Marketing strategy of Resuscitating Monitter

Posted by Zander Henry on Aug-22-2018

1. The vision of Resuscitating Monitter

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

Resuscitating Monitter marketing strategy is grounded in its mission. The mission for Resuscitating Monitter is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Resuscitating Monitter 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 Resuscitating Monitter

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

3.1. Brand awareness

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

3.2. Brand association

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

3.3. Brand loyalty

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

3.4. Brand asset

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

3.5. Brand element

• Resuscitating Monitter 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 Resuscitating Monitter

The situational analysis will help in developing the marketing strategy of Resuscitating Monitter 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 Resuscitating Monitter.

4.1. SWOT

4.1.1. Strengths

Resuscitating Monitter marketing strategy can benefit from the following internal advantages:

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

4.1.2. Weakness

Resuscitating Monitter faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Resuscitating Monitter has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Resuscitating Monitter faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Resuscitating Monitter operates I markets with political stability
• Resuscitating Monitter has funding support from the government for small businesses

4.2.2. Economic

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

4.2.3. Social

• Higher education and awareness increases sales of Resuscitating Monitter predict
• Resuscitating Monitter focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Resuscitating Monitter has an active CSR program
• Resuscitating Monitter ensures environmental safety in all its operations

4.2.5. Legal

• Resuscitating Monitter is aware of local and global laws of business and human resource management
• Resuscitating Monitter 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 Resuscitating Monitter: The Marketing Strategy of Resuscitating Monitter

Resuscitating Monitter marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Resuscitating Monitter brand and products by 30%
• Increase sales for Resuscitating Monitter 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 Resuscitating Monitter 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 Resuscitating Monitter

Resuscitating Monitter marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Resuscitating Monitter has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Resuscitating Monitter has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Resuscitating Monitter, 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 Resuscitating Monitter consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Resuscitating Monitter focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Resuscitating Monitter 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

• Resuscitating Monitter 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 Resuscitating Monitter 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 Resuscitating Monitter, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Resuscitating Monitter 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 Resuscitating Monitter Positioning of Resuscitating Monitter

The marketing strategy of Resuscitating Monitter targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Resuscitating Monitter 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 Resuscitating Monitter focuses on quality control

7.2. Mass marketing

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

7.3. Undifferentiated marketing strategy

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

• Resuscitating Monitter 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 Resuscitating Monitter 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 Resuscitating Monitter

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

8.1. Cost-effectiveness

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

8.2. Innovation

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

8.3. Strong market research and consumer understanding grounded

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

9. Distribution Strategy of Resuscitating Monitter

Resuscitating Monitter marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Resuscitating Monitter makes use of intensive distribution strategy because it is mass marketing
• Resuscitating Monitter’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, Resuscitating Monitter 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

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

9.3. Indirect distribution strategy

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

The industry in which Resuscitating Monitter operates is very responsive to market and consumer trends. Resuscitating Monitter, 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

• Resuscitating Monitter 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
• Resuscitating Monitter 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

• Resuscitating Monitter 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 Resuscitating Monitter

The marketing mix for Resuscitating Monitter as per the marketing strategy is the following:

11.1. Product

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

11.2. Place

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

11.3. Price

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

11.5. People

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

11.6. Process

• All activities at Resuscitating Monitter - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Resuscitating Monitter 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 Resuscitating Monitter

11.7. Physical evidence

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

12. Promotional tactics for the marketing strategy of Resuscitating Monitter

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Resuscitating Monitter 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
• Resuscitating Monitter 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 Resuscitating Monitter brand

13. Monitoring and evaluation of the marketing strategy of Resuscitating Monitter

13.1. Changes in sales

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

13.2. Surveys and focus groups

• Resuscitating Monitter 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 Resuscitating Monitter to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Resuscitating Monitter can also be seen through the revenue and profit growth
• Return on investment allows Resuscitating Monitter 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 Resuscitating Monitter 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 Resuscitating Monitter