Marketing Strategy and Plan

This article discusses market segmentation and its importance in designing marketing mix for each particular segment. It also talks about Metricon's strategies and plans for market segmentation. The article recommends the use of both traditional and digital marketing segmentation approaches to determine the purchase of the brand in the company. It emphasizes the importance of understanding marketing communication to determine the satisfaction level in the marketplace.

RRUNNING HEADER: Marketing strategy and plan
Marketing strategy and plan
Name
Institution
Professor
Course
Date
1

RRUNNING HEADER: Marketing strategy and plan
What is Market segmentation?
Market Division is a procedure of separating the market of potential clients into various distinct
groups on a segments based on their main characteristics.
The main reason why market segmentation is accomplished by Metricon organization is due to
the fact that they can design marketing mix for each particular segment and then cater for them
effectively.
Profile
Segment 1 Segment 2
Demographic segmentation psychographic segmentation
Segment 1
Demographic segmentation – Enveloping dimensions based on sex, age, training, and pay and
even attributes of the business the prospects work for. Metricon Company typically base its
"benefits" of their items to bunch with certain dimensional qualities and afterward make an
advertising blend to serve each portion (Blattberg & Sen, 2010,p.63).The factors utilized for this
segment helps in isolating an extensive populace into explicit client groupings and encourages an
organization to precisely focus on its customers.
With this sort of segmentation, Metricon can classify the necessities of buyers. A portion of the
merits of demographic premise are as per the following:
These are anything but difficult to perceive and simple to quantify.
Their information can be effectively accessible.
2

RRUNNING HEADER: Marketing strategy and plan
These can be effectively associated with deals and other advertising endeavors.
• Psychographic segmentation – In this sort of bunching prospects are gathered together
based on their cognizant and intuitive inspirations, their dimension of issue mindfulness and their
desires. A side-effect of psychographic division is the purchaser persona which enables
organizations to all the more likely envision lead activity and supply substance to sustain them
over every one of the phases of their purchaser's adventure (Breyer,Gerlach, Schäfer & Schmid,
2010,p.416). Psychographic division is the apparatus of brands that don't have an immediate
state in how their prospects search for data or take the choice to buy an item. In this manner by
endeavoring to comprehend what drives conduct, they can endeavor to guarantee that their
substance answers prospect questions building up compatibility and thought initiative. It depicts
the human qualities and behaviors of buyers. To characterize a market fragment, psychographic
segmentation assumes a pivotal job. In it, purchasers are ordered into market sections based on
their identity, frame of mind, values, mental self-portrait, interests opinions, assessments, way of
life,
Level of awareness.
The two market segments are in the same level of awareness as they ply similar roles in customer
information according to their preferences, characteristics and behaviors
These market segments are homogeneous. There ought to be something normal among the
people in the fragment that the advertiser can gain by.Metricon Advertisers likewise need to
watch that the two segments have distinctive highlights which make them special with
3

RRUNNING HEADER: Marketing strategy and plan
comparable features. Advertisers should likewise guarantee that the people of the segment react
correspondingly to the improvement.
There are in the same level of segment marketing awareness
Segment marketing alludes to a system where the organization isolates its intended target group
into various fragments dependent on their remarkable needs and necessities (Nkurunziza,
Zuidgeest & Van Maarseveen, 2012,p.45). This procedure makes item separation for clients with
comparative needs and inclinations, in view of their sexual orientation, age, salary and location.
Objectives
To minimize on risks in decision making revolving where, how the particular brand will be well
marketed
To optimize efficiency by ensuring hard work towards each segment that is comprehensive and
consistent with the features of the segment. These highly underpin efficient marketing plan in
order for Metricon organization to achieve.
These support the advertising plan and give a reasonable arrangement of objectives for the
organization to accomplish.
Pricing
A key target for market division is figuring out what cost diverse gatherings of customers are
happy to pay for your item.
Promotion
4

RRUNNING HEADER: Marketing strategy and plan
In this case, Metricon focus on the target consumers in terms on what is vital to them. The aim is
to consider promotional initiatives on these aspects and themes and also for the value.
Channel
Market division gives Metricon Company a chance to choose how to offer an item or
administration to each target group for greatest convenience, so you can tailor your business
channels to the inclinations of the individuals from each market section (Onozaka, Nurse &
Thilmany McFadden, 2010,p.56).
Strategies and plans that Metricon is currently using to accomplish the objectives
• Branding. Marking is a standout amongst the most critical promoting methodologies a
private company can execute.
• Print Promoting and Advertising Materials. Includes magazines and flyers
• Direct Mail. The way to an effective regular postal mail methodology for any business,
little or vast, is focusing on the gathering of people
Social networking
Other than setting up a site, private companies can give well known person to person
communication destinations something to do as a promoting methodology. Sites like Twitter and
Facebook can be significant for depicting existing items, presenting new items, offering
advancements and reporting deals.
• Electronic barcode technology
Characterizing target showcase and focusing endeavors on it
5

RRUNNING HEADER: Marketing strategy and plan
Recognizing the advantages or needs which the item fulfills
Other objectives include;
Defining promoting strategies
Characterizing legitimate advertising strategies empowers an organization to choose the sort of
clients it will target.
Setting a time allotment for assessment of promoting endeavors.
The achievement of the promoting endeavors attempted should be looked into occasionally by
setting a particular time allotment. Apportioning explicit time for the showcasing techniques to
succeed and inspecting the equivalent intermittently comprehends whether the advertising
system embraced is working.
Adopting a blended technique to increase sales
Promoting without appropriate showcasing system alone won't accomplish advertising results as
it is much the same as a strand in a rope and not sufficient like the rope. Planning publicizing
alongside the showcasing plan is the ideal method to support deals.
Objectives of psychographic segmentation
At the point when Metricons conspicuous groupings of target fragments appear to have
profoundly changed requirements and reactions to its contributions and informing, this is a
noteworthy marker it is a decent time to take a gander at psychographic division (Wu,Inderbitzin
& Bening, 2015,p112). This strategy is a ground-breaking approach to showcase a similar item
to people who generally appear to be extremely heterogeneous. Numerous master advertisers
6

RRUNNING HEADER: Marketing strategy and plan
state this methodology will eventually yield the best result, from numerous points of view:
purchase amount and recurrence, lifetime value, customer loyalty.
It is aimed at developing an executing against various existing marketing personas
It ensures crafting of different areas of marketing plan. It enhances the brands image of the
company. It also increases prospective customers’ awareness regarding the existence of the
products. The segment boost morale of staff and also improves the customer buying behaviors
enabling them have best options during decision making process.
How Metricon is accomplishing Psychographic Division goals
There are distinctive approaches to achieve the objectives, and it is extremely subject to the
extent of your addressable market, your financial plan and your time skyline. Here are some
basic methodologies:
•Through primary market research, for the most part as attitudinal studies that are then examined
through factor investigation by an analyst to discover examples and groupings (Aslihan,Nasir &
Karakaya, 2014,p.263) For this technique, you should know where the distinctions or polarities
may lie, so you can test in those territories. This examination might be caught up with a
subjective report to delve further into specific zones.
• 'Down-and-dirty' market research utilizing some strategy, for example, Google Studies.
Once more, Metricon should have a feeling of the measurements or components of contrast.
They accomplish the goals through formal analysis of the digital means
7

RRUNNING HEADER: Marketing strategy and plan
• Marketing artificial intelligence .This involves use of techniques to train markets through
predictive analysis and learning. It ensures digital marketing evolvement of both tactics and
content offering them skills through programs.
The strategies will help Metricon to accomplish the following
1. Have the capacity to make a move on the bits of knowledge or insight offered… so it
should likewise be reasonable.
2. Have the capacity to plainly observe the contrasts between the groupings. Individuals
ought to have a place with some gathering, yet not both.
3. The outcomes ought to be reproducible even with a different arrangement of subjects, so
it has in excess of a solitary time utilization.
Recommendations about the direction the brand should take.
Improving the segmentation aspect within the organization will be enhanced through the use of
both the traditional and digital marketing segmentation strategies. Generally, things are changing
and therefore marketers need to check on the entire business environment (Hays, Page,Buhalis,
2013 p.67).The increase in technology and other social media platforms have posed a big
challenge to the marketers when segmenting the market unit. The following are some of the
recommendations on marketing segmentation in the organization.
First the company needs to have a documented strategy and a blog that indicates a procedure for
the content. Generally it’s common for companies to have a unique marketing strategy that target
to increase the brand awareness in the marketplace. Metricons need to realize that having a
8

RRUNNING HEADER: Marketing strategy and plan
strategy does not mean that all things are in correct directions. The company has to consider the
issue of documentation which will determine the psychographic segmentation in the
marketplace. On the issue of blog and procedure content, the company will have to get a website
immediately as possible so as to ensure there is maximum focus on the marketing content in the
marketplace (Killian & McManus, 2015 p.82).Content market will involve telling stories to the
customers on the importance of brand thus affecting the overall communication approach thus
solving issues in appropriate manner. Once the company has set up a blog it will be simple to
come up with analytic tools that will track customers in the marketplace about the existing
brand .The company should use the goggle tools which are free in order to segment the market
effectively.
Also, Metricons need to use the media, social data and continue tweaking and adapting to
changes in the marketplace. Once the company has decided to post content to the blog, then there
is need to improve on leverage social media which will provide a room for engagement with the
customers. Through the use of social media it will be good enough to get the required data
representing a certain group. Therefore, the issue of demographic segmentation will be boosted
by appreciating the importance of social media in the company (Leeflang, Verhoef, Dahlström,
Freundt, 2014 p.90).Challenges In addition; the company should collect feedback information
from the customers so as to measure the satisfaction level. Use of twitter polls in the marketplace
determines the degree of interaction with the customers. After the company has set the marketing
segmentation strategy through social media, it will be good enough to continue tweaking and
adapting. Basically digital marketing segmentation keeps on changing and therefore the company
has to pay much attention.
9

RRUNNING HEADER: Marketing strategy and plan
In addition, there is need to communicate on how customers are currently experiencing the brand
available in the company. The company should observe how customers are interacting with the
available brands in the marketplace. Metricons need to evaluate both online and offline
interaction when determining marketing segmentation approach. After much care has been
employed on interaction strategies, then a plan on how to enhance the lackluster results need to
be formulated in the company (Miller,2012 p.45).There is need to study the data related to
customer approach to the available brand in the company. Metricons should use the high quality
personalized messages that will determine the success of marketing efforts.
The company has to check on combination strategy which determines the marketing
segmentation by using the demographic approach. The strategy improves the traditional
marketing segmentation. Most of the time combined segmentation tends to incorporates the age
and income information related to customers (Roberts & Zahay, 2012 p.198).Through this
approach it will be good enough to reach a particular segment in the market since a certain niche
is created. Combined segmentation strategy divides the market in terms of age, gender and
wealthy level thus helping the company to choose appropriate brand for a particular section.
Summary for the recommendations
Through the use of the recommendation identified the company will be in position to escape
some of the pandemonium experienced in marketing segmentation. Assessing the technology and
use of online data regarding the customer’s helps in evaluating the aspect of segmentation level
in the marketplace (Taken Smith, 2012 p.35).When Metricons appreciates the issue of content
reach and communication then it shows that both internal and external marketing is keenly
evaluated and handled. Also, use of combined strategy will determine the number of segments
10

RRUNNING HEADER: Marketing strategy and plan
available in the marketplace and the economic status on the targeted segment on purchase of the
brand.
Conclusion
Metricons has to check on the digital marketing segmentation approaches. It does not mean that
traditional approaches are thrown away but the issue is that the current world is on digital
marketing (Taken Smith, 2012 p.65).The use of both demographic and psychographic
segmentation approaches will determine the purchase of the brand in the company.
Understanding the issue of marketing communication helps in determining the satisfaction level
in the marketplace.
11

RRUNNING HEADER: Marketing strategy and plan
References
Blattberg and Sen, S.K., (2010). Market segments and stochastic brand choice models.
In Perspectives On Promotion And Database Marketing: The Collected Works of Robert C
Blattberg (pp. 63-74).
Breyer, C., Gerlach, A., Schäfer, D. and Schmid, J., (2010), December. Fuel-parity: new very
large and sustainable market segments for PV systems. In Energy Conference and Exhibition
(EnergyCon), 2010 IEEE International (pp. 406-411). IEEE.
Nkurunziza, A., Zuidgeest, M. and Van Maarseveen, M., 2012. Identifying potential cycling
market segments in Dar-es-Salaam, Tanzania. Habitat International, 36(1), pp.78-84.
Onozaka, Y., Nurse, G. and Thilmany McFadden, D., 2010. Defining sustainable food market
segments: Do motivations and values vary by shopping locale?. American Journal of
Agricultural Economics, 93(2), pp.583-589.
Wu, G., Inderbitzin, A. and Bening, C., 2015. Total cost of ownership of electric vehicles
compared to conventional vehicles: A probabilistic analysis and projection across market
segments. Energy Policy, 80, pp.196-214.
Aslihan Nasir, V. and Karakaya, F., 2014. Consumer segments in organic foods market. Journal
of Consumer Marketing, 31(4), pp.263-277.
12

RRUNNING HEADER: Marketing strategy and plan
Hays, S., Page, S.J. and Buhalis, D., 2013. Social media as a destination marketing tool: its use
by national tourism organisations. Current issues in Tourism, 16(3), pp.211-239.
Killian, G. and McManus, K., 2015. A marketing communications approach for the digital era:
Managerial guidelines for social media integration. Business Horizons, 58(5), pp.539-549.
Leeflang, P.S., Verhoef, P.C., Dahlström, P. and Freundt, T., 2014. Challenges and solutions for
marketing in a digital era. European management journal, 32(1), pp.1-12.
Miller, M., 2012. B2B digital marketing: Using the web to market directly to businesses. Que
Publishing.
Roberts, M.L. and Zahay, D., 2012. Internet marketing: Integrating online and offline strategies.
Cengage Learning.
Taken Smith, K., 2012. Longitudinal study of digital marketing strategies targeting
Millennials. Journal of Consumer Marketing, 29(2), pp.86-92.
13