Capturing Share of Market (SOM) requires defining and executing a set of “Strategic and tactical moves” to gain consumers’ preference, ideally on a continuous basis.

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The ”battle field” is the target consumer; specifically his/her …

  • Mind (Recall)
  • Pocket / Wallet (disposable income to buy)
  • “Stomach” (Consumption occasion)
  • Heart (Affection)

The Strategic / Tactical moves occur around the elements of the Marketing Mix

  • A Product (Consumer benefit) that delivers:
    • A superior quality vs. competition
    • An attractive packaging
    • Differentiated Product news that trigger and/or sustain consumers’ interest in the Brand
  • A Price (Cost or Perceived Value) that is:
    • Affordable to the target consumer
    • Enhanced with temporary promotional concepts
    • Competitive
    • Profitable for the company, on a continuous basis
  • Place (Convenience or Distribution), meaning …
    • Presence in most of the Stores or strategically located points of transaction for consumers convenience
    • High visibility within the store
  • Promotion (Communication) support that …
    • Positions the brand in a unique / captivating way
    • Achieves high TOMA (Top of Mind awareness) or high TUA (Total Unaided Awareness – 2nd or 3rd brand recall)
    • Builds a charismatic and up to date Image
    • Consistent message over time and across all points / moments of contact (TV, Radio, Printed, Internet, etc.)

Thus, the challenge for the Brand Manager is to capture more share of …

  • Brand or mind recall
  • Space or Distribution / Visibility
  • Pocket or Spending Money
  • “Stomach” or Consumption Ocassion
  • Heart or Affection

… to secure a larger (ideally dominant) Share of Market.

Examples of companies / brands that have attained a dominant SOM in their respective industries, by moving strategically and tactically the elements of the Marketing Mix are: Coca Cola (Carbonated cola soft drinks), Sabritas / Frito Lay (Salty Snacks), Bimbo (packed bread), Banamex / Citi (Banking Services), Colgate (tooth paste), Kleenex (disposable tissues), etc.

Why is it important to capture / increase SOM? A larger SOM enables …

  • economies of scale: lower costs > higher profit margins
  • relative flexibility to fix / adjust the selling price
  • a brand with high respect and eventually, a lovemark, which in turn will translate into high economic value

Are you facing the challenge of Gaining Market Share? We can help. Contact us at: Contact@sharegains.com

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