Market
Research:
Natex
conducted extensive market research both for the domestic and international
markets to assist with:
-
distribution
-
product quality
-
packaging
-
promotion
Our
market research was conducted considering factors such as:
-
demographics
-
psycho graphic behaviour
-
geographical aspects
-
behaviour of consumers
-
forecasts of industry growth
Natex
closely analyses the activities of our competitors in order to "benchmark"
and implement standards that exceed our competitors. We look at what others
did and why they failed so as to make sure that we do not. On the other
hand we also look at what has worked for others and try and better whatever
others have had success with.
Target
Market
The
target market of Natex is a multi-segmented market aimed at a wide base
of health-concious customers and those in related areas or fields.
Product:
Natex,
through the increase in quality of raw materials and packaging, we will
restore the reputation of the company and gradually change the products
current target of a lower economic base that that of high quality slightly
upper market product, but that is still affordable for a wide customer
base.
Position
(in the mind of the customer):
Natex's
new policies implemented since take-over are that of a devotion to our
customers and after sales service in conjunction with the development of
a high quality product that creates an aura of prestige and perceived value
in the mind of the customer.
Price:
As
Natex improved the overall quality of our products via things such as an
upgrade of raw material quality and improved packaging and after sales
service we moved from a penetration pricing strategy (to increase market
share), to a competitive pricing strategy.
Promotion:
At
first, the majority of promotion was personal selling tactics. Sales persons
attended to customers in retail stores and "on-the-road" sales. As demand
and production levels increased, the number of sales representatives was
increased to meet individual needs and wants for existing and potential
customers.
As
a result of advertising target markets were reached, through the utilisation
of multimedia such as television, radio, billboards, newspapers and magazines.
Using such a wide range of medium we reached a large number of people in
many different cross sections of the community.
Place:
Natex
used selective distribution techniques so as to broaden our client / customer
base as the level of production increased. Recently Natex has begun to
form alliances with a number a major sporting goods stores as well as retail
outlets. Due to the success of this we are considering opening a number
of our own retail outlets to complement out diversification process into
the sporting services market.
The
up-coming diversification of Natex with the "National Exercise Network",
which will link hundreds of gyms throughout Australia via one membership
will be aimed at people who are on the move regularly (e.g. Business
people) but still want to visit the best gyms, and at a fraction of the
price of a regular membership.
* Stay tuned for further developments in the exciting new areas that
Natex in forging into. |