A strategic marketing plan starts with a clearly defined business mission. Mintzberg defines a mission as follows:
“A mission describes the organization’s basic function in society, in terms of the products and services it produces for its customers”.
A clear business mission should have each of the following elements:
STRENGTH
MARKETING MIX:
Product:
Café Coffee Day product mix constitutes a wide range of products that appeal primarily to Indian coffee and snack lovers. Products have a decided Indian taste to it – be it food or coffee. Most of the eatables have been adopted to meet the Indian taste buds like samosa, biryani, masala sandwich, tikka sandwich etc. Thus they have been trying to capture the Indian taste along with classic coffee.The best selling item in summer is frappe, which is coffee and ice cream blended together. The young people favor it. In winter it is cappuccino. Their merchandising includes funky stuff like t-shirts, caps etc.
Product
The products of Sony Ericsson include Mobile Phones and Accessories. The range of Sony Ericsson’s Phones & Accessories is class apart from others. The mobiles are designed keeping in mind wide range of customers and usage.
How to measure satisfaction? Perhaps the toughest of the jobs of a marketer. There are no meters to measure it; like thermometer for temperature. It is a subjective exercise but very important for marketer’s point of view. Let us see how we can do it.
The product concept proposes that consumers will prefer products that have better quality, performance and features as opposed to a normal product. The concept is truly applicable in some niches such as electronics and mobile handsets.
Two companies which stand apart from the crowd when we talk about the product concept are Apple and google. Both of these companies have strived hard on their products and deliver us feature rich, innovative and diverse application products and people just love these brands.
Our premise is that customers will buy from the firm that they see as offering the highest perceived value. Customer perceived value (CPV) is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives. Total customer value is the perceived monetary value of the bundle or economic, functional, and psychological benefits customers expect from a given market offering. Total customer cost is the bundle of costs customers expect to incur in evaluating, obtaining , using, and disposing of the given marketing officering.
According to received branding wisdom, the best way to become a strong brand is to be first in a new category. This theory has been repeatedly emphasized by the world-renowned brand guru Al Ries.
‘Customers don’t really care about new brands, they care about new categories,’ he writes in The 22 Immutable Laws of Branding. ‘By first preempting the category and then aggressively promoting the category, you create both a powerful brand and a rapidly escalating market.’
Products
Parachute is premium edible grade coconut oil, a market leader in its category. Synonymous with pure coconut oil in the market & is positioned on the platform of purity. Parachute thus enjoys tremendous equity, trust with every passing generation & loyalty in the urban as well as rural sectors of India. Innovations in the packaging whether from the aspect of user-friendliness or aesthetics have and continue to help Parachute grow.
Today’s Discussion
