The paper "Marketing Products And Services In A Dynamic Environment" is a wonderful example of a Marketing Case Study. Before a company decides to penetrate into a new market, it must consider if the product has the features which can enable it to excel in the market. The Lucozade brand can be assimilated into the market if the company conducts some research to understand consumer buying behavior in the Omani market. The cultural and demographic factors should be considered when understanding consumer buying behavior (Ghodeswar 2008). These factors are important when deciding to penetrate into new markets.
The internet can be used to address issues of the customers and can be done candidly or collectively. Individuals who have aged ten years and above use the internet and this implies that the product can be introduced in the market by using the internet and social media. The Target Market It is important that when an organization wants to introduce a product into the new market to understand the target market. This is important as it helps the marketing team to concentrate on marketing the product within the target market.
The main aim of segmenting the product is to ensure that effective marketing strategies are applied in each market segment to create a competitive advantage in the market segment (Ghodeswar 2008). In this effect, the Omani market can be segmented by factors such as the geographic location of the customers, demographic and the behavior of the customers. Geographic segment Lucozade product will first be introduced in the Muscat area because the population in the area is higher. This implies that there will be a large market for the product (Hanzaee & Farsani 2011).
Transport and communication network is effective in Muscat therefore marketing and distribution of the product will be easy and effective. Demographic The main target of the Lucozade market is the people aged between the years of 15 and 35. This age gap is important because these people need much energy to conduct their vigorous activities hence they will be attracted to the brand (Hanzaee & Farsani 2011). Behavioral The market will also be segmented according to the attitude of the customers (Hanzaee & Farsani 2011). The marketing team should be able to consider the behavior of the customers and develop the brand which can create loyalty among the customers. Psychographic This is the segment that targets sports people like athletes (Hanzaee & Farsani 2011).
This is because Lucozade will provide the energy they need to help them regain energy after they have been involved in a vigorous exercise. Analysis of the competitors The reputation of the brand helps to improve the competitive advantage of the product in the market by differentiating the product from those of the competitors. The marketing team will develop a plan to create a competitive advantage of the product in the market.
They should consider the methods which are applied by the competitors in the Omani market and develop features that will differentiate the product from those of the competitors (Kaplan & Haenlein 2009). For instance, the product should be priced on a competitive basis and it should be packed attractively to make it look different from those of the competitors. In addition, the logo should be attractive to attract the attention of the customers.
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