Marketing can easily figure out the satisfaction criteria of the customers, market offerings and value of which customers are keen on. According to Kotler, P. and Armstrong, G. (2000), marketing investigates to attract more customers by adding the best of the value they need, offers advantages of having the product or service and enhances relationship providing value added services regularly. Targeting and capturing customers is one of the most difficult jobs for the companies, marketing strategy ease the way capturing the customers effectively. According to Lancaster, G. and Withey, F. (2007), to being successful, the companies have to be strongly market focused. Marketing builds relation with customers providing superior customer value and attracts them providing value added services as well as increases the number of potential customers in a regular basis.
Ø Coordinate its functions to achieve marketing aims Ø Be aware of constraints on marketing activities I will also be considering the importance of developing and maintaining a relationship with its customers, potential customers and other stakeholders. I will look upon on establishing customer needs, methods of analysing marketing opportunities, and the m... ... middle of paper ... ...ons can exert a major influence upon the stores’ accessibility and attractiveness to consumers. Planning the selection process as carefully as possible and using methods described should maximise the success. Marks and Spencer pays particular attention to social and geodemographics, along with consumer spend, before deciding on a location. Own brands are desirable products to offer, as they offer profitable margins and a high level of control over the marketing aspects of management.
Market Research Marketing research is very important to a company when creating a marketing business plan for a new product or service. Marketing research can be view and defined as the process of gathering and recording information on consumers, competitors, and the market. Once all the infromation is gathered and recorded it must be analyzed inorder to get an accurate and successful marketing plan developed. The information is important because it determines what segment of the population will purchase th... ... middle of paper ... ...d tactics. Marketing research needs to be conducted at different intervals during the introduction of Kudler’s new services to its customers.
A segment profile comes down to describing customer characteristics of a typical customer. It is important to build profitable relationships with the right customer is good for the marketer’s stakeholders. After this, the brand can start to build up their company target market, as well as selecting merchandise that would be best for the store. What positioning strategy do you think would be advantageous? Support your answer.
Effective marketing involves strategic concepts. Some of which include how companies use marketing to Place, Promote, and Price their Products. More importantly, an understanding of the marketing concept, the marketing strategy, and the marketing plan is required for a company’s marketing efforts to be successful. The purpose of marketing is to identify customers’ needs, and meet those needs so well that the product almost sells itself (Perreault et al., 2014). When the marketing process performs well, the customer will be satisfied and buy again.
Ansoff matrix This model is essential for strategic marketing planning where it can be applied to look at opportunities to grow revenue for a business through developing new products and services or "tapping into" new markets. It is used to evaluate opportunities for companies to increase their sales through showing alternative combinations for new markets against products and services. Where the matrix suggests four alternative marketing strategies (Hanlon,
In conclusion, Kudler fine foods has a market that specializes in providing the best service possible to their customers . Market research is a main factor that will identify market need, size and competition. The gathering of information from other business owners in other states and increasing services for frequent shoppers that is needed implements more profits. Competitive intelligence gives and outlook on what other business owners are doing. Therefore your able to strategies against what other organizations are doing within their business.
Its uses include helping create long term business plans, launching new products or services, fine tune existing products and services, and expanding into new markets. Market research can be used to determine which portion of the population will purchase a product/service, based on variables like age, gender, location and income level (wikipedia.com, 2008). Based on these definitions, understanding a market research plan is essential to Kudler Fine Foods to promote any types of special promotions they may run, and to reach out to their public the authenticity and quality value of their merchandise and produce. Some of the marketing campaigns Kudler Fine Foods have already run will be described below. One of the most popular marketing operations was directed towards expanding services and increasing revenue.
Marketing of Kudler Fine Foods Introduction Kudler Fine Foods has experienced a significant growth and is now focused on expanding the services, improving the efficiency of its operations and increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers. The American Marketing association states that "marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and collecting for managing customer relationships in ways that benefit the organization and its stakeholders" (Kerin-Hartley-Berkowitz-Rudelius,2005). Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area. The relative value of market research Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions (Kerin-Hartley-Berkowitz-Rudelius, 2005). Many service organizations have embraced relationship marketing with its focus on maximizing customer lifetime value.