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COURSE N°3. To assess the marketing value of a product Keypoints of preliminary market investigation. Case study. Chinese wooden floors What are the major threats that may lead the firm of the belgian manager to a dead end. What could be the marketing propositions to avoid a fatal issue?.
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COURSE N°3 To assess the marketing value of a product Keypoints of preliminary market investigation
Case study Chinese wooden floors What are the major threats that may lead the firm of the belgian manager to a dead end. What could be the marketing propositions to avoid a fatal issue?
TOOLKIT 1 Market research plan: -What information is needed, why do we need it? Is it available ( time & cost) -How are we going to get it? 2 Business intelligence : accurate understanding and analyse of hidden information 3 Project management processing 3
The anatomy of marketingValue-Strategy-Tactic Tactic Value strategy s
Step 1-Assessment of product(idea)valueDescription of the product/idea/technology:----------------------------------------------------------------------- threats To be checked Surveillance stengths Weak. Opportunit. Marketing values -Innovation -Consumer/buyers Value -Competitors offer -Market situation -Barriers and Competitive Advantages -Market accessibil. -Resources avail. -Other factors (legal,polit.cultural) 5
La Chaîne de valeur logistiqueconsumers goods Retail to consumers consumers production Raw material Importers Wholesalers Entry logistics Export logistics Distribution channels Chaîne d’approvisionnement Supply chain
Le sytème de valeurd’un produit ou d’un service Chaîne de valeurs De la firme Chaîne de valeur Des fournisseurs Chaîne de valeur Des circuits de distribution clients
Early majority Late majority Laggards Early adopters innovators introduction growth maturity decline • Product Life Circle
New technology Image deterioration Regulations, economical Political risks Cultural factors counterfeiting fraudulent inf. lack of protection k.h. sanitary and environment risks Environment factors / Product Life Circle Introduction growthdecline
PANGA FISHSuccess Key points • The R&D about the use of human female hormones for farmed pandas transformed a smallscale shortage market into an industrial large quantity market. • Strong competitive barriers due to exclusive local fish species • Low wages and great humanlabor availability makes hand portioned filets at low price through local production plants which produce in large quantities. • Farming and portioning processes cannot be performed through industrial processings. • The use of industrial deep-freezing allows long term cold storage and a worldwide transportation • Bulk shipments in full specific containers reduce transportation costs on a worldwide scale. • Large distribution organisations with national storage and supply networks allows a quick distribution to the retail with enormous sales potential. Summary: Product R&D can lead to a change of strategic model on the condition that all the related components of the product/market profile are adequate. Risks and surveillance: human sanitary regulations, consumer rejection through mass medias communication, increase of local labor wages,contamination with local human deseases.
Study case strategyChinese Wooden floors 1- no specific know how except hand assembling of cut wooden pannels 2- no economies of scale 3- no product segmentation 4- no product R&D 5- no benchmarking on local competitors,and endconsumers trends 6- wooden floor market at maturity stage 7- threat of foreign regulations to prohibit forest destroy, additional taxes to protect the environment 8- local wages increase due to the chinese development rate is a threat to the low cost positioning. 9-threat of sourcing shortage Summary:The strategy of volume is inadapted to the production process and the market maturity stage , the only competitive advantage is low cost which is not durable, there is no marketing model owing to a lack of market information system and internal marketing expertise.The possible regulation of the supplying countries related to environmental protection is a short termthreat aswell as new trends in floor covering. Strategy proposal:diversification with other wooden products of the home furnishing sector with more added value products or market fragmentation.
Building innovative marketing models to create competitive advantages • Product: technological R&D , using converging technologies or converging product value proposals • Identifying emerging new market segments or revival of outdated previous markets • Positioning:Finding new industrial solutions, improving response to consumers needs and wants • Consumers targets: identifying specific customers/buyers segments • Distribution channels, logistics, price structure
CASES STUDY1rst semester 1- Chinese scooters 2-Chinese wooden floors 3- Sourcing decisions for Panga fish 4- Value analysis for deciding a service positioning in real estate business 5 – Value analysis of low cost airlines 6-Marketing model A380 7- Value analysis of Rayban sunglasses 8- Value analysis of French wines (AOC) 9- Value of the territorial strategy in Nord-Pas de Calais ( pôles de compétitivité, pôles d’excellence)
HOMEWORKcourse n°4 • The market segmentation of real estate • Concept and value analysis of each segment • Consumers targets • Positioning of each segment • Supply chain of each segment