Marketing Strategy

Marketing Strategy of Frizzogg Brand

Introduction

The launch of Fizzogg's Brand in the consumer market would be a great opportunity for the owners of the company to create a business strategy for achieving their aims and objectives. The proper marketing strategy would assist the company in surviving the initial phase of the product lifecycle. Then after surviving the initial phase, company can look towards in establishing their brand image and attracting maximum people towards their brand. This can be achieved either with the help of product strategy, pricing strategy and effective advertising campaign. Marketing executives of Fizzogg Brand would need to consider all these options before coming out with a marketing plan for the business. Therefore, all issues related to Marketing Strategy of Fizzogg Brand will be discussed in detail.

Marketing Strategy of Fizzogg Brand

The marketing strategy of Fizzogg Brand is going to be one of the most important factors for Fizzogg Brand. This factor forms the overall direction for the whole company. Since, Fizzogg Brand is going to be the new product in the market; they would need an effective marketing plan to start their operations on a polite note. There are some of the issues having relation to marketing strategy that needs to be satisfied by every company operating in the business environment. The first step that Fizzogg brand would take is to create a generic business strategy for their operations. Strategy research has focused largely on factors outside the firm such as market conditions and competition. The famous theorist known as Porter in 1980 identified three generic strategies: differentiation, cost leadership, and a third he called focus. All of these strategies, though not mutually exclusive, based upon issues dealing with competition and barriers to entry. These theories foresee the firm's position in the market and strategy based upon five market forces. These five market forces are a threat of new entrants, rivalry within the industry, buyer power, supplier power, and threat of substitution. Porter's generic strategies are based in industrial economics. As such, the above forces, said to determine industry profitability. Porter postulates that a firm may pursue superior performance by employing the five market forces to select an attractive industry, or by selecting a, strong competitive, position within an industry; that is, become a cost leader, a differentiator, or become focused. As can be seen, the emphasis in this work suggests that a firm's success or lack thereof, deals with the selection of the industry in which to compete and the strategic choice employed within that industry. As mentioned previously, this view of strategy, based upon traditional industrial organization theory; that is, the structure conduct performance paradigm. This paradigm utilizes a value chain analysis in deciding strategic position, which by its, precise nature are competition and market oriented, incorporating the market forces already discussed (Alderson, 1957, 75).

Fizzogg Brand would need to analyze Porter's view of strategy because it is externally (market) oriented, dealing primarily with the opportunities and threats with which a firm must ...