services along with online forums with their customers to gain customers feedback and recommendations will give the company some competitive advantages against other firms in the market. As part of the company’s growth strategy, it will frequently acquire novel product lines and services or even venture into new markets as McSpensers Company has. These kinds of initiatives which often include developing and launching new products are always accompanied by various inherent risks in any type business venture. One of the risks is that the adopted product lines or market behaviors may demand operational methods, marketing as well as financial strategies that might be different from the ones the company has employed in its other business operations …show more content…
Some of the critical functions of the software will include recording different customer interactions over phone calls, emails, and social media as well as other channels, automating diverse workflow services including tasks, alerts and calendars. By using the software, managers will also be able to track performances and company’s productivity depending on the information logged within the system (Rouse & Ehrens, …show more content…
McSpensers will also invest heavily in promoting one-on-one communication mediums in an attempt to support consumers looking for guidance as well as advice. It will include direct mailing, emails send through the CRM database and other social medial mediums such as Facebook and Twitter. McSpensers will also encourage deeper engagements with consumers by training staff on how to provide professional advice online, in store and through telephone contact centers. Although technology adoption among older people is comparatively falling, by encouraging online activities along with functionality of electronic items, majority of aged technology enthuses will be encouraged to explore new products (Bacon, 2014). McSpensers Company will use a few channels of distribution to dispatch its items globally. The marketing plan will include the services of wholesalers to retailers, distributors, agents and direct selling of it products. The distributors will stock the products, and sell them to retailers in their locales and to end users as well. The advantages will be less inventory and
Executive Summary- Mountain Man Beer Company (MMBC) is experiencing declining sales for the first time in the company’s history. Chris Prangel, who will inherit the family-owned business in five years is faced with a hard decision that whether to take the risk of launching a new product to attract younger customers or to follow his father’s steps, continuing doing the 80-year-old Mountain Man Lager business. His father has concerns about the profit, the core business and the cannibalization and Chris has done several researches to estimate the potential business opportunity of the new product Mountain Man Light Through an analysis about the company, the product and the market, it is clearly beneficial for MMBC to launch Mountain Man Light. But Mountain Man Lager is the core business without which it is impossible to develop a new product and grasp a new market share, which is the spirit of the decades-old brand. Therefore, while I recommend that launching Mountain Man Light to create a new business, appealing to younger and female customers and making profit, Chris should take these strategies into account: keeping enough effort on existed product and holding the top market position, developing the brand and expanding the product line, if he plans to make profit from the new product in two years.
The purpose of this case study is to explore the implications for expanding the products offered by Mountain Man Brewing Company (MMBC) from one product, Mountain Man Lager, to adding a Light version of the beer. This paper will evaluate the following:
After conducting a basic 10 year financial analysis of the company, it has become evident that even with a highly competitive market structure they are able to improve on their performance. Ranging from 2004 to 2013 financial information, the company has shown a significant increase in their sales revenue roughly $3865 million sales in 2004 to almost four time that valuing $12970 million in 2013, which was an “increase of 10.4% over the 53 week prior year” The company’s growth strategy has been to diversify its product market and make them...
...alented young managers in this area need to be aggressively obtained for long term growth. For a quick fix, this service should be outsourced to handle current needs. Distribution channels need to improve as well. Currently, competitor’s products are easily found at major retail channels. Nestle is in the position to gain a strong hold on the home dessert market for ice cream. Ice-fili needs to compete more aggressively in this portion of the market. In addition franchises and fast food chains should be targeted for partnerships or joint ventures so Ice-Fili’s ice cream can grow in association with a post meal dessert opposed to simply impulsive snack purchases. A key avenue to explore is an Initial Public Offering. This would generate enough funds to continue capital investment in technology desperately needed as well as promoting international market growth.
An expansion of the product offerings as an alternative to the company would produce additional products such as ice cream, high-end cheese from sheep and goats as well as high-end based candy could assist in cementing the company’s position as the market leader. Despite the advantages that the new products could bring, the company would be required to make a significant investment to facilitate the production of multiple goods. Since the expansion does not guarantee growth, the corporation may incur a significant loss. If research is not systematically approached the company can lose; they must be careful to not use too much of their current product to produce the
Only about one half of all older adults (ages 65 and older) use email addresses or the internet, compared to 90% of those 18-64 years old who use email addresses or the internet (Older Adults, Technology, and the Future of Long-Term Care, 2015). The later age group is the future, indicating that they will be the most tech-savvy and prepared for the tech adjustments in long term care. The middle aged technology consumers of today are the older adults of tomorrow. Currently, older adults characterize the fastest growing age group of technology users in the country, and these rates will continue to increase every year (Tak et al, 2010). Therefore, in order for long term care to survive and attract baby boomers as its consumers, it must change. The change begins with the use of technology. Technology should assess, help, become accustomed to assist in cognitive and functional abilities, catalyze instead of replacing socialization, and use recognizable interface (Leventhal, 2014). In the future, savvy older adult consumers will be comparing facilities technology, allowing them to establish a competitive drive among facility administrators to upgrade their services. The use of technology within long term care will present the likelihood of doing more services with less manpower and administrative costs. The hands that have done paper work and performed non-skilled tasks
Since the customers in this industry are not price sensitive, having a competitive advantage is vital for firms. Hill-Rom considers customer service is its reputation, thus gives significant value to its customer relationships. In addition, its variety of products gives high competitive advantage to the
Not only does the company have six potential alternatives, but the firm also has several uncertainties if it enters into the India market space. The magnitude and timing of the firm’s retail competitors may be unclear. Competitors could aggressively advertise their current products or extend product lines if the market appears to...
On the Ansoff matrix below is shown what growth strategies for new and existing products and markets can be used from the company.
Nevertheless, it must “defend” its current market share if not increase it, by maintaining premium quality and develop innovative products. The marketing mix strategies will effectively achieve targeted revenue and profitability in the near future.
In diversification an organization tries to grow its market share by introducing new offerings in new markets. It is the most risky strategy because both product and market development is required and it may be out of the core competencies of the business firm and there lies the challenge and the statement “With high risks come great rewards”.
Distribution will be from in house directly to retailers using selective distribution, working outwards from our warehouse to other local retail grocery markets. As demand becomes greater our course of action is to use marketing intermediaries. Intermediaries will perform a variety of important marketing operations, which will include providing information to customers, feedback to producers, sales support, gathering assortments of goods from multiple producers, and transporting and storing goods. (Bovee, 2012,
Senior Management of PepsiCo is evaluating the potential acquisition of two companies – Carts of Colorado and California Pizza Kitchen – in order to expand the company’s restaurant business. If indeed PepsiCo decides to pursue the acquisition of one or both, they must decide how to align each of these business units in its historically decentralized management approach and how to forge relationships between the acquired business units and existing business units. In their evaluation, Senior Management is faced with the question of whether the necessary capital investment in order to purchase one or both of the businesses can be profitable for each of the acquired business units, but must also take into consideration that the additional business units will not hinder the profitability of the existing business units.
Thus, customers can get and receive information from each other instead of communicating to the corporations or the companies and as result they can easily spread information about company products as well as information about new arrivals
This market assessment shows that entry into the market is relatively easy for a company that is well capitalized. In addition on going threats continue from competitors like McDonald’s, Dunkin Donuts and Burger King. The threat of substitution in the beverage is huge and includes soda, fruit juices, smoothies, water, beer and other alcoholic drinks.