NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Submission BCS
Marketing strategy to tap into a fast expanding market
Submission Date & Time: 2021-11-21 12:08:49
Event Name: NMO S4 Sprint One
Solution Submitted By: Jami Mauryateja
Assignment Taken
Marketing DepartmentCase Understanding
It is about Ramalingam food entering into fast expanding marketBCS Solution Summary
Marketing strategy to tap into a fast expanding marketSolution
Market Penetration -
This approach utilizes the existing products you already have and focuses on increasing the sales you already have in your market.
Market research is crucial for any Market Expansion strategy because it gives you a better understanding of the market’s wants and needs. Understand what connects with their heart and trends which they follow.
Also analyse the competition, what strategy they are using. What campaigns and advertisements are being used by the competitors.
Create a brand Persona -
Create a specific image of your brand, eg. Authentic Indian south Indian food. And pitch it accordingly.
Participate in events like food carnivals and offer small demos of your products to them.
For advertisements, create a mascot, an indian south indian guy and use it to adapt as per trends in market (something similar to what Amul girl does)
Engaging New Audiences -
Your brand audience consists of potential buyers throughout various markets, including potential buyers, those who already buy from you, and people who may be interested in new products.
Interact with the audience over platforms like social media, and try to build a bond with your brand.
Ensure that you use your market research to identify these individuals and engage with them using fun marketing, social media outreach, and other steps that expand your presence in the market.
Conclusion
Understanding trends in market and adapting according to it. Interacting with market and getting a space in their heart will help in expansion.Attached File Details
Comments
Article Type: Business Case Scenario, Case Study Solution Submission
Business Case Detail
Title: NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Type: Case Study
Stream: Management
Indian Institute of Management Sambalpur
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