MARKETING

Marketing Strategies for Cima Mountaineering Limited



Table of Contents

Analysis of the Case study1

Marketing Strategies1

Introduction Stage2

Growth Stage4

Maturity Stage5

Declining Stage7

Recommendations for Marketing Strategies for Cima8

SWOT Analysis8

Segmentation9

Bases of Segmentation11

Geographic Segmentation11

Demographic Segmentation12

Psychographic segmentation12

Behavioural Segmentation12

Advantages and Disadvantages Of Different Segmentation Strategies13

Targeting strategies16

Different Kinds of Targeting Strategies16

Advertise to Target Audience16

Positioning17

Process17

Strategies18

Conclusion19

References20

Marketing Strategies for Cima Mountaineering Limited

Analysis of the Case study

For the purpose of understanding various aspects of market before entering that market, we have analyzed the case study of Cima Mountainerring Limited in order to understand and evaluate its marketing strategies and different methods adopted by it.

Marketing Strategies

Formally, the development of a marketing strategy involves the diagnostic analysis (analysis external, internal analysis and diagnosis), target settings. Also, the choice of options fundamentally the (target, source volume, positioning, brand) and priority setting before developing a marketing strategy must be assessed (Villanueva et al. 2003: 9). In addition, the formulation and evaluation of the marketing mix is also an integral part of developing marketing strategy a company.

For this purpose, as shown in below figure, companies need to analyze and decide various strategies, regardless of the situation in which the company is. Such situations may include a new entrant (that is, a new company in the industry), a growing firm, maturing firm, or a declining firm. The list of strategies is listed in the above figure and requires a separate and in-depth analysis for each of the strategies (Zanias 1994: 601).

It is important to understand different strategies that can be taken in different situations of a company. The strategies are discussed below:

We have distinguished four phases that are introduction, growth, maturity, and decline.

Figure 1: Marketing Strategies [Source: (Steenkamp et al. 2003: 153)]

Introduction Stage

In the introduction stage, there is reduced sales and slow growth of a company. The creation of demand at this stage is fraught with uncertainty and risk, because the product is still poorly understood (Srinivasan et al. 2000: 159). Its duration depends on the product's complexity, its degree of novelty, and its adaptation to consumer needs and the presence of substitutes in one way or another. The benefits in this stage are negative for a company.

Further, promotional expenditures are at their highest level in terms of sales due to the need for marketing in order to inform potential consumers, inducing product testing and ensuring the distribution to retail outlets.

When launching a new product, marketing management can set a higher or lower level for each of the marketing variables (price, promotion, distribution, product quality). If we consider only price and promotion, management can take one of four strategies (Slywotzky et al. 2003: 99):

Fat fast: The new product is launched with a high price and high promotion. Such a strategy makes sense when marking to consumers who have no product knowledge.

Skim slow: The new product is launched with a high price and little promotion. Such a strategy makes sense when the potential market is not very big, almost the entire market is aware of the product, buyers are willing to pay a high price, and competition ...