Marketing strategy of The College of William Mary Renew or Resign

Posted by Zander Henry on Aug-22-2018

1. The vision of The College of William Mary Renew or Resign

The vision of The College of William Mary Renew or Resign is to be the leading quality service and product provider for customers. Being the best and the leading player means that The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign

The College of William Mary Renew or Resign marketing strategy is grounded in its mission. The mission for The College of William Mary Renew or Resign is to be the favorite brand of the customers. This mission is essential for the marketing strategy of The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of The College of William Mary Renew or Resign. The knowledge of brand equity will help in shaping The College of William Mary Renew or Resign marketing strategy effectively – thereby facilitating the growth of business for The College of William Mary Renew or Resign.

3.1. Brand awareness

• The College of William Mary Renew or Resign has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for The College of William Mary Renew or Resign has modified marketing and strategic directives and plans

3.2. Brand association

• The College of William Mary Renew or Resign is directly associated with the brand name and product category
• The College of William Mary Renew or Resign has a broad product portfolio
• The College of William Mary Renew or Resign is associated with promising and delivering quality and innovative products
• The College of William Mary Renew or Resign is also associated with excellent customer service

3.3. Brand loyalty

• The College of William Mary Renew or Resign has been successful at gaining high consumer loyalty because of unique and influential marketing strategy
• The College of William Mary Renew or Resign has a global customer base
• The College of William Mary Renew or Resign keeps adding value addition to the products and product portfolio to keep consumers engaged

3.4. Brand asset

• The College of William Mary Renew or Resign has a substantial brand value
• The College of William Mary Renew or Resign also enjoys the high financial worth
• The College of William Mary Renew or Resign focuses on building a reliable and robust employee base

3.5. Brand element

• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign

The situational analysis will help in developing the marketing strategy of The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign.

4.1. SWOT

4.1.1. Strengths

The College of William Mary Renew or Resign marketing strategy can benefit from the following internal advantages:

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

4.1.2. Weakness

The College of William Mary Renew or Resign faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

The College of William Mary Renew or Resign has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

The College of William Mary Renew or Resign faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• The College of William Mary Renew or Resign operates I markets with political stability
• The College of William Mary Renew or Resign has funding support from the government for small businesses

4.2.2. Economic

• The College of William Mary Renew or Resign enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for The College of William Mary Renew or Resign
• Low inflation strengthens the financial position of The College of William Mary Renew or Resign

4.2.3. Social

• Higher education and awareness increases sales of The College of William Mary Renew or Resign predict
• The College of William Mary Renew or Resign focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• The College of William Mary Renew or Resign has an active CSR program
• The College of William Mary Renew or Resign ensures environmental safety in all its operations

4.2.5. Legal

• The College of William Mary Renew or Resign is aware of local and global laws of business and human resource management
• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign: The Marketing Strategy of The College of William Mary Renew or Resign

The College of William Mary Renew or Resign marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for The College of William Mary Renew or Resign brand and products by 30%
• Increase sales for The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign

The College of William Mary Renew or Resign marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

The College of William Mary Renew or Resign has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• The College of William Mary Renew or Resign has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for The College of William Mary Renew or Resign, 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 The College of William Mary Renew or Resign consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• The College of William Mary Renew or Resign focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

The College of William Mary Renew or Resign 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

• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign Positioning of The College of William Mary Renew or Resign

The marketing strategy of The College of William Mary Renew or Resign targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign focuses on quality control

7.2. Mass marketing

• The marketing strategy of The College of William Mary Renew or Resign focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• The College of William Mary Renew or Resign makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• The College of William Mary Renew or Resign does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, The College of William Mary Renew or Resign 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

• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign

The marketing strategy of The College of William Mary Renew or Resign stands out from the clutter and competition. The College of William Mary Renew or Resign has also achieved a sustainable competitive advantage in its marketing strategy. This is because of the following factors that The College of William Mary Renew or Resign has utilized:

8.1. Cost-effectiveness

• The College of William Mary Renew or Resign focuses on reaching consumers effectively rather than grandeur
• The College of William Mary Renew or Resign 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
• The College of William Mary Renew or Resign has in-house copywriters for marketing campaigns which also helps in controlling costs
• The College of William Mary Renew or Resign also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

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

8.3. Strong market research and consumer understanding grounded

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

9. Distribution Strategy of The College of William Mary Renew or Resign

The College of William Mary Renew or Resign marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• The College of William Mary Renew or Resign makes use of intensive distribution strategy because it is mass marketing
• The College of William Mary Renew or Resign’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, The College of William Mary Renew or Resign 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

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

9.3. Indirect distribution strategy

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

The industry in which The College of William Mary Renew or Resign operates is very responsive to market and consumer trends. The College of William Mary Renew or Resign, 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

• The College of William Mary Renew or Resign 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
• The College of William Mary Renew or Resign 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

• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign

The marketing mix for The College of William Mary Renew or Resign as per the marketing strategy is the following:

11.1. Product

• The College of William Mary Renew or Resign has a broad product portfolio
• The College of William Mary Renew or Resign provides mass marketed products for all segments across the market undifferentiated
• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• The College of William Mary Renew or Resign also makes use of e-commerce to increase penetration and sales

11.3. Price

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

11.5. People

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

11.6. Process

• All activities at The College of William Mary Renew or Resign - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign

11.7. Physical evidence

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

12. Promotional tactics for the marketing strategy of The College of William Mary Renew or Resign

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The The College of William Mary Renew or Resign 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
• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign brand

13. Monitoring and evaluation of the marketing strategy of The College of William Mary Renew or Resign

13.1. Changes in sales

• The College of William Mary Renew or Resign regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of The College of William Mary Renew or Resign
• Sometimes, The College of William Mary Renew or Resign experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of The College of William Mary Renew or Resign can also be seen through the revenue and profit growth
• Return on investment allows The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign 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 The College of William Mary Renew or Resign