MARKETING STRATEGIES FOR SUCCESS

MARKETINGSTRATEGIES FOR SUCCESS

Inorder to achieve ultimate success, a company ought to adopt andachieve an effective marketing strategy. Failure to such will makethe company lose its market share to its competitors and may end upshutting down its operations. A case study of BabyBoo, a diapermanufacturing company, reveals a downward trend in its product sales.It had been losing market share and receiving negative reviews fromits remaining consumers and this has threatened its futureoperations. This led to the Chief Executive Officer to subcontract myservices in order to aid it regain its once robust market sharepresence. The company seeks to target the average professional womanwho has just recently gotten a child and was looking for a moresuitable way of effectively keeping their children hygienic andcomfortable throughout the day using diapers.

Accordingto Parker and Wang (2013), statistics of women increasingly adoptinga professional lifestyle has significantly increased over time. Thenumbers of women opting for full time employment rose to 32% in 2013up from the previous 20% in 2007. This then forms the thought whendevising a product that will not only cater for the children’sneeds but also be sensitive to the changing trends of everyday women.According to Bernice Kanner (2004), women form the bulk of anyproduct market success. To her, any product that manages to appeal tothe woman and pay keen attention to her needs will ultimately enjoysuccess in the long run.

InTouch with the Everyday Needs

Johnsonand Learned (2004) explains the anchors with which strict adherenceshould be employed whenever marketing to women. The products have tobe: visible, transparent and hybrid. Visibility generally entailshaving a product that generally appeals to the professional woman.That is, the needs have to be specifically addressed by the product.In this case, BabyBoo did not base its products around convenience.The diapers ought to have a flexible, easy, and fast baby changeafter the ‘du du’. This will therefore be interpreted by thewoman as being very convenient and they will generally adopt it.BabyBoo has to create innovative ways of coming up with a moreconvenient diaper that will be most appealing to the women.

Thesecond aspect of Transparency revolves mainly around style. Style toa professional woman is everything. What she requires is an appealingdiaper that will not detach her from her mommy responsibilities butwill also distinguish her from the rest of the other women. Thisshould be a plus to BabyBoo once they innovate a diaper that willhave a formality aspect to it. It will be easily identifiable andhence should be adopted by these women.

Finally,the hybrid aspect has to revolve around the special feeling of greatconnection of what the professional woman has to go through. Theproducts have to be centered probably on the slogan- designed for youbecause we respect your self-growth. A product that will beempathetic to the woman’s needs will enjoy tremendous success.(Marco, 2010).

BuildingRelationships

However,the BabyBoo Company ought to acknowledge that it will face toughchallenges from its competitors. Therefore it should aim at strivingto devise new strategies to bolster its competitive advantage andensure its overall business success (Bharadwaj, 1993). A good way todo or achieve this will be by nurturing and fostering relationshipmarketing with its consumers. This will ensure desired consumerloyalty and ultimately its continuity in the long term. There arethree characteristics of relationship marketing and they revolvearound: variability, complexity and involvement (Berry, 1995).

Thefirst level of variability generally involves issuing priceincentives such as discounts. The law of demand and supply ought toapply after such incentives and the company will start recordinghigher sales as anticipated as most consumers will be buying more ofthe product so as to take advantage of the incentive. This will alsofoster customer loyalty to the brand. The second level centers oncreating social bonds among consumers. This may include the Companypartaking in social initiatives such as provision of certain servicesor products to the community. This is a way of giving back to itsconsumers and this will go a long way at improving how the generalpublic perceives the Company.

Finally,the third level of relationship marketing will involve the companysetting up support services to respond more on the requests and theneeds of its customers. These structural changes will enable thecompany foster a bond between itself and its consumers which willcontribute to its longevity and market dominance.

SWOTAnalysis

Afterall conditions are met, the company ought to carry out a SWOTanalysis to measure up if it has lived up to the expectations of itsbeforehand set targets or whether it is still lagging behind in termsof its progress.

Strengths:The Company has to measure up if it has indeed achieved its targetset on: quality innovation, product appeal, product usability,product comfort, time saving innovations and that it has been able totap into the potential brought about by the broad spectrum ofconsumers.

Weaknesses:The Company should identify more on the shortcomings that hinder itssuccess and apply corrective measures to them.

Opportunities:The Company should identify whether it is maximizing on itsopportunities and if not, it should apply additional reactionarymeasures to achieve its target successes.

Threats:The Company has to employ a strategy of identifying and dealing withsome of the threats it may have to grapple with in the future. Thismay include the ever changing trends which the company ought to adoptway ahead of its competitors.

Conclusion

Oncecorrective marketing strategies are carried out on BabyBoo Company,it ought to start to show gradual and steady improvement until itachieves its dominance in the market once again. This will thereforetranslate into the longevity of the Company.

References

Johnson,L. and Learned, A. (2004). Don’t Think Pink. New York: AmericanManagement

Association.

Kanner,B. (2004).Pocketbook Power.New York: McGraw-Hill

Berry,Leonard L. (1995). ‘Relationship Marketing of Services – GrowingInterest, Emerging

Perspectives’.Journal of the Academy of Marketing Science,23(4), 236-245.

Bharadwaj,S.G., Rajan V.P., and John F. (1993). ‘Sustainable CompetitiveAdvantage in

ServiceIndustries: A Conceptual Mode land research propositions’. Journalof

Marketing,57 (Oct), 83-99.

Marco,S.T. (2010). “Marketing to the Female Brain.” NeuroFocus.Retrieved from:

www.brc.ca/femalebrain