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Halewood - Essay Example

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Halewood

Halewood must be cognizant of the fact that it is very difficult to introduce a new product in the market and this is even worsen if there are alternative product that has been in the market for a long time that will be posing a challenge. It thus needs several strategy measures to ensure that the expectedniche is occupied in the market, among other things that will affect their marketing strategy in this case includes; Competition from Alternative Products In designing their marketing and service delivery strategy, the company should look at the issue of alternative products in terms of prices, availability, and the customer’s loyalty associated with them. This is very important in coming up with a marketing strategy that will counter strong sense of establishment in the market from other products. Prices of the alternative products will play a significant role in affecting Halewood marketing strategy because for them to make a break through, they have to retail at a cost lower than those of the established product. The cost of the alternative products will thus be very critical for Halewood to make informed choice on how best they should sell their products in the market in order to have a competitive edge. The availability of the product is equally important for Halewood to evaluate the strategy that should be used to make the product have sufficient inroads in most of the prospective market zones. In most cases, one will find that products availability are skewed to one zone than others, with this realization, Halewood are able to have different strategies in the different areas based on the intensity of other products in the different areas. In an area with more competitive products, there will be intense marketing than those areas that do not experience business rivalry on the same product. Product’s Strength in the Market Halewood will have to consider their product’s strength that the competitive products are not giving, Like in the case of the new product being introduced, the company came up with this taste to provide a solution for those who want an alternative product to consume other than Alcohol or caffeine. This is the strength of the product the company has come up with that probably most business competitors are not providing; most of the probable competitors provide purely alcohol or soft drinks. In this case, Halewood will be providing an intermediary product that will cater for the needs of those who do not want alcohol and caffeine in the afternoon. In their marketing, this should be boldly captured so that the prospective customers can know the unique taste that is provided by the new product (Lawley, 2007, p.83). The fact that the new product is designed in a way to bring in a new taste in the market should be categorically captured in the marketing strategy so that the customers will develop the urge to have its taste and make choice out of it. Understanding Competition Introduction of every new product in the market meets an existing competition, to effectively compete with those companies that are already established or introduce customers to new products, a lot has to be done in relation to understanding strategies used by other companies. This will involves researching on the marketing strategies of the competitive companies so that a good understanding of their strengths and weaknesses are known. This will help Halewood to devise a marketing strategy that will counter those that are played by the competitors, it is important to understand the strengths and weaknesses of the competitors in deciding which option to consider (Lawley, 2007, p.88). Having known the weakness and the strengths of the competitor ...Show more

Summary

There are many challenges that Halewood Company will be facing in their endeavours to Market their new products ‘Faith’ and to eventually cut themselves a niche in the crowded UK market.In order to market their new products in a strategic way. …
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