This information is then combined with the produce the customers purchased. The purpose behind this is to always, have what loyal customers want on hand at the Kudler locations. Kudlers is also looking into holding classes in teaching these customers about the products they carry. The use of demographics and Psychographic were explained in how they help in business planning. Demographics and Psychographic, both help explain the customer in general, and what he or she is looking for in the business.
During the past few months I have visited K-Mart many times to make purchases as the location is very close to my employer. I find the store to be clean and neat; however the store is very large and sometimes can be confusing in where to find things. Products seem to be spread out and rather than keeping seasonal products up front where the customer can get to them easily the customer has to walk all the way to the back of the store to get to them. I am sure that the reason for this is to make the customers walk past the jewelry counter, electronics, toys and cosmetics in hopes they will purchase additional items. Many of the sales associates are friendly, however they seem to be hard to find.
Boots have to make sure that they are able to meet customer expectations P4 - Identify the competitive factors in the retail environment a selected organization faces Bargaining power of buyers: Customers are powerful potential buyers as they can switch easily and doesn’t cost them much as they have stores in easy locations. However supermarkets will have to reduce prices in order to attract customers. There are a lot of small sellers and few large buyers as the buyers buy in large quantities which show that they are powerful. A single buyer is a large customer to a firm as they buy more. Buyers purchase from multiple sellers at once, such as customer stores.
Participatory planning includes the people who will be affected by plans and who will be asked to implement them. Equitability and transparency are properties that will increase the customers trust in the process of retail. The way employees and managers interact within the process will determine the outcome of the process. Successful communication can increase the mutual understanding of values and objectives among customers and form a basis for relations and future purchases. The more comfortable a customer feels with the company that they are purchasing from, the more often they will go back to that company and purchase more merchandise.
For example this is including things like such as if the customers is going to choose to buy their clothes from a business like Debenhams as they might be trying to show that they are very happy on the product that they are selling. Design of the marketing mix to satisfy the needs of the target market: The business will design their marketing mix around of the customers’ demands. This is important that the business design something that will meet the customers demand because they will have more sales and also more profits, if the business doesn’t do this they will lose sales and also a lots of profits, so this is very important that they do this if they don’t it will bring their businesses down. The business will make sure that they are investigation to find out what will be the best products
Unit 1: Exploring Business Activity M1 (Assignment 1) Oxfam Stakeholders Aim of organization Influence Point of view Owners To work with others to overcome poverty and suffering. The owners have a large influence on this aim. In their view, if they get all their staff to achieve this aim then they are giving a good name for Oxfam and will receive further donations and funding. Shareholders To work with others to overcome poverty and suffering. Their influence is not a lot on this aim.
Moreover, I think Nordstrom should be classified as specialty store because their sales emphasis on customer services in their department store. 2. Customers are offered full service when they are shopping in Nordstrom. Sales associates are serving their clients with a “heart experience.” They aim to make clients feel comfortable when they are doing their shopping at the department store. Nonetheless, Nordstrom is offering self-service at their store.
They also ask customers about what they would like to see in their stores or any other items that the company can improve on to make their business more enjoyable. In order for Kudler Fine Foods to keep a competitive edge they need to strengthen their marketing research. The company knows what consumers want know and what they like about their company at the current moment, but the company needs to do some research on business trends and forecasting. Kudler Fine Foods need to use secondary data in order to find this information out. The company needs to see how other companies similar to Kudler Fine Foods did throughout the years.
The role of marketing function in business is critical for any business or company because without marketing the business will either make or break the company. Marketing plays a central role in creating, communicating, and establishing the value for the business. It helps a firm in creating value by better understanding the needs and wants of its customers and providing them with products and services that they can use. What are some activities of the marketing department? Marketing department have several activities because this department is the one who really makes the company and attract the customers and consumers.
She poses the necessary Knowledge to manage and provide proper coaching to her fellow employees. Her ability to increase revenue for center brings forth her skills in her business oriented thinking. Her extensive knowledge in technology especially in a healthcare sets the pace for future progress. On the other hand, her self-centered and opinionated personality may result in an increased employee turnover. Felipe is the second candidate with a more participative type management style which helps in the interaction with fellow employees and patients as well.