Submitted by: Submitted by shahrin300
Views: 10
Words: 1052
Pages: 5
Category: Business and Industry
Date Submitted: 07/22/2016 09:56 AM
Kids Market Consulting
Natalia Berezovskaya established Kids market Consulting (KMC) in 2004. The
company offer market research services, which is a fast growing industries in
Ukraine after the country independence from Union of Soviet Socialist (USSR).
KMC enjoy 2 years of steady growth before facing declines in sales due to intense
competitions.
First sources of competitions is the advertising companies. They used to
outsources market research work, but now prefer to conduct it themselves in order
to gain more profit. Second competitions is independent consultation. Nonetheless,
they don’t impose much threat since they are not fully capable as full time market
research firms. Based on both competitions, Natalia realizes that she is in danger
and need to implement strategic planning in order to save her company.
Strategic Change
KMC first challenges is potential clients don’t recognizes the importance of kids,
tween and teens market research. This is because kids, tween, and teens market
was labelled by Ukraine firm as customer without disposable income. However,
KMC research had proven that these target market do have their own disposable
income which can be used for spending.
Thus, KCM strategies is to expose this informations, alongside other vital
information in order to increase attentions from potential customer. KMC
promotions on knowledge and awareness was performed through seminars,
presentations, various meetings, and also workshop named “Child-targeted
Marketing”.
After stabilizing their positions in the industries. KMC was faced with another
challenges, which is competitions from non-specializes Ukraine firm. These firms
increase number of competitions in the market and reduce KMC market shares.
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Thus, Natalia need to make another strategic decision either to expand to other
geographical area? Add more services? Or Target another niche market?
Strategy development
KMC strategic plan start prior to its...