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Mahalo Hawaii Deep-Sea Marketing Case Study

Autor:   •  March 26, 2018  •  1,355 Words (6 Pages)  •  158 Views

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In each quadrant of the matrix the appropriate strategies are enlisted in sequential order for each organization or division keeping in view the attractiveness in each quadrant of the matrix:

Quadrant 1 - firms which are in a strong competitive position and flourishing with rapid market growth. Firms located in this quadrant are in excellent strategic position and they need to concentrate on current markets and products.

Quadrant 2 - firms and divisions are characterized with a weak competitive position in fast growing market.

Quadrant 3 - firms are operating in a slow growth industry with a weak competitive position. These firms are prone to further decline which may result possibly in liquidation.

Quadrant 4 - firms are characterized as having a strong competitive position but are operating in a slow growth industry.

Market Demand and Company Demand

To estimate current demand, companies attempt to determine total market potential, area market potential, industry sales, and market share. To estimate future demand, companies survey buyers’ intentions, gather expert opinions, and/or engage in market testing.

Ansoff Matrix

The Ansoff Matrix provides four different growth strategies:

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- Marketing Penetration Strategy - the company tries to grow using its existing offerings (products and services) in existing markets. In other words, it tries to increase its market share in current market scenario. This involves increasing market share within existing market segments.

- Market Development Strategy - the company tries to expand into new markets (geographies, countries etc.) using its existing offerings.

- Product Development Strategy - the company tries to create new products and services targeted at its existing markets to achieve growth.

- Diversification - the company tries to grow its market share by introducing new offerings in new markets.

Alternative courses of Action

ACA 1. Focus on developing market development strategies. Ocean Blue may implement the same marketing strategies similar to how it was marketed in Hawaii because of some similarities of the islands.

PROS

CONS

- Because the Philippines is an island country, it has several similarities in Hawaii that can be marketed the same way

- May be cost effective because it will use the same marketing materials

- There might be slight difference in culture

- Philippine market may not be able to relate to existing campaign

ACA 2. Focus on developing market penetration strategies. Tailor marketing campaigns based on the characteristics of the market. Prioritize on market research and grow market intelligence to identify the key messaging for marketing campaigns

PROS

CONS

- More realistic approach in identifying the market

- Marketing campaigns will show local flavor

- Development of campaigns are backed by reliable data because of market research

- Market acceptance of the product

- May be costly due to resources needed for market research

- May take some time to develop due to the time needed

Recommendation

In favor of ACA 2, Blue-Ocean should focus on developing market penetration strategies. By doing so, Blue-Ocean will be able to customize their campaigns based on the current Philippine market. The water distribution industry in the Philippines in recent years has become a thriving business. Because of Blue-Ocean is in quadrant 2 in the Grand matrix strategy, it is going into a fierce market with a weak competitive position. The marketing plan it needs to develop must be enticing enough so that the market can take notice.

Action Plan

WHAT

WHO

WHEN (time frame)

RESOURCES NEEDED

1

Identify current market conditions

Top management

2 weeks

Market Studies

Marketing Research results

2

In conjunction with no. 1, determine competing product ranking

Top management

Marketing team

2 weeks

List of competing products

3

Conduct surveys and focus group discussions and product testing

Marketing team

Focus Groups

1 month

Meeting Rooms

4

Evaluation of results: Identify possible new products; identify feature enhancement in existing products

Marketing Team, Sales Team, Finance Team

1 month

Meeting Rooms

Survey Results

Evaluation Forms

5

Product positioning development

Marketing Development Committee

3 months (or more depending on the complexity of product positioning campaign)

Market

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