this means that they will have a lot of competitors and their competitors will be looking for ways to surpass B&Q. A way in which B&Q can monitor competitor’s activities is by conducting market research on their competitors by going on their competitor’s website and assessing how their competitors use the design of the web to attract customers. Also, another way in which B&Q can monitor competitors activities is by using their customers to make enquires about their competitors services and his will give B&Q an accurate result because when a business meets a new customer they tend to provide them with accurate and updated research and this will benefit B&Q really well because B&Q can then find ways to beat their
They will able be given the opportunity to compare prices, read product reviews and view brand offers on social media like Facebook. This give of service will allow Tesco’s customers to walk away satisfied with what they have purchased. This would fit into the objective Productivity improvements and new technology because they will be using a new technology scheme to be able to send these recommendations to their customer whist in store. They will also be using new technology by adding in the Wi-Fi system. If it proves a success this could be a major new addition for
Tesco's website allow people to search through the products, that customers can order through the Tesco Direct or go for it to the store. Another of good ICT use by Tesco is that they are one of the companies that have started allowing people to get the membership by getting a Tesco Card, which then allows them to gain points, because of which they will get many discounts on Tesco's products. The different costs incurred Tesco as a big company has to be aware of costs. The most important ones are the taxes and import duties that they have to pay. Other costs might include petrol for the trucks, by which Tesco Direct works and eventually money that they will have to pay back to customers who were not pleased with product, that they have purchased from the store, because of its quality as it might been broken etc.
MKT 421 Marketing Week 2 DQ 2 What is competitive intelligence? What is the importance of competitive intelligence and analysis in modern-day marketing? How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? MKT 421 Marketing Week 2 DQ 3 What are the different types of buyers and consumers? How does the type of buyer or consumer affect marketing strategy?
By using the social media, web pages and purchasing advertisement banners McBride Finance Services pinpoint a particular group of people. “Web 2.0 social media applications such as Twitter and Facebook create new opportunities for firms to improve their internal operations and to collaborate in new ways with their customers, business partners, and suppliers” (Culnan, McHugh, & Zubillaga, 2010, p. 1). Advertising on the Internet can be tough; it may require the use of a consultant who specializes in Internet marketing. McBride Financial Services would benefit by starting off small when using the Internet market their services. Conclusion McBride Financial Services provides a require service for anyone that is in the market for a residence or recreational property.
In addition to the marketing surveys the company performs, they could also employ secret shoppers, build a stronger online presence, monitor forums and scope out their competitors (Armstrong, 2011). Better understanding of their customer needs and what the competition offers of which Kudler may not is likely to increase Kudler’s understanding of marketing and customer loyalty. Competitors in the local area of Kudler Fine Foods should not be the only competitors considered in the company’s search for a better marketing strategy. Viewing online and worldwide competitors as a threat should be researched to see what each company brings to the market. Kudler would do well in forming a marketing research team and employing a marketing information system to help improve their company’s
The company will have to forge alliances with partners to participate in the loyalty program which will affect the sales department as well as upper management. Operational The loyalty program should be functional during the times that the company is open for business. It should passively collect customer data as customers swipe their loyalty cards during transactions. The system should make reports available to management so that they can focus on reducing the cost of orders and stock-outs while increasing customer purchase behavior with targeted offerings.
Benchmarking is “discovering how others do something better than your own firm so that you can leapfrog the competition” (Kerin, Hartley, Berkowitz, Rudelius, 2006). Using the frequent purchase program, Kudler can collect new data from its customers. Through the use of market surveys, similar to the 2006/2007 market survey, Kudler will be able to determine what its customer catering needs are, if there is a demand for it, the types of pricing the customer would find acceptable and ways in which to promote it, in addition to adding to its marketing mix (also known as market orientation). As with market surveys, Kudler can conduct research on the types of food available on the market and determine what new products are popular with consumers through its food marketing trends studies. Pricing Kudler wishes to offer competitive pricing relative to other caterers.
While all of the other competition requires that the customers come to them. There are other actions that can be taken to assure we stay above the competition. Advertising would keep us afloat as well as carrying our product/service out to potential clients. Promotions are easy to input into the business, like giving customer discounts for repeat visits, cash back, and coupons when reached membership
This could be related to Tesco’s as they could offer to train their employers with more skills. • Using a Smart board for presentations or work related projects. This could be relevant to Tesco’s as they could use smart broads when they would have business meetings. • The purpose of being able to train employees would benefit a organisation in the long run in terms of having the staff more skilfully trained • The purpose of a smart board is to give information. Web based • Web based communication is where the information that a organisation has is transferred onto the organisations website • Using the internet.