Marketing Management Master Assignment Example | Topics and Well Written Essays - 3000 words

Marketing Management Master - Assignment Example Secondly, the customers might not be as knowledgeable as the ones who were there for the larger boats. This means that the company has to educate the buyers on how to use their boats in addition to giving them appropriate maintenance and handling tips. All this would mean that the company has to handle the entire marketing setup in a different way compared what they were doing earlier. 1. Products that are made by the company are positioned as a niche product. This positioning has to be altered in order to ensure that the company does not lose out on their turnover. The company has to cultivate and build relationship with buyers of the smaller boats. 2. On analysing the pricing position of the product, it is clear that the company might have to sell larger numbers to reach the same turnover that they were doing earlier. This can be realised only if the company decides to sell these boats through a distributor network. 4. The company has to have a clear public communication program that would enable the company to reach the buyers and the targeted clients. This promotion is required in order to ensure that the product gains on the market. This overall strategy will be strengthened by the positive aspects that are already present with the company. These are typically, the brand of the company that would help it to realise the market much more easily. Secondly, there is also a technological supremacy that would help the company to market much better than the rest of the competition. However, it needs to look at the new set of customers differently and also approach them in a different method. In order to realise the overall objectives listed above the following three jobs need to be executed. 1. Appropriate stocking of the finished boats should be present for immediate selling. 2. Since the company has to sell larger numbers, they need to deal through a set of distributors. 3. Competition has to be studied well and continuously monitored to fix an appropriate pricing policy and customer satisfaction policies. These three objectives are discussed in detail below. Promotional Strategy The company has to ensure that the 'right' quantity of boats and yachts are maintained in stock. This will enable the company to dispatch or supply boats on demand and meet the customer requirements immediately. The stocks have to be planned in contrast to the original pull style production system that they had. They need to move over to the push style system that would expect the company to