Pressalit.dk: Product Marketing and Expansion
Pressalit.dk is a family owned Danish company that operates in 45 international markets with more than 300 employees. 15% of the company employees are foreigners. The company bases its operations on values such as listening, acting, giving and playing (pressalit.com). The listening part implies that the company works with the objective of addressing the customer needs as reported by the customers themselves. On the action part, the company acts purposefully, responsibly, innovatively, and dynamically to enhance their credibility across the international markets. The company also gives opportunities to the employees and the customers to give their own ideas through an innovative process that they link with playing (pressalit.com). In all its activities, the company focuses on providing solutions for the kitchen and bathrooms. The company thus markets its products through the use of different social media platforms and the company website.
Although Pressalit.dk has a well formulated structure and an effective strategic plan that includes its core values, the company is continuing to expand and will probably enter into new international markets in the near future. Because of this, there is need for the company to advance its marketing strategies to be capable of capturing higher market shares in the targeted markets. The objective of the research, therefore, is to determine the range of marketing strategies that can be used by the company and how this can help the company to get more involved in the activities that better address all aspects of their intended expansion business. For this objective to be achieved, the study will answer the following research questions:
- What prospects is Pressalit.dk pursuing in the international markets and what chances are available for them?
- What is the probable outcome of new market activities with more intensive marketing approaches?
- Which marketing strategies can be used by the company to successfully run its expansion projects with positive outcomes?
By answering the study questions, it will be possible to understand the company operations and subsequently write reports to the marketing team.
The study is based on the present position of Pressalit.dk. As such, it is of necessity to understand not only how the company operates, but also the target market within which it operates. Marketing activities can only be successful if the targeted markets are clearly outlined and the approaches taken to market products are in line with the needs of the target markets. In the present study, the markets targeted by Pressalit are the elderly and general household shoppers, especially women. Those in the construction industry are also targeted by the company’s advertisements. This calls for the organization of marketing activities that are sufficiently versatile to cater for the needs of all the individuals in the targeted markets.
The elderly and the handicapped are targeted by a range of bathroom products especially designed for them. Pressalit.dk markets its bathroom range for the elderly and the disabled as easy to use and flexible (pressalit.com). With such kind of advertisement, it may not be possible to even get the attention of this kind of target population. Such people need more visual presentations of what is marketed. Moreover, the probability that such people, especially the elderly, would see those adverts from the company website is also limited. Pressalit should therefore come up with marketing strategies that address the needs of the targeted populations and post videos on television networks and pictures on print media. Performance in this area may be evaluated by the number of new clients attracted after the advertisements relative to the number last year.
Similarly, household products, such as kitchen and bathroom fittings target people with families and those who desire to remodel their houses. Advertising towards this target market can be challenging due to the wide range of demographic descriptions that fit the group. However, the company can address this issue through the use of a dynamic marketing strategy. Effective use of social media, posters, as well as various print media can help to reach the young while also reaching those with busy schedules such as construction workers who would recommend certain products to their clients. Through the application of such diverse marketing strategies, Pressalit will be able to advance its market shares to greater values.
The study to be addressed will be based on a theoretical approach to research. Because of this, the mixed method of research will be adopted for this particular study. The approach has been established to be effective where there are both qualitative and quantitative aspects to be considered in the results. For instance, in the present study, it is desired that an action plan be established based on the information at hand. Similarly, a score card will have to be put in place to help evaluate the company performance based on the set goal and timelines. The mixed method provides a good opportunity to explore all aspects of organizational development.
To better understand the position of the company and to come up with feasible solutions to its challenges, the approach will be supported through the use of secondary research methods. This will involve selection of various past literatures for the research purpose. Literature selection is intended to be methodological, involving inclusion and abstraction of information from various sources. Initially, different search key words will be used to obtain materials that are relevant to the study. For instance, words such as Pressalit, Pressalit.dk, marketing approaches, and online marketing will be used to gain access to recent documents on marketing and to financial and other records from Pressalit. Once these are obtained, the focus will be on the most relevant aspects presented in the past literatures. Repetitive abstraction and summary will help to access only the most relevant pieces of information from the chosen sources and to exclude the rest.
Critique of Sources
One of the sources for the study is by Guion, Kent and Diehl (1- 4). In the article, the authors describe how to conduct marketing activities effectively in an ethnically diverse market. For Pressalit, the challenge comes in through two ways. Firstly, the targeted market is multi-national and hence ethnically diverse. Secondly, the market is segmented generationally. This calls for stringent measures in evaluating the most relevant approaches to gain the confidence of the market. The authors further describe the key mistakes that businesses make in such marketing, including using a general marketing approach for all the target markets and basing diversity on the concept of giving back to the community as other organizations may do. Through understanding of the existing diversity and needs of employees, it becomes easier for the company to decide on the most suitable marketing strategies to be used. While this article provides sufficient information about dynamic marketing considerations, it does not provide any details about particular marketing strategies and how they fit into specific market target groups.
Bush and others (2-3) describe how strategic marketing can be done through the use of ethnic rather than generational approaches. According to the authors, the generational marketing poses a limitation in that it assumes that all members of a particular generation may be influenced in the same way by the same advert. The authors assert that this is not true and thus ethnic marketing can be more effective. For a culturally diverse organization such as Pressalit, understanding the ethnic diversity in targeted expansion areas can be the starting point of effective marketing designs. Thus, there has to be an understanding of the cultural norms and language in order for the marketing approach used to succeed. The article provides a good background understanding on how to plan and execute such product marketing approaches. However, just like the previous article by Guion and Others (1-2), Bush and others do not provide sufficient details on the methodologies for actually conducting the marketing activities.
The study is designed to help Pressalit identify opportunities for growth and success through the use of the company website as well as various other media for marketing purposes. By using various past academic articles, it is believed that the organization can explore the concept of ethnic marketing in order to address the needs for expansion. Furthermore, the company can also check on the generational marketing concept to fully utilize its capacity. The key limitation of the used articles is that they both do not offer concrete solutions to the marketing problems experienced. However, through applying the basic principles outlined in the two articles, the company will be able to achieve its marketing objectives.
Bush, Ian, Daniels, Damminger, Rachelle, Lisa Marie and Laoye, Elizabeth. “Communication Strategies: Marketing to the Majority Minority.” Concept Journals, 2004. Accessed from www.concept.journals.villanova.edu/article/viewFile/244/208.
Guion, Lisa, Kent, Heather and Diehl, David, C. “Ethnic Marketing: A Strategy for Marketing Programs to Diverse Audiences.” University of Florida, IFAS Extension, 2005. Accessed from www.citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.506.9340&rep=rep1&type=pdf.
Pressalit.com. Accessed at www.en.pressalit.com/about-pressalit/company-profile/values.