In order for Kudler Fine Foods to develop a functioning frequent shopper program, it must track and monitor consumers shopping behavior. The drive of market research is to collect data on consumers and prospective consumers. The collected statistics support business decision making, which therefore diminishes the risks involved in making these conclusions. This type of research would also benefit the consumer by lowering the cost on items bought most, while giving them personalized incentives to return. As a result, legal matters concerning privacy of the consumer has risen and established far more attention.
Newell’s customers were mass retailers such as Wal-Mart, Kmart and Sears. These three powerhouse retailers dominated the market share of mass retailers. Consequently, these retailers were able to influence the type and volume of product delivered to their stores. This power also permitted them to influence price and the timeliness of supply. This external pressure incentivized Newell to optimize their supply chain and maximize supply efficiency, which led to systems like cross-docking.
Economic value is a primary focus to determine infrastructure between the supply chains. No ordering and producing products without a demand will promote flexibility in terms of product mix and eliminate product waste and services. The organization will not go without stock, sales, and distribution of products in demand. Therefore, Home Depot’s supply chain value, management, vision or goals and development priorities should focus upon the following objectives in the next 24-month period. Home Depot’s key to success is the way the organization treat people well and encourage associates to speak up and take risk in leadership and development for growth.
We also gained a close understanding of how Wal-Mart uses strategic planning to add organizational and stakeholders’ value while increasing profits. We uncover a series of great efficiency tools used by Wal-Mart such as cost leadership to leverage operating expenses, and how it is used by the organization to strategically dominate the competition, and lead the industry by continuing to provide quality products at discount prices. This perfect planning continues to demonstrate Wal-Mart’s expertise in effectively utilizing global resources to maximizing profits while minimizing the shared risk associated with it. In the end, Wal-Mart’s narrowed financial expense control and robust inventory management alongside with their strategic planning; will sustain a profitable successful organization with profitable
This for Tesco can be a bigger advantage as there are more options for consumers to buy from. Taking this into consideration, penetrating the market with just one type of product may work out in Marks & spencer favor too , as the business are able to push the product forward tougher. Both of the business with the help of market penetration is able to attract customers as well as existing customers to buy more, which helps them to increase their sales and gaining market shares. The two businesses correspondingly use market development to introduce their products and services to new markets. Marks & spencer have branched out to over 390 international countries with stores, while Tesco has only 14 international stores.
Pete's Peanut Snacks What interactions need to take place among the marketing, manufacturing, logistics, and finance departments? Explain the logistics department's role in the introduction of the new product. A good interaction between logistics and new product development is done to achieve company market success in area of snacks. Communication among different departments is essential. These are considered to be the major functional department of any company- manufacturing, marketing, finance and logistics.
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.
The job of a salesperson ranges from order takers to order getters. Personal selling is the key to developing strong relationships because it is directed toward achieving mutually satisfying results between customer and seller, which will sustain and enhance future interactions this is very important because it is a lot cheaper to retain current customers than to attract new ones. However, “In a results-oriented environment, the foundation of many compensation systems, sales quotas can focus sellers and managers in a direction inconsistent with customer-oriented selling.”(“Evans”,
Summarise what steps you will have to take to market your business. Marketing is the management process which identifies customer needs, anticipates their future needs and then goes about satisfying them profitably. Also marketing is really about getting the right product to the right people at the right price at the right time. This is important to my business because it is essential for me to get my marketing right. As a business having a right product means having something which will sell also having a competitive price for a product meaning not an overpriced
Northern Caribbean University College of Business and Management Department of Business Administration Presented in partial fulfillment of the course MKTG 490- Strategic Marketing Marketing Plan To: Dr. W. Greenwood From: Latisha Simpson - 11120405 Travis Smith- 60100223 Gail Wanlis- Executive summary Seprod strive to serve its customers with value and competitive prices plus a wide assortment of products options. We aim to take advantage of opportunities by tightening channel relationships with our distributors and suppliers as well as our subsidiaries. Customer satisfaction is paramount as we attempt to cooperate as best as possible with the volatile economic conditions to meet customer needs. We target middle and lower class customers as well as children and family demography. It is our goal to position our products in such a way that our customer experience unrivaled satisfaction mentally and continue to patronize our organization despite our competitors offering.