“Marketing strategy
can be defined in terms of the product and customer focus of the company.” (Smith, 2008) There are two
dimensions in marketing strategy product and customer focus. Four different
types of strategy a organization can use, innovation strategy, generic strategy
framework, growth strategy and market dominance strategy. Depending on the goal
the organization aims to achieve the strategy has to be selected accordingly.
Another important aspect of marketing strategy is the size, structure and
behavior of the target market, the marketing mix over time, planned price and
distribution over one year.
Development concerns with the prototype, manufacturing feasibility and final
government approvals if needed. (Kotler
and Armstrong, 1991) Therefore
depending on the new format what will the organization have to develop
(equipment and space). PLC sales will help to determine the frequency of
purchase for the new formant. Things that need to be considered are is it
one-off or multiple, how frequently do you expect target group to participate,
working population what about during day, arrange sales at times of day or week.
This part of NPD is related to
numbers and finance. Therefore it is important to remember that price is
sensitive to different people.
iGolf technologies is an application for a mobile device.
The target market were all golfers who owned a GPS operating mobile phone. The
market size was approximately 3.58million. (Igolf.com, 2014) This number was expected to increase by
increasing factors such as golf’s popularity and GPS technology improvements.
iGolf’s market share increased by maintaining their competitive advantage,
which was achieved by producing high quality products. Market research to
determine the price was looking at the competitor’s price, which averaged to
$25,
therefore they made iGolf cost $50. (Igolf.com, 2014) Hence, iGolf aimed
to position itself as a premium product. The promotion was through their
webpage, co-branding, social media and newsletters. The sales promotion for
iGolf was by offering potential customers free trial version.
Polf ‘s target market consists of golf (7% of UK
population) and pool (7% of UK population). Which would mean that the approximate market
size would be about 5%. Polf will gain its comparative advantage by providing
high quality at a low price. As the demand increases, price will increase.
Social media, newsletters and free trial events could achieve the increase in
demand. Since a venue will be needed price will increase depending on the rent
of venue. It is very important to consider how frequently the target market
would participate. Since the working population is less play Polf during the
day arrangements could be made to introduce this sport at the grass roots.
Therefore the prices should be different for children. Also to increase
participation there should be one hour where the prices are lower for all players. Causing Polf to be a frequent activity. A
prototype of one Polf table in appendix A.
Appendix
A.
References:
Bgia.org.uk,
(2014). ADULT UK GOLF PARTICIPATION HOVERS AROUND 4,000,000. [online]
Available at:
http://www.bgia.org.uk/industry-news/adult-uk-golf-participation-hovers-around-4000000
[Accessed 3 Dec. 2014].
Blakey,
P. (2011). Sport Marketing. Exeter: Learning Matters.
Igolf.com,
(2014). iGolf.com: The #1 Golf GPS Database. [online] Available at:
https://www.igolf.com/#ft_companyInfo [Accessed 3 Dec. 2014].
Jones,
H. (2011). Adult participation in sport. 1st ed. [ebook] Lancashire.
Available at:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/137986/tp-adult-participation-sport-analysis.pdf
[Accessed 3 Dec. 2014].
Kotler,
P. and Armstrong, G. (1991). Principles of marketing. Englewood Cliffs,
N.J.: Prentice Hall.
Kotler,
P. and Armstrong, G. (1991). Principles of marketing. Englewood Cliffs,
N.J.: Prentice Hall.
Ormiston,
R. (2014). UK League Snooker Community & Forum. [online]
Leaguesnooker.co.uk. Available at: http://www.leaguesnooker.co.uk [Accessed 3
Dec. 2014].
Smith, A. (2008). Introduction
to sport marketing. Amsterdam: Elsevier Butterworth-Heinemann.
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