Cube suggests four alternative marketing strategies which hinge on whether products are new or existing. They also focus on whether a market is new or existing. Within each strategy there is a differing level of risk. The four strategies are::
- Cube Marketing implements focus mainly on:Market penetration – This involves increasing market share within existing market segments. This can be achieved by selling more products/services to established customers or by finding new customers within existing markets.
- Product development – This involves developing new products for existing markets. Product development involves thinking about how new products can meet customer needs more closely and outperform the products of competitors.
- Market development – This strategy entails finding new markets for existing products. Market research and further segmentation of markets helps to identify new groups of customers.
- Diversification – This involves moving new products into new markets at the same time. It is the most risky strategy. The more an organisation moves away from what it has done in the past the more uncertainties are created. However, if existing activities are threatened, diversification helps to spread risk.
How We Work?
Cube Marketing divides the vertical marketing scheme into three main levels:
- the market-definition level
- the product-definition level
- the level containing the rest of the marketing mix
Market Analyst decide level at which to begin implement lateral-marketing techniques. If we choose the market-definition level, then our objective is to modify the market, and the market includes product utility, the consumer, and purchase situations. If we choose the product-definition level, we focus on product innovations. If we choose the level containing the rest of the marketing mix, we focus on how the product will be sold.
The process of Cube Marketing consists of generation of lateral displacement in the elements of a selected level to create a Difference, which, when bridged by creative output, provides innovative solutions.
Cube, therefore realised there was a gap in the market as there was no one single supplier that could offer a complete working environment. Here are provisions to meet this:
- Total solutions that included product management that helped customers with planning permission, ground works and service connections for a new modular building.
- Aircare to provide environmentally friendly internal climate control with low running costs.
- Access for those organisations requiring ramps and steps.
- Datakom such as cabling and networks that can be plugged into.
- Protecta such as fire and security systems.
- Interiors with furniture and space planning services.
- Optional extras to provide the finishing touches including floors and blinds.