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Product And Marketing Of Metabical

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Question:

Discuss about the Product and Marketing Of Metabical.
 
 

Answer:

Metabical is a well-known brand that has produced a revolutionary weight-loss drug. The company has been able to create a niche in the market with its focus on product. The company has been able to develop unique product that is difficult to imitate. The primary target audience for the company overweight females. The company also target male customers who are obese. However, the prime target audience for the organizations is the overweight female customers in the age group of 25 to 65 years. The decision making process in the organization in terms of target audience is driven by the senior leadership team. The senior leadership team in consultation with the marketing team has defined the target audience. The organization, ‘Metabical’ operates in a niche market and the organization realizes the importance of Segmentation, Targeting and Positioning. There are various ways or variables to segment the market. Some organizations would segment the market on the basis of demographic and some organizations would segment the market on the basis of income level of consumers. Metabical has primarily used the three key variables to segment the market. The first variable is the demographic profile of people. The company wants to target the female people who are in the age group of 35 to 65 years. The second variable of segmentation is the income status. The company realizes that not all the consumers would be able to afford the products (Cross & Belich, 2015). Therefore, the company has segmented the market on the basis of income level and it want to target the people with the income between $30,000 and $50,000. The third and the most important segmentation variable for organization is the behavioral variable. The company wants to target the people who are conscious about their weight and wants to reduce the weight. The segmentation on the basis of behavioral aspect has enabled the organization to reach the specific target audience that want to lose 10 to 30 pounds.

It can be said that the company has been able to create a unique position in the market. This has been possible with its continuous focus in research and development for product development. It is suggested that the company should continue to use the same strategy of unique product development to maintain its differential position in the market (Kim & Kumar, 2012). The advantage with strategy is that the competitors would not be able to copy the product and hence Metabical would be able to maintain its leadership position in the market.

Once the segmentation and targeting strategy is devised the nest step is to develop the positioning strategy. It is recommended that the organization should have the positioning of product advantage. The consumers should be able to associate Metabical with unique and beneficial products. As far as the communication strategy is considered, it is recommended that Metabical should heavily focus on social media as part of their communication strategy (Kerzner, 2013). The management should realize the fact that its target audience is heavily active on the social media networks like FB and Twitter. Therefore, it would make sense for the organizations to target the audience on social media platforms (Muller & Humm, 2014). It is recommended that the organization should slightly change its proposed budget for Integrated Media Communication. The change in the budget should be observed under the digital marketing (Ramsaran-Fowdar, 2013). It is recommended that the organization should increase its focus on digital marketing. In fact, within digital marketing the company should spend the most of budget towards FB marketing followed by mobile advertisements. The 12 months timeline for the communication strategy can be shown as:

M1

M2

M3

M4

M5

M6

M7

M8

M9

M10

M11

M12

Initial Assessment

 

 

 

 

 

 

 

 

 

 

 

Framework Development

 

 

 

 

 

 

 

 

 

 

 

Establish Marketing Objectives

 

 

 

 

 

 

 

 

 

 

 

 

Marketing Strategies Implementation

 

 

 

 

 

 

 

 

 

Specific Focus on Social Media and Digital Marketing

The segment for the company to target is the female audiences in the age group of 35 to 65 years that are overweight are cautious about their health and fitness. These audience should be targeted for maximum ROI and should be targeted along the year with digital marketing tools and social media strategies.

 

References

Cross, J.C., Belich, T.J. and Rudelius, W., 2015. How marketing managers use market segmentation: An exploratory study. In Proceedings of the 1990 Academy of Marketing Science (AMS) Annual Conference (pp. 531-536). Springer, Cham.

Muller, H. and Hamm, U., 2014. Stability of market segmentation with cluster analysis–A methodological approach. Food Quality and Preference, 34, pp.70-78.

Kim, D. Y., Kumar, V., & Kumar, U. (2012). Relationship between quality management practices and innovation. Journal of Operations Management,30(4), 295-315.

Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Ramsaran-Fowdar, R.R. and Fowdar, S., 2013. The implications of Facebook marketing for organizations. Contemporary Management Research, 9(1), p.73.

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