Airbnb specializes in providing services to connect homeowners with potential customers who want to stay in a home for some time without the complexities of leasing properties. The firm has invested in breaking new grounds and diversifying its coverage to attain a large market share. This commands strategies to market the Airbnb brand to the new markets and promote the products. In considerations of the key players in marketing, the strategies the administration coopted revolve around customer, company, and competition (A V & Prabu, 2021). Incorporating objectives of creating awareness of the brand into the market and product promotion, the company seeks to increase its sales and revenue.
Strategies to conduct an effective promotion of Airbnb brand and products entailed laying out of the candid objectives the company is purposing to achieve. The marketing reasons established include being to amass a high volume of competent and experienced leadership, widening the market share, increasing brand engagement. This was because the target is to capture a new market, lure customers into preferring our products to other competitors' products. The company established sober leadership to steer the process successfully.
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Market selection on where the company will invest was critically determined by inculcating the key strategies of segmentation, targeting, and positioning (A V & Prabu, 2021). The marketing method co-opted was using salespersons to meet the customers at a personal level. With this approach, the customers’ feedback is guaranteed, and well as the salesperson be able to lure the customer into opting for our products.
The competitive advantage for Airbnb is offering unique products and of high quality (Finance, 2021). Unique and high-quality products allow the customers to develop a value for their money compared to our competitors who focus on lowering the price of their products, forcing them to reduce the quality offering substandard services into the market. Airbnb brand will also allow discounts to customers in new markets during the launch period to command preference.
References
A V, S., & Prabu, M. (2021). The effects of Product Development, Product Promotion & Product Innovation initiatives on the product life-cycles. International Journal For Innovation Education And Research , 9 (3), 157-167. doi: 10.31686/ijier.vol9.iss3.2983 Finance, c. (2021).
Competitive Advantage - Learn How a Competitive Advantage Works. Retrieved 20 April 2021, from https://corporatefinanceinstitute.com/resources/knowledge/strategy/competitive-advantage/
