Marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation

Posted by Zander Henry on Aug-22-2018

1. The vision of Deriving Demand Curves for Specific Types of Outdoor Recreation

The vision of Deriving Demand Curves for Specific Types of Outdoor Recreation is to be the leading quality service and product provider for customers. Being the best and the leading player means that Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation

Deriving Demand Curves for Specific Types of Outdoor Recreation marketing strategy is grounded in its mission. The mission for Deriving Demand Curves for Specific Types of Outdoor Recreation is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation. The knowledge of brand equity will help in shaping Deriving Demand Curves for Specific Types of Outdoor Recreation marketing strategy effectively – thereby facilitating the growth of business for Deriving Demand Curves for Specific Types of Outdoor Recreation.

3.1. Brand awareness

• Deriving Demand Curves for Specific Types of Outdoor Recreation has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for Deriving Demand Curves for Specific Types of Outdoor Recreation has modified marketing and strategic directives and plans

3.2. Brand association

• Deriving Demand Curves for Specific Types of Outdoor Recreation is directly associated with the brand name and product category
• Deriving Demand Curves for Specific Types of Outdoor Recreation has a broad product portfolio
• Deriving Demand Curves for Specific Types of Outdoor Recreation is associated with promising and delivering quality and innovative products
• Deriving Demand Curves for Specific Types of Outdoor Recreation is also associated with excellent customer service

3.3. Brand loyalty

• Deriving Demand Curves for Specific Types of Outdoor Recreation has been successful at gaining high consumer loyalty because of unique and influential marketing strategy
• Deriving Demand Curves for Specific Types of Outdoor Recreation has a global customer base
• Deriving Demand Curves for Specific Types of Outdoor Recreation keeps adding value addition to the products and product portfolio to keep consumers engaged

3.4. Brand asset

• Deriving Demand Curves for Specific Types of Outdoor Recreation has a substantial brand value
• Deriving Demand Curves for Specific Types of Outdoor Recreation also enjoys the high financial worth
• Deriving Demand Curves for Specific Types of Outdoor Recreation focuses on building a reliable and robust employee base

3.5. Brand element

• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation

The situational analysis will help in developing the marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation.

4.1. SWOT

4.1.1. Strengths

Deriving Demand Curves for Specific Types of Outdoor Recreation marketing strategy can benefit from the following internal advantages:

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

4.1.2. Weakness

Deriving Demand Curves for Specific Types of Outdoor Recreation faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Deriving Demand Curves for Specific Types of Outdoor Recreation has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Deriving Demand Curves for Specific Types of Outdoor Recreation faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Deriving Demand Curves for Specific Types of Outdoor Recreation operates I markets with political stability
• Deriving Demand Curves for Specific Types of Outdoor Recreation has funding support from the government for small businesses

4.2.2. Economic

• Deriving Demand Curves for Specific Types of Outdoor Recreation enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for Deriving Demand Curves for Specific Types of Outdoor Recreation
• Low inflation strengthens the financial position of Deriving Demand Curves for Specific Types of Outdoor Recreation

4.2.3. Social

• Higher education and awareness increases sales of Deriving Demand Curves for Specific Types of Outdoor Recreation predict
• Deriving Demand Curves for Specific Types of Outdoor Recreation focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Deriving Demand Curves for Specific Types of Outdoor Recreation has an active CSR program
• Deriving Demand Curves for Specific Types of Outdoor Recreation ensures environmental safety in all its operations

4.2.5. Legal

• Deriving Demand Curves for Specific Types of Outdoor Recreation is aware of local and global laws of business and human resource management
• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation: The Marketing Strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation

Deriving Demand Curves for Specific Types of Outdoor Recreation marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Deriving Demand Curves for Specific Types of Outdoor Recreation brand and products by 30%
• Increase sales for Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation

Deriving Demand Curves for Specific Types of Outdoor Recreation marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Deriving Demand Curves for Specific Types of Outdoor Recreation has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Deriving Demand Curves for Specific Types of Outdoor Recreation has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Deriving Demand Curves for Specific Types of Outdoor Recreation, 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 Deriving Demand Curves for Specific Types of Outdoor Recreation consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Deriving Demand Curves for Specific Types of Outdoor Recreation focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Deriving Demand Curves for Specific Types of Outdoor Recreation 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

• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation Positioning of Deriving Demand Curves for Specific Types of Outdoor Recreation

The marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation focuses on quality control

7.2. Mass marketing

• The marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• Deriving Demand Curves for Specific Types of Outdoor Recreation makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• Deriving Demand Curves for Specific Types of Outdoor Recreation does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, Deriving Demand Curves for Specific Types of Outdoor Recreation 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

• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation

The marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation stands out from the clutter and competition. Deriving Demand Curves for Specific Types of Outdoor Recreation has also achieved a sustainable competitive advantage in its marketing strategy. This is because of the following factors that Deriving Demand Curves for Specific Types of Outdoor Recreation has utilized:

8.1. Cost-effectiveness

• Deriving Demand Curves for Specific Types of Outdoor Recreation focuses on reaching consumers effectively rather than grandeur
• Deriving Demand Curves for Specific Types of Outdoor Recreation 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
• Deriving Demand Curves for Specific Types of Outdoor Recreation has in-house copywriters for marketing campaigns which also helps in controlling costs
• Deriving Demand Curves for Specific Types of Outdoor Recreation also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

• Deriving Demand Curves for Specific Types of Outdoor Recreation has stayed updated with latest developments in marketing research and marketing knowledge
• Deriving Demand Curves for Specific Types of Outdoor Recreation makes use of new and innovative tactics to reach its target consumers
• Deriving Demand Curves for Specific Types of Outdoor Recreation also employs top of the field marketers to facilitate its marketing strategy and promotional campaigns
• Each marketing campaign launched by Deriving Demand Curves for Specific Types of Outdoor Recreation is effective catchier and more influential than the previous one

8.3. Strong market research and consumer understanding grounded

• Deriving Demand Curves for Specific Types of Outdoor Recreation marketing strategy is strongly grounded in consumer and market research
• Deriving Demand Curves for Specific Types of Outdoor Recreation makes informed marketing campaigns and goals based on consumers’ behavioural feedback
• Deriving Demand Curves for Specific Types of Outdoor Recreation also incorporates consumer feedback in its marketing strategy
• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation
• In addition to fulfilling functional needs, Deriving Demand Curves for Specific Types of Outdoor Recreation also tries to fulfil the emotional and psychological needs of the consumer
• Deriving Demand Curves for Specific Types of Outdoor Recreation tries to build a strong emotional bond with the consumer, which also results in high consumer loyalty

9. Distribution Strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation

Deriving Demand Curves for Specific Types of Outdoor Recreation marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Deriving Demand Curves for Specific Types of Outdoor Recreation makes use of intensive distribution strategy because it is mass marketing
• Deriving Demand Curves for Specific Types of Outdoor Recreation’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, Deriving Demand Curves for Specific Types of Outdoor Recreation 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

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

9.3. Indirect distribution strategy

• This strategy is largely used for offshore operations where the Deriving Demand Curves for Specific Types of Outdoor Recreation does not have a subsidiary
• In these offshore locations, Deriving Demand Curves for Specific Types of Outdoor Recreation largely works through the export model
• This makes use of several intermediaries in between, before the product by Deriving Demand Curves for Specific Types of Outdoor Recreation reaches the target consumers
• Intermediaries for Deriving Demand Curves for Specific Types of Outdoor Recreation 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, Deriving Demand Curves for Specific Types of Outdoor Recreation makes use of selective distribution channel
• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation

The industry in which Deriving Demand Curves for Specific Types of Outdoor Recreation operates is very responsive to market and consumer trends. Deriving Demand Curves for Specific Types of Outdoor Recreation, 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

• Deriving Demand Curves for Specific Types of Outdoor Recreation 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
• Deriving Demand Curves for Specific Types of Outdoor Recreation 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

• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation

The marketing mix for Deriving Demand Curves for Specific Types of Outdoor Recreation as per the marketing strategy is the following:

11.1. Product

• Deriving Demand Curves for Specific Types of Outdoor Recreation has a broad product portfolio
• Deriving Demand Curves for Specific Types of Outdoor Recreation provides mass marketed products for all segments across the market undifferentiated
• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• Deriving Demand Curves for Specific Types of Outdoor Recreation also makes use of e-commerce to increase penetration and sales

11.3. Price

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

11.5. People

• Deriving Demand Curves for Specific Types of Outdoor Recreation has a large workforce across different companies
• This workforce is continually trained to become experts in their respective fields of operations
• Deriving Demand Curves for Specific Types of Outdoor Recreation hires without discrimination
• Deriving Demand Curves for Specific Types of Outdoor Recreation ensures that its employees remain motivated through building an inspirational and creative organizational culture
• Deriving Demand Curves for Specific Types of Outdoor Recreation focuses on also building and maintaining organizational commitment and loyalty in its employees

11.6. Process

• All activities at Deriving Demand Curves for Specific Types of Outdoor Recreation - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation

11.7. Physical evidence

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

12. Promotional tactics for the marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Deriving Demand Curves for Specific Types of Outdoor Recreation 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
• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation brand

13. Monitoring and evaluation of the marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation

13.1. Changes in sales

• Deriving Demand Curves for Specific Types of Outdoor Recreation regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation
• Sometimes, Deriving Demand Curves for Specific Types of Outdoor Recreation experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Deriving Demand Curves for Specific Types of Outdoor Recreation can also be seen through the revenue and profit growth
• Return on investment allows Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation 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 Deriving Demand Curves for Specific Types of Outdoor Recreation