Integrated Marketing Communications Plan An integrated marketing communications plan is useful for Kudler Foods because it will provide the company with a cost-effective way to address the needs of consumers and reduce the price of marketing. This plan provides a Kudler with a newly refined marketing plan that will help during the implementation of the before mentioned plan to suit the needs and wants of the current/future consumers. To develop an effective integrated marketing communications plan, I will define the strengths and weaknesses of the company based on the results of the existing consumer research and make suggestions on marketing strategies/tactics that will assist in improving the before-mentioned weaknesses. I
According to Pearce and Robinson (2011) by thoroughly developing and exploiting its expertise in a narrowly defined competitive arena, the company achieves superiority over competitors that try to master a greater number of product and market combinations. As stated in their Declaration of Interdependence: “Whole Foods Market is a dynamic leader in the quality food business. We are a mission-driven company that aims to set the standards of excellence for food retailers. We continually experiment and innovate in order to raise our retail standards”(Whole Foods Market, 2012). Through identified niche markets, WFM can leverage some of their customary strong points by recognizing innovated uses for current goods using market penetration.
Is Whole Foods’ strategy well matched to market conditions in the food retailing industry (one of the criteria for a winning strategy discussed in Chapter 1)? Yes the Whole Foods strategy has worked well for the company. They have good products and show good employees who also have shares in the company. They do not have much competition only on smaller scales or small areas in existing regular food markets. The company is still expanding even in this poor market and acquiring new stores and companies.
Organizations use the five- step marketing research approach to recommend to the organization what is needed, what will sell what the consumer wants, and knowing competitive intelligence. Marketing research gives the organization the best opportunity to develop breakthrough opportunities, and gives the organization a competitive advantage. Kudler Fine Foods is an organization considering expanding. In this paper, the subject to define is the importance of marketing research in the development of Kudler Fine Foods marketing strategy and
The marketing strategy will present consumers with a line of fine quality imported or domestic foods or products. The marketing strategy will also include the introduction of a loyalty program in which will reward consumers with perks and savings for their continued support. In order to create such a program that will become popular with consumers, data will need to be collected and analyzed. This is where the marketing department will be spending a lot of time on. The expansion of the company will require additional market research in interested regions.
Customer retention is one of the most important parts in keeping a company going strong. Chadwick must realize that the customer’s opinions, finances, and willingness to buy their products are significant in moving forward. One way that Chadwick can see what customers are thinking is to have a section on their website that allows them to ask questions about the products and to express their concerns about the products that might not be working. If the company provides this option on their website, the innovation and learning perspective can focus on ways to improve the products and keep the customers coming back for more. Another way to see what customers think of the company and its products is to ask them directly, whether it’s sending them a survey in the mail or asking them at the doctor’s office.
Panera Bread Company in 2012 1. What are the key success factors for a restaurant chain that operates in the fast-casual segment of the restaurant industry? Some of the main success factors for the fast-casual segment of the restaurant industry includes somewhat of a large degree in quality control and knowing how to achieve that level of quality control. Another key factor is the extent of product line and product selection. Lastly, a well-known and respected brand name can indirectly be a important factor of success through word-of-mouth.
The external stakeholders are dietitians and health care professionals, customers & suppliers, industry, nongovernmental organizations, and investors. The Company’s SWOT Analysis Strength * Strong brand portfolio aided by appropriate investments in brand building * Focus on product innovation helps to retain customers and improves the product mix * High market brand recognition * Good cost control strategies
Product development is the lifeblood of any food leading companies. Therefore, R&D should be the main focus in combination with good marketing strategy, which will maintain products quality and/or create new products that in turn create new customers. Creating and building brands involve various marketing strategies, which include promotions, advertisement campaigns and competition for display location at retail stores. A company should also take into consideration that their marketing strategies have to match its retailer stores strategies, for retailers will decide which products they want to be more appeal to consumers through their marketing channels. No stranger with these success factors in the food industry, CAGP had their own strategies.
i ----- ICS - case NESTLE 1) Describe what is meant by market orientation. Market orientation is defined as a business approach or philosophy that focuses on identifying and developing the stated or hidden needs or wants of consumers. Besides, market orientation attempting to tailor products to meet the demands of customers and can be thought as a coordinated marketing strategies between a company and its customers. Referring to the case study, market research showed that NESTLE’s customers is interested to get information about its brands and require more information about what they eat and drink. The customers felt this information should be supplied as part of the product.