Dr.
11/04/99
TR 2:30-3:45
Marketing Strategies
Penetration
Thomas Nelson uses different marketing strategies to penetrate the market to
increase sales. The NKJV Bible is aggressively marketed when the product falls short of
sales goals or the company is trying to break into a new market. They use strategies such
as paying Christian music groups to encourage and sell the Bible while they are on tour
singing. The most important strategy is the NKJV relaunch. This technique is a
promotional that pushes extra advertising through different avenues such as bookstore
displays, magazines (Christian retail and consumer magazines), increasing advertising on
TV/Radio, and direct mailing.
Market Development
The NKJV Bible has covered all the markets that were intended by Thomas
Nelson. Unless something new occurs in the industry they cannot sell there. The product
is at a mature stage of development. They have different market divisions that sell the
Bible all over the world. The International Division sells translated versions into other
languages. The Trade Division sells the NKJV to bookstores everywhere with an
established relationship. The Mass Marketing Division sells the NKJV to businesses,
non-profit and profit, and all ministries. The Direct Division sells the NKJV through
telemarketing and direct mailing.
Product Development
The Business plan on Foreign Market Entry Strategies 2
“Firms which participate in the business system as partners complement the company and its suppliers, thereby increasing the value to customers”. Explain your understanding of this view and provide examples to reinforce your arguments. For a company, entering new foreign markets may be achieved in a variety of ways. Each of these ways places its unique demands on the company in terms of ...
Thomas Nelson is always trying to find out new and improved ways to satisfy the
customer through product development. The Marketing Division team is constantly
studying the market and researching what products they like and how to fulfill consumer
needs. During this process the Publishing Division meets with the Sales Division to find
out what the consumer needs. After this is done they take a new idea to the board. One
of the most recent developments is a new Bible for children that have a night-light so
they can read it at night. Another new product is the girls Bible that has a strap like a
purse. Thomas Nelson is constantly trying to find new ways to satisfy consumer needs
through R&D.
Diversification
Thomas Nelson has a wide variety of products that help diversify what they sell.
They sell many different styles of the NKJV Bible such as the adult version, a child’s
version, and a Bible for toddlers. They also sell Bibles for certain denominations like the
Catholic Bible and the Greek Orthodox Bible. Each Bible can be found in different age
groups for better understanding and are all printed in different translations such as the
NKJV, NIV, REB, and the NRSV. Thomas Nelson sells many other books for adults and
children, which are mostly Christian-related. The company also sells items like T-shirts,
videos, CD-ROMs, and other things you might find in a gift shop.
Target Markets
Every NKJV Bible that Thomas Nelson sells is targeted different demographically
but sold together to fulfill the needs of all people with no limits. The Bible is targeted to
all ages, incomes, genders, cultures, and races because its key function is to spread the
gospel throughout the world. There is a good portion that targets ministries and
Christians because of their faith and their use of the Bible constantly, but there is also a
good portion that targets people who are unbelievers outside of the church world. The
NKJV Bible is sold and offered all over the world. Thomas Nelson being the largest
Christian communications company in the world. They are a global market
geographically and market their Bibles in all major cities and countries in the world.
The Term Paper on Segmentation and Target Market 2
The three major players in the soft drink market are PepsiCo, Inc., the Coca-Cola Company, and the Dr. Pepper Snapple Group (Change Lab Solutions, n.d.). All of them use effective market segmentation to target specific markets. Effective target marketing requires that marketers, segment the market, by identifying and profiling to find a distinct group of buyers who differ in their wants and needs ...
You can find these Bibles in bookstores and Christian outlets in all major cities and
countries in the world. Everyone is part of the target market and it doesn’t matter what
kind of activities you are involved in and what interests and opinions you have. Thomas
Nelson focuses on the Christian and Non- Christian secular divisions. The
psychographics of an individual does not exclude them from the target market, but they
do have a division that focuses on fulfilling the needs of the church. People who are
believers or false believers are a big part of the target market who are interested and are
involved in activities that integrate with Bible values, such as church-going and living a
daily Christian life. The behavioristic approach tends to integrate with the
psychographics of the target market. Once again, peoples’ attitudes, beliefs, perceptions,
and personalities don’t exclude them from being part of the target market. People who
believe are just as important as those who don’t believe. Many of the Bibles are sold to
those who believe in God, people who are new in the faith, and people who want to
possibly become Christians. These Bibles are not limited to any certain area or different
kinds of people, the purpose of the Gospel is reach all, because the Lord’s will is that
none perish.
