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Theories of business growth strategies
Chapter 2 developing marketing strategies and plans
Chapter 2 developing marketing strategies and plans
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Recommended: Theories of business growth strategies
The marketing strategy employed by Mr. Joe Nevin of Bumps for Boomers, in my opinon, is definitely the best marketing strategy to use for this specific market sector. By relying on the Internet and interacting with customers and his potential customers through Social Media outlets as well as via email, Mr. Nevin is keeping it simple for them to use but also turning up the notch on its effectiveness. According to the case study document, “88% come to Aspen specifically for the programme, having seen it online through the website or social media.” Although the website is lengthy, at a whopping 300 information packed pages that include “a downloadable brochure and a ski fitness training series…”, this is the most effective method of reaching the baby boomers generation because it is simple for them to navigate. Despite the large number of pages, once they open up their internet browser of choice, all they have to do is type a …show more content…
This has created an online presence and people find the interactive ability and responsiveness appealing. This will help draw future potential customers as well as retain current customers to the area and also expose them to other businesses and amenities that Aspen has to offer as a destination. This is hugely important as a marketing strategy, similarly to how it is in the hospitality industry; you want to build a relationship with your guests so that the one-time customers become repeat customers, and those customers become customers for life. In my Guest Service Management class, we learned that it is much cheaper to retain customers than it is to market and gain a new customer. Relationships are so important within every customer service aspect of a business; it is the ultimate key to its
Nordstrom can continue providing their exceptional online experience and client focused approach using their online system by offering an unmatched online experience that copies their in-store customer service. This would allow Nordstrom to raise its revenue considerably as well as further improving their brand image. I will also discuss specific ways of successful execution, and the steps required to provide Nordstrom a stunning picture of how to execute strategy.
The Boomer Women turning 50 this year make up the youngest lot of the Boomer Women Generation. What marketers should realize is that within the next couple of decades or so there will be a sizeable increase in this group and consequentially a decline in the strength of women younger to them will be seen in this period – the women, mentioned above, who are the usual target of marketing campaigns recently.
When an experience “fosters a sense of social connection…makes a memorable story…for years to come…links to your sense of who you are or want to be…[and] provides a unique opportunity, eluding easy comparison,” (Dunn and Norton, 2013, p. 20), it creates a memory that is cherished far more than a material good. The generation of a lasting impression offers a happiness that increases with time. Businesses, such as restaurants and tourism industries, apply this concept by advertising the experience their company delivers. For example, a restaurant must create a market to entice people into choosing it over all the other existing food options while for tourism to have success, it must market a once in a lifetime opportunity to give value to experience. People are more willing to forgo the cheap alternative as long as they find that the value, both monetary and happiness, overshadows the increased expense.
Once the target market has been identified it is important to develop a marketing strategy. In today's fast paced, information overloaded society; conveying a message about a product seems to be more difficult than ever. The consumer is bombarded with advertising everywhere they look. Today advertising not only exists on television, radio, magazines, and newspapers, it can be found on billboards, park benches, in our mailboxes, on buses, taxis, at sporting events, and on clothing.
Mujtaba, B., & Johnson, W. (2012). Case 5: Publix Super Markets--Achieving Customer Intimacy. Weinstein, A. Superior customer value: strategies for winning and retaining customers (3rd ed., pp. 269-286). Boca Raton, FL: CRC Press.
Baby Boomers have often been portrayed as a generation full of exploration, optimism, and achievement. They did pursue higher education and career interests in the hope of attaining opportunity, stability, and prosperity in their adult lives. While they did enjoy these aspects of life during the 80s and 90s, the workplace at the moment has changed tremendously thanks to globalization and the advent of technology. Most of the Baby Boomers are now in their 50s and 60s and are at the peak of their careers thus they want to be managers. However, the workplace has changed greatly and is adapting very young managers in their twenties who are technology savvy. The Baby Boomers think they are side-lined or underutilized in the workplace. There are several solutions to make this generation of baby boomers feel useful once again.
The company also benefits from e-mail in another way: employee contact and customer service. “We literally have no incoming calls—ever,” says Knapp. “Everything—99 percent of what we do—is handled via e-mail. People don’t want to call in. People don’t want to wait on hold. We have a one-hour e-mail policy, so our customers get an immediate response.
Today, consumers are driving the purchase process using social platforms, blogs and websites. By the time they enter a store or become visible in the sales funnel, they know what they want to buy and how much they want to pay. It doesn’t stop there. Once the sale is completed, consumer use the same platform to tag and share their experience. New technologies and channels cut through new opportunities that can make a company stand out from the rest of the crowd. Opportunities to build an ongoing conversation with consumers.
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
The method of marketing to a specific generation is affecting the way that we market and sell products. Different generations have different consumer characteristics, and this allows marketer’s to target specific segments. There are four common generational categories that marketing focuses on. They include:
Who is the hotel’s target market and what services do they use to attract and satisfy this market?
Nestle and other breakfasts Cereal Company’s all too often sacrifice potential segments of the market to target one specific group, in many cases; small families and children. The front page of the Nestle website features a banner stating “Click to learn more about the new recipes of your kids favorite breakfast cereals” (Nestle). It is understandable therefore why as the RIAS Presentation suggests over 50’s feel “patronized” (RIAS) a view supported by the Millennium slides, which comment; “55% [of over 50’s] believe marketers treat them in a patronizing way.” (Millennium) An alteration of Nestlé’s advertising, packaging and consumer perception is essential, if they are to target the over 50’s. As the RIAS presentation suggests “Provide choice” (RIAS) perhaps in a variance of products, and show that Nestle “listen to customers” (RIAS) will see successful penetration of the over 50 market segment.
Well, you want to be a resource for your clients and potential clients. Providing your readers and followers with valuable content is a great way to establish a relationship with them and set your brand up as an expert resource to look to when they have questions. It allows you to communicate with your clients without always trying to sell something to them.
The main objective was to foster customer retention and loyalty increasing cross-property usage. The number of multi-property guest stays should be increased to 10% from the 5% rate experienced during the last year.
Stuart and Tax (2004) in their study noted that customer experience is the critical element to enhancing by design the service system to ultimately achieve customer delight and loyalty. Johnston and Kong (2011) also noted that while, Bate and Robert (2007)