It can be said that operating in repertoire market requires focusing on light users along with concentrating on existing heavy users. This will help in creating a long term impression and value in the business environment. The second part of the discussion talks about awareness and salience where three questions over brand salience and top of the mind impression has been discussed. It is important to create brand salience using marketing and promotional strategies in order to grow and develop as a brand. At the same time, brand salience offers long term competitive advantages considering the fact that customers remember a product for a long period of time and thus helping in strengthening the sales prospects. The discussion also reflected that Mars is preferred by large numbers of consumers and much should be credited to its branding and promotional strategies. The third part of the discussion assesses the demographic factors where it was found that large number of customers preferring different chocolate brands have similar demographic factors. This shows that organsiations need to design an effective marketing strategy that will lead to value creation for all. On the basis of the discussion and analysis, it can be said that Mars certainly holds competitive advantages over its competitors in terms of market share and penetration. Section-1: Brand Performance As per the table highlighting the differences and patterns between the competing brands and Mars, It can be said that Mars has largest market share that shows its acceptance as a brand. Moreover, it also shows that consumers prefer Mars over Kit Kat, Snickers and Nestle Gold. The market penetration is one of the four the growth strategies that is a part of Ansoff Matrix. It shows that an organsiation operates in the competitive business environment where similar product already exists. The best way to achieve the competitive advantage is to gain the customers of competitors. In this case, the market penetration for Mars is the highest (72) and can be considered as quite effective and impactful. The average purchasing frequency is 2.2 for Mars, 2.3 for Kit Kat and 2.0 for Snickers. This shows that in terms of average purchasing, Mars has a close competition with Kit Kat and Snickers. The category buying rate of Mars is the lowest at 5.8 with Kit Kat at 6.2, Snickers (7.4), Twix (7.3) and Nestle Gold (8.5). However, the sole loyalty of Mars is 22 compared to Kit Kat (7.7) and Snickers (4.2). Overall, Mars has an edge over its competition in every aspect other than category buying rate. Mars is operating in the repertoire market considering the fact that consumers have multiple choices while choosing their preferred chocolate. Moreover, in repertoire markets, decisions are affected by impulse buying and often based on words of mouth. On the other hand, subscription market is quite different from the repertoire market. Subscription market is for purchasers who are loyal and purchase products and services with certain degree of regularity. However, the average purchasing frequency and market share reveals that consumers prefer different brands where Mars has an edge over its competitors but the kind of market it operates in cannot be considered as subscription market as there are no signs of customer loyalty and regularities in
Buyer and Consumer Behaviour: Measuring and Interpreting Brand Performance By [Name of student] [Presented to] [Name of institution] [August 09, 2011] EXECUTIVE SUMMARY The role of marketing and promotional strategies in enhancing the worth and importance of products and services is a known fact (Fan, 2002)…
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8 pages (2000 words)Assignment
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