Dairy Farm Case Study Marketing

1504 Words4 Pages
bulb-icon

Recommended: Component of holistic marketing

Jovi Kau Sin Yee,
Nur Jasshima Binte Jasni, Q1410244

MKT202e
Marketing Management

Assignment 2 – Group-Based Assignment
January 2014 Presentation
Question 1

Of the four components of holistic marketing, relationship marketing aims to build lasting relationships with its key constituents that affect the success of the company’s marketing strategies. The four key constituents for relationship marketing are customers, employees, marketing partners and members of the financial community.

The Dairy Farm Group has implemented relationship marketing with its four constituents as follow:

Customers
Dairy Farm Group has implemented relationship marketing with its customers by conducting a study of consumer behaviour, understanding the needs of its consumers and providing them with the products and services that meet their expectations.

Dairy Farm has done so by understanding the behaviour of Asian consumers, in a way that Asian consumers tend to shop more frequently, hence, they do not always search for substantially the largest stores with a wide range of products. Instead, Asian consumers prefer to shop at stores that are nearer to their homes. Therefore, it has stores that are not only centrally located within a country but all around the country. Dairy Farm also understands that the Asian market is looking at fresh goods and their quality and so, it aims to provide these at their respective stores.

Dairy Farm operates stores with distinct names to specifically meet the different needs of the market in Asia. They have brand names such as Jason Market Place that cater to the affluent sector and Shop N Save which are located within HDB estates and they focus on fresh goods at low prices.

Dairy Farm woul...

... middle of paper ...

...hould price theirs lower than NTUC FairPrice. If it’s the other way round, Cold Storage should then price it higher.

Step 5: Selecting a Pricing Method
Cold Storage should adopt the value pricing method for First Choice’s Kitchen Towel. As stated previously, First Choice was launched to suit the needs of the customers and provide them with good quality products at affordable prices. Hence, the value pricing method would be the most appropriate for them. Cold Storage can do so by simplifying the work processes so that it can price its products lower without jeopardising the products’ quality in order to gain more customers who are price sensitive.

References:

Kotler Keller (2012). Marketing Management (Fourteenth Edition).

Jay Acunzo (2014). What Is Multi-Channel Marketing?
Retrieved from http://blog.hubspot.com/marketing/what-is-multi-channel-marketing-faqs-ht

Show More
Related

  • The Hatchers's Case Study Of The Hatcher Family Dairy

    1417 Words  | 3 Pages

    Hatcher Family Dairy was established in 1831 and the Hatcher’s have been milking cows ever since. Throughout most of Hatcher Family Dairy’s history, milk produced on the farm was sold to a milk cooperative owned by farmers. The milk cooperative would transport the Hatcher’s raw milk from the farm to a processing plant where it was processed along with milk from other farms. Ultimately, all the milk processed by the milk cooperative comingled and was sold under various brand names to groceries stores.

    Read More

  • The Country's Best Yogurt (Tcby) Case Study

    1779 Words  | 4 Pages

    Pelton, L. E., Strutton, D. & Lumpkin, J. R. 2002, Marketing channels: a relationship management approach. McGraw-Hill Irwin: Boston, p. 387.

    Read More

  • Difference Between Walmart And A Farmers Market

    1858 Words  | 4 Pages

    This is due to the symbiotic relationship Walmart has to its consumers, they are able to offer lower prices in more locations and consumers desire affordability and proximity. Despite the obvious domination of the economy by Walmart, less conventional producers and consumers are present and on the rise. Local rather than global and small rather than large, the increase of these less conventional manners of production can be seen in the increase abundance of farmers’ markets, Community Supported Agriculture (CSA), and community gardens. Farmers’ markets are common areas where farmers meet on a regular basis and sell various fresh produce directly to the consumers. The number of farmer’s markets between 1994 and 2014 has increased from around 2,000 to 8,000 (ers.usda,gov). Farmer’s offer an aesthetic that Walmart cannot provide—the opportunity to be personable. The consumer is able to see who grew the food, ask how it was grown, and will not be dazzled by fancy packaging or

    Read More

  • Nike Five Forces

    1534 Words  | 4 Pages

    Place: They opened discount factory outlet stores in rural areas and retail stores in urban shopping center. By selling different kind of product in different places help them to meet the different need of the customers. On the other hand, they also sell their product online, where customer can purchase their product at anywhere and anytime. All this make them be able to maximize their gain.

    Read More

  • Marketing: 'The Concept Of The Marketing Mix'

    1556 Words  | 4 Pages

    There is a belief that firms have a different marketing approach depending on if the firm is trading services or goods. Service firms are assumed to have a more relational approach where they manage the whole buyer-consumer communication process while the goods firms are transactional. The main purpose of this study is to find out how firms relate to their markets and what the relative emphasis of these firms on transactional and relational aspects of marketing are.The study distinguishes the firm type by the most dominant type of product offered and the most dominant of customer

    Read More

  • Marketing Differences B2B Vs B2C

    1062 Words  | 3 Pages

    Business-to-business companies are relationship driven. They are offering another company a product or service that the company should use to their benefit, and in order to sell this product or service, they have to build a strong, working relationship between the two businesses. B2B companies have to maximize the values of the marketing strategy: relationships and trust. In order to be successful, these two businesses must be able to trust each other, work together, and form a working relationship that will benefit both businesses in the end.

    Read More

  • Farm to Table

    606 Words  | 2 Pages

    Trends of moving toward supporting local food producers have increased over the years. People are looking for quality over quantity. “With the explosion of interest in local food, consumers now have more choices of products, labels, and ways to shop, so, many people are left wondering where to start” (Table, 2009). Buying locally supports sustainable food system, beyond just methods of food production and helps to increase food from farm to plate. Supporting locally drastically helps with the reduction of emissions and the negative effect that food traveling has on our environment.

    Read More

  • Relationship Marketing Essay

    1317 Words  | 3 Pages

    Both from the customer and the company point of view, each customer interaction is part of an iterative learning process (Ballantyne, 2004). Further, Yau et al. (2000) advocated that the relationships between business firms and its customers have been constantly encouraged as successful business practices worldwide. The strategy of relationship marketing is of high relevance particularly in the service industries because of the intangible nature of service and their high level of customer interaction (Al-Hersh, Aburoub, & Saaty, 2014). Relationship marketing is defined as the process of engaging in proactively creating, developing and maintaining committed, interactive and profitable exchanges with targeted customers (Haker, 1999). Furthermore, Gronroos (1990) asserted that relationship marketing is to establish, maintain, enhance and commercialise customer relationship so that the objectives of the parties involved are met which can be done by a mutual exchange and fulfillment of promises. Moreover, the implementation of the relationship marketing concept at the operational level refers to relationship marketing orientation (Hau & Ngo, 2012). Relationship marketing orientation indicates the firms’ philosophy of doing business concerning relationship building by propagating developing trust, empathy, bonding, and reciprocity between a firm and its customers (Sin et al., 2005a, b; Tse et al., 2004). Trust is an important element for a successful relationship between the firm and its customers (Berry, 1995). First, trust is an essential component for a successful relationship between the firm and its customers (Berry, 1995). Trust It refers to a willingness to rely on an exchange partner in whom one has confidence (Morgan & Hunt, 1994). Empathy, as a dimension of business relationship, enables the two parties to see the situation from

    Read More

  • The Importance Of Customer Satisfaction In The Supermarket

    850 Words  | 2 Pages

    A good location can have a significant impact in attracting potential customers, thus improving sales. Especially in the case of a supermarket, location is more important than other business sector. Customers never drive long distances to only buy daily necessities. Moreover, favorable location gives efficiency to company’s logistics because unnecessary moving cost can be cut down. So, we can say that it is important factor for the successful operation of the supermarket.

    Read More

  • Marketing Definition

    938 Words  | 2 Pages

    “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” (AMA, 2007)

    Read More

  • Case Study of C & C

    989 Words  | 2 Pages

    ...nal supermarket retailers will reinvent themselves over a period of time, in order to attract and maintain a loyal customer base. New concepts, neighborhood marketing, and innovation will be the key to success over the next decade.” (Imlay, 2006) What is propose is that a smart mix of products, perhaps catering to demographic tastes and needs, may tempt the shopper not drive out to the big box store, but instead loyal to their local market.

    Read More

  • The Evolution of the Supermarket

    600 Words  | 2 Pages

    The concept of grocery stores and supermarkets industry is an idea that has been created in order to make easier human`s life. According to the study “The Evolution of the Supermarket Industry From A&P to Wal-Mart” by Ellickson, who explains that a century ago people had to jump from one store to another store in order to get different products such as milk, meat, bread and other products. In addition, in the article “Understanding Groceries Industry” by The Reinvestment Fund, they state that back in a day the concept of grocery stores was created based on the owner`s store needs. Later on, as the development of the society and the standards of customer needs increased, the owners of the grocery stores started to be more focused on their customer needs. Also, the study of “Understanding Groceries Industry” shows that the supermarket and grocery stores industry is in their mature stage as they have developed an extensive and solid customer service.

    Read More

  • Customer Relationship Management CRM The Heart of Marketing

    1526 Words  | 4 Pages

    Customer relationship management has become the marketing buzzword of the past two decades, with business-to-business firms jumping in, many without really being certain of what they hope to achieve from it, and oftentimes being disappointed with the results. Gummesson (2004) describes CRM as "the values and strategies of relationship marketing with particular emphasis on customer relationships- turned into a practical application. " CRM has become a necessity to successfully and profitability manage customers and a firm’s relationship with them, with the market reaching a value of approximately $11.5 billion in 2002. Xu et al. 2002). The 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Second

    Read More

  • Customer Relationship Essay

    760 Words  | 2 Pages

    Customer Relationships is about building a relationship of trust and convenience. A customer wants the company they are working with to be intuitive. To know their needs before they do. They want to feel respected, they need to believe you are honest and have integrity. This relationship breeds comfort and familiarity and causes the consumer to continue to do business with your company. This relationship that is built develops a personal relationship, like a friendship and it is one that the consumer cannot get from the store down the road and it is that personal touch of sincerity, of knowing their needs, of servitude that will turn them into lifelong branded customers.

    Read More

  • The Buy Grid Model

    2011 Words  | 5 Pages

    Robert, F. Dwyer, and John F. Tanner. (2006): “Business Marketing: connecting strategy, relationship and learning” McGraw-Hill Education, 3rd edition. Page 71

    Read More

More about Dairy Farm Case Study Marketing

Open Document