A competitive marketing intelligence analysis is necessary because much can be learned from the competition’s successes and failures. This type of analysis is not, however, limited to the just the competition. The text, Marketing, defines competitive marketing analysis as the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment (Kerin, Hartley, & Rudelius, 2011). When collecting data and in order to make reasonable decisions, it is important to predetermine many
Kundler Fine Foods The purpose of this paper is to display and justify the importance given to marketing by an investigation in the development of Kudler Fine Foods marketing tactics and strategy. Elements will be identified for additional areas where an increase in market research is needed. By looking at competitive intelligence and analysis to carefully consider the development of Kudler Fine Foods marketing strategy and tactics. The development of the marketing strategy and tactics and how important each of them relates to the company, the analysis and overall competitive intelligence. Also how these areas will play an important role and if any additional area of research is needed.
The process of attracting new customers can be an alarming duty for any business. The frequent shopper program can be a productive implementation for structuring a loyal consumer foundation at Kudler Fine Foods. Rewarding consumers with points to exchange for delightful items will hold customer loyalty. The direct approach developed by KFF should focus on the privacy concerns or legal issues will arise. Making sure that consumers are aware of how ones personal information will be used will keep confusion down.
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
Understanding Business Research Terms and Concepts: Part 2 Diana Reynolds RES 351 February 6, 2012 Dr. John Kwagyan Understanding Business Research Terms and Concepts: Part 2 Which type of research design— exploratory, descriptive, or causal—is appropriate for the following examples? Explain why. • The objective of this study is to find out the actual reason of the difficulty and to propose new probable solutions or innovative thoughts. – This is an exploratory research design because the researcher collects supplementary data during investigation to produce a hypothesis • A foodstuff producer needs to recognize the demographical figures of public who buy natural eatables. – This is a descriptive research design because the producer is discovering uniqueness to probably generate a marketplace strategy for natural eatables.
Apple is not only product oriented. They do take on a market orientation approach as well as they also spend time figuring out what the customer wants through market research. The marketing concept used by the Apple Company divided into 3 categories which are customer oriented, organization objectives and coordinated market activities. In Apple Company, they have applied marketing concept into their business. As we set to know, the marketing concept means determining the needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than competitors do.
I also believe that by following my recommendations, Barilla will succeed in influencing its distributors and Sales personnel to work together and implement the JITD program. This will not only result in better performance in terms of time and money but also promote trust and good relations among all the partners in the supply chain. 2. Identification of the problem Barilla is suffering from what is known as Bull whip problem- high inventory, -magnification of demand variability across the chain-frequent promotion – only one way of flow of information. • Promotions: Barilla’s sales strategy relied heavily on the use of promotions, in the form of price, transportation and volume discounts.
The success of strategies depends on ability of an organization to satisfy customer needs better than its competitors in market. Krishna & Vasant (2006). Therefore it can be said that marketing mix strategies in retail are highly influenced by the customer’s needs and requirements and strategies adopted by competitors. That aim of marketing mix strategies in retail sector is to satisfy specific customer needs with price strategy that can make some profit for the organization (Kurtz et al,2009) Blankson(2010) explain that retail marketing mix strategies should aim to create distinct image in the mind of consumer while mix can vary on the basis type of specific market requirements. Many elements can be placed to form marketing mix of any organization but most significant elements are given as follows (i) Store location (ii) Merchandise and Category Management (iii) Pricing (iv) Inshore marketing (v) Customer Relationship Management These retail marketing mix strategies at Argos are discussed here in detail (i) Store Location:- The selection of store location is most significant and important decision and success of business heavily relies on this decision.
Explain the purpose of agreeing objectives and deadlines when researching information. If possible, refer to specific examples from research tasks you have worked on to support your answer. 2. Identify the different ways of researching, organising and reporting information. 3a) For your own organisation (or one you know well), describe the procedures that need to be followed when archiving, retrieving and deleting information.
Below is the first part of your Marketing Plan Report: QUESTION 1 You have to submit the first part of your Marketing Plan Report that covers among other things: 1. Situation Analyses, this will include: a) Situational environments (such as demand trends for your product/service; your customers; the decision makers; social and cultural factors involved; are demographic important here; state-of-art technology effects; politics and economic effects). b) Neutral environments, this has to do with groups or organizations. Media reports (favourable or unfavourable), consumer associations, and legislations. How do they have effect (if any) on your marketing plan for your product?