Ann Taylor’s main challenge is to remain relevant in a market where fads and new options are constantly threatening to steal market share away from them. High-end and low-end brands such as Gucci and TJ Maxx respectively are offering specialized goods to cost aware consumers. To position themselves effectively, Ann Taylor must remain true to their original image as an upscale retailer of professional lades while still offering clothing at a price that consumers are willing to pay. One possible alternative for Ann Taylor is to continue what they are doing as an integration approach leader. Since consumers could buy cheaper alternatives at bargain outlets, the integration strategy allows Ann Taylor to loosely compete in price while keeping a strong focus on high quality products.
(Strengths, Weakness, Opportunities, Threat) analysis, it does cite the potential threat of a gourmet shop opening in their geographic market. 2. Threat of substitutes: Are there alternative products that customers can purchase over Kudler Fine Foods products that offer the same benefit for the same or less price? In the unlikely event of a downturn in the economy and a decrease in the disposable income of its customers, customers may shift their purchases of gourmet foods to a suitable replacement such as purchasing items at a grocery
List any outside concepts that can be applied: A company such as Heinz needs to strategically set their prices keeping in mind historical data relevant to its consumers and at the same time have enough margin for the retailers that are shelving their product. There are different avenues that Heinz could primarily take in order to alleviate itself from any discrepancy through price setting that could arise from the retailer and/or the consumer. Cost-based pricing: This method of pricing is contingent upon accounting data and keeps the Return On Investment (ROI) in mind when setting prices. Typically, cost-based price approaches are cost-plus pricing, target return pricing, markup pricing or breakeven pricing. Competition-based pricing: This can be simply stated as the prices are being set with keeping in view what price tag the competition are putting up on their products.
The company is still expanding even in this poor market and acquiring new stores and companies. Do you think John Mackey has a good strategic vision for Whole Foods? Why or why not? What do you like/dislike about the company’s mission/vision “Whole Foods, Whole People, Whole Planet” that is set forth in case Exhibit 1? Do the mission/vision and the core values underlying it (case Exhibit really matter at this company or are they just nice words and cosmetic window dressing?
In a monopolistic competitive market profit is important. When a firm first enters a monopolistic market they can act like a monopoly until others join in the market which will lead to competition for lower prices. Kudler Fine Foods will compete with other fine foods for lowest prices on their goods; however, they have to make a profit in order to stay in business. In the short-run Kudler will have more profit, but in the long-run the profit will decrease to other competitors in the
It also helps Tesco to identify they gaps in the company and market world. If Tesco is not promoting their products nobody will know their new products exist, that is the reason why is important to promote they products, if Tesco should not promote they products there customers will go to Tesco competitors like Sainsbury. Price: The prices are a very important part of their business but unless their business sells these products with reasonable prices and they don’t advertise and promote this then their customers will never know about this, so their customer could go to other business who are cheaper than them. Their prices very important in a businesses because if there prices are not reasonable than business will not be able to sell their products. If people see the adverts on TV, people want to know how much these products cost and if the product is good and cheap than it can attract customers to the business and to the products.
To develop a IMC plan, the company must insure that all marketing initiatives align with the company’s mission statement. When selling gourmet foods, it is more important to have the highest quality foods and customer service than it is to have low prices. Kudler must stay focused on this aspect at all times when developing new tactic and strategies as not to succumb to the pressures of the discount shopper. For example, Our family use to own unique high end shoe stores in Southern California. They were run by two different family members with two very distinct management styles.
Yes, John Mackey has a good strategic vision for Whole Foods because it is realistic and above the normal expectations of what a vision should be. As the healthy eating patterns change in the population as well as the demands, Whole Foods strives to supply that demand by offering products that will fit the needs of living a better life style. In doing so, the chemical and
Here are the reasons why: Staple convenience products are customer products that are purchased regularly and without much thought. Examples of staple products are food items like eggs, bread, and milk. Customers usually buy staple products to replenish what has been used up. It is important that marketers make staple products easily available, so they must be mass marketed with wide distribution. You will not find milk, eggs, and bread only sold at Vons super markets.
Market research identifies these factors and anticipates how they will affect people's willingness to buy. As the economy and social attitudes change, so do buying patterns. Companies needs to identify whether the number of target customers is growing or shrinking and whether their buying habits will change in the future. Market research considers everything that affects buying decisions. These buying decisions can often be affected by wider factors than just the product itself.