Strategies for the market Targets Essay
One of the most dynamic factors in the world has been technology. World technology has been changing very fast. No one is sure of the when the current technology will become obsolete. While the company has been investing heavily to keep up with the emerging technology in the market, rapid change in this technology will impact negatively on its fanatical performance as it will be forced to invest in the new technology. Strategies for the market Targets The strategies that are set forth by the corporation for implementation will be the most important factor that will ensure the successes of the corporation in the market.
The way the brand will be introduced and the consequent efforts to which will ensure the growth of that particular brand is very important. The strategies used in the market will use the Ansoff Matrix to penetrate the market and ensure the growth of the brand in the market. In market penetration, the company will seek to sell its products in the existing market. This will form the base for introduction of the new brand in the market since they will be marketed among the segment that is already other Microsoft’s products.
This will be achieved through
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This strategy will then be followed by market development strategy which will be aimed at creating and selling the product in new market. This strategy will include sourcing for new geographical markets. The company is already selling its products in nearly every country in the world and therefore the company will just need to introduce the brand in the already established market. This will be in the same line with product development where the company will introduce the new product in the existing markets.
After introduction of the product in the market, brand growth will be the next important thing in the corporation’s marketing strategy. Brand name development is important in the overall growth strategy for the company. The name of the brand is always chosen after an extensive market research that is carried out in US. Using the focused consumer groups, the company carried out an extensive research before coming up with the brand name. The corporation’s strategy will be aiming at creating a products brand personality which will be developing in line with the characteristics of the target market.
For Microsoft’s Dream, the most important key elements will be the way it will appeal to the target market who is seeking style, confidence, sophistication and element of self-assurance in their lifestyles. The main aim of this strategy is to ensure that it creates a brand name in the market. The brand personality described the characteristics of the brand in relation to the target market of the product. Brand personality is important as it will help the marketer to develop the mapping that will successfully introduce the brand to the market.
The brand personality has some key elements that make a special appeal to females like style, confidence, sophistication, and self assurances. (Microsoft, 2008) Implementation This market strategy will be implemented in stages. This will ensure that all the activities are carried out in a way that they meet the expected market results. Implementing the plan in stages is also important since it will ensure that the overall growth of the product can be monitored closely to ensure that there is growth.
This will also help to make intervention in case where the expected activity does not meet the expected market target. The overall aim of this marketing plan is to introduce the product to the market and therefore it will need to be well implemented to achieve the objective. The first stage of any marketing plan is the market research data which has already been implemented. It is already clear that the marketing research data shows a strong support for the introduction of the product in the market.
In this case there is a clear indication that he market is ready for such a product. The second stage in the implementation of this marketing plan would be to put together the marketing team. This will be the team that will be charged with the review of the marketing strategies and how they are to be implemented. This is given the role of assessing the market research data and understanding where it has to be implemented first and where it will follow. The marketing team is therefore responsible for the overall implementation of the marketing plan. (Giuly 2000, p. 251)