MAR009-6 MARKETING
ASSESSMENT 2
INDIVIDUAL REPORT
“The London Oil Refining Company Ltd.”
“Astonish uPVC Cream Cleaner”
Written and Submitted by:
NAME – Saikat Panja
Student ID - 1223846
SUBMISSION DATE:
Monday 26TH JANUARY 2015 Introduction
Target Market
‘Companies cannot connect with all customers in large, broad or diverse markets. However, they can divide such markets into groups of customers or segments with distinct needs and wants. A company then needs to identify which market segments it can serve effectively and efficiently. This decision requires a keen understanding of customer behavior and careful strategic thinking. To develop the best marketing plans, managers need to understand what makes each segment unique and different. Their next task is to explore specific ways in which companies can effectively position and differentiate their market offerings to achieve a competitive advantage.’
As seen in my earlier assessment the product which I chose is very costly and they are not found in many shops like Poundland, 99p …show more content…
Differentiation looks to make a product more attractive by contrasting its unique qualities with other competing products. Successful product differentiation creates a competitive advantage for the seller, as customers view these products as unique or superior.’
So, in simple words we can say that how to show my product different from my rivals. It is the difference between two products. A differentiation can be just a change in marketing like new types of advertising or sales promotions and nothing else. All the features can remain same. Or it can be the features of the product, packaging of the products etc. Hence in differentiation the special features and small details which sometimes becomes the highlighting points of the products. It can also be said that the products are changing with the change in the taste and
ASSESSMENT 2
INDIVIDUAL REPORT
“The London Oil Refining Company Ltd.”
“Astonish uPVC Cream Cleaner”
Written and Submitted by:
NAME – Saikat Panja
Student ID - 1223846
SUBMISSION DATE:
Monday 26TH JANUARY 2015 Introduction
Target Market
‘Companies cannot connect with all customers in large, broad or diverse markets. However, they can divide such markets into groups of customers or segments with distinct needs and wants. A company then needs to identify which market segments it can serve effectively and efficiently. This decision requires a keen understanding of customer behavior and careful strategic thinking. To develop the best marketing plans, managers need to understand what makes each segment unique and different. Their next task is to explore specific ways in which companies can effectively position and differentiate their market offerings to achieve a competitive advantage.’
As seen in my earlier assessment the product which I chose is very costly and they are not found in many shops like Poundland, 99p …show more content…
Differentiation looks to make a product more attractive by contrasting its unique qualities with other competing products. Successful product differentiation creates a competitive advantage for the seller, as customers view these products as unique or superior.’
So, in simple words we can say that how to show my product different from my rivals. It is the difference between two products. A differentiation can be just a change in marketing like new types of advertising or sales promotions and nothing else. All the features can remain same. Or it can be the features of the product, packaging of the products etc. Hence in differentiation the special features and small details which sometimes becomes the highlighting points of the products. It can also be said that the products are changing with the change in the taste and