- Evaluating net contribution of each business unit to overall company profitability
3. How can Polaroid ensure that it properly plans its marketing efforts to reach the target markets effectively How will these plans change as the target market become older
The firm is offering diversified line of instant imaging products. As such, marketing efforts should be differentiated depending on the demographics of intended market. The marketing strategy should suit the target market.
Given a wide target market range, there should be market segmentation followed by product positioning to effectively penetrate target market.
Focused Group Discussion.
- Invite people within the target market and tackle what are the marketing factors or strategies which have great impact on their decision to purchase Polaroid products.
- Holding another round of discussion with those who purchased the product and take note of their feedbacks on the various aspects of the products.
Profiling of Customers and Target Market. To ensure that marketing plans is going through the desired direction, compare profile of customers with that of the potential market initially targetted.
Trend Analysis. For an effective marketing plan, current trends must be considered. Polaroid can take advantage of current trends in the environment when planning and implementing its marketing efforts.
4. Core competencies are critical aspects of strategic infrastructure. Identify Polaroid's core competencies. Into which categories can they be grouped
Technological Competence. Polaroid has the ability to come up with innovative instant imaging products. The firm's expertise along this line is already proven since Polaroid...
Technological Competence. Polaroid has the ability to come up with innovative instant imaging products. The firm's expertise along this line is already proven since Polaroid has been in the market for decades. Polaroid's track record for developing high quality instant imaging products is already tested.
Marketing Competence. In view of its expertise in instant imaging, Polaroid has strong market presence. The market is well aware of the Polaroid brand, thus, the company has an established brand equity. The brand name is trusted by the market.