersas well as
retailors Eg-
Horlicks came up with Horlicks Wizkid
talenthunt competition which helped to to associateand build
relation with customers
It also organises various health seminars tocreate awareness
about womens health
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Q.3 What is STPD?How is it helpful in devising an
effectivestrategy?Explain with the help of hair care industry.
Segmentation : Grouping people within groups which are
homogenous within and
heterogeneous between groups Division of groups with similar
needs Focus on Customer needs rather than geography, demographics
etc Eg- Variants of types of products to be launchedas per needs
of
customers1.Dry Hair2.Oily hair3.Damaged hair Can also be divided
into segment who want hair care product for
nourishment of hair or smooth or shiny hair Divide according to
needs of users
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Targeting: Identify groups of customers who are willing
to purchase specific goods or service Some target mass market
while some target
niche market who prefer exclusive goods Eg- Sunsilk shampoo
targets market for soft,silky
smooth and shiny hair
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Positioning and Differentiation: Process of designing product
features that deliver
on desired consumers benefit Position is platform for an brand
It fixes the locus of product features in minds of
target consumer Differentiation is the key to gain
competitive
advantage .it differentiates the brands image inminds of
customers
Eg-In hair care shampoos differentiate on thespecial ingredient
having specific advanntage tocustomers
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Q4. What is new product strategy?Why is it very important to
develop new product category?Discribe the different types of new
product.
New Product Strategy
Definition: A set of operations which relate to:
Productimprovement. Product imitation. Product innovation.
Objectives: To meet new needs and to sustain competitive
pressures .
Expected Results: a. Increased market share and
profitability.
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New Product Development Process
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Importance to develop new productstrategy
Customer needs change frequently To transform market opportunity
into product
available for sale. Most industry leaders see new product
development as a proactive process. reduce risk and increase
confidence in the
pricing and marketing decisions to be made.
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Types of new product
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Q.5 What are different approaches to pricing incompetitive
market scenario? Describe with examples.
Cost Plus Pricing Competition-based pricing
Value based pricing Nine Price Quality Strategy
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Cost Plus Pricing
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Competition-Based Strategy
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Value-Based Pricing
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Q.5 Explain the 5 steps used in GE matrix for analyzing market
attractivenessvis--vis business strengh of an organization.
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Dimensions
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