Marketing strategy of Danaher The Making of a Conglomerate

Posted by Zander Henry on Aug-22-2018

1. The vision of Danaher The Making of a Conglomerate

The vision of Danaher The Making of a Conglomerate is to be the leading quality service and product provider for customers. Being the best and the leading player means that Danaher The Making of a Conglomerate marketing strategy and operations focus on:

• Providing high quality of products and services
• Providing value to customers
• Concentrate on building customer experience

2. The mission of Danaher The Making of a Conglomerate

Danaher The Making of a Conglomerate marketing strategy is grounded in its mission. The mission for Danaher The Making of a Conglomerate is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Danaher The Making of a Conglomerate as it focuses on all operations and marketing activities in the direction of:

• Consumer centrism
• Using research to understand and influence consumers

3. Brand Equity of Danaher The Making of a Conglomerate

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of Danaher The Making of a Conglomerate. The knowledge of brand equity will help in shaping Danaher The Making of a Conglomerate marketing strategy effectively – thereby facilitating the growth of business for Danaher The Making of a Conglomerate.

3.1. Brand awareness

• Danaher The Making of a Conglomerate has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for Danaher The Making of a Conglomerate has modified marketing and strategic directives and plans

3.2. Brand association

• Danaher The Making of a Conglomerate is directly associated with the brand name and product category
• Danaher The Making of a Conglomerate has a broad product portfolio
• Danaher The Making of a Conglomerate is associated with promising and delivering quality and innovative products
• Danaher The Making of a Conglomerate is also associated with excellent customer service

3.3. Brand loyalty

• Danaher The Making of a Conglomerate has been successful at gaining high consumer loyalty because of unique and influential marketing strategy
• Danaher The Making of a Conglomerate has a global customer base
• Danaher The Making of a Conglomerate keeps adding value addition to the products and product portfolio to keep consumers engaged

3.4. Brand asset

• Danaher The Making of a Conglomerate has a substantial brand value
• Danaher The Making of a Conglomerate also enjoys the high financial worth
• Danaher The Making of a Conglomerate focuses on building a reliable and robust employee base

3.5. Brand element

• Danaher The Making of a Conglomerate uses the brand element as a means of competitive advantage
• Uses adaptability in product, services, and marketing to meet different cultural demands

4. Situational Analysis of Danaher The Making of a Conglomerate

The situational analysis will help in developing the marketing strategy of Danaher The Making of a Conglomerate by conducting a thorough market analysis. This market analysis will aid in understanding the compatibility between external opportunities and other factors, and internal strengths – to be used to maximize the marketing influence of Danaher The Making of a Conglomerate.

4.1. SWOT

4.1.1. Strengths

Danaher The Making of a Conglomerate marketing strategy can benefit from the following internal advantages:

• Strong brand image
• Global distribution network
• Investment in market research
• Innovation

4.1.2. Weakness

Danaher The Making of a Conglomerate faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Danaher The Making of a Conglomerate has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Danaher The Making of a Conglomerate faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Danaher The Making of a Conglomerate operates I markets with political stability
• Danaher The Making of a Conglomerate has funding support from the government for small businesses

4.2.2. Economic

• Danaher The Making of a Conglomerate enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for Danaher The Making of a Conglomerate
• Low inflation strengthens the financial position of Danaher The Making of a Conglomerate

4.2.3. Social

• Higher education and awareness increases sales of Danaher The Making of a Conglomerate predict
• Danaher The Making of a Conglomerate focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Danaher The Making of a Conglomerate has an active CSR program
• Danaher The Making of a Conglomerate ensures environmental safety in all its operations

4.2.5. Legal

• Danaher The Making of a Conglomerate is aware of local and global laws of business and human resource management
• Danaher The Making of a Conglomerate abides by all statutes – especially labour law, discrimination law, and employee safety laws

4.3. Porter’s Five Forces

4.3.1. Threat of substitutes

• High risk of replacements
• Substitutes offer similar products at low prices

4.3.2. The threat of new entrants

• New entrants need high financial investment
• New entrants need updated technology for keeping par with industry progress

4.3.3. Bargaining power of buyers

• Sales made to end consumer directly
• Stocking of products at retailers, as well as own-controlled retail outlets

4.3.4. Bargaining power of suppliers

• Multiple suppliers of raw materials
• Suppliers are chosen after careful inspection, and through contracts

4.3.5. Industry rivalry

• High industry rivalry
• Players offer similar products
• Players compete through marketing to influence consumers

5. Marketing Objectives for Danaher The Making of a Conglomerate: The Marketing Strategy of Danaher The Making of a Conglomerate

Danaher The Making of a Conglomerate marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Danaher The Making of a Conglomerate brand and products by 30%
• Increase sales for Danaher The Making of a Conglomerate by 40% by the third quarter of the financial year
• Achieve a trial rate for new products of 10% during the first quarter of the launch
• Increase consumption rate of existing products by 45% during the current financial year

5.2. Enhanced brand recognition

• Increase top of mind recall by 65% during the current fiscal year
• Increase brand recognition by 80% during the first two quarters of the current financial year

5.3. Increased use of digital marketing

• Acquire 25,000 new online customers during the financial year
• Increase website traffic through using blogging and email tactics effectively by 505 during the first two quarters of the year
• Acquire 65,000 likes on the official Facebook page of Danaher The Making of a Conglomerate during the first quarter of the financial year

5.4. Retail Growth

• Contract with five more leading supermarkets in the first quarter of the year to stock product at eye level shelving
• Contract with two leading online retail sites – eBay and Amazon – to stock our products, and increase accessibility for consumers globally by the second quarter of the financial year

6. Segmentation of Danaher The Making of a Conglomerate

Danaher The Making of a Conglomerate marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Danaher The Making of a Conglomerate has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Danaher The Making of a Conglomerate has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Danaher The Making of a Conglomerate, according to the marketing strategy, are in the following various life cycle stages:

• Single students
• Single graduates
• Single people living at home/not living at home
• Young couples without children
• Married couples with one to four children – all at home
• Married couples with one or two children in college
• Old married couples with an empty nest

6.1.4. Occupation

The marketing strategy devises the following occupations for Danaher The Making of a Conglomerate consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Danaher The Making of a Conglomerate focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Danaher The Making of a Conglomerate consumer segments have the following lifestyle characteristics:

• They aspire towards a better and higher living standard
• They want to be successful – professionally and socially
• They are not hesitant to try new things, products and services in life
• They are confident in their behaviour and attitude
• They are mainstreamers in their fields

6.3. Geographic segmentation

6.3.1. Region

• Danaher The Making of a Conglomerate has operations spread across the western developed countries such as America, the united kingdom, and the Netherlands
• It also has operations in emerging markets such as Brazil, India, and China

6.3.2. Density

• The focus of Danaher The Making of a Conglomerate remains on the urban part of the population

6.4. Behavioural segmentation

6.4.1. Personality

The marketing strategy defines personality characteristics for the consumers of the brand of Danaher The Making of a Conglomerate, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Danaher The Making of a Conglomerate are regular and frequent users of the product

6.4.3. Benefits sought

• Consumers seek functional benefits
• The focus, however, is more on the emotional benefits reaped from the consumption of the brand

6.4.4. Degree of loyalty

• Consumers are very loyal
• Have an emotional attachment with the brand

7. Targeting of Danaher The Making of a Conglomerate Positioning of Danaher The Making of a Conglomerate

The marketing strategy of Danaher The Making of a Conglomerate targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Danaher The Making of a Conglomerate is from middle to upper class
• The target market is ambitious and desires to purchase high-end consumer products
• This target market also seeks affordability
• To meet target market expectations, the Danaher The Making of a Conglomerate focuses on quality control

7.2. Mass marketing

• The marketing strategy of Danaher The Making of a Conglomerate focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• Danaher The Making of a Conglomerate makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• Danaher The Making of a Conglomerate does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, Danaher The Making of a Conglomerate also created the marketing mix under the marketing strategy as a singular one for the whole market – regardless of the segmentation divides.

7.4. Focus on quality

• Danaher The Making of a Conglomerate has created, developed, and maintained a brand that satisfies all consumers under the undifferentiated marketing strategy and mass marketing
• No compromise on quality has been made in the broad product portfolio
• To ensure the influence of a single marketing strategy, the Danaher The Making of a Conglomerate has also adopted a consumer-centric approach in its overall marketing strategy and operations as well
• This was used for targeting strategy as well as for maintaining growth

8. Company Competitive Advantage in the marketing strategy of Danaher The Making of a Conglomerate

The marketing strategy of Danaher The Making of a Conglomerate stands out from the clutter and competition. Danaher The Making of a Conglomerate has also achieved a sustainable competitive advantage in its marketing strategy. This is because of the following factors that Danaher The Making of a Conglomerate has utilized:

8.1. Cost-effectiveness

• Danaher The Making of a Conglomerate focuses on reaching consumers effectively rather than grandeur
• Danaher The Making of a Conglomerate focuses on developing an integrated marketing approach
• The use of digital marketing efficiently and expertly has helped the company reach a wider audience at a lower cost
• Danaher The Making of a Conglomerate has in-house copywriters for marketing campaigns which also helps in controlling costs
• Danaher The Making of a Conglomerate also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

• Danaher The Making of a Conglomerate has stayed updated with latest developments in marketing research and marketing knowledge
• Danaher The Making of a Conglomerate makes use of new and innovative tactics to reach its target consumers
• Danaher The Making of a Conglomerate also employs top of the field marketers to facilitate its marketing strategy and promotional campaigns
• Each marketing campaign launched by Danaher The Making of a Conglomerate is effective catchier and more influential than the previous one

8.3. Strong market research and consumer understanding grounded

• Danaher The Making of a Conglomerate marketing strategy is strongly grounded in consumer and market research
• Danaher The Making of a Conglomerate makes informed marketing campaigns and goals based on consumers’ behavioural feedback
• Danaher The Making of a Conglomerate also incorporates consumer feedback in its marketing strategy
• Danaher The Making of a Conglomerate marketing strategy is based on market trends, and consumer needs and wants

8.4. Making effective use of emotional appeals

• Consumers’ emotional needs strongly influence all marketing objectives and marketing goals set by Danaher The Making of a Conglomerate
• In addition to fulfilling functional needs, Danaher The Making of a Conglomerate also tries to fulfil the emotional and psychological needs of the consumer
• Danaher The Making of a Conglomerate tries to build a strong emotional bond with the consumer, which also results in high consumer loyalty

9. Distribution Strategy of Danaher The Making of a Conglomerate

Danaher The Making of a Conglomerate marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Danaher The Making of a Conglomerate makes use of intensive distribution strategy because it is mass marketing
• Danaher The Making of a Conglomerate’s marketing strategy is based on undifferentiated segments, and thus an intensive distribution strategy allows high penetration and reaches in the overall market
• With the use of the intensive distribution, Danaher The Making of a Conglomerate tries to maximise its coverage of the markets where it's present
• For achieving the intensive strategy, the company uses hardcore 360-degree integrated marketing strategy and campaign to reach all consumers, across all segments in the market.

9.2. Direct distribution strategy

• Danaher The Making of a Conglomerate uses direct distribution country of origin as well as in locations where it has subsidiary operations
• The Danaher The Making of a Conglomerate also makes use of modern retailing channels
• Also, Danaher The Making of a Conglomerate makes use of e-commerce and makes a sale through online retailers, as well as through the company website
• Direct distributions have allowed Danaher The Making of a Conglomerate to increase market penetration and accessibility for consumers

9.3. Indirect distribution strategy

• This strategy is largely used for offshore operations where the Danaher The Making of a Conglomerate does not have a subsidiary
• In these offshore locations, Danaher The Making of a Conglomerate largely works through the export model
• This makes use of several intermediaries in between, before the product by Danaher The Making of a Conglomerate reaches the target consumers
• Intermediaries for Danaher The Making of a Conglomerate include not only the end retail outlets, but also sales agents, retail agents, and distribution agents in offshore locations

9.4. Selective distribution strategy

• For some products of its portfolio which are premium in nature, Danaher The Making of a Conglomerate makes use of selective distribution channel
• Danaher The Making of a Conglomerate has maintained a few outlets in the country of origin, and in selected offshore markets for these products
• These placements and locations are chosen based on the niche market that Danaher The Making of a Conglomerate has for its premium products
• These locations, placements, and marketing strategy helps make the company’s product selectively, but readily accessible for its niche target audience

10. Competition Analysis in the marketing strategy of Danaher The Making of a Conglomerate

The industry in which Danaher The Making of a Conglomerate operates is very responsive to market and consumer trends. Danaher The Making of a Conglomerate, therefore, needs to be vigilant in its market strategy towards competition – to make sure that it maintains its competitive advantage.

10.1. Strategic Group Analysis

• Danaher The Making of a Conglomerate competes with direct and close competition based on quality and price
• Consumers choose between different companies from the industry based on their functional offering
• Consumers have progressively evolved to strengthen loyalty and form an emotional bond with products that they consume
• Danaher The Making of a Conglomerate also competes, thereby, with close competition for building stronger brand image, increasing consume loyalty, and for forming strong emotional ties with the consumer

10.2. Industry rivalry

• Danaher The Making of a Conglomerate experiences high industry rivalry
• The barriers to entry for the industry are low, and new entrants gain easy access in the industry
• The number of local as well as global players is increasing

11. Marketing mix of Danaher The Making of a Conglomerate

The marketing mix for Danaher The Making of a Conglomerate as per the marketing strategy is the following:

11.1. Product

• Danaher The Making of a Conglomerate has a broad product portfolio
• Danaher The Making of a Conglomerate provides mass marketed products for all segments across the market undifferentiated
• Danaher The Making of a Conglomerate also provides some selected, premium products to niche customer groups
• All products in the portfolio consistently maintain high quality
• All products are tailored to meet consumer specifications, demands and needs across different regional markets
• The Danaher The Making of a Conglomerate maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• Danaher The Making of a Conglomerate wants to have a close, emotional and personal relationship with its consumers
• The company maintains high control in its distribution strategies – especially through direct distribution strategy
• The company has a presence in leading supermarkets
• The Danaher The Making of a Conglomerate also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• Danaher The Making of a Conglomerate also makes use of e-commerce to increase penetration and sales

11.3. Price

• The Danaher The Making of a Conglomerate prices its products so that its target consumers can afford it easily
• Danaher The Making of a Conglomerate uses relative pricing strategy for its products
• The price of Danaher The Making of a Conglomerate’s products include not only the high quality raw materials and value additions but also the enhanced customer experience they deliver
• The company’s pricing strategy allows it to enjoy stable revenue and profit growth

11.4. Promotion

• The Danaher The Making of a Conglomerate has a high budget allocated towards marketing activities
• The Danaher The Making of a Conglomerate invests substantially in digital marketing activities to reap high and effective results
• Use of digital marketing has also allowed Danaher The Making of a Conglomerate marketing strategy to cap costs and expenses
• Danaher The Making of a Conglomerate also takes part in direct consumer engagement through on-ground activities where the company initiates trials
• Danaher The Making of a Conglomerate also invests in traditional media channels to reach maximum consumers in the market

11.5. People

• Danaher The Making of a Conglomerate has a large workforce across different companies
• This workforce is continually trained to become experts in their respective fields of operations
• Danaher The Making of a Conglomerate hires without discrimination
• Danaher The Making of a Conglomerate ensures that its employees remain motivated through building an inspirational and creative organizational culture
• Danaher The Making of a Conglomerate focuses on also building and maintaining organizational commitment and loyalty in its employees

11.6. Process

• All activities at Danaher The Making of a Conglomerate - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Danaher The Making of a Conglomerate are well defined, and well communicated to all employees
• All employees are trained to follow the processes internally to ensure consistently high quality as well as timely production and deliveries
• The systematic processes also ensure a smooth running of operations at the Danaher The Making of a Conglomerate

11.7. Physical evidence

• The physical evidence for Danaher The Making of a Conglomerate includes the company logo, company store designs, and the product packaging
• Satisfied and excited customers in the retail spaces of Danaher The Making of a Conglomerate, as well as during product consumption create a bubbling and an inviting atmosphere
• The e-commerce website for retail by Danaher The Making of a Conglomerate is also designed with a friendly customer interface to allow maximum interaction with the brand
• The store designs created by Danaher The Making of a Conglomerate for its retail space allow consumers maximum interaction with the products directly.

12. Promotional tactics for the marketing strategy of Danaher The Making of a Conglomerate

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Danaher The Making of a Conglomerate interacts with the consumers directly, and engages with them, answers their queries and takes their feedback
• The company also shares information and build relationships with consumers through digital marketing
• Danaher The Making of a Conglomerate also makes use of blogging, emails, and content creations as a means of digital marketing

12.2. Conventional marketing

• The company uses a 360-degree approach in its marketing strategy
• This means that the company makes use of traditional marketing channels as well – such as TV, magazine adverts, and out of house placements

12.3. Influencers

• For direct, on-ground engagement, the company uses influencers
• Influencers interact with consumers directly, or through their channels of communication as a means of content creation and endorsing the Danaher The Making of a Conglomerate brand

13. Monitoring and evaluation of the marketing strategy of Danaher The Making of a Conglomerate

13.1. Changes in sales

• Danaher The Making of a Conglomerate regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of Danaher The Making of a Conglomerate
• Sometimes, Danaher The Making of a Conglomerate experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• Danaher The Making of a Conglomerate frequently conducts focus groups and surveys to identify its brand worth
• These methods also help the company identify brand value, brand recall, and brand recognition
• Focus groups allow Danaher The Making of a Conglomerate to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Danaher The Making of a Conglomerate can also be seen through the revenue and profit growth
• Return on investment allows Danaher The Making of a Conglomerate to effective gauge the effect and influence of the marketing strategy, and measure its success

13.4. Attainment of marketing objectives

• All marketing objectives set by Danaher The Making of a Conglomerate are SMART
• The quantitative set against each of the marketing objective can facilitate attainment evaluation for the overall marketing strategy
• Successful and timely attainment of these marketing objectives highlight the success of the marketing strategy of Danaher The Making of a Conglomerate