Discuss about the Marketing Strategies and Techniques for Fred Hollow.
Part A: The non-profit organization is known as Fred Hollow foundation which raises funds for kind initiatives. ‘It works based on strategic relationships with corporate world to raise funds to support sight initiatives and changing lives of communities’ (Andaleeb 2016, p.180). Fred Hollow foundation do not seek to make profit but they aim to remain sustainable in the long run. Sustainability is enhanced by applying a cause related marketing concept used to capture a larger audience by creating awareness. ‘It is a marketing concept where organizations through partnership look for a good cause through their market image to benefit mutually’ (Hollensen, 2015 p.45). The marketing concept can be proven through the Fred Hollow website where descriptions of the products and services offered by the corporate partners is given. Customers will continue buying products from their companies knowing that their monies are heading towards a good cause.
Part B: Lack of information on products with more information on surfing, skiing and skating industries has helped Billabong to build relationship with targeted customers. The marketing strategy employed seeks to develop a solid relationship by providing them with direct information that caters their interest and needs. ‘The market strategy seeks to focus creating symbiotic relationship with its customers by promoting company loyalty and enhancing communication’ (Hollensen, 2015 p.67). The customers are provided with platform where they can give opinions and suggestions on new trends provided in choreographic websites. For those in skiing industry the method is effective in creating better relationship.
In its latest news ‘Nestle’ Australia is focusing on product specialization on its main products. The products that the company focuses to promote and market globally are its coffee brand and children related products. The focus will be creating strategic relationship with other marketing agents located across the world. The strategic marketing is better strategy in increasing market share and reduction of costs. The aim is to provide healthy nutritional products for the market segments of new born babies and children of different ages. The company is also facing challenges of clarifying on its products ingredients through the ‘antigen’ campaign. The business sold its ice cream business and Mulgrave factory to pacific Equity partners. ‘The selling of the different business is proving the company commitment in focusing on specialization of its main products’ (Schlegelmilch 2016, p.86).
The peter’s page it has introduced PROUD & PUNCH a tasty treat ice cream the product was develop to add from other portfolio of products inherited from parent company ‘Nestle’. The product contains fresh ingredients that taste better with a lot of flair for Australian communities. The product developed is aimed to be promoted to families and friends setting trips to beaches during the hot summer, the aim to promote consumption of the brand during the summer heat period. The use of promotion strategy can be successful because the ice cream brands is already established through its parent organization, and the marketing timing for the product in terms of climatic conditions is appropriate.
The distribution of the income in Northern territory or New Zealand’s North Island can be measured using median household income. The median is a common methodology used to measure the propensity of income distribution in different geographical locations among households. The method divides the different households into two: those with more than the medium household income and others with below the median household income. The median household income is obtained by dividing aggregate demand with the number of population in the geographical location. It can be classified using percentiles those above 90 percentiles and below the 10 percentiles representing higher income earners and low income earners respectively. The household income depends on disposable incomes that are what is available for households to consume in normal household activities. ‘The household disposable is obtained by removing taxes and savings from what the working earnings’ (Ryan 2016, p.25).
The distribution of income is determined by dependency syndrome. If the persons who are below the medium class depend on each other on several social amenities then the locality income is low. Those with higher income in given location will not be depending on each other on the normal social amenities that prove a high income in those geographical areas. The median household income and mandatory taxes are good indicators of the existing standard of living. ‘The people sharing household and income earners prove distinctively income distribution across several geographical locations’ (Chari, Katsikeas, Balabanis & Robson 2014, 146).:
The three FMCG companies are Unilever, P&G and Nestle; they employ different market segmentation and mass approach. There ranking was based on suitability of the segmentation to wide market. Nestle company is ranked number one it employs two segmentation strategy. It uses geographic segmentation for its Nescafe ice which depends on market weather conditions either to sell when cold or cold. It utilizes demographic segmentation in classifying the two markets into new born babies and children of other ages. The products are differentiated according to the two types of segments. The recommendation is that the company needs to focus in future to a comprehensive market type of segmentation that covers the third segment of the adult.
Unilever is a consumer manufacturing company for products is ranked number two. The company employs target mass market segmentation to capture a wider larger global audience. ‘The target mass segmenting employed is focused at providing a healthy and cautious product to different customers’ (Armstrong, Kotler, Harker, & Brennan 2015, p34). The recommendation to Unilever is that for future effectiveness they need to focus on demographic segmentation segmenting customers to specific targets of age, gender etc. The third ranking is Procter and Gamble (P & G) it employs target market segmentation focusing on quality and cautious customers. It covers middle and elite class customers. The recommendation to P& G is that method of segmenting is not effective it need to focus on psychographic segmentation to capture customer behavior characteristics (Chiu, Tzeng & Li 2014, 235).
‘There have been worldwide geographical trends which have affected international marketing over the last two centuries’ (Ryan 2016, p.45). ‘Different countries are experiencing aging processes and continue facing the ageing process due to drastic demographic transition’ (Appiah-Adu & Amoako 2016, p.23). The aging is resulting from their products and services being overtaken by changing market patterns. There have been increase in working age population and reduced demographic transitions in other countries. Example of demographic trends affecting international marketing include: supply, demand and external trends. Demand trend originate from the rising number of new customers surging every year creating demand of goods and services. The supply trends emerges from new additional costs involved in production process, while external trend addresses on legislation, agreements and concessions affecting business operations. Both three trends affect geographical dynamics in which marketing professionals need to plan in order to formulate marketing strategies.
The rising number of population has created a baby boom generation in which several businesses are focusing to benefit from. The baby boom originate from more demand created from new customers emerging and changing pattern of customer preferences and tastes. Those businesses with creative business and marketing strategies that provide home needs products and services are set to benefit from the baby boom generation. They need to carryout market research in order to come up with innovative products that focus on the future. The strategy is to come up with the right and suitable product and service when the new customers emerge.
Andaleed, S 2016, Market targeting, segmentation and positioning, Strategic marketing in Asia: lessons across industries and case studies, (pp.179-207), Emerald Group publishing ltd.
Appiah-Adu, K and Amoako, G 2016, marketing execution strategies in developing economies: case studies of selected leaders in the market, African journal of management studies and economic, 7(1), p.9-29.
Armstrong, G., Kotler, P., Harker, M and Brennan, R 2015, Introduction to marketing, Pearson Education.
Chari, S., Katsikeas, C., Balabanis, G., and Robson, M 2014, Emergent marketing performance and strategies: Effects of market uncertainty and strategic feedback systems, British journal of management, 25 (2), p.145-165.
Chiu, W., Tzeng, H and Li, H 2014, developing e-store marketing strategies using a new hybrid gray relational model to satisfy customer needs, international journal of decision making and information technology, 13 (02), p.231-261.
Hollensen, S 2015, marketing management: relational approach, Pearson Education.
Ryan, D 2016, a digital marketing understanding: marketing strategies in digital generation, Kogan page publishers.
Schlegelmilch, B 2016, Target segment and positioning in the global market, global marketing strategy, (pp. 63-82), Springer international publishing.