Dastmalchi LLC developed several keys to success when the firm launched. Their “fast follower” strategy led them to penetrate many different markets and target different audiences, while maintaining low operational costs. The company had the ability to predict which new products would be successful in the market and quickly release their own, more affordable, version to the public. This strategy was carried out by the company finding manufactures of the product and repackaging and rebranding the product to make it their own. Rather than using their own resources to innovate and market their own unique products, Dastmalchi found a way to piggyback off the success of others. In addition, to keep costs low, the company uses mainly social media
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The company discovered how powerful a recommendation is from a well-known individual on the internet can be. They harnessed this type of consumer communication for their “social sales approach”. Dastmalchi achieved this by contacting YouTube celebrities and other prevalent social media influencers and offered to send them free products to review and display online. Employees search the internet looking for people who they believe will be successful in driving sales for the firm. These individuals then recommend the products to their audiences, creating a nearly free marketing and advertising force for the firm. Dastmalchi has many strengths and core competencies that fit well with the Vitasigns brand. The company has experience with selling other personal health products, which gives them some knowledge as to how to lead the brand. Not only to they have the experience, but they also have success in this field. For example Dasmalchi is also good at forecasting and predicting where the market and buyers are going, therefore this could keep them ahead of the curve when creating and selling the products in the …show more content…
For example, for the devices in the Vitasigns line work in sync with one another, the company cannot continue to get the products from different manufacturers. Buying the products from different manufacturers with the purpose repackage them means that the systems in which the products operate on are all different as well. This is not desirable from a customer’s perspective because they would like all of their products to work together to able them to track their health to the best of their abilities. The marketing strategy of the company also does not fit well with the Vitasigns brand. The current “social sales” approach is geared towards the millennial generation, i.e. people between the ages of 18 to mid-30s. However, the products in the Vitasigns’ line attract an older crowd, such as the baby boomers. This generation requires a different marketing strategy to make them aware of the product and interest them in buying it. Due to the quick evolution in technology, Dastmalchi’s “fast follower” strategy will also not work well with the products offered in the Vitasigns line. By the time the company is aware of new devices, finds a low cost manufacturer, and repackages it to sell under their umbrella, the technology in the device will already be
The company discovered how powerful a recommendation is from a well-known individual on the internet can be. They harnessed this type of consumer communication for their “social sales approach”. Dastmalchi achieved this by contacting YouTube celebrities and other prevalent social media influencers and offered to send them free products to review and display online. Employees search the internet looking for people who they believe will be successful in driving sales for the firm. These individuals then recommend the products to their audiences, creating a nearly free marketing and advertising force for the firm. Dastmalchi has many strengths and core competencies that fit well with the Vitasigns brand. The company has experience with selling other personal health products, which gives them some knowledge as to how to lead the brand. Not only to they have the experience, but they also have success in this field. For example Dasmalchi is also good at forecasting and predicting where the market and buyers are going, therefore this could keep them ahead of the curve when creating and selling the products in the …show more content…
For example, for the devices in the Vitasigns line work in sync with one another, the company cannot continue to get the products from different manufacturers. Buying the products from different manufacturers with the purpose repackage them means that the systems in which the products operate on are all different as well. This is not desirable from a customer’s perspective because they would like all of their products to work together to able them to track their health to the best of their abilities. The marketing strategy of the company also does not fit well with the Vitasigns brand. The current “social sales” approach is geared towards the millennial generation, i.e. people between the ages of 18 to mid-30s. However, the products in the Vitasigns’ line attract an older crowd, such as the baby boomers. This generation requires a different marketing strategy to make them aware of the product and interest them in buying it. Due to the quick evolution in technology, Dastmalchi’s “fast follower” strategy will also not work well with the products offered in the Vitasigns line. By the time the company is aware of new devices, finds a low cost manufacturer, and repackages it to sell under their umbrella, the technology in the device will already be