IP2 Marketing
A marketing strategy is essential for the success of any business as far as attraction of customers is concerned. It also determines the brand quality as well as meeting the demand of customers for the products and services offered. Without a clear marketing strategy, the efforts to get the approval of many customers is likely to fail because an effective marketing strategy determines the sufficiency and quality of products provided by the business to meet customer demands. It involves a short-term and long-term strategy for marketing so that the business remains competitive in the market. Kapsean Company located in London is the subject of study providing human resource training services. This paper reviews different aspects of Kapsean Company marketing strategy that effectively help it meet customer demands for the training services (Armstrong, & Kotler, 2008, p 143).
Marketing segmentation is the division of a larger market into smaller units better known as subsets of consumers with similar needs of the goods and services offered in the market. For the company to implement a marketing segment successfully, it must employ marketing research techniques to identify the patterns of similarity amount the customers in the market. Such segmentation bases include socioeconomic, product usage, demographics and psychographics. By socio economic, it means similarities in income or occupation while demographics mean those seeking training services grouped according to age or household makeup. Psychographics include similarities in product opinion, personality and attitudes (Crisp, 2007, p 403).
Based on the segmentation, the target market for the company may be graduates fresh from school because they provide a vibrant market for training. Graduates looking for jobs provide adequate market because they seek training especially human resource. Most employment companies employ trained graduates in the field of human resource because they are easy to manage and can handle situations in the company effectively. For such reason, they are the most profitable because they are in large numbers and demand for the company’s service (Croft, 2004, p 387).
Product differentiation and positioning are terms used in marketing that make the product or service of a business unique compared to other competitors in the market. Two competitors include the London School of Management and the Star College of Business and Management. Their service differentiation and positioning provides a competitive environment. Their current service positioning is “promoting excellence and integrity in management practices” for the London School of Management while Star College is “management for excellence and success”. From their positioning statements, both of them promise to deliver an excellent human resource manager through effective training. Kapsean Company has a competitive advantage over the other competitors in terms of service positioning because the company promises to deliver effective and excellent management training including attachment programs and internships at renowned companies in London. The attachment and internship service differentiates Kapsean’s service from the rest and attracts more customers (Hartline, 2008, p 207).
Based on the differentiation feature of the company, it is easy to develop a positioning strategy, which states “providing excellent management training and practices in human resource”. This statement covers value propositioning for the company because it includes the practices that cover attachments and internships. It positions the service in a manner that attracts customers by appealing to excellent management training in the wider field of human resource.
References
Armstrong, G. & Kotler, P. (2008). Principles of Marketing. London: Pearson/Prentice Hall
Crisp, R. (2007). Marketing Research. New York, NY: McGraw-Hill Education
Croft, M. (2004). Market Segmentation: A Systematic Guide to Profitable New Business.
London: Routledge
Hartline, M. (2008). Marketing Strategy. London: Cengage Learning
