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Marketing Strategy Proposal

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ranyhyn akui

on 26 October 2014

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Transcript of Marketing Strategy Proposal

Situation Analysis
Introduction
Marketing Strategy Proposal

In-Vision
Customer analysis - Retail Complexes
Core need
● Way to increase customer experience and awareness

Firm demographics
● Large size
● Strong financial base and stability

Company culture
● Sophisticated
● Strong growth orientation
● Less likely accept innovation
● Less likely rely on technology based on leasing business

Usage Behaviours
● Product that enhance customer experience
● Products that could gain feedback from the customer
● Convenient and low cost
Competitive Intensity
Competitor Analysis
Customer analysis - Ad agency
Customer analysis - Retailers
Core need
● Way to increase awareness and attract more customers
● Deepen customer experience

Firm demographics
● Large size
● 68 supermarkets & grocery stores and 96 large chain retailers in Brisbane alone
● Large sales volumes
● Strong financial base

Company culture
● Strong growth orientation
● History of using technology and innovation for advertising
● Modern and developed business
● Rely heavily on advertising

Usage Behaviours
● Products that enhance selling effectiveness
● Products that enhance customer experience
● High revenue per customer
● Willing to buy value-added solutions

Situation analysis
Target market Identification
Industry and market analysis
Launch and promotion strategies
Positioning Strategy
Differentiation
through product performance:
Ease of use
Cost of purchase (compared to substitutes)
Features: iBeacon ready, invisible technology
Begins with
target customers
.

Three target markets requires three positioning strategies, each outlining the product to market fit.

iBeacon Advertising:
Increases app engagement by 16.5 %
high sales conversion rates
Enables collection of data on customers
New advertising channel - competitive advantage

Target Market
: Advertising Agencies

Positioning
:
invisible technology
simplifies the ad creation process, reducing the time it takes to get the finished product to the final customer
provides a competitive advantage by enabling iBeacon advertising, a new marketing avenue which may attract new clients.

Target Market:
Retailers

Positioning
:
requires no technical expertise
reduces cost and time of producing mobile advertisements
enables iBeacon advertisements to be created in-store, on-the-spot

Target Market:
Retail complexes

Positioning:
invisible technology
versatile and flexible: can be used for a wide range of retailers in any location
encourages app engagement


Each positioning strategy can be communicated to each target market through the marketing strategies proposed.
Marketing Communications Strategy
Budget:
None to very limited
Objectives

Short term
:
Create awareness of Vizbly
Generate interest in the product
Establish a customer base
Enable tracking and measuring of communications

Long term:

Build and expand customer base
Grow brand presence
Extend scope to Asian markets
See return on investment
B2B Marketing activity goals:

Cold Calling

Target Market:
Advertising Agencies
Goals:
Awareness, Knowledge, Commitment
Strategy:
Connecting with potential customers by phone to generate leads and build initial customer base.
Cost:
None
T
ime
: First 3-6 months


Strategic partnerships

Target Market:
Retailers and complexes
Goals:
Awareness, Commitment, Advocacy
Strategy:
Partner with Beacon vendors and Advertising companies who develop mobile apps to enable a wider reach, add a competitive advantage and increase value for potential customers.
Cost:
None

Based on Lavidge and Steiner's (1961) Heirachy of Effects model.
References
Archer, M. (2014, September 18). The $400 million makeover of Westfield Garden City on Brisbane’s southside is almost complete, with 70 new retailers opening today.
Courier Mail.
Retrieved from http://www.couriermail.com.au/questnews/east/the-400-million-makeover-of-westfield-garden-city-on-brisbanes-southside-is-almost-complete-with-70-new-retailers-opening-today/story-fni9r0lo-1227062877277

Best, R. (2014).
Market-Based Management (6th ed).
Essex: Pearson.


Brustein, J. (2014, January 6). Apple's iBeacon helps marketer beam ads to grocery shoppers' phones.
Bloomberg Business Week.
Retrieved from http://www.businessweek.com/articles/2014-01-06/apples-ibeacon-helps-marketer-beam-ads-to-grocery-shoppers-phones

Cameron, N. (2013, December 17). Marketing predictions 2014: Targeted and more effective content marketing.
CMO.
Retrieved from http://www.cmo.com.au/article/534375/marketing_predictions_2014_targeted_more_effective_content_marketing/

Cameron, N. (2014, July 31). Chatswood Chase reveals customer insights from iBeacon trial.
CMO.
Retrieved from http://www.cmo.com.au/article/551328/chatswood_chase_reveals_customer_insights_from_ibeacon_trial/

Heine, C. (2013, December 13). Consumer study suggests Apple's iBeacon could work for retailers: Says most of us are OK with sharing location.
Adweek.
Retrieved from http://www.adweek.com/news/technology/consumer-study-suggests-apples-ibeacon-could-work-retailers-154503

Hopwell, L. (2013, November 6). Meet Proxima: How two Sydney devs are re-shaping geolocation for iOS.
Gizmodo.
Retrieved from http://www.gizmodo.com.au/2013/11/meet-proxima-how-two-sydney-devs-are-re-shaping-geolocation-for-ios/




Advertising Agencies
Example: CHE PROXIMITY
Uses customers' data and past purchase behaviours to tailor targeted contents that are sent directly to customers' devices
Signifying the importance of building a relationship between companies and their customers
Clients are big companies such as Foxtel, Mazda, GE Money, and Salvation Army


Inhouse Marketing Departments
Often only focusing on traditional marketing that goes one way to the customers
Does not recognise customers' psychographics


Softwares
Example: PROXIMA
Also uses the iBeacon, completed with the Multi-Peer Pairing technology
Similar concept to VIZBLY - interactive advertisement that is based on the customer’s location, BUT more complex and requires IT expertise of Proxima consultants
Has a wallet technology that lets customers securely makes a payment at any of their partner locations
Customer Identification: Most Profitable
Kahn, J. (2014, June 16). iBeacons in retail stores blowing up app engagement.
9to5Mac.
Retrieved from http://9to5mac.com/2014/06/16/ibeacons-in-retail-stores-blowing-up-app-usage-ad-engagement/.

Lavidge, R. & Steiner, G. (1961). A model for predictive measurements of advertising effectiveness. Journal of Marketing, 25(6), 59-62.

Mitchell, S. (2014, August 15). Aldi expansion could end Coles-Woolworths supermarket duopoly.
Australian Finance Review.
Retrieved from http://www.afr.com/p/business/companies/aldi_expansion_could_end_coles_woolworths_d33XUgjDY5V0pXmhrWaOtK.

No Author (2014, April) Advertising Agencies in Australia: Market Research Report. Ibis World. http://www.ibisworld.com.au/industry/default.aspx?indid=2337

No Author. (2014, September 23). Supermarkets conundrum.
The Australian.
Retrieved from http://www.theaustralian.com.au/business/supermarkets-conundrum/story-e6frg8zx-1227067049724

No Author. (2014, October 4).
Australian Retail Index
. Retrieved from http://australianretailindex.com.au/#

No Author. WhybinTBWA Our Work.
WhybinTBWA Group Sydney
. Retrieved from http://www.whybintbwasydney.com.au/work/

No Author. 303lowe Our Work.
303lowe
. Retrieved from http://303lowe.com.au/our-work/

1. Retailers
(Supermarkets, Fashion, and Other Retailers)

Retail turnover in December 2013 alone = $4.7 trillion , annual trend growth = 4.6% (ABS 2014)

Food retailing sales rose by 0.3% in August 2014, and estimated to rise by another 0.5% (ABS 2014)

Dependent on traditional marketing strategy, but starting to adapt the high-tech one

Big enough (both store size and company size) to use the iBeacon system efficiently


2. Advertising agencies

Annual growth of advertising agencies are 0.9% (IBIS World 2014)

Increasing demand for advertising services due to increased industry competition

Broaden market by selling the app under established advertising agencies

Networking

Target Market:
Advertising Agencies, Retailers, Retail Complexes
Goals:
Awareness, Knowledge, Interest
Strategy:
Meet and connect with business people in relevant industries to raise Vizbly's profile and develop profitable relationships at events, meet-ups and conferences.
Cost:
Fees and ticket costs may be involved




Public Relations

Target Market:
Advertising agencies, retailers
Goals:
Awareness, Knowledge, Advocacy
Strategy:
Submit articles or media releases to relevant industry publications for inclusion to create awareness and lend credibility to the brand.
Cost:
None

Core need
● Seeking more advertising avenues
● Quicker and simpler ad creation
● Lack of tech expertise
● Cheaper methods without outsourcing

Firm demographics
● Medium to large size (Why – larger budgets)
● Experienced businesses with reputation in the industry
● 137 advertising agencies in Brisbane

Company culture
● Encourage and accept innovation
● Modern and sophisticated
● Strong growth orientation
● Lack of in-depth technology expertise

Usage Behaviours
● Products that provide more options to customer
● High revenue per customer
● Willing to buy value-adding solutions
STRENGTHS
WEAKNESSES
OPPORTUNITIES
THREATS
Innovative, flexible product
Invisible technology
Faster, simpler and less expensive
No customer base
No established marketing strategy
Limited budget
No reputation
Minimal competition
New advertising avenue - iBeacon
Growth of mobile technology
End-user resistance
Low prevalence of proximity advertising

Not many companies have used the iBeacon technology for proximity software development.
Competitive intensity is not intense, but VIZBLY should be aware on future development of similar technologies when the iBeacon becomes more popular.

Constant improvements, upgrades, and more integrated system are required to secure VIZBLY’s shares in the market.

Customer Attractiveness
How much do their needs align with VIZBLY’s benefits?
Reach companies with steady (or declining!) performance first rather than those with improving performance

ALDI
has the potential to boost their income by 12% each year, taking $250-350 millions of market shares from Coles and Woolworths (UBS 2014) while Metcash Ltd's (
IGA
) stock was just reduced to $2.50, with their target price of $3.30.
Full transcript