This document discusses the marketing strategies and opportunities for Disney's new direct to consumer video service in Singapore. It includes a SWOT analysis, target market segmentation, and proposed brand image.
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Running head:MARKETING MANAGEMENT New Disney Direct to Consumer Video Student’s Name: Institution:
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NEW DISNEY DIRECT TO CONSUMER VIDEO2 GOAL SETTING AND SITUATION REVIEW Mission Statement The organization’s mission is laid on the foundation of the definite objective to be a leader on production and provision of entertainment and information by employing a strong portfolio of brands as a way of differentiating its services, content and products to the consumer. The mission drives the company to venture into the Singaporean market. Socio-economic Singapore is a wealthy nation and ranked as the 38th nation biggest economy nation with 346,621 million US$ in GDP. In the nominal per capita GDP, the country is listed number ten having a per capita GDP of 57,713 US$. Presently, the country is the most stable without foreign debt. The areas driving the economy in Singapore are tourism, cargo seaport, financial services, and export of electronic and machinery (edb, 2018). Technology In terms of technology, Singapore is technologically advanced globally and owing to this it was ranked as the 1st digital infrastructure (edb, 2018). The country is prospective for business development due to its friendliness and was ranked globally as second best by the World Economic Forum’s Global Competitive Index. It is the headquarters of many neighboring nations and home for over 30,000 international corporations (alliance experts, 2018). Lifestyle Singapore is a unique nation bestowed with a blend of different cultures from different countries. The lifestyle is therefore multicultural where every ethnic community holds onto their ways of life and lives harmoniously with the rest (guidemesingapore, 2018). The people of
NEW DISNEY DIRECT TO CONSUMER VIDEO3 Singapore are consumers of foreign products, cautious, loyal in alternative exploitation and enjoy using new products (santandertrade, 2018). Analysis of Singaporean Market to Consumer Video Service Singapore is a nation with opportunities to invest owing to the low cost of starting a business, infrastructure, higher number of buyers and emerging markets. The strengths are the stable economy, reasonable business regulations, infrastructure and high consumption. SWOT Analysis STRENGHTSWEAKNESES High consumption is high, Stable economy, Good infrastructure and Friendly regulations. The country is a small size as it is Island, Close to BRIC countries, Global orientation the involvement by the government OPPORTUNITIESTHREATS It is a tourism nation-more buyers from the globe, Has emerging markets and expansion overseas, Low cost of starting a business and Growth of e-commerce The proliferation of substitutes owing to mature market, Poor supply chain, Multi-lingualnation-thenational languagesusedareEnglish,Chinese and Tamil and The rising sea level
NEW DISNEY DIRECT TO CONSUMER VIDEO4 The SWOT analysis shows that there are good opportunities for setting business in Singapore. Even though there are weaknesses and threats, the strengths established overrun these and Disney should venture and penetrate into Singaporean market. STRATEGY FORMULATION Marketing Objective 1.Strategic Focus Disney is going to adopt user experience. In focusing to venture into the Singapore market, the organization takes the user experience. The user experience in each of the company’s brand gets amplified, and this aspect can capture and retain customers. As a result of the impact realized in other areas, the organization is going to embrace user experience in the Singaporean market (Wheelen et al. 2017). 2.Target Market, Segmentation and Positioning Even though the organization’s main target is children, there is still some room for adults. In taking New Disney Direct to Consumer Video to Singapore, the organization has onboard all categories of customers which comprise the children, teenagers and adults (reference, 2018). The organization segmentation strategy targets the groups to demography based on age to get three distinct groups-children, teenagers and adults.The target is children using animated cartoons, merchandise and theme parks (Weinstein, & Winston, 2016) and will position itself by targeting the kids and teenagers (Collins, & Mitchell, 2015). 3.Proposed Brand Image- Kapferer Identity Prism As per Urde (2016), physique, as outlined and elucidated by Kapferer's Brand Identity Prism, shows the physical features of the brand that evokes the mind of the customer. In Singapore, the company is going to create a secure and enduring brand that mirrors the core
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NEW DISNEY DIRECT TO CONSUMER VIDEO5 values of the organization. The proposed brand will use the sleek company styling of the name Disney and with the addition of Singapore as a distinctive way of targeting Singaporeans (Jensen, 2016). MARKETING STRATEGIES 1.Brand marketing and Content Marketing In examining at Disney’s strategies on other brands, it is clear that both brand marketing and content marketing takes place concurrently. The organization employs brand marketing by creating a deeper involvement of a brand that leaves the customer satisfied. The incorporation of amazing sceneries coupled with spectacular themes in which the absence of one still finds the customer with amusement and fetches satisfaction (Geter, (2018). On the other hand, content marketing gets employed by telling stories that resonate as well as inspires the audience. Memes get used to illustrate different seasons and events (Burns, 2015). 2.Product Proposition The proposition that is going to be adapted in the Singaporean market is to produce and provide the best entertainment product to the targeted segment. It is going to be possible through the use of a strong collection of products to distinguish its services, work and merchandises from the competitors. 3.Price Plan In order to go in the Singaporean market, Disney is going to employ both penetration and value-based strategies. The prices will be set based on the value that clients feel it is worthwhile taking into consideration penetrating the market. The value-based price must not be as low to be applicable in meeting cost incurred. The two will be done in a concurrent manner (Nagle, & Müller, 2017).
NEW DISNEY DIRECT TO CONSUMER VIDEO6 4.Distribution Strategy Thecompanywillputdistributionchannelsinmanydifferentlocationsforfast monetization. Single player and paywall solutions are among the best places. The reason is that in the use of a unique service, one can share content in different locations. It is going to be an opportunity to advertise as one can get partners willing to embed contents in their sites. Additionally, it expands the audience coverage which becomes a plus in revenue generation (yumyumvideos, 2017). 5.Revenue Generation In the pursuit of getting revenues, the organization has to sell advertising on the new service. It is because it is a goal for every company to optimize resources for maximum profits (Zott, C., & Amit, 2015).
NEW DISNEY DIRECT TO CONSUMER VIDEO7 References allianceexperts, (2018). Business opportunities in Singapore as hub for Asia. Retrieved from: https://www.allianceexperts.com/en/knowledge/countries/asia/do-business-in-asia-with- singapore-as-your-hub/ Burns, W. (2015). Disney Proves That Profitable Marketing Is About Brand Stories. Retrieved from: https://www.forbes.com/sites/willburns/2015/06/09/disney-proves-that-profitable- marketing-is-about-brand-stories/#2c2a5697227b Collins, P., & Mitchell, D. M. (2015). The purchasing power of tomorrow: An analysis of the buying habits of children ages 6-15. edb, (2018). Singapore flexes its standing as Asia’s technology capital . Retrieved from: https://www.edb.gov.sg/en/news-and-events/insights/innovation/singapore-flexes-its- standing-as-asias-technology-capital.html Geter, T. (2018). Disney’s Marketing Strategy. Retrieved from: https://www.osiaffiliate.com/blog/disney-marketing-strategy/ guidemesingapore, (2018). Quality of Life in Singapore. Retrieved from: https://www.guidemesingapore.com/business-guides/immigration/get-to-know- singapore/quality-of-life-in-singapore Jensen, N. (2016). The importance of creating memorable brand experiences in shopping centres, based on the case of Fisketorvet–Copenhagen Mall. Nagle, T. T., & Müller, G. (2017).The strategy and tactics of pricing: A guide to growing more profitably. Routledge. reference, (2018). Who Is Disney's Target Market? Retrieved from: https://www.reference.com/business-finance/disney-s-target-market-e3308c1235f74c70
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NEW DISNEY DIRECT TO CONSUMER VIDEO8 santandertrade, (2018). Singapore: Reaching the consumer. Retrieved from: https://en.portal.santandertrade.com/analyse-markets/singapore/reaching-the-consumers Urde, M. (2016). The brand core and its management over time.Journal of Product & Brand Management,25(1), 26-42. Weinstein, A., & Winston, W. (2016).Defining your market: winning strategies for high-tech, industrial, and service firms. Routledge. Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017).Strategic management and business policy(p. 55). Boston: pearson. yumyumvideos, (2017). 7 Channels For A Killer Video Distribution Strategy. Retrieved from: https://www.yumyumvideos.com/7-channels-video-distribution-strategy-wp/ Zott, C., & Amit, R. (2015). Business model.Wiley Encyclopedia of Management, 1-4.