Marketing Strategy Essay Sample
This is an outline of the product the firm has offered to the market and its defined characteristics. It further explains the product branding strategy and the product line of the product. It also elaborates the product depth, breadth and how product and target market strategies fits in the organizational strategy.
The product this company is going to offer to the market bares the name bio cell. Firstly, take the corn grains and steep them in water to produce amylase enzymes which act on the large carbohydrate molecule to the smallest unit which is actually glucose (Lynch,1974). Mill the grains. In the making, this cell is made up of a plastic container containing powdered corn and carbon rods as the electrodes. Yeast (Saccharomyces cerevisiae) is introduced which is actually the micro-organism which ferments the electrolyte which is actually the corn powder. Workable mixing proportions would be 1:4:20. i.e. 1g yeast: 4g corn: 20ml sugar (Lynch,1974). This yields some free and mobile ions which gives rise to electricity when the circuit is completed. Due to the difference in electric potential, between the cathode and the anode then it follows that the anions and electrons will be attracted to the anode whereas the cataions will be attracted to the cathode hence complete the circuit (Lynch,1974).
Some of the characteristics are; firstly it high energy density and safety due to the fact that they use renewable energy (Lynch,1974). The reason behind this is that, there are some bioelectrochemical processes which accomplish very high power density. Secondly, this is an economical kind of cell. The raw materials in the entire making are cheaply available and of low cost (Lynch,1974). This makes it to earn an upper hand in the entire market since it makes heavy profits hence attain the organizational strategy.
The product branding strategy applied here is the individual product branding. This is basically a marketing strategy of giving each product a unique brand name of which for our case is bio cell (Aaker, 1991). The advantage of this branding strategy is that each product has a unique image and identity. Again, it facilitates the positioning of each product, by allowing the firm to position its brands differently (Aaker, 1991). In this respect, the product will bare the name Bio Cell. This name gives the brand to stand on its on thus lessening threats posed to other products of the same company. This gives the product an outstanding advantage incase another company brands receives a negative publicity, the company’s brand will go unaffected (Aaker, 1991). In addition, brands create financial gains through the concept of brand equity.
Product line can be defined as a group of products clubbed together because they satisfy: a particular class of needs, or are used together, or possess common physical or technical characteristics (Aaker, 1991). In definition, product breadth refers to the number of product lines marketed by the firm, whereas depth to the number of product mix refers to the degree of similarity between product lines in end use, production techniques and distribution channels among others. Bio cell very well fits in the broad product line of electricity generating cells. This is because this product line is used purposely to power electric devices and produce current liable for lighting electric bulbs (Kurtz, 2010). In addition to this, this product line posses a common technical characteristics such as reduction of current supply with time given same operating environment, the density of the electrolyte in application increases with time due to the evaporation element and also the charge carrier is an ion that moves through the electrolyte.
In reference to the product depth here, there is very close similarity in the end use of the product mix in the line. This is due to the fact that, their respective production technique is similar (Aaker, 1991). The basic idea in the production of electric cells is that, the producer must have a component which serves as the electrolyte, another one which serves as the electrodes and lastly some means of depolarization to increase the efficiency of the cells operation. In these sense, it is outright that bio cell very well captures product mix depth of electric cells (Aaker, 1991).
The correct business strategy is the essential first step to attain high performance but for one to achieve high-octane results organizational structure must be aligned with business goals (Aaker, 1991).
Basically, organizational strategy is a clear definition of how the organization needs to change over time so as to deliver the strategy of the enterprise and a clear plan on how to achieve the transformation (Kurtz, 2010). Product and target market strategies very well fits in the organizational strategy. Firstly, selective specialization strategy wonderfully fits in this case. Here, several marketing mixes are implemented in different segments where the same product is marketed differently in different segments (Kurtz, 2010). For example, demographically the both the rich and the poor can comfortably afford this product because it is relatively cheap as compared to other electric cells (Kurtz, 2010). Due to this reason the sales volume will be high which leads to heavy proceeds to the firm hence attaining the real organizational strategy.
Secondly, we have the product specialization strategy (Kurtz, 2010). In this case the product is customized and then marked so as to cater for different market segments. Bio cell is customized so as to cater for different market segments such as geographical and demographic market segments (Kurtz, 2010). Geographically it is meant to survive all climatic conditions like high temperatures in deserts, rainy and snow in high lands. It is for this reason that it will be of high preference to a larger group of buyers hence heavy sales (Kurtz, 2010). Again demographically, it is tailored to suit all members of the society despite the level of the their earnings both the rich and the poor (Aaker, 1991). With all these the organizational strategy will have been enhanced as it is purposely profit maximization which is brought by high volume of sales as evident.
Lastly, we have the Full Market Coverage Strategy where the firm uses this strategy when it wants to serve the mass market (Kurtz, 2010). In this case a single marketing mix can be used to carter for the segments made in the entire market. As the firm struggles to carter for the mass market the more it improves its sales volume (Kurtz, 2010). It follows that the high the sales volume the high the profits hence profit maximization goal is attained which is in line with the organizational strategy. The product will also be a clear boost of the organizational strategy due to the fact that it is out standing in its features and making (Kurtz, 2010). This means that many buyers will opt to go for this product leading to voluminous sales which yields heavy profits, hence in line with the organizational strategy.
This writing is elaborative enough on how the organizational strategy of the firm is achieved which is profit maximization. This basically starts with product itself that is bio cell and the strategies in force to attain the goals.