Updated: May 1
1. Standardisation Strategy. (McDonalds Restaurants) McDonalds have sidestepped ‘Service’ and replaced it with Standardisation. 1.Same product, same price, everywhere. 2.Whatever you want. It’s a button on their Cash Register. 3.Customers are happy to clear their own table.
2. Place Strategy (International Comparison example) Sales of Flavoured Milk in Australia were low. Meaning there was scope to increase sales in Australia. Market Research revealed it was not seen as ‘Tuff Enough’ for Australian men to drink. New TV Commercials featuring Sarcasm, Fast Cars and Hurricanes re-imagined the Drink (Brand) and sales increased.
One TV Commercial featured a man exiting a shop holding the drink. His girlfriend and dog look at him with disgust. He replies with, "tastes good but." Hilarious. Brilliant.
3. Product Strategy Electrical Manufacturer focuses on Quality and Personal Service. Promoting competitors cheaper products as unsafe, causing downtime, injury and Law Suits. Focusing on 'Quality gear that lasts' means their higher priced gear is cheaper in the long-run
4. Simple Joint-Venture Strategy Pizza Shop sells coffee from the Bar next door which in turn sells pizzas from Pizza Shop.
5. Government Regulations Strategy An Australian Software Manufacturer (SaaS). Targets Businesses that Tender to Government. Because the Australian Government likes tenderer's that use Australian Made.
6. Honest & Open Years ago this wasn't a strategy. Now days with the amount of equivocating, ignoring questions, ‘changing the subject’ and guessing answers; honesty has become a powerful niche market. When was the last time you heard, “I don’t know … but I’ll find out.”
Market Segmentation Strategies
by Age 7. Mature-Age Strategy Hardware Store. Targets mature-age renovators by employing mature-age staff. Sales increase.
by Gender 8. Female Strategy An Auto Repair Shop is painted pink, opens a café and makes it ‘female friendly’ (women’s magazines, manicures etcetera). Yeah it’s a stereotype, but it works. Male customers decrease slightly and female customers double.
by Gender 9. Secondary Market Strategy A shopping Mall with 7 Women’s Fashion Stores. One store ads an area with the Latest Men’s Magazines. Men (partners) are no longer bored / waiting outside the store. Result – Store attracts women and men doubling its customer base.
by Customer Friends 10. Referral Marketing Strategy (a customer is asked to refer a friend) A low-cost, high-impact secret weapon. Some businesses use it as a Primary Marketing Strategy. When, how and which customers you ask is crucial. Both parties need to be rewarded equally if the friend becomes a customer
by Industry 11. Secondary Market Strategy Electrical Manufacturer starts selling wire to Jewelers