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.
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