Khalisi Inc. is a service provider company that supplies pets and has been operational for ten years since it was started in the year 2008. The firm's operations are based on the use of technology to provide transport services by running an Application where customers request for pets online. The company made a recent innovation where it introduced a new type of service to its customers. You could ask for different kinds of help starting from food delivery, mail and luggage delivery, laundry, to car repair.
The SWOT analysis methodology is significant to ensure Khalisi employs efficient marketing strategies for its new invention (Santos, Laczniak, 2015). This strategy would help the firm leverage its strengths to take advantage of the opportunities that exist in the market.
1. Quick services2. Impressive relationship with the customers3. Trustworthy employees and quality deliverance4. Affordable pricing strategy
1. Inadequate staff to run the new business2. The new App does not fall under the old image or reputation of the company.
1. This kind of service provision has not been well explored.2. Most people would like to have deliveries brought to them3. People prefer the affordable prices
1. Competition from the existing rivals2. Building a new brand image
Khalisi Inc. Overview
The target market for the new product produced by Khalisi pet supply store is the homeowners as well as organizational offices in New York as well as other parts of the US. This condition is because the two target markets have a variety of services that they find hard to take care of hence would love to be assisted and that is where the Application comes in handy. The city has a population of 19.86 million people, approximately showing the broad market to be explored. Besides, using the PRIZM segmentation model reveals that three of the five primary segments in New York have a high living standard, well-paying jobs, and businesses, and high household incomes hence can afford the services.
Households are a significant target market since they need most of the deliveries done for them. They seek a person that can do most of their tiresome activities like going to pick letters, buy food, and do laundry while they sit back and wait. Besides, they prefer faster services. One key aspect that most customers consider is privacy and security when dealing with a new company. The New product introduced by Khalisi meets these requirements and is the best choice for anyone seeking such help.
The two primary marketing strategies that the company should employ include advertisement and in-store promotion (Armstrong and Kotler, 2015). The ad is done on television as well as on YouTube. It should involve the pricing, location of the firm, development, and information regarding the functioning of the product. Besides, in-store promotion can be done by convincing the already existing customers of the previous services whenever they make a purchase. Both strategies consider the 4ps approach, where information about the price, place, promotion, and product is described.
The company should avoid visual marketing strategy since the functioning of this product cannot be explained by merely viewing the Application. It involves the entire ordering and delivery process. This strategy would not describe the 4Ps well-enough (Resnick et al., 2016). If changes are made to one or more of the 4Ps, the procedure would still be irrelevant.
Khalisi Inc. started as a pet store that delivers pets online. It had made successful operations and decided to introduce a new product which is a Software Application that allowed customers to request various services. To know the effective marketing strategies to be employed, a SWOT analysis is carried out. Besides, you need to understand the target market before introducing a product. The organization used two primary marketing strategies including advertisement and in-store promotion.
Armstrong, G., Kotler, P. (2015). Marketing: An introduction (12th ed.). Upper Saddle River, NJ: Pearson Education, Inc.
Santos, N., Laczniak, G. (2015). Marketing to the poor: A SWOT analysis of the Market Construction Model for engaging impoverished market segments. Social Business, 5(2).
Resnick, S. M., Cheng, R., Simpson, M., Lourenco, F. (2016). Marketing in SMEs: a 4Ps self-branding model. International Journal of Entrepreneurial Behavior Research, 22(1), 155-174.
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