There are a few things that Company Q could work on and change to create a better enviroment for the community. They decided to close 2 different stores in higher crime areas stating they were losing money. Instead of closing the stores they could implement new procedures to increase security. Installing cameras or hiring security guards to stand outside the store or patrol inside would show their customers that they are concerned for the safety of those shopping there. Company Q could also could work with other business owners and city government to makes changes to the area surrounding the store.
There is difficulty in determining forecast turning points that are, from increasing to decreasing sales. Opportunities and suggestions The opportunities that Kudler has in terms of technology include improved loyalty and profitability of customers, which results from various marketing strategies. Another opportunity for Kudler involves customer purchase behavior patterns. These patterns are recognized through the current system and would help Kudler refine its processes and offerings to best satisfy its valued customers. It is vital for Kudler to continue reviewing and improving its information system to ensure its appropriateness to the changing characteristics and needs of its customers.
Once this is complete, our marketing team will need to determine the idea’s prospects in the marketplace. They will also be tasked with determining how the technology should be packaged to have the greatest appeal to our customers. Manufacturing a new product can be timely and costly. It is very important to estimate the cost of building the new product and then estimating the selling price and potential profit for the company. The process of developing any new product requires strong team leadership and cohesiveness to ensure the new product will be
Most importantly personal contact with prospective client to continue to advertise the product/service, this will assist in gaining a personal relationship with the client. The website is very important because it should indicate the product being sold in this case, homes for sale or rent and easy access to the price range of the buyer or renter. The buyer/renter does not want a massive list of different homes that are not even in their price range. It should have an option to look for a home for sale/rent in the price range that they are looking for. Mass media advertising is useful to get the word out about a real estate agent but the information provided is too vague, but in a website the purchaser/renter can look for their specific needs.
Using the Consumer Decision-Making Process The consumer decision-making process plays a major role in the purchases that consumers make. It is important for Kudler to understand this process to succeed in sales and to understand which marketing tactics work best for consumers. Kudler will want to make this decision making process seem simple for consumers. This makes the decision easier for consumers and reassures the consumer the making of the right decision. To make the decision simple, Kudler will reassure that the information consumers are obtaining about specific products is trustworthy.
What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Explain why or why not. Customizing options are extremely important to existing and potential consumers. For Thorr’s optimal marketing, they would also include lifestyle image, service offerings, quality engineering, and price.
Promotion: Informs the target market about the ‘right’ product and includes selling that product through personal and mass selling. Promotion can be geared to retain current customers or acquire new ones, but is always designed to stimulate interest to the point of purchase of the ‘right’
Surprisingly it has only been five years since we started depending on it so much. The social influences of entertainment media is some positive and some negative. Such as with blogs, Facebook, twitter, and YouTube to only name a few. These social sites could help a sufficient amount with newly starting small businesses with advertisement and getting there product whatever it might be out there for people to see, and also give feedback on it. With young children and teens I see it to be some positive and some negative.
Your front-line staff strongly impacts the perceptions and experiences of your customers. Selecting staff that will build a proper image of your product is essential, because they become the face of the product or brand. Having knowledgeable staff is important for promoting and enforcing the products image to the
It also provides customer support in the form of consulting to these customers. HubSpot has reached a point where the company can provide limited service to a diverse set of customers thus needs to consolidate and target a specific group which can provide highest utility for its efforts. HobSpot should consider the expected Consumer Lifetime Value while selection of the target markets and should consider various ways to maximize it. Key implication of narrowing the target market is better service to the customer which will result into increased retention rates. As we know increase in retention rate in the customer segment has a significant positive effect on the CLV.