Marketing Case research – Kim Do Yi Ltd. (KDY) Essay Trial
Betty Do Yi Ltd. (KDY) established in 1995 by president and master instructor Rickie Chan Ka Ching is actually a martial arts firm based in Hong Kong. Typically the organization specializes in the Korean martial arts of Taekwondo and Hapkido. It is affiliated towards the Planet Taekwondo federation (the regulating body for Olympic-style Taekwondo). KDY’ s core target market is children of primary and secondary institution age. KDY does not necessarily have its own kwans(training studios), preferring instead to employ venues in numerous areas throughout Hong Kong. KDY believes this approach can make access easier and less costly for its customers.
(A) Outline exactly why promotion is important to a organization such as KDY. (2 marks)
Since KDY operates inside a highly competitive industry, it is important with regard to them to promote their product and define their particular USP to their consumer so they develop brand loyalty. Since they wish to target a young audience, they must take on other firms seeking to take up teenage time thus their competition extends further than simply other martial artistry firms, they must compete together with other firms from health clubs to any other choice available to the teen audience in Hong Kong.
(B) Suggest on a suitable promotional mix for KDY. (8 marks)
A suitable promotional mix for KDY would be personal promoting. Personal selling is a new type of below the line promotion and refers to the promotional techniques that rely on product sales representatives directly helping and persuading potential and present customers to make the purchase. Benefits of personal selling include:
Since KDY deals with teaching students for their, that would be important to be able to get a trusting connection with their customer. This especially effective when that comes to convincing buyers because they get in order to build relationships the salesman within dialogue which gets feedback back to the organization without the costs regarding questionnaires. Since KDY is an educational firm, it will certainly need to reply to a whole lot of questions that the customer might have, and the best why in order to do that is using dialogue. Also the salesman can promote their product through providing a kind of “ enthusiasm” in purchasing their particular product which will set up that brand loyalty actually seeking.
Several problems with personal marketing:
Personal promoting has some problems. For 1, the firm cannot understanding the attention of a massive audience so it may possibly lose the number associated with consumers they will get by means of doing some above the line promotion. Moreover, revenue representatives can be difficult to hire as they will come at expensive costs. This is because they are specific in the product that they are working in. An example that pertains to KDY is usually if they hire a martial arts master they must pay extra because he or she is an educated master in the fighting methods. Another expenditure is training staff within order to gain the good understanding of the martial arts. This is furthermore time-consuming so most of it lowers the price at which profit is made.
In conclusion, KDY is an organization that offers a services so basically it is usually important that they stay with personal selling so they can set up a good link with their consumers since that brings in very good profit.