BA 270 Final Exam
Now that you are experts in marketing, I want to hire you to consult me on a retail strategy that I can use to sell my new line of cookies that have no calories, but are great in taste. Using the Components of Retail Strategy Model, how would you advise me?
Absolutely, as an expert in marketing, I would advise the that would take a look at zero calorie cookies in general. Now, what do you ask is general of course? For instance, are there zero calorie cookies available on the market? If there are, how are they perceived? Do people enjoy them? These are the real first questions that should be investigated. Of course, I came prepared, and I have found that snacks/treats are currently priced anywhere between $1.50 to $60(*A). The lower the calories the higher the price was. There is a breaking point in these prices in terms of public perception which does not exceed $20 for a box of the treats. However, the competition is stiff in this price range with the dominant classic American food families. There is also evidence to support entering the market at the premier price as products consistently ask for upwards of $35 for trendy niche markets. An extreme example being the six pack of 100 Calorie Snack Chips Ahoy .74 OZ. for $38(*B), that is more than $6 per ounce.
Your prospective market has fierce competition, there is also a strong potential for a quick profit. With that in mind, at least at this stage, this sounds good so far wouldn’t you say? So you have a great recipe and you and I know it would make money. Do you want to run this sort of operation? We are also a new company and will have to do plenty of groundworks to stocked on the shelves. If that sounds like it would not fit your strengths could you aff...
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...bjections. Once the customer is reassured and agrees to the sale, initiate the sale process immediately and shift the attention to paying and completing the sale. Keep away at all costs from cell phones, TV, and god forbid at his phony wife calling him into the other room (red flag). That should be the bones of the operation and the basis of our model. The guys will learn how to adapt to objections and learn effective sale patterns and routines with practice. The successful salesmen get promoted and manage their team in ways they know to be effective and growth will become exponentially with us at the top of the pyramid.
I think we had a productive session here today. We have laid out some promising initial direction for how we proceed with the cookies. I will get to work on beginning research and development and get the ball rolling into our court.
2. This exam consists of 60 multiple-choice questions. Select the BEST answer and mark the appropriate
Target Corporation is the biggest discount retailing business in the US which comes just after Wal-Mart Stores Inc. The headquarters are located in Minneapolis in Minnesota in the USA. George Dayton founded it. It initially started as a family business with a regional retailer shop and later grew into a national full retailer store. The company’s main aim is to offer retail services at friendly rates and, its main attracting feature is discount rates offed on different products in the business. The company has indicated tremendous growth in the retail business. It has a target to outgrow its market and achieve competitive advantage over its competitors. This essay seeks to discuss the competitive analysis and
Having the business know what the purpose of the information is another way if you have specific details of what and why the information is needed then you can get an overview of the type of information required for example if a business asks you to gather information on computers then you know that you know not to gather information about something else only information that is related to computers would be gathered.
What closing principles do you follow? What closing techniques work best for you? 1) Identifying the customer needs, and gather as much information about him (tastes, preferences, expectations, etc.). This data appears unnecessary or irrelevant, but are very useful to create empathy and close the sale.
However, RLK’s competitors are downsizing and outsourcing R&D and exploiting on the cost advantages. If RLK decides to invest more money into R&D and should the new product stall on launch, they face the danger of becoming bankrupt.
In order to assess the traits of a potential target market and the various trends and influences of the biscuit industry an interview with a member of one of the potential target markets will be analysed to identify the problems found within the market, motivations behind biscuit buying and the general wants and needs of this target market. This report focuses on primary research in the form of an interview that aims at discovering the specific issues and decisions made by individuals at each step of the consumer decision making process. The interview focuses on current trends within ...
12. Raman, K., and Naik, P.A., (2005), Integrated Marketing Communications in Retailing, [online] Available at: http://ramanassoc.com/yahoo_site_admin/assets/docs/IMC_in_Retailing.26100503.pdf, Accessed on: 1st April 2014
This can be achieved through active listening, setting specific goals and focusing on resolving the customer’s needs. But most importantly, the salesperson needs to train a lot, through practical exercises such as role-plays and needs to keep a positive mindset to learn from the feedbacks of his performance.
Even worse is when they appear to be listening but events down the road show that they weren’t. No matter how busy you are it is vital to stop the chatter in your head, relax, and listen to the person sitting in front of you. Allow your client to relax as well, whether it’s in his decision of how much to ask for his home or his desire to look at homes without feeling pressured to make a commitment, give him space. So, now that you have a few tips on how to provide excellent customer service during the transaction, don’t forget that it should extend beyond the sale as well, if you hope to retain the client and everyone in her sphere of influence.
is good news as we are promoting the MG-TF, which is a sports car, so
Globalization - Globalization of specialty desserts is growing steadily due to Internet marketing (Global Monitoring, 2004). By marketing its business on the Internet, CC will reach and please a growing customer base. But first, CC must design an appropriate Web site, offering colorful, high-resolution photographs of the specialty cakes it produces so consumers can see how the cakes are designed (Global Monitoring). Leveraging emerging Web technology to its advantage, CC's Web site could offer an interactive feature, in which customers design a custom-made cake to suit a particular occasion by clicking a few buttons to visualize the design of the finished cake. Strategic objective: Add a range of cakes to CC's product line that can be distributed fresh or frozen, which will build an Internet customer niche based on CC's mission of quality and freshness.
Wasserman, Michael. 15 Techniques When Dealing With Customers. My Success Company. 25 January 2005. .
A sales manager has many responsibilities such as spreading product to customers, setting sales areas, goals, and analyzing sales data (“Sales Manager” What’s para. 1). Although a sales manager performs many duties, people in this position will also set a sales goal for the year, and will build a sales outlook on what they will do in the upcoming years (“Sales Manager” Sokanu para. 1).A person in this position will also manage where the goods and products their company will be distributing by giving certain sales area where a salesman will work and sell the product (“Sales Manager” Sokanu para. 2). During work time, a sales manager may be asked to hire and train a new salesman added to his team (“Sales Manager” Sokanu para. 3). Occasionally, a sales manager will interpret sales statistics in a specific area when looking where to assign certain salesman to a sales territory (“Sales Manager” Sokanu pa...
Alan’s Best Chocolates (ABC) is a leading company in the sales of confections and chocolates throughout the United States. The company’s products are sold from 50 stores across the country and maintain a high reputation for superior quality and taste. While the company’s sales have grown over the past ten years, the rate of growth has significantly slowed. One key factor for this slowing rate of growth is the shift in the marketplace to purchasing chocolates and confections online. For a company to succeed, it needs to plan on how to capitalize on this online marketplace by leveraging existing technologies, industry best practices, and aggressive marketing and sales campaign to ramp up the its growth projections for the foreseeable