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Market and Competitor Analysis The paper is concentrated on the discussion of the new website, web a new product of West Texas Inc. , a website the main aim of which is providing a wide range of consumers with the newest movies, music and video games all over the world, working 24 hours a day, 7 days a week, with scoping the widest range of the auditorium and offering new ideas for the traditional business in this sphere. The work will show and develop a possible promotion plan for the website, with displaying the strengths and weaknesses of the web product. To make the web product (a website in our case) popular, it is necessary to take into account the four main notions of the marketing strategy, that is, Place, Price, Product and Promotion. Simultaneously, it is also necessary to remember, that convenient navigation, bright and well developed design and the speed and customization of each user will bring the desired result, as the main purpose of any Internet project is to turn the visitor (the user) into the customer. (Dahlen & al. , 2003) The present idea has got huge market opportunity and potential, though the market segment of video, music and games is very competitive, and is full of different offers, the amount of unmet needs is still very high. Customers and Internet users need global, well developed and constantly working network resource with the fullest database and the reasonable prices. Most similar websites don't offer the latest releases or offer them at too high prices, making their buying non-profitable for the customers.
Thus, West Texas Inc. has created a web resource to satisfy these unmet needs, basing its promotion on the main idea of compensating the lower prices by the higher number of customers. Despite the fact, that the market segment in which the present site is located might seem saturated at first sight, the main problems with which the users of such resources collide are the following: low speed of downloading; inconvenient navigation; absence of benefits and discounts for constant customers; problems with the copyright and presence of illegal copies of the products. (Zufryden, 2000) The website will be designed to meet these unsatisfied demands, thus attracting the higher number of customers. The site will offer both new and used products of similar origin but for different prices, which will give the customer better choice. The promotion plan for the present website might include the following stages: defining its actual marketing position; defining the perfect marketing position; developing strategies for achieving the perfect marketing position and comparing the achieved position with the perfect one. 1. In defining real product positioning on the market it is necessary to note that the website still goes through its stage of development.
Its target audience is very broad, as the website is aimed at satisfying the needs of all layers of customers of all ages and interests, from teenagers and children to aged people. The website is yet not well known to the Internet users and thus needs a thoroughly developed promotion plan. The website is not yet presented in any popular search engine, and does not have any banners on any popular websites, which is necessary for making it popular. The idea of creating the fullest database of movies, video games and music is potentially profitable though not very unique, thus with the use of the correct marketing strategy it will bring financial profits. (Dahlen & al. 2003) 2.
The perfect website positioning will result in bigger audience and will imply the location of the websites references in search engines with free access of consumers to them. In perfect situation, the demand for the products offered should slightly exceed the supply, with the name of the website being connected by the consumers with the notion of high quality and the best delivery. 3. In order to reach ideal product positioning it is necessary to develop a strategy of promotion, which will include all the necessary aspects related to the fact that we deal with e-commerce. First of all, to achieve perfect product positioning, it is possible to concentrate on one or two products among all others, which will be given more attention and thus may become featured. Information and ads about these products may be placed in several leading search engines or popular websites. It is usual, that in different Internet marketing strategies, the first step is to develop a great product, which will be different from anything existing on the market, but we have already developed great idea and need its successful promotion.
Purchasing advertising and search engines together with bulletin boards represents a kind of short-term strategy, which is usually to be combined with a long-term strategy, presented through opt-in-lists and freebies. (Dennis 2002, p. 16) Among the abovementioned means of promoting our online business, we should concentrate and implement the positioning of the website through search engines, adding voting and newsletters to our website. These actions will lead to the higher popularity of our website, and voting will let us know, which products are the most popular and which of them need improvement. (Zufryden, 2000) 4. It has been said, that perfect position of the website will display itself through constant exceeding of demand above supply. The chosen strategies will lead to the higher number of website visitors, but the acquired position wont be ideal, as it will need profound development of the website itself, through choosing correct expressions and words, to turn the visitor into the customer. Simultaneously, concentration on search engines usually distracts attention from the possibilities of direct emailing and direct linking through similar websites. Thus, the chosen strategy will not lead to the perfect website positioning, but will make it closer to the desired one, thus allowing better understanding and viewing the further steps of the promotion strategy.
Works cited (1) Dahlen, Michael, Rasch, Alexandra & Rosengren, Sarah. Love at First Site? A Study of Website Advertising Effectiveness. Journal of Advertising Research 43 (2003): 25 - 29 (2) Dennis, Charles.
Marketing E-Business. London: Routledge, 2002, p. 14 - 27 (3) Zufryden, Fred. New Film Website Promotion and Box-Office Performance. Journal of Advertising Research (2000): 55
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Research essay sample on Marketing Strategy Market Segment
