Promotional strategy to enhance the brand awareness of Alibaba Door & Furniture
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Alibaba Door & Furniture functions as an SBU of Coronet Impex. Established in 2002, it targeted to become the only brand back then in the industry. It has 10 retail outlets in Dhaka city & 41 dealers across the country. It targeted the premium consumer base who can afford the products at a premium price for a premium value. However, the Door market dynamics have changed a lot after that. The market size is bigger with multiple Brands targeting the overall market with several strategies. The price point, raw material & product features (most importantly appearance) are the main factors in this. To cope up with & eventually lead the market, Alibaba Door has made a wide range of product differentiation through innovation, continuous up gradation & maintaining brand equity. It has developed 6 types of interior door where the usual industry practices were only limited within wooden & PVC based door. With the increase of market demand & size, other wealthy organization have entered the market place with competitive offerings increasing the level & dynamics of competition. Although the brand has considered different income groups & differentiated its product, Its still perceived to be the Premium brand charging premium price which is no longer the case. The main reason for this proposal I am figuring out an effective way to communicate its consumers based on current industry practices & the firm’s competitive advantage. It was realized that the firm lacks in its B2B strategy by limiting it only to its dealer where the other brands are continuously engaging into more B2B relationships. So several open ended discussions were held with the organizational employees, dealers & other B2B vendors of other brandsfocused on the current industry marketing practices, the brands existing marketing practices, how to upgrade, the brands competitive advantage, the focused target group & B2B relationships. So the proposed reformed strategy includes the existing industry practices & a combined way to incorporate them.