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Retail Market Strategy For

A F&G Company

Steps to Introduce To a New Market


Market Research (Understand The Target

Market)
Use the Target Audience Profile (TAP) template to gather and
interpret this information. Learn which buying criteria your target
audience uses.

Under Stand Your Competition


Conduct primary and secondary research (see On The Marks
Market Research tools and articles) to determine how your
competitors are positioning themselves, the strategies theyre
using, and how successful theyve been.

Map Buying Criteria Against Competitive

Positioning
To understand the buying preference of the Target Market as per

Steps to Introduce To a New Market


Assess your products strengths against the

buying criteria
To get approximate idea about the products strength.

Analyze The Gap.


Review the completed Positioning Triangle analysis to determine if
there are any vacant positions in the market. Is there one your
product satisfies effectively? Would successfully positioning
yourself there yield the returns you seek? If there are no unfilled
positions (or there are but youre not interested in any of them),
then you will have to decide which competitor to battle and which
position you can most effectively win.

Marketing The Company


While marketing is a critical step, it must be in sync with the other
steps to ensure a successful launch.

Customer Profitability Analysis


Step 1 Customer segmentation

1. Demographic Segmentation
2. Psychographic segmentation
Step 2 Revenue attributable to each segment
Step 3 Use ABC to determine the cost attributable to each
segment
Step 4 Analyze the profitable versus the less profitable or
unprofitable customer segments
Step 5 Develop strategies to maximize profits from
profitable customers and reduce or eliminate less profitable or
non-profitable customers
To address the least profitable or non-profitable customer
groups, two main actions are used
1. Elimination
2. Re-Engineering
Step 6 Review the impact of the new strategies on the

Advantages of CPA
Improved profitability by eliminating non-

profitable customer.
An understanding of True cost of each
customer segmentation.
It provides a method of identifying customers
groups who are of lifetime value to the
company
Improved strategic decision making by
providing useful information for customer
related decision.

NICOSIA MODEL OF CONSUMER DECISION


1. Marketer's communication affecting

consumers attitude
2. Consumer's search and evaluation
3. Purchase action
4. Consumption experience and feedback

NICOSIA MODEL OF CONSUMER BEHAVIOUR

HOWARD-SHETH MODEL
It distinguishes three levels of decision

making:
Extensive problem solving
Limited problem solving
Routinized problem solving
Major Components
Input Variables
Output Variables
Hypothetical Construction
Exogenous Variables

Engel, Kollat, and Blackwell (EKB) Model


The five distinct parts of consumer
decision making
presented are:
Input
Information processing
Decision process
Decision process variables
External influence

Conclusion
India is big country. Population is more than 100 corers.

Thus the Indian consumer market is absolutely unsaturated


in all fields. Creating segmentation is also neo thoughts
here. Although some segmentation process on the basis of
geographic or demographic are done here. But the
psychographic segmentation especially VALS is a rare story
in this market. All the previous case studies are showing the
some unstructured model of segmentation. But even with
that model companies are gaining some profit and they
become role model for others. So if company can implement
the segmentation process in a scientific way they can earn
more profit and may be the pioneer in their field. VALS
psychographic segmentation process brought a lot of
success in develop countries, and it is also expected that
psychographic segmentation process can create history in
India.

OUR TEAM

Prepared By : MBA (EVENING) SESSION : 2015-17


1. Ayan Banerjee (06)
2. Shreyansh n. Mehta (40)
3. Payel Roy (03)
4. Joyeeta Roy (04)
5. Sourav Saharoy(09)
6. Krishnendu Das (35)
7. Sumit Das (33)
8. Susanta Seal (16)