Dudebox Firm’s Aggressive Marketing Strategy

Topic: Marketing Words: 1452 Pages: 5

EFE and IFE matrix

EFE matrix

No	Opportunities	Weight	Rating	Weighted score
1	Increasing demand in Europe, Asia and Africa	0.15	4	0.60
2	Growing popularity of subscription boxes	0.10	3	0.30
3	Ease of securing a partner	0.10	2	0.20
4	Huge disposable income among men	0.05	1	0.05
5	Good relationship between USA and most world nations especially in Europe and Africa	0.10	2	0.20

	Threats
1	Fierce competitors in the marketplace	0.15	3	0.45
2	Fiscal policies	0.10	2	0.20
3	Economic decline	0.15	5	0.75
4	Increasing prices of products	0.05	1	0.05
5	Dollar’s value in global market	0.05	2	0.10

	Totals	1.00		2.90

IFE matrix

No	Strengths	Weight	Rating	Weighted score
1	Strong team in charge of management	0.10	1	0.10
2	Advanced technology for ease of offering services	0.15	3	0.45
3	Business culture	0.10	3	0.30
4	Potential increase in international revenue	0.05	2	0.10
5	No negative environmental impact	0.10	2	0.20

	Weaknesses
1	Continuous need for a new value	0.10	3	0.30
2	The business strategy is easily copied	0.20	4	0.80
3	High cancellation rates by clients	0.15	2	0.30
4	Inexperience in the business	0.03	1	0.03
5	Few employees	0.02	1	0.02

	Totals	1.00		2.60

Aggressive Strategy

Dudebox will have to be aggressive in its dealings to get its name out there. As such, it will employ aggressive marketing, in which it will communicate directly to potential male clients and actively pursue their engagement with the business. The aggressive marketing will be achieved through various different strategies. These approaches are significant in acquiring popularity for Dudebox and aiding in its growth. Therefore, the table below illustrates the company’s aggressive business strategy.

Marketing element	Aggressive strategy	Mode of aggressive strategy
Price	Clearly indicate all the prices of offered services to consumers, including discounts and special offers	Website, flyers, magazine and journal articles, and television.
Service	Describe the services offered succinctly and further explain who its offered to and what it does to consumers	Social events, Facebook, twitter, WhatsApp, emails, articles, advertising, newspapers, YouTube, and movies
Process	Include a detailed process of subscribing to the service, making payments, cancellation and getting refunds	Television ads, company website and social media
Location	Clearly specify the business’s location or physical offices where customers can access services should they need to	Company website and all its social media accounts as well as ads
Promotion	Conduct regular promotions on services to acquire new and retain old customers	Celebrity advertising, social events and social media

Competitive Strategy

Dudebox will be competitive in its operations to ensure that it does not just survive as a newcomer in the market but thrives as well. Its competitive strategy will be employed in both the local, national and international markets in which it will operate. The business will analyze the strategies of its competitors and develop a better approach to dominate the market. The table below, thus, summarizes the business’s competitive approach.

Area of competition	Strategic objective	Market share intent	Competitive strategy
Local	Become the dominant company	Expand aggressively through internal growth and acquisitions	Offer services at lower rates than the competitors
National	Become among the top ten service providers in the industry	Expand by growing internally	Offering more unique and quality services than the competition
International	Be among the top fifty subscription box service providers in the market	Maintain the current share and position	Possess superior technology, good reputation and image, and offer more value than competitors

Conservative Strategy

Dudebox conservative strategy will be employed in various sectors of its operations including financing and risk evaluation. In risk evaluation, Dudebox will assess risks and the amount to which they must be mitigated. Entrepreneurship requires embracing the needed or inevitable risks and taking efforts to mitigate those that can be managed (Barrow et al., 2018). Since reducing risks to zero is incredibly costly and practically unachievable, I will have to identify where I stand on the spectrum of risk taking. The table below represents some of the business’s conservative strategies for some of its activities.

Company’s activity	Conservative strategy
Financing	Long term sources of finance will fund fixed assets, permanent working capital and some part of temporary working capital
Risk taking	Minimal risk taking by the business
Recruitment	Slow to hire and quick to fire recruitment process

Defensive Strategy

Dudebox will use various tools to fend off attacks from potential competitors. These tools are designed to block competition that attempts to take over part of the market share of the business. Reducing the price of its items, offering incentives or discounts to persuade clients to purchase its products or enhancing its publicity and marketing campaigns are among the ways in which Dudebox will undertake the process. These techniques will ensure Dudebox’s survival and help in increasing the value of the company.

Dudebox’s defensive business strategy
Defensive strategy 1	Defensive strategy 2
Protecting the business’s position in the market with the aim of maintaining profits	Optimizing the business’s market position with the objective of maximizing profits
Activities will include: Protecting the business’s market share Retention of customers through incentives and discounts	Activities will include: Maximizing net marketing to increase sales to consumers Reducing market focus

Country Selection (Global Market Opportunity Analysis)

To discover potential for growth in Europe, Asia and Africa, Dudebox will synthesize market survey and client data, and then design an effective strategy to realize that growth. A refined market assessment will employ a measured approach that is targeted to the customer and the market in which they operate, while leveraging tried and tested procedures for research and analysis. Such methodologies of analysis will be supported by an exhaustive and contemporary approach to economic theory. The global market opportunity analysis involves different steps as illustrated in the table below.

Global Market Opportunity Analysis
Country	Consumer	Competition	Company
Analyze attractiveness Prepare an initial target list	Identify unmet consumer needs	Outline the competitive environment	Evaluate Dudebox’s ability to implement and formalize its international strategy

International Strategy (choice)

As it expands across borders, Dudebox will employ a multi domestic strategy as a marketing tactic in which each branch develops its own strategy of marketing that reflects the distinguished requirements of that country and its preferences. Instead of trying to force all its international clients on the kind of subscription services that are synonymous with Americans, Dudebox will customize its services to match the preferences of its local clients. It will evaluate the factors in the countries it intends to set up branches and use the information to make decisions as shown in the table below.

Multi domestic international strategy
Strategic factors	Factor’s frequency
Modification of products	High
Profitability	High
Potential loss of identity	High
Level of dependence on HQ	Low
Local production	High
Ability to address local needs	High
Local research and development	High

Political risk analysis

I recognize that government actions, events or conditions have the ability to dramatically alter the profitability or predicted value of Dudebox. As such, I will appoint a team of political risk analysts to investigate and evaluate such risks in both internal and external dimensions. They will analyze political risks and factors, evaluate their importance and linkages, and advice on management and reduction of political risks. The table below, thus, indicates what an analysis of political risks will entail.

	Internal dimensions	External dimensions
Government	The extent of repression by government elites Extent of the illegitimacy of the elite in the government Probability of a regime change affecting policies	Possibility of political violence Level of associations with international bodies Likelihood of impositions of restrictions on trade and investment
Society	Level of social fragmentation Probability of social conflict Existence or lack of nationalism, xenophobic tendencies and fundamentalism	The global public opinion The diverse nature of the region Pressure of disinvestment
Economy	The growth of per capita gross domestic product (GDP) Distribution of income The probability of meeting economic objectives	Future economic policies with regards to direct investment from foreigners Probability of issues with balance of payments Possibility of unstable currency

Role of culture

Culture discusses how a business environment works, and it encompasses values, attitudes, behaviors, artifacts and systems of reward that affect the conduct of individuals on a daily basis. It is guided by top management and is extensively integrated within the organization through a multitude of processes, systems of reward, and actions. Culture encompasses every conduct that can either increase business performance or not. Culture will certainly play a key role in Dudebox’s growth and success. The culture will be the business’s driving force, the basis of how individuals develop and convey ideas, act, respond to consumers, and get involved. The diagram below highlights some of the vital components of the business’s culture.

Role of culture

Reference

Barrow, C., Barrow, P., & Brown, R. (2018). The business plan workbook: A step-by-step guide to creating and developing a successful business (9th ed.). Kogan Page.