Elephantine failed due to a lack of market research, focus on segmentation, targeting, and positioning (STP), overly product-oriented approach, poor people management, and lack of sales aggressiveness. Whiz-Bang succeeded through proper SWOT analysis, focus on unique products and STP, aggressive sales force, understanding consumer behavior, and product testing. Whiz-Bang's core processes included thorough market research, customizing products based on research, intensive marketing and sales support, and screening products.
2. In the given market opportunities
Why did elephantine fail ? :
• No proper Market Research
• No focus on STP
• Product-oriented Approach
• No Proper People Management
• Lack of aggressiveness and keenness in sales
• No idea screening and testing of the product
• Unprofessionalism in General Manager
3. And, Why Whiz-Bang succeeded
-SWOT analysis
STRENGTH- WEAKNESS-
- UNIQUE PRODUCT
- PROPER : S-T-P
- PROPER COMBINATION OF 4 P’s
- AGRESSIVENESS IN SALES FORCE
OPPORTUNITY THREATS
-NO COMPETITOR
-Consumer adaptability of the
product
4. Core Process used by WHIZ-BANG
• Proper Market Study/Research
• Customizing/Enhancing
• Aggressive Marketing
• Intensive focus on sale service and support
• Understanding consumer behaviour
• Proper screening and testing of the product
5. Apart from above mentioned –
Whiz-Bang created a competitive advantage by proper
understanding of
3 Vs of SUCCESS
Valued
Customers
S-T-P
PROCESS
3 Vs of
CDV// Success
CLTV
Valued Valued
proposals Networks
SCM
6. And also by understanding and implementing
PROFIT TRIANGLE
VALUE COST
CREATING
REDUCTION
ABILITY
PROFIT
COMPETITIVE
ADVANTAGE( 5
FORCES MODEL
7. Strategies, Action plans & Action
taken by Whiz-Bang
• Concept development and testing
• Business Analysis
• Beta testing and market testing
• Technical implementation
• Commercialisation
8. Core process adapted by Whiz-Bang
PEOPLE PROCESS
CORE
PROCESS
EXECUTION
STRATEGY
/OPERATION
PROCESS
PROCESS
9. Step by Step Actions
Company Competitor
customers collaborators Context
s
Market Target Product &
Segmentation market selection Service
Creating positioning
value
Marketing mix (the 4Ps)
Product &
Place/channels Promotion
service
Capturing PRICING
value
Sustaining Customer Customer
value acquisition retention
Profits