Marketing strategy of Pikosystems Goes Abroad

Posted by Zander Henry on Aug-22-2018

1. The vision of Pikosystems Goes Abroad

The vision of Pikosystems Goes Abroad is to be the leading quality service and product provider for customers. Being the best and the leading player means that Pikosystems Goes Abroad 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 Pikosystems Goes Abroad

Pikosystems Goes Abroad marketing strategy is grounded in its mission. The mission for Pikosystems Goes Abroad is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Pikosystems Goes Abroad 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 Pikosystems Goes Abroad

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

3.1. Brand awareness

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

3.2. Brand association

• Pikosystems Goes Abroad is directly associated with the brand name and product category
• Pikosystems Goes Abroad has a broad product portfolio
• Pikosystems Goes Abroad is associated with promising and delivering quality and innovative products
• Pikosystems Goes Abroad is also associated with excellent customer service

3.3. Brand loyalty

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

3.4. Brand asset

• Pikosystems Goes Abroad has a substantial brand value
• Pikosystems Goes Abroad also enjoys the high financial worth
• Pikosystems Goes Abroad focuses on building a reliable and robust employee base

3.5. Brand element

• Pikosystems Goes Abroad 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 Pikosystems Goes Abroad

The situational analysis will help in developing the marketing strategy of Pikosystems Goes Abroad 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 Pikosystems Goes Abroad.

4.1. SWOT

4.1.1. Strengths

Pikosystems Goes Abroad marketing strategy can benefit from the following internal advantages:

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

4.1.2. Weakness

Pikosystems Goes Abroad faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Pikosystems Goes Abroad has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Pikosystems Goes Abroad faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Pikosystems Goes Abroad operates I markets with political stability
• Pikosystems Goes Abroad has funding support from the government for small businesses

4.2.2. Economic

• Pikosystems Goes Abroad enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for Pikosystems Goes Abroad
• Low inflation strengthens the financial position of Pikosystems Goes Abroad

4.2.3. Social

• Higher education and awareness increases sales of Pikosystems Goes Abroad predict
• Pikosystems Goes Abroad focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Pikosystems Goes Abroad has an active CSR program
• Pikosystems Goes Abroad ensures environmental safety in all its operations

4.2.5. Legal

• Pikosystems Goes Abroad is aware of local and global laws of business and human resource management
• Pikosystems Goes Abroad 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 Pikosystems Goes Abroad: The Marketing Strategy of Pikosystems Goes Abroad

Pikosystems Goes Abroad marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Pikosystems Goes Abroad brand and products by 30%
• Increase sales for Pikosystems Goes Abroad 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 Pikosystems Goes Abroad 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 Pikosystems Goes Abroad

Pikosystems Goes Abroad marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Pikosystems Goes Abroad has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Pikosystems Goes Abroad has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Pikosystems Goes Abroad, 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 Pikosystems Goes Abroad consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Pikosystems Goes Abroad focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Pikosystems Goes Abroad 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

• Pikosystems Goes Abroad 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 Pikosystems Goes Abroad 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 Pikosystems Goes Abroad, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Pikosystems Goes Abroad 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 Pikosystems Goes Abroad Positioning of Pikosystems Goes Abroad

The marketing strategy of Pikosystems Goes Abroad targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Pikosystems Goes Abroad 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 Pikosystems Goes Abroad focuses on quality control

7.2. Mass marketing

• The marketing strategy of Pikosystems Goes Abroad focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• Pikosystems Goes Abroad makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• Pikosystems Goes Abroad does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, Pikosystems Goes Abroad 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

• Pikosystems Goes Abroad 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 Pikosystems Goes Abroad 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 Pikosystems Goes Abroad

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

8.1. Cost-effectiveness

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

8.2. Innovation

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

8.3. Strong market research and consumer understanding grounded

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

9. Distribution Strategy of Pikosystems Goes Abroad

Pikosystems Goes Abroad marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Pikosystems Goes Abroad makes use of intensive distribution strategy because it is mass marketing
• Pikosystems Goes Abroad’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, Pikosystems Goes Abroad 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

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

9.3. Indirect distribution strategy

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

The industry in which Pikosystems Goes Abroad operates is very responsive to market and consumer trends. Pikosystems Goes Abroad, 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

• Pikosystems Goes Abroad 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
• Pikosystems Goes Abroad 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

• Pikosystems Goes Abroad 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 Pikosystems Goes Abroad

The marketing mix for Pikosystems Goes Abroad as per the marketing strategy is the following:

11.1. Product

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

11.2. Place

• Pikosystems Goes Abroad 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 Pikosystems Goes Abroad also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• Pikosystems Goes Abroad also makes use of e-commerce to increase penetration and sales

11.3. Price

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

11.5. People

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

11.6. Process

• All activities at Pikosystems Goes Abroad - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Pikosystems Goes Abroad 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 Pikosystems Goes Abroad

11.7. Physical evidence

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

12. Promotional tactics for the marketing strategy of Pikosystems Goes Abroad

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Pikosystems Goes Abroad 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
• Pikosystems Goes Abroad 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 Pikosystems Goes Abroad brand

13. Monitoring and evaluation of the marketing strategy of Pikosystems Goes Abroad

13.1. Changes in sales

• Pikosystems Goes Abroad regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of Pikosystems Goes Abroad
• Sometimes, Pikosystems Goes Abroad experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• Pikosystems Goes Abroad 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 Pikosystems Goes Abroad to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Pikosystems Goes Abroad can also be seen through the revenue and profit growth
• Return on investment allows Pikosystems Goes Abroad 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 Pikosystems Goes Abroad 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 Pikosystems Goes Abroad