From the complied information the decision making process begins. Marketing Strategy is defined by businessdictionary.com as an organizations strategy that combines all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the right product mix in order to achieve the maximum profit potential and sustain the business (BusinessDictionary.com, 2012). The marketing strategies and tactics of Kudler Fine Foods are preceding in the right direction and with minor adjustments and increased marketing research the goals of increased revenue and cost reduction will be met. In conclusion, marketing research is an essential part of Kudler Fine Foods’ ongoing success.
1.Why is it necessary to clearly identify, before designing product and service offerings, customer needs, and what are some of the less obvious service aspects that might inform purchasing decisions? Customers are what keep your company going. You need to know exactly what it is that they want so that you can provide it for them and so profit from them. Every customer is different from another individual, therefore every customer has a different need. Understanding customer needs will help you define new market opportunities and drive innovation and revenue growth in every aspect of your organization.
By fully managing the organization and their effectiveness and efficiency Kundlers can obtain the overall business intelligences goal of the mission. The marketing strategy should look at and use a competitive intelligence to accomplish these goals. The strategies of understating and knowing productive organization can give the upper hand with knowing the competitors market. Also by viewing the competitor’s sites, stores, and marketing strategies Kundlers can achieve the mission they set for their own business to excel past the competition. Analysis within a business should serve as a vital function.
Strategic Plan: Part II Anonymous BUS/475 February 23, 2000 n.a. Strategic Plan: Phase II Several trends and forces, both external and internal factors can lead businesses on different pathways. Trends and forces are necessities that must be analyzed by organization and fostered as a tool to increase revenue. Organizations that respond and react to changes and modify their strategic plan when necessary will remain superior in the industry and competition. In order for a business to thrive in today’s shifting business environment, the administration of that particular organization must have the capability to respond to changes in the trends and forces in the business setting.
Target’s capability to process products depends in how effective the company receives and distributes. Distribution centers are located on both the West and East side of the country and transports goods to all Target locations to help them uphold the competitive advantage which allows them the ability to control product costs (Misra & Choudhary, 2010). In an ideal world, having an effective processing system and a reliable transportation network running cohesively within the supply chain in order to improve reaction times to meet customer demands will allow a company such as Target to better control its distribution and shipment process. Target has realized that being flexible has been an advantage since the fuel price has risen and it is not as easy to have goods transported to the distribution
Market research starts out by finding information on customer’s needs, the business competitors and the market trend. Market research can be collected through primary and secondary research. Market research plays an important role because it can reduce business making the wrong decision. Without market research
Penny. This company provides goods. Their business activities are to be the customer’s first choice and to enhance the quality of life by being bigger and bolder. The following paragraphs will show the financial and organizational information of J. C. Penney. J.
One of the marketing strategies that ensure the company of long-term profitability is the personal relationship built with the customer base. Customers will not have the same shopping experience with large grocery stores. If there are items that customers would like to have available in Kudler stores they are able to communicate that to management. Management can then relay the data to Kathy Kudler who will search the world for the best available items to satisfy the customer. People will not have the loyalty they get from Kudler at other grocery marts.
“Competitive Intelligence is the ethical gathering and analysis of competitor and market information from open sources. This analysis is used by organizations to make better strategic decisions.” (Cipher, 2012). Competitive intelligence and analysis is important because it provides a method that Kudler Fine Foods can use to assess and evaluate the marketing tactics that are successful for their competitors. By employing competitive intelligence Kudler Fine Foods can gather information concerning their competitors marketing strategies and then use that information for their own advantage by incorporating certain strategies that will fit into their marketing plan. Competitive intelligence will also allow Kudler Fine Foods to gain knowledge concerning certain trends, such as legal, environmental, industry, international, regulatory, and economic, which they can use to further develop successful marketing strategies and
Harley Sanchez Professor White Advertising October 24, 13 1) Marketing is one of the major success pillars of a product; marketing communication plays a major role in influencing consumer purchases in new product categories. The informative role of marketing communication is likely to have a much larger effect with uninformed consumers than with consumers who are better informed. Integrated Marketing Communication. IMC is a simple concept; it ensures that all forms of communication and messages are carefully linked together. IMC involves the coordination of all forms of marketing communications into a unified program that maximizes the impact upon consumers and other types of customers.