The mass market traditionally focused on generating “hit” products that occupy the head and neglect the low-revenue niches markets comprising the tail. The niche customers have different needs especailly for those hard-to-find product and they willing pay a premium to a firm that best satisfies them. Therefore, the overlooked niches provide a potential growth and profitable market for company and is unlikely to attract many other competitors. Furthermore, technology is dramatically changing the the way we live and we do business. As a result of consumer’s embrace of the internet as a shopping media and the internet has directly contributed to the shifting of demand of products from hits to niches comprising the long tail.
Explain how Internet Marketing can make your business more efficient, effective and successful (P5) The increasing availability of the web gives Adidas all kinds of opportunities to speed up their interaction with both suppliers and customers. Tis can lead to a number of efficiencies. Supply chain efficiencies: A business will always be both a buyer and a seller, buying products from other businesses , buying product from others and selling to others or private consumers. A company like Adidas has to buy the materials it uses before it can sell finished products. For business working with supply chains they can create smother, faster ways of dealing with the firms they regularly buy from.
Pump House needed to figure out a way to brew its beer with the limited supply of hops available and it did so by changing the brewing process slightly. Pump House needs to maintain most of its focus on buyers; it is currently gaining recognition as a top notch company in its industry by winning awards for its beer. Competitors are
SWOT ANALYSIS STRENGTHS | WEAKNESS | OPPORTUNITIES | THREATS | The ability to help busy customers with their grocery needs. | Prices are higher than other supermarkets. | They can expand all across the world to open up new stores. | When other supermarkets offer online shopping. | Longest lasting online grocery chain.
KFF should research the market to find the needs of the customers. Big companies could be the perfect place to start the research like what kind of orders they place and when they order. Other sort of information could be found in the census reports like type and age of population, income, religion, education, occupation will help decide the needs of other consumers. This will help narrow down requirements for catering business. If the population is young then may be more wedding parties, bachelor parties, Halloween parties or if the population is older then more of formal parties in the gardens and vineyards.
Bargaining power of suppliers- This is a very important aspect of the business, customers want quality products at the best price possible. It is imperative that the manager or person in charge of inventory is knowledgeable in his/her field and has good communication with suppliers to insure better prices. 3. Threat of entry of new competitors- The threat of new competitors is medium. The cost to open new business is high and not everyone can afford it but it is also important to take into account that this is a commercial area near a college campus; therefore it attracts more business than other areas.
Defend your strategy to successfully compete against market leaders in your segment. Hints: For example, in the soft drink market, it is intimidating to try to compete against Coke and Pepsi. Newcomers in mature markets typically must pursue niche markets or even create new market categories, as Red Bull did with energy drinks. c. Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text (p. 131 | Market Share Distribution). Hints: Every business faces competition and the non-alcoholic beverage market is an especially crowded market.
This shows that the extent of digitalization has contributed to the growth and increasing diversity of the new media on society. Digital convergence has resulted in interactivity. Both convergence and interactivity have impacted on the growth and increasing diversity of the new media on society creating a participatory culture where media producers and media consumers interact with each other. Being able to vote for their favourite contestant and being able to call the judges on x factor has resulted in users having more control over media consumption than in the past as they are able to put forward their own opinions. In other words,
Marketing Plan for McBride Financial Robert Marler BSA/310 November 9, 2014 Joseph Rezendes Marketing Plan for McBride Financial The market, and what it can do for your company. A great marketing plan can go a long way for your company and making your more competitive with the competition. Think of reaching across the barriers of distance and time to bring in new clients extending your business needs across the globe while still staying in one location. So along came the Internet and globalizations. The Internet brought everyone right next door.
Low customer satisfaction is another internal weakness that is crucial to the success of CanGo. Another internal weakness includes severe communication issues within CanGo’s management and employees. External threats such as competition, plays a big role in the future success of CanGo. Your organizations internal organizational strengths such as online growth, and cost advantage offers great potential if properly utilized. Another external threat includes economic slowdown.