Marketing strategy of Demandforce Pursuing Entrepreneurial Dreams

Posted by Zander Henry on Aug-22-2018

1. The vision of Demandforce Pursuing Entrepreneurial Dreams

The vision of Demandforce Pursuing Entrepreneurial Dreams is to be the leading quality service and product provider for customers. Being the best and the leading player means that Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams

Demandforce Pursuing Entrepreneurial Dreams marketing strategy is grounded in its mission. The mission for Demandforce Pursuing Entrepreneurial Dreams is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of Demandforce Pursuing Entrepreneurial Dreams. The knowledge of brand equity will help in shaping Demandforce Pursuing Entrepreneurial Dreams marketing strategy effectively – thereby facilitating the growth of business for Demandforce Pursuing Entrepreneurial Dreams.

3.1. Brand awareness

• Demandforce Pursuing Entrepreneurial Dreams has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for Demandforce Pursuing Entrepreneurial Dreams has modified marketing and strategic directives and plans

3.2. Brand association

• Demandforce Pursuing Entrepreneurial Dreams is directly associated with the brand name and product category
• Demandforce Pursuing Entrepreneurial Dreams has a broad product portfolio
• Demandforce Pursuing Entrepreneurial Dreams is associated with promising and delivering quality and innovative products
• Demandforce Pursuing Entrepreneurial Dreams is also associated with excellent customer service

3.3. Brand loyalty

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

3.4. Brand asset

• Demandforce Pursuing Entrepreneurial Dreams has a substantial brand value
• Demandforce Pursuing Entrepreneurial Dreams also enjoys the high financial worth
• Demandforce Pursuing Entrepreneurial Dreams focuses on building a reliable and robust employee base

3.5. Brand element

• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams

The situational analysis will help in developing the marketing strategy of Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams.

4.1. SWOT

4.1.1. Strengths

Demandforce Pursuing Entrepreneurial Dreams marketing strategy can benefit from the following internal advantages:

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

4.1.2. Weakness

Demandforce Pursuing Entrepreneurial Dreams faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Demandforce Pursuing Entrepreneurial Dreams has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Demandforce Pursuing Entrepreneurial Dreams faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Demandforce Pursuing Entrepreneurial Dreams operates I markets with political stability
• Demandforce Pursuing Entrepreneurial Dreams has funding support from the government for small businesses

4.2.2. Economic

• Demandforce Pursuing Entrepreneurial Dreams enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for Demandforce Pursuing Entrepreneurial Dreams
• Low inflation strengthens the financial position of Demandforce Pursuing Entrepreneurial Dreams

4.2.3. Social

• Higher education and awareness increases sales of Demandforce Pursuing Entrepreneurial Dreams predict
• Demandforce Pursuing Entrepreneurial Dreams focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Demandforce Pursuing Entrepreneurial Dreams has an active CSR program
• Demandforce Pursuing Entrepreneurial Dreams ensures environmental safety in all its operations

4.2.5. Legal

• Demandforce Pursuing Entrepreneurial Dreams is aware of local and global laws of business and human resource management
• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams: The Marketing Strategy of Demandforce Pursuing Entrepreneurial Dreams

Demandforce Pursuing Entrepreneurial Dreams marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Demandforce Pursuing Entrepreneurial Dreams brand and products by 30%
• Increase sales for Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams

Demandforce Pursuing Entrepreneurial Dreams marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Demandforce Pursuing Entrepreneurial Dreams has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Demandforce Pursuing Entrepreneurial Dreams has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Demandforce Pursuing Entrepreneurial Dreams, 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 Demandforce Pursuing Entrepreneurial Dreams consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Demandforce Pursuing Entrepreneurial Dreams focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Demandforce Pursuing Entrepreneurial Dreams 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

• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams Positioning of Demandforce Pursuing Entrepreneurial Dreams

The marketing strategy of Demandforce Pursuing Entrepreneurial Dreams targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams focuses on quality control

7.2. Mass marketing

• The marketing strategy of Demandforce Pursuing Entrepreneurial Dreams focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• Demandforce Pursuing Entrepreneurial Dreams makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• Demandforce Pursuing Entrepreneurial Dreams does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, Demandforce Pursuing Entrepreneurial Dreams 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

• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams

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

8.1. Cost-effectiveness

• Demandforce Pursuing Entrepreneurial Dreams focuses on reaching consumers effectively rather than grandeur
• Demandforce Pursuing Entrepreneurial Dreams 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
• Demandforce Pursuing Entrepreneurial Dreams has in-house copywriters for marketing campaigns which also helps in controlling costs
• Demandforce Pursuing Entrepreneurial Dreams also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

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

8.3. Strong market research and consumer understanding grounded

• Demandforce Pursuing Entrepreneurial Dreams marketing strategy is strongly grounded in consumer and market research
• Demandforce Pursuing Entrepreneurial Dreams makes informed marketing campaigns and goals based on consumers’ behavioural feedback
• Demandforce Pursuing Entrepreneurial Dreams also incorporates consumer feedback in its marketing strategy
• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams
• In addition to fulfilling functional needs, Demandforce Pursuing Entrepreneurial Dreams also tries to fulfil the emotional and psychological needs of the consumer
• Demandforce Pursuing Entrepreneurial Dreams tries to build a strong emotional bond with the consumer, which also results in high consumer loyalty

9. Distribution Strategy of Demandforce Pursuing Entrepreneurial Dreams

Demandforce Pursuing Entrepreneurial Dreams marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Demandforce Pursuing Entrepreneurial Dreams makes use of intensive distribution strategy because it is mass marketing
• Demandforce Pursuing Entrepreneurial Dreams’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, Demandforce Pursuing Entrepreneurial Dreams 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

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

9.3. Indirect distribution strategy

• This strategy is largely used for offshore operations where the Demandforce Pursuing Entrepreneurial Dreams does not have a subsidiary
• In these offshore locations, Demandforce Pursuing Entrepreneurial Dreams largely works through the export model
• This makes use of several intermediaries in between, before the product by Demandforce Pursuing Entrepreneurial Dreams reaches the target consumers
• Intermediaries for Demandforce Pursuing Entrepreneurial Dreams 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, Demandforce Pursuing Entrepreneurial Dreams makes use of selective distribution channel
• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams

The industry in which Demandforce Pursuing Entrepreneurial Dreams operates is very responsive to market and consumer trends. Demandforce Pursuing Entrepreneurial Dreams, 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

• Demandforce Pursuing Entrepreneurial Dreams 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
• Demandforce Pursuing Entrepreneurial Dreams 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

• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams

The marketing mix for Demandforce Pursuing Entrepreneurial Dreams as per the marketing strategy is the following:

11.1. Product

• Demandforce Pursuing Entrepreneurial Dreams has a broad product portfolio
• Demandforce Pursuing Entrepreneurial Dreams provides mass marketed products for all segments across the market undifferentiated
• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• Demandforce Pursuing Entrepreneurial Dreams also makes use of e-commerce to increase penetration and sales

11.3. Price

• The Demandforce Pursuing Entrepreneurial Dreams prices its products so that its target consumers can afford it easily
• Demandforce Pursuing Entrepreneurial Dreams uses relative pricing strategy for its products
• The price of Demandforce Pursuing Entrepreneurial Dreams’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 Demandforce Pursuing Entrepreneurial Dreams has a high budget allocated towards marketing activities
• The Demandforce Pursuing Entrepreneurial Dreams invests substantially in digital marketing activities to reap high and effective results
• Use of digital marketing has also allowed Demandforce Pursuing Entrepreneurial Dreams marketing strategy to cap costs and expenses
• Demandforce Pursuing Entrepreneurial Dreams also takes part in direct consumer engagement through on-ground activities where the company initiates trials
• Demandforce Pursuing Entrepreneurial Dreams also invests in traditional media channels to reach maximum consumers in the market

11.5. People

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

11.6. Process

• All activities at Demandforce Pursuing Entrepreneurial Dreams - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams

11.7. Physical evidence

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

12. Promotional tactics for the marketing strategy of Demandforce Pursuing Entrepreneurial Dreams

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Demandforce Pursuing Entrepreneurial Dreams 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
• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams brand

13. Monitoring and evaluation of the marketing strategy of Demandforce Pursuing Entrepreneurial Dreams

13.1. Changes in sales

• Demandforce Pursuing Entrepreneurial Dreams regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of Demandforce Pursuing Entrepreneurial Dreams
• Sometimes, Demandforce Pursuing Entrepreneurial Dreams experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Demandforce Pursuing Entrepreneurial Dreams can also be seen through the revenue and profit growth
• Return on investment allows Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams 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 Demandforce Pursuing Entrepreneurial Dreams