Marketing Strategies for Business Growth of Huddesfill
1.0 Introduction
Huddesfill (“the company”) is a UK based company engaged in the business of producing full range of sport shoes, such as basketball, soccer, badminton and tennis etc., which is the third largest market player in UK. The aim of this proposal is to identify the suitable marketing strategies for the business growth of Huddesfill in UK.
2.0 Objective
Being the third largest sport shoes producer in UK, Huddesfill’s market share in UK was about 8% in 2005, so that, the objective of the marketing strategies is to increase the company’s market share in UK by 10% in order to catch up the market leader – Cantermony, which market share in UK was about 15% in 2005.
3.0 Target Audiences
The target audiences of Huddesfill can be divided into segments according to lifestyle and user status. Lifestyle segmentation is based upon the characteristics of psychological, so that, the target audiences of this segment are the people who are interested in sport. For the user status segmentation, the target audiences included non-users, ex-users, potential users, first-time users and regular users of Huddesfill’s products.
4.0 Marketing Strategies To Be Used
Marketing strategy indicating the specific target markets and the types of competitive advantages that are to be developed and exploited (Dibb wt al., 2001, p.656). It is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. It provides a framework to meet organization needs and customer wants in an integrative and innovative way.
Growth strategies – the Ansoff matrix will be used by Huddesfill since the objective is to increase their market share. The linkages between both products and markets were provided by the Ansoff matrix and it allows the company to consider ways to grow the business via existing and/or new products, in existing and/or new markets. The matrix consist four
Huddesfill (“the company”) is a UK based company engaged in the business of producing full range of sport shoes, such as basketball, soccer, badminton and tennis etc., which is the third largest market player in UK. The aim of this proposal is to identify the suitable marketing strategies for the business growth of Huddesfill in UK.
2.0 Objective
Being the third largest sport shoes producer in UK, Huddesfill’s market share in UK was about 8% in 2005, so that, the objective of the marketing strategies is to increase the company’s market share in UK by 10% in order to catch up the market leader – Cantermony, which market share in UK was about 15% in 2005.
3.0 Target Audiences
The target audiences of Huddesfill can be divided into segments according to lifestyle and user status. Lifestyle segmentation is based upon the characteristics of psychological, so that, the target audiences of this segment are the people who are interested in sport. For the user status segmentation, the target audiences included non-users, ex-users, potential users, first-time users and regular users of Huddesfill’s products.
4.0 Marketing Strategies To Be Used
Marketing strategy indicating the specific target markets and the types of competitive advantages that are to be developed and exploited (Dibb wt al., 2001, p.656). It is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. It provides a framework to meet organization needs and customer wants in an integrative and innovative way.
Growth strategies – the Ansoff matrix will be used by Huddesfill since the objective is to increase their market share. The linkages between both products and markets were provided by the Ansoff matrix and it allows the company to consider ways to grow the business via existing and/or new products, in existing and/or new markets. The matrix consist four