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Segment, Training, Position (28 Mar 2007)

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Case analysis by Professor Andrew Chi Fai CHAN (Department of Marketing, the Chinese University of Hong Kong) All firms, big enterprises or small companies alike, should formulate a correct marketing strategy prior to engaging in a new business. According to the so-called 'STP process', a company needs to define an appropriate market segment, select its target and define its market positioning. In doing business, the cheapest offer does not always win the bid. In some cases, consumers do not welcome products that are easily affordable. Therefore, it is essential that a firm should set a correct price and concentrate its publicity efforts on the intended customers. Even for small- and medium-sized enterprises, given that their marketing strategy is well defined, they can compete head-on with bigger players in the market. This edition features the experience of the marketing division of China Light and Power Co Ltd to examine how does it change the fate of electric magnetic cooker from a least wanted item to an essential part of a modern household. By changing its marketing strategy, the company has successfully developed a new and growing market. Meanwhile, the episode also studies the cases of two small and medium-sized firms, known as '80M Bus Model Shop' and 'Lunch Republic', which have gained their shares in the market despite of fierce competition.

Program: 
Wins on Marketing
Publish Date: 
Wednesday, March 28, 2007
Station: 
RTHK
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