Converting the North American Decking Market Marketing Strategy Analysis & Solution

Marketing & Sales Case Study Analysis and Solution

At Fern Fort University, we use Harvard Business Review (HBR) marketing principles and framework to analyze Converting the North American Decking Market case study. Converting the North American Decking Market is a Harvard Business Review case study written by Wolfgang Ulaga, Katrin Siebenburger, Victoria Kemanianfor the students of Sales & Marketing. The case study also include other relevant topics and learning material on – Innovation, Marketing, Organizational culture, Sales, Social platforms

Strategic Marketing Analysis of Converting the North American Decking Market case study written by Wolfgang Ulaga, Katrin Siebenburger, Victoria Kemanian will comprise following sections –

• Converting the North American Decking Market Case Description
• Marketing Definition
• Market Potential Analysis of Converting the North American Decking Market
• Market Share Potential Analysis
• Segmentation and Segment Attractiveness Analysis
• Competition and Competitiveness Analysis of Converting the North American Decking Market
• Customer Value Analysis of Converting the North American Decking Market case study

Order Now - Converting the North American Decking Market Marketing & Sales Case Study Solution

Order Now - Converting the North American Decking Market Porter 5 Forces and Strategy Analysis

Converting the North American Decking Market Marketing Case Description

Sales & Marketing Case Study | Authors :: Wolfgang Ulaga, Katrin Siebenburger, Victoria Kemanian

Problem: Hilti had targeted its "direct fastening" technology - using propellants to drive nails into concrete or steel - at the large and attractive North American decking market where decking involved attaching profiled metal sheets for floors or roofs to a building's frame, mostly by welding. However, after several years, Hilti had still not succeeded in converting deck installers to its technology, and market share was in single digits. Solution: Decrease conversion barriers for all players in the value chain through a multi-dimensional approach consisting of offering product and service innovation, engineering support and new marketing tools that demonstrated the increased productivity, quality and worker safety compared to welding. Key steps: 1. Develop a customized product offering addressing country- and segment-specific requirements; 2. Launch a new service and transaction model to decrease upfront investment and switching costs; 3. Develop targeted sales and marketing initiatives to gain support from the complex network of stakeholders in the value chain. Learning objective: Understand what successful strategies can be employed to capture value from innovation in a B2B environment that represents many barriers to adoption for new technology; illustrate key steps taken by the company showcased to re-launch an innovative product in the B2B construction market that initially failed to capture market share.

Innovation, Marketing, Organizational culture, Sales, Social platforms

Marketing Definition

According to American Marketing Association – Marketing is a set of activities that a firm undertakes for creating, communicating, delivering, & exchanging offerings that have value for customers, clients, partners, and society at large.

Kotler explains - Marketing is a process by which organizations can create value for its potential and current customers and build strong customer relationships in order to capture value in return.

Market Potential Analysis of Converting the North American Decking Market

Market potential analysis comprises evaluating the overall market size of the related product that the firm is planning to launch. This will involve defining – Why the target market segment needs the product and how it will provide a solution to full its consumers’ needs. Market potential of Converting the North American Decking Market products various on factors such as –

• Maturity of the market. In mature markets the profitability is often stable but the market potential is less as most of the players have already taken market share based on the segment they are serving. New players have to go for market share strategies in marketing.
• Technological competence of the existing players and culture of innovation and development in the industry.
• Untapped market sizes and barriers to both enter the market and serving the customers. Often companies can easily see the unfulfilled needs in the markets but they are difficult to serve as there are costly barriers.
• Define the core need that your product is serving and list out all the direct and indirect competitors in the market place. This will help not only in positioning of the product but also in defining or creating a segment better.
• Uncovering the current and untapped market sizes and barriers to serving the larger market. Analyze the areas that you need to sort out while launching the products to wider market and what are the challenges the firm will face in market place.
• Estimate the current stage in product life cycle and its implications for marketing decisions for the product.

Market Share Potential Analysis

• Understanding the buyer behavior model for Converting the North American Decking Marketindustry.
• Identifying the market share drivers relevant to Converting the North American Decking Market market.
• Segment Attractiveness Analysis – Our analysis will work out which are the most attractive segments and which are the one the firm should go ahead and target. We point out in great detail which segments will be most lucrative for the company to enter.
• Understanding the different needs and relative value of your offering by segment.
• Developing segment priorities and positioning the product based on the product need fit developed by the firm.

Order Now - Converting the North American Decking Market Case Memo

Order Now - Converting the North American Decking Market SWOT & PESTEL Analysis

Competition & Competitive Position Analysis

• Uncovering customer-based competitive positions for key rivals and firm’s offering. This will not only help in assessing the strengths and weaknesses of the competitors but also help in defining and positioning of the product.
• Developing a positioning and launching strategy. It will require not only distribution channel analysis but also promotion mix for the product.
• Strategic Marketing Planning — the process of developing and maintaining a strategic fit between the organization’s objectives and capabilities and the ever evolving marketing opportunities for its products.

Converting the North American Decking Market - Customer Value Analysis

Capturing customer value is essential to marketing efforts as it results in higher return in the form of both current & future sales, greater market share, and higher profits. By creating superior customer value, the organization can create highly satisfied customers who stay loyal and buy more. This, in turn, means greater long-run returns for the firm.

• The crucial role of customer perceived value in acquiring and retaining profitable customers. Product differentiation is often based on building on a value niche that a firm believes that is very important to the customer. This niche contributes to perceived value. If the perceived value is high then customer stay loyal to the product if not then she can switch to the competitor’s product.
• Graphically displaying value differences for deeper understanding and better internal communication. This helps is building a narrative that a customer can identify with. The better the insight more are the chances of connecting with the potential customers.
• Identifying and selecting actionable value creation options. This can help in increasing the customer lifetime value. Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage.

NOTE: Every marketing case study solution varies based on the details and data provided in the case. We write unique marketing strategy case solution for each HBR case study with no plagiarism. The specific case dictate the exact format for the case study analysis.

You can order Converting the North American Decking Market Marketing Strategy Case Study Solution with us at Fern Fort University .