Martin Reeves argues that the fundamental role of a marketing team is to establish the right marketing strategy for their organization. Today, effective marketing strategy determines the place of an organization in terms of its competitive advantage. However, finding the right strategy often proves hard for many organizations, as it the process involves constant research and reinvention of products and services (Reeves, 2014). Nonetheless, some companies started small and they finally attained their niche in the market. Particularly, Barcycle is one of the transportation companies that continue to expand in the big markets globally. Barcycle began from Denmark and later invested in markets in the United States and Europe.
Pepsico Inc. and Barcycle share a similar marketing strategy, which entails marketing their products at an international level. Specifically, Pepsico ensures that it develops food products that comprise of international flavors. Additionally, Pepsico adapts to the latest consumer trends. For instance, the Pepsico marketing team ensures that it researches on the preferred consumer tastes for beverages in order to reinvent their products. Additionally, the company invests in safer foods, which is in sync with the current market demand (Lin, Tsai, & Wu, 2014). . Presently, people demand for safer foods due to the increase in obesity and lifestyle diseases. Thus, Pepsico is tapping on this opportunity to remain relevant in the market.
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A company begins identifying its marketing strategy by assessing its needs and market performance. First, the marketing team ought to consider the future trends in terms of company performance and competition (Reeves, 2014). By forecasting on the probable dynamics of the future, a company develops an appropriate marketing strategy that would create uniqueness in the market. Like Pepsico, Barcycle aimed at dominating the international market by identifying the key areas that would require a unique transportation process. The concept of Barcycle began in after the pioneers realized that there should be a new way in which people enjoy their alcoholic drinks. Thus, they partnered with alcohol manufacturers to provide people with new exciting ways of enjoying a good time with friends.
Evidently, Barcycle identified the need that people not only need enjoy their drinks at the bar, but also one could while moving from one location to another. Besides, the company allows people of above 18 years to board a barcycle. The innovation got the interest of college students and the working class. The unique idea continues to expand to new markets, as people appreciate the transport and a beer at the same time (Lin et al., 2014) . Thus, an effective marketing strategy is not only about looking at the product in relation to a client, but also the comfort of the place that a client wishes to use the product.
By striking contrast, Barcycle established a new way in which an already existing product could be changed. Normally, people prefer meeting with friends and family in a bar in a quest to enjoy a drink. However, Barcycle changed its marketing mix and segmentation to create uniqueness of the project (Reeves, 2014). The idea perfectly fitted the concept of moving out from a bar, and enjoying a drink while on the move. Thereby, this meant that one could enjoy company on their way to work and home.
In conclusion, choosing an appropriate marketing strategy is crucial for company to attain a market advantage. To achieve this, the marketing team ought to conduct a succinct market research that would promote development of a reliable marketing strategy. For example, Barcycle and Pepsico share a similar marketing strategy as the companies aimed at the global markets for the growth and development of their business. Alike, both companies understand and address the current needs and preference of their customers.
References
Lin, C., Tsai, H. L., & Wu, J. C. (2014). Collaboration strategy decision-making using the Miles and Snow typology. Journal of Business Research , 67 (9), 1979-1990.
Martin Reeves. (2014). your strategy needs a strategy. Retrieved from. https://www.ted.com/talks/martin_reeves_your_strategy_needs_a_strategy
