The STP Strategy
The three vital stakes of contemporary marketing strategy are segmentation, targeting and positioning Source: (YouTube, 2016). Today’s line of attack is to acknowledge that there are diverse requests in the commercial centre and that a product or service should be customized particularly to meet these contrasting requests to capitalize the opportunity for utmost success.
To triumph this, initialize with exploring the business sector, well the identification procedure should be given high attention, that how optimally demands could be segmented amongst the buyers who varies from each other for their buying behaviour and product or service necessities. Identifying and applying this marketing technique gives the product its unique quality which advances the organisation to stand out in the competitive market (Anon, 2016).
Source: (I.ytimg.com, 2016)
TEXT (in the picture): SUBAH KA BISCUIT = BISCUIT FOR MORNING
Strategy used by Cadbury -now- Mondelez India Foods
Source: (Anon, 2016)
Geographic Segment: (Ambwani, 2016) Bournvita Biscuits has been specially established for a specific country i.e. India. They have identified its growth after their first product Oreo in India, which comes as the 5th biggest market for Oreo. “India is not only contributing to the growth of Mondelez, but it is also offers tremendous future growth potential for the company. We are demonstrating this through our investments that we have made to enhance capacity, and expand cold-chain infrastructure,” Chandramouli Venkatesan, Managing Director, Mondelez India Foods(Ambwani, 2016).
A quick glance on why India’s future on Biscuits and Cookies Industry (ValueNotes Strategic Intelligence, 2016) is going to be strong.
Psychographics Segment: Mondelez India Food has developed a product, which has selected kid’s favourite morning health beverage which is loved by the mothers, for offering high nutritional value and blends them perfectly into a biscuit, with this it attempts to influence the attitudes and personalities of their perspective buyers (Anon, 2016).
Demographic Segment: This brings the pin-points the age – 0-16 (kids) and the 21-45 (mother) at the same time sex- Female (mothers)
Behavioural Segment: (Anon, 2016) It has analysed that almost 50% of the biscuits have been consumed in the morning and, since the beverage has always been a morning drink. It’s been a purposively designed and Titled as a “Biscuit for Morning” Bournvita biscuits to capture the morning snacking product
With this I would like to conclude the Strategy used to develop in Segmentation founded by (Abledd,1978) cited in(Anon, 2016) who mentions segmentation’s core significance that segmentation may spearhead to high earning opportunities and strategic windows that permits new competitors to contest proven market leaders
Source: (S3.firstpost.in, 2016)
A target market is the market or segments of market which comprise the emphasis of the organisations’ marketing endeavours (Anon, 2016).
Strategy used by Cadbury -now- Mondelez India Foods
Single marketing Strategy: Mondelez India Food is taking a risk of putting everything at stake with focusing on their previous achievement in the nutritive beverage drink and successful biscuit Oreo by assuming the extraordinary response for this innovative product line (Anon, 2016).
Factors Influencing Choice of Targeting Strategy
Stage of product-market maturity for Mondelez India Food will enjoy no completion. They already have a wide and undifferentiated and untapped target market.
Extent of buyer differentiation for Mondelez India Food has less opportunity for an extensive segmentation since their buyer’s needs are similar when compared to markets for buyers with different needs.
Market position for Mondelez India Food has relatively a higher market share and this plays a significant role in determining the target market it will penetrate in. And adding to this they have established their core strength i.e. the love for the child’s taste in the morning beverage product Bournvita, which they have innovated to reach out to the kids and influence their mothers by their unique quality of having the nutritive element to it.
Source: (Economictimes.indiatimes.com, 2016)
It is the most vital call and action plan that management takes for the firm and its marketing – Davis, 1977(Anon, 2016) .Though it is one of the most controversial area of new product development – (Marken, 1987) cited in (Anon, 2016).
Qualitative approaches to Positioning Research- Utilizing secured techniques in the process of qualitative research, pictures can be traced that serves the purpose of how branding of a firm is positioned in the mind of the observer. Some of these are (i) the brand of the company as an animal or a person. (ii) Role Play. (iii) The friendly Martian.
The strategy used by Mondelez India Food is Role Play(Anon, 2016). As they have publishing their advertising across social media. In this Advertise their idea as to project Mother who rises up early morning and sets the platform for her kids to perform gymnastic skills and gives them these biscuits as their mid-morning snacking biscuit.
This gives a stimuli to most of the viewers and helps them in articulating the product’s use and/or associate them to it. These include:
- Association technique.
- Concept Boards.
- Cartoon and story completion.
- (v) Visual product mapping.
Before I open the window to welcome your compliments I’d like to link you to the advertising campaign published by Mondelez India Food Source: (YouTube, 2016) to strategically SEGMENT, TARGET & POSTION Bournvita Biscuits.
-Thank You for Enjoying the blog
Ambwani, M. (2016). Cadbury Bournvita Biscuits to hit shelves in May. [online] The Hindu Business Line. Available at: http://www.thehindubusinessline.com/companies/mondelez-india-launches-cadbury-bournvita-biscuits/article8494083.ece [Accessed 8 Aug. 2016].
Anon, (2016). [online] Available at: http://eds.a.ebscohost.com.ezproxy-f.deakin.edu.au/eds/pdfviewer/pdfviewer?sid=3638b8f2-e0c1-4681-a124-b48522112db1%40sessionmgr4007&vid=1&hid=4102 [Accessed 8 Aug. 2016].
Anon, (2016). [online] Available at: http://www.dnaindia.com/money/report-with-cadbury-s-new-biscuits-mondolez-india-eyes-morning-market-says-chella-pandyan-2231041 [Accessed 8 Aug. 2016].
Economictimes.indiatimes.com. (2016). [online] Available at: http://economictimes.indiatimes.com/thumb/mondelez-india-promotes-bournvita-biscuits-as-subah-ka-biscuit-via-new-ad/52620365.cms?width=300&height=191 [Accessed 8 Aug. 2016].v
I.ytimg.com. (2016). [online] Available at: https://i.ytimg.com/vi/tRWvopZ3YSg/maxresdefault.jpg [Accessed 8 Aug. 2016].
S3.firstpost.in. (2016). [online] Available at: http://s3.firstpost.in/wp-content/uploads/2013/06/01_Bournvita.jpg [Accessed 8 Aug. 2016].
ValueNotes Strategic Intelligence. (2016). Biscuits and Cookies Industry in India 2015-19 – ValueNotes Strategic Intelligence. [online] Available at: http://www.valuenotes.biz/insights-publications/publications/biscuits-and-cookies-industry-in-india-2015-19/ [Accessed 8 Aug. 2016].
Anon, (2016). Bournvita Biscuits debut in India. [online] Available at: http://www.mondelezinternational.com/newsroom/our-stories/bournvitaindia [Accessed 8 Aug. 2016].
YouTube. (2016). New Bournvita Biscuits TVC 2016 – Subah Ka Biscuit. [online] Available at: https://www.youtube.com/watch?v=mK-GixtiTpI [Accessed 8 Aug. 2016].
YouTube. (2016). Segmenting, Targeting, and Brand Positioning Application Idea. [online] Available at: https://www.youtube.com/watch?v=5btiQlLKGyc [Accessed 8 Aug. 2016].