A local business that I visit frequently is Sincerely Yours. Sincerely Yours is a locally owned and operated shop that offers gifts, paper products, cards, and so much more. One of the main components of this store is the quality products that they offer to the consumers. The owner of the store talks with the shoppers to find out if there is anything that someone is looking for specifically and will do her best to get that particular product or something similar or close to it. The owner will use her resources in order to supply the shoppers with products that are popular or a brand that is being requested.
5/2/13 BSA/310 Frequent Shopper Program Kudler Fine Foods created a frequent shopper program which gives customers incentives to continue shopping there. Their rewards are determined by how much is spent on groceries and how frequent purchases are made. “Frequent Shopper Program proves the ability to gather data for marketing programs and run promotions for the loyal customers.” (Frequent Shopper). Web based advertising would allow for major cost reduction and provide helpful and effective consumer awareness about said products. In order for Kudler Fine Foods to develop a functioning frequent shopper program, it must track and monitor consumers shopping behavior.
Also they will be able to get feedback from customers from the website. Kudler has moved away from taking inventory on paper to using computer software to manage the items that are sold, shelved and items that are in the back to be placed on the shelves. By the company getting this new technology within their organization they will be able to maintain everything smoother then before (Kudler Fine Foods). They will be being able to allow customer to use the website to see what they store has before they get there and see what sales that are going on at that particular time. Also, they are able to keep up with the inventory easier then taking it down on paper when
Other types of advertising include hidden persuades. One can look at the example of door to door selling where catalogs are given to people and when these catalogs are recollected, the people are asked whether they want to purchase anything found on the catalog. Another type of hidden persuades includes sales promotions. An example includes magazines such as the Bargain magazine where the customer may have an overall view of what the market has to offer. Also some firms issue copies of their magazines with popular newspapers for example a magazine called Homeworks, which is a magazine advertising furniture, is issued with the Sunday Times.
They will regular have special offers on within stores around the country also. Tesco’s sales promotions are the Clubcard points and school tokens. The Clubcard points try to make shopping better for their customers. This type of promotional technique attracts the customer who is looking for discounts and other types of saving options. The school tokens are a good sales promotion because to get this sales promotion you have to buy products from the store to a certain price.
The consumers will benefit by obtaining the quality goods Kudler provides as well as customized promotions based on personal shopping patterns. Tracking the shopping patterns of the customers will help develop a marketing strategy for Kudler. This strategy will allow Kudler to offer certain products at times when an increase in demand has been determined by shopping trends. Kudler will also benefit from this program with an increase in revenue and a more stream lined business process. This program will keep track of individual customers purchasing behaviors, which will allow Kudler to know how much of a certain product to stock.
Another trade-off for the company will be the stores performance. Because this is a newly acquired system, employees – although trained on how to operate the system will surely run into issues at the register. This will make for longer lines at the store and will require employees to handle unruly customers. The trade-off for spoilage will require the store to account for more deliveries from wholesalers for the products that will need to be stocked. This will ensure more delivery fees and more paperwork for the company.
Food cost managers will generate sales forecasts to reduce the carrying costs of inventory. Perpetual inventory management will track all in store inventory transactions. This includes ordering, receiving, selling, cycle counts, and inventory adjustments. An automated inventory system would allow Kudler fine foods to meet current and future customer demands. This would also save money on hiring and training employees to order products for the stores.
The creation of a roadmap to a strategic plan should be followed up with a scorecard of the business. The scorecard will allow the business to see if the roadmap is work or not and allow some adjustments to the plan where needed. As a small bakery it is important that my strategic plan helps to drive consumers and generate revenue. Small businesses needs to monitor their plan on a daily bases to stay ahead of the competition. Small business will need to think outside of the normal circumstances in marketing their product.
Most relationships start as I-It Relationships and develop from there. I deal with I-It Relationships when I am at work. I am a sales associate at a high quality loose leaf tea store. Customers treat me as either a means to getting the tea that they want or a nuisance in that they want to enjoy their window shopping without the social pressure of having to make a purchase. While being in my role as a sales associate, I treat customers as numbers.