Strategic business analysis
SHANTHAN REDDY BANDI
AQUALISA QUARTZ: Simply a better Shower
Inspite of possessing differentiable features from that of the competition, the product (Aqualisa Quartz showers) was not speaking for itself. The product mainly was focused to resolve the issues faced by the plumber and customers but did not attract sales as much as expected. The product was not gaining enough momentum to gather sales that the makers expected due to reasons such as its high price, inefficient marketing and no brand awareness.
To improve the products sale and market share, the company should do the following-
1. Build brand – For any new product to gain recognition in the market, the company should build brand and work towards having a long relationship with the customers and their loyalty to the brand or product. Building brand for this product would not be an issue to the makers as it already had a good reputation in the market: all it has to do is to build a loyal base for this new product.
2. Market Segmentation – The product apart from its cosmetic changes had few very good differentiable features. Based on the technical and cosmetic features, the company should target premium customers who would prefer style over price.
3. Promotion – The Company should heavily promote the product based on its market segmentation. It should mainly concentrate on the ‘word of mouth’ strategy and use the plumbers as their communicators. Word of mouth works better than any other promotional strategy. Since, the major buyers of the shower and other related tools are the plumbers, the company should provide discounts and give commissions to plumbers who advice or suggest their customers to buy the product. The Company can also exhibit the product at Malls and big showrooms like IKEA etc, to give a live demonstration to the potential customers.
4. Price Strategy – Being a new introduction into the market with
AQUALISA QUARTZ: Simply a better Shower
Inspite of possessing differentiable features from that of the competition, the product (Aqualisa Quartz showers) was not speaking for itself. The product mainly was focused to resolve the issues faced by the plumber and customers but did not attract sales as much as expected. The product was not gaining enough momentum to gather sales that the makers expected due to reasons such as its high price, inefficient marketing and no brand awareness.
To improve the products sale and market share, the company should do the following-
1. Build brand – For any new product to gain recognition in the market, the company should build brand and work towards having a long relationship with the customers and their loyalty to the brand or product. Building brand for this product would not be an issue to the makers as it already had a good reputation in the market: all it has to do is to build a loyal base for this new product.
2. Market Segmentation – The product apart from its cosmetic changes had few very good differentiable features. Based on the technical and cosmetic features, the company should target premium customers who would prefer style over price.
3. Promotion – The Company should heavily promote the product based on its market segmentation. It should mainly concentrate on the ‘word of mouth’ strategy and use the plumbers as their communicators. Word of mouth works better than any other promotional strategy. Since, the major buyers of the shower and other related tools are the plumbers, the company should provide discounts and give commissions to plumbers who advice or suggest their customers to buy the product. The Company can also exhibit the product at Malls and big showrooms like IKEA etc, to give a live demonstration to the potential customers.
4. Price Strategy – Being a new introduction into the market with