Marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project

Posted by Zander Henry on Aug-22-2018

1. The vision of Henderson Land The Bid for the Hong Kong Station Development Project

The vision of Henderson Land The Bid for the Hong Kong Station Development Project is to be the leading quality service and product provider for customers. Being the best and the leading player means that Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project

Henderson Land The Bid for the Hong Kong Station Development Project marketing strategy is grounded in its mission. The mission for Henderson Land The Bid for the Hong Kong Station Development Project is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project. The knowledge of brand equity will help in shaping Henderson Land The Bid for the Hong Kong Station Development Project marketing strategy effectively – thereby facilitating the growth of business for Henderson Land The Bid for the Hong Kong Station Development Project.

3.1. Brand awareness

• Henderson Land The Bid for the Hong Kong Station Development Project has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for Henderson Land The Bid for the Hong Kong Station Development Project has modified marketing and strategic directives and plans

3.2. Brand association

• Henderson Land The Bid for the Hong Kong Station Development Project is directly associated with the brand name and product category
• Henderson Land The Bid for the Hong Kong Station Development Project has a broad product portfolio
• Henderson Land The Bid for the Hong Kong Station Development Project is associated with promising and delivering quality and innovative products
• Henderson Land The Bid for the Hong Kong Station Development Project is also associated with excellent customer service

3.3. Brand loyalty

• Henderson Land The Bid for the Hong Kong Station Development Project has been successful at gaining high consumer loyalty because of unique and influential marketing strategy
• Henderson Land The Bid for the Hong Kong Station Development Project has a global customer base
• Henderson Land The Bid for the Hong Kong Station Development Project keeps adding value addition to the products and product portfolio to keep consumers engaged

3.4. Brand asset

• Henderson Land The Bid for the Hong Kong Station Development Project has a substantial brand value
• Henderson Land The Bid for the Hong Kong Station Development Project also enjoys the high financial worth
• Henderson Land The Bid for the Hong Kong Station Development Project focuses on building a reliable and robust employee base

3.5. Brand element

• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project

The situational analysis will help in developing the marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project.

4.1. SWOT

4.1.1. Strengths

Henderson Land The Bid for the Hong Kong Station Development Project marketing strategy can benefit from the following internal advantages:

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

4.1.2. Weakness

Henderson Land The Bid for the Hong Kong Station Development Project faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Henderson Land The Bid for the Hong Kong Station Development Project has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Henderson Land The Bid for the Hong Kong Station Development Project faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Henderson Land The Bid for the Hong Kong Station Development Project operates I markets with political stability
• Henderson Land The Bid for the Hong Kong Station Development Project has funding support from the government for small businesses

4.2.2. Economic

• Henderson Land The Bid for the Hong Kong Station Development Project enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for Henderson Land The Bid for the Hong Kong Station Development Project
• Low inflation strengthens the financial position of Henderson Land The Bid for the Hong Kong Station Development Project

4.2.3. Social

• Higher education and awareness increases sales of Henderson Land The Bid for the Hong Kong Station Development Project predict
• Henderson Land The Bid for the Hong Kong Station Development Project focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Henderson Land The Bid for the Hong Kong Station Development Project has an active CSR program
• Henderson Land The Bid for the Hong Kong Station Development Project ensures environmental safety in all its operations

4.2.5. Legal

• Henderson Land The Bid for the Hong Kong Station Development Project is aware of local and global laws of business and human resource management
• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project: The Marketing Strategy of Henderson Land The Bid for the Hong Kong Station Development Project

Henderson Land The Bid for the Hong Kong Station Development Project marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Henderson Land The Bid for the Hong Kong Station Development Project brand and products by 30%
• Increase sales for Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project

Henderson Land The Bid for the Hong Kong Station Development Project marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Henderson Land The Bid for the Hong Kong Station Development Project has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Henderson Land The Bid for the Hong Kong Station Development Project has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Henderson Land The Bid for the Hong Kong Station Development Project, 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 Henderson Land The Bid for the Hong Kong Station Development Project consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Henderson Land The Bid for the Hong Kong Station Development Project focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Henderson Land The Bid for the Hong Kong Station Development Project 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

• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project Positioning of Henderson Land The Bid for the Hong Kong Station Development Project

The marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project focuses on quality control

7.2. Mass marketing

• The marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• Henderson Land The Bid for the Hong Kong Station Development Project makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• Henderson Land The Bid for the Hong Kong Station Development Project does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, Henderson Land The Bid for the Hong Kong Station Development Project 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

• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project

The marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project stands out from the clutter and competition. Henderson Land The Bid for the Hong Kong Station Development Project has also achieved a sustainable competitive advantage in its marketing strategy. This is because of the following factors that Henderson Land The Bid for the Hong Kong Station Development Project has utilized:

8.1. Cost-effectiveness

• Henderson Land The Bid for the Hong Kong Station Development Project focuses on reaching consumers effectively rather than grandeur
• Henderson Land The Bid for the Hong Kong Station Development Project 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
• Henderson Land The Bid for the Hong Kong Station Development Project has in-house copywriters for marketing campaigns which also helps in controlling costs
• Henderson Land The Bid for the Hong Kong Station Development Project also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

• Henderson Land The Bid for the Hong Kong Station Development Project has stayed updated with latest developments in marketing research and marketing knowledge
• Henderson Land The Bid for the Hong Kong Station Development Project makes use of new and innovative tactics to reach its target consumers
• Henderson Land The Bid for the Hong Kong Station Development Project also employs top of the field marketers to facilitate its marketing strategy and promotional campaigns
• Each marketing campaign launched by Henderson Land The Bid for the Hong Kong Station Development Project is effective catchier and more influential than the previous one

8.3. Strong market research and consumer understanding grounded

• Henderson Land The Bid for the Hong Kong Station Development Project marketing strategy is strongly grounded in consumer and market research
• Henderson Land The Bid for the Hong Kong Station Development Project makes informed marketing campaigns and goals based on consumers’ behavioural feedback
• Henderson Land The Bid for the Hong Kong Station Development Project also incorporates consumer feedback in its marketing strategy
• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project
• In addition to fulfilling functional needs, Henderson Land The Bid for the Hong Kong Station Development Project also tries to fulfil the emotional and psychological needs of the consumer
• Henderson Land The Bid for the Hong Kong Station Development Project tries to build a strong emotional bond with the consumer, which also results in high consumer loyalty

9. Distribution Strategy of Henderson Land The Bid for the Hong Kong Station Development Project

Henderson Land The Bid for the Hong Kong Station Development Project marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Henderson Land The Bid for the Hong Kong Station Development Project makes use of intensive distribution strategy because it is mass marketing
• Henderson Land The Bid for the Hong Kong Station Development Project’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, Henderson Land The Bid for the Hong Kong Station Development Project 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

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

9.3. Indirect distribution strategy

• This strategy is largely used for offshore operations where the Henderson Land The Bid for the Hong Kong Station Development Project does not have a subsidiary
• In these offshore locations, Henderson Land The Bid for the Hong Kong Station Development Project largely works through the export model
• This makes use of several intermediaries in between, before the product by Henderson Land The Bid for the Hong Kong Station Development Project reaches the target consumers
• Intermediaries for Henderson Land The Bid for the Hong Kong Station Development Project 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, Henderson Land The Bid for the Hong Kong Station Development Project makes use of selective distribution channel
• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project

The industry in which Henderson Land The Bid for the Hong Kong Station Development Project operates is very responsive to market and consumer trends. Henderson Land The Bid for the Hong Kong Station Development Project, 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

• Henderson Land The Bid for the Hong Kong Station Development Project 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
• Henderson Land The Bid for the Hong Kong Station Development Project 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

• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project

The marketing mix for Henderson Land The Bid for the Hong Kong Station Development Project as per the marketing strategy is the following:

11.1. Product

• Henderson Land The Bid for the Hong Kong Station Development Project has a broad product portfolio
• Henderson Land The Bid for the Hong Kong Station Development Project provides mass marketed products for all segments across the market undifferentiated
• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• Henderson Land The Bid for the Hong Kong Station Development Project also makes use of e-commerce to increase penetration and sales

11.3. Price

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

11.5. People

• Henderson Land The Bid for the Hong Kong Station Development Project has a large workforce across different companies
• This workforce is continually trained to become experts in their respective fields of operations
• Henderson Land The Bid for the Hong Kong Station Development Project hires without discrimination
• Henderson Land The Bid for the Hong Kong Station Development Project ensures that its employees remain motivated through building an inspirational and creative organizational culture
• Henderson Land The Bid for the Hong Kong Station Development Project focuses on also building and maintaining organizational commitment and loyalty in its employees

11.6. Process

• All activities at Henderson Land The Bid for the Hong Kong Station Development Project - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project

11.7. Physical evidence

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

12. Promotional tactics for the marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Henderson Land The Bid for the Hong Kong Station Development Project 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
• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project brand

13. Monitoring and evaluation of the marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project

13.1. Changes in sales

• Henderson Land The Bid for the Hong Kong Station Development Project regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project
• Sometimes, Henderson Land The Bid for the Hong Kong Station Development Project experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Henderson Land The Bid for the Hong Kong Station Development Project can also be seen through the revenue and profit growth
• Return on investment allows Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project 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 Henderson Land The Bid for the Hong Kong Station Development Project