iim b markguru
TRANSCRIPT
Entrance strategy: Product Diversification
According to Ansoff’s grid SeaSeoul has to concentrate on Diversification of products as they are entering in a new market (India) with a whole new line of products catering to needs of the Indian people
Promotional Marketing Strategy• Advertise during the commercial breaks between TV serials
which have high TRPs and most watched by Indian women• Cast a young woman TV serial artist who is admired and loved
by women• Be a sponsor in college and university cultural fests and
fashion shows• Be a sponsor in large and popular fashion events like Miss
India• Advertise in popular women’s fashion magazines like VERVE,
ELLE, VOGUE and FEMINA and Popular Indian magazines which are published in local languages.
Product line for India
• Natural products as they have stronghold and expertise in it
• Herbal products as Indian people have inclination towards them (like Patanjali and Himalaya Herbals)
• As there are established players and number of brands in chemical/non-herbal products
India- a unique market
• As skin colour of Indian people is generally different from that of Korean people, and as Indian people are inclined to improve the fairness of skin, a new line of products should be launched
• As many people in India are sensitive regarding the products which have animal contents in them, SeaSeoul needs to launch products free from animal contents like Starfish extract or Egg (which the company generally uses)
Marketing Mix: 4P
Competitive price as India has a huge untapped market which has growth rate of 15-20% per annum
Advertisement in print and visual media
Natural beauty products targeting young women (mainly)
Mainly urban and semi urban market