PHOENIXDepartment of

MarketingUniversity of

Dhaka

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Strategic Analysis of OTOBI Furniture’s

Global Venture

Table of Contents

01

02

03

04

05

06

Positioning the Brands and its Products

Creating a Marketing Budget

Possible market offerings

Budgeting

Appropriate communication approaches

Standardization vs. Adaptation

Positioning the Brands and its Products

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• Determining current position OTOBI has• Identifying direct competitors• Comparing brand positioning to its competitors• Developing unique positioning ideas• Testing the efficiency of positioning strategy

Brand positioning• Single Message

• Connecting customers• Differentiated product

• Sustainable, consistent and believable message

Product positioning

Appropriate communication approaches

Public relation3

Trade show1

E-mail marketing2

Social media marketing

4

Market Research

7

Advertisement through print

medias

5

Advertisement through electronic

media

6

Telemarketing8

Market offerings to attract customers

Rent-to-Own• Rent to own is one of

the most popular offers in is furniture business because of its typically high prices and the fact that it is a general necessity for homeowners Consumers are attracted to this option for large-scale purchases because it allows them to buy the furniture they desire

Holding a ContestHolding a contest will automatically enter our customers into a contest when they purchase furniture from us. Contests can be extremely effective when used as part of a comprehensive program and it can be a great tool for adding fan base. In addition to increasing the sheer number of people who interact with our brand, a contest provides a means to deepen the connection as well.

Having a saleWe can offer a holiday or other discount to either the general public or your best customers. This will increase our interactions the customers and more people will get to know about the furniture we sell by using it. We need to be careful not to offer too many; your customers might begin to wait for a sale

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Market offerings to attract customers

Giving Something Away for FreeHand out different promotional products branded with our logo, or other gifts at a key location. This lets people experience what you have to offer first-hand at a key location. It can be small things like t-shirts, key rings, caps, wrist brand but have to be visible in the eye so people have our brand in their mind when they consider buying furniture.

Frequent Buyers CardsWe can offer customers a slight discount or free product after they’ve made a specific volume of purchases. Because the loyal and return customers play key role in the success of the business.

Offer Free Shipping and InstallationThe word “free” is always attractive to customers, and free shipping is usually a reasonable discount for furniture. Moreover, it costs a good amount of money to install furniture. So, when we offer to do it for free, it will certainly catch some attraction.

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Market offerings to attract customers

Offering Easy Payments or Installment Plans

As furniture costs a good amount of money, it isn’t easy for all customers to pay the total sum upfront. So, we could make the payment easy by monthly or yearly instalments. These are simple ideas that attract customers by making our products more affordable

Offering Trade-inFurniture turns old as with the usage. We can reward customer loyalty by encouraging them to trade in their old product for a discount on something new. It will certainly not cost us too much but make these customers permanent buyers.

Offer Guarantees and Easy Return Policy

A guarantee helps inspire confidence in buyers and highlights our integrity. And impulse buyers will be more likely to purchase items that they can easily return later if they choose.

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Objective and Task MethodBusinesses that use the objective and task method for determining advertising expenses allocate the marketing budget based on set objectives. To use this method, a company must define the desired results of advertising and the strategies and tactics required to achieve these results. Additionally, the business must assess the costs associated with these strategies and tactics. If no financial restrictions exist, a company can build its marketing budget by examining each goal or objective and the tasks necessary to reach these objectives. A primary challenge associated with this method is the difficulty of accurately assessing the advertising costs necessary to accomplish the goals.

Budgeting

Creating a Marketing BudgetTo develop a marketing budget using the objective and task method, a company must determine its marketing objectives and the tasks required to perform those objectives. To calculate the promotional expenditures, the business must evaluate the costs of each task. Additionally, when using this method, businesses should monitor competitors’ activities and compare internal results against industry averages. Further, businesses must specify when to make advertising expenditures while maintaining an element of flexibility. Finally, the objective and task method requires the business to monitor the actual results against forecasts.

Standardization vs. Adaptation

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Overall marketing communication approach should have to be adapted according to the various needs of the market as and when necessary. Some of the adaptable factors are:

1 Language

2 Gesture

3 Various offers and elements in the advertisements etc.

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