Strategy A: Marketing Objectives

The first and overarching objective is to inform and persuade the target market that the product is worth buying as it will add value to their lives as well as the lives of their children. This goal is designed to emphasize the product features that are aligned to the value proposition, with the sole intention of showing why customers need to buy or own it. The second objective is to uniquely position the product, thereby setting it apart from similar offerings in the market. This objective might appear identical to the first, but it could not be more different; according to Keillor (2013), one sells the value proposition while the other outlines the competitiveness of the product vis-à-vis rival products. The superior quality – as per materials and design – and a standout feature of the journal, which is that it captures daily rather than general childhood development, will be highlighted as part of this objective. If accomplished, this objective will ensure that the product is incomparable even before it reaches the market. The third objective is to gain at least a 10% market share within the first year of launching the product.

Strategy B: Target Markets

The product will be designed for and marketed primarily towards mothers and mothers-to-be as well as parents and parents-to-be. Grandparents, friends, and close relations of this demographic will also be considered, but they will be viewed as a secondary target market. The advent of the Internet and information technology has provided new and more sophisticated ways of keeping track of the progress made by infants, including digital and mobile phone cameras, digital and mobile phone video recorders, and voice recorders. However, as with letters, physical and written archives still carry considerable sentimental value and can be stored and referenced for generations (Dolnicar, Grün, &Leisch, 2018).

In terms of attractiveness, the core target market requires a beautiful, well-designed, and day-to-day journal that allows it to record the development of children in the first year. The age bracket that will be targeted will range from 25 and above. The rationale behind this selection is that people in this age group tend to be more mature and composed; as such, they are more likely to defy the pressures of technological advancements and opt for more memorable ways of capturing children’s development (Dolnicar, Grün, & Leisch, 2018). Besides, they are more likely than younger counterparts to understand and appreciate the importance of journaling children’s progress; consequently, the probability that they will buy the journal is high.

Strategy C: Positioning Strategy

As has already been mentioned, Dimitri’s journal is a pioneer in the sense that it is one of the few that allows mothers and parents to archive the steps made by their babies daily. It is not only a unique selling point but also a source of competitive advantage. Also, while the pricing, designs, and illustrations of competing products are compelling, Dimitri’s journal provides a better experienceconcerning the qualityof the materials: top-notch and light. The design is systematic, precise,and informative, and gives the product an advantage in terms of durability.

The journal will compete on user experience, not price as competitors are inclined to do; this means the journal will be priced a little higher to give it an exclusive edge anddifferentiate it. According to Boone and Kurtz (2014), avoiding price bywars is beneficial on two fronts. First, it resonates with the target market, which prefers quality over pricing and will not hesitate to spend on products that will enhance their quality of life. Second, choosing to compete on quality will accelerate the company’s quest to make rapid inroads into the target market, which is a niche (Boone & Kurtz, 2014). Price-based positioning does not suit the journal as it is not intended for mass market consumers, where competitors have the upper hand.

References

Boone, L.E., &Kurtz, D.L. (2014). Contemporary marketing, update 2015. Mason, OH:Cengage Learning.

Dolnicar, S., Grün, B., & Leisch, F. (2018).Market segmentation analysis: Understanding it,doing it, and making it useful. Singapore: Springer Singapore.

Keillor, B.D. (2013). Marketing in the 21st century and beyond: Timeless strategies for success.New York, NY: ABC-CLIO.

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