Paper Topic:

Marketing Mangement

(Kotler , Chapter 11 , briefly describe which single strategy you would choose to develop to compete against De Beers in export markets outside of Canada . You will need to justify your choice of strategy , and you can assume that your organization will remain independent and not be absorbed nor controlled by De Beers or any other global diamond competitor or trade association for the purpose of responding to this question

This company is new and will have to face different types of competition outside the Canadian market . The marketing opportunities must be

available in the international market for different diamond jewels Diamond customers can be segmented in different categories like daily wear , occasion specific like wedding gifts , marriage gifts , festival gifts , and this customer can be categorized on the basis of their economic backgrounds , purchasing power and age groups . Company will be required to study different customer groups in different markets and target specific customer group according to corporate goals . This is a small company , the best strategy would be Niche Marketing for the global market . These niche segments can be decided or segmented on the basis of extensive research on various needs of consumers . It can also be a target to the extensive consumer groups and making a specific segment of the same as target consumers for instance a particular class for wedding ring gifts . It can identify the separate needs of some particular consumer groups as a niche segment . A market nicher ' serves small market segment not being served by larger firms . The key to nichemanship is specialization . Nichers develop offerings to fully meet a certain group of customers ' needs , commanding a premium price in the process The niche market should be highly profitable and should allow consumer to work profitably . The CEO can decide on the best consumer...

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