With its massive volume of data, Tesco needs to handle better the information by investing in NCR Teradata data warehouse, providing Tesco with 360-degree view of its customers. With this big investment in data handling system, Tesco could generate more personalized approach to its customers. Tesco has competitive advantage in offering its customers based on their buying patterns and their last baskets purchased. Tesco offers more personalized vouchers and specific offerings to its Clubcard holders. Marketing expenditures could be more efficiently targeted on its regular customers and their need segments.
Advertising would help them focus not only on their current customers, but more so for the younger generations that have adapted to search and learn through technology. As their current customers get older and expire, these younger generations will become their customer base. By having a website, they will also be able to provide more education to their patients. The site may also provide answers and act as yet another form of customer service. Pharmacy ABC will be able to provide convenience for their patients by adding online refill availability which will save both time and money.
For this task I have been asked choose a business to analysis how the business has been designed covering the points I have been discussed in P1, P2, P3. The business I have chosen is Amazon. Amazon objective are to become a better place for customers to buy and sell products to the highest standards while they still making money, they also discover new products the releases that customers would be interested to purchase, but they aim to keep their customer pleasure by offering discount and giving vouchers by storing their products in large warehouses. Amazon is a biggest worldwide business which provides products to their customers; by providing latest products to their customers they could make great money. Selling latest item on their site would get more customer, by getting more customers this will help Amazon business to gain better shopping place for customers.
P3 In this task, I will be writing about how to focus on the customers by providing good customer service as it is essential in retailing. I will be focusing on how retailers are related to their customers at functions such as after sales service. Customer focus In a business, it is vital that they concentrate on customers’ needs and ensure that they meet their customer needs better than the competitors. Importantly, the retailers are expected to meet the customers’ satisfaction; living up to the customers’ expectations and even more if required. This ensures that the customers are loyal to the company and more interested in other services provided which automatically increases the profits.
The information available from tracking website visits also provides data for planning cross-selling campaigns so that you can increase the value of sales by customer. 5. Relationships- the Internet provides an important platform for building relationships with customers and increasing customer retention levels. When a customer has purchased a product from your online store, you can begin the relationship by sending a follow-up email to confirm the
Lessens need to purchase “hard copy” of these. * Other competitors; Circuit City, CompUSA, Amazon.com, even Wal-Mart, Target, etc. * Possibility of losing customers to wholesale business. I think that for the most part Best Buy has lived up to their mission statement, because they are at the intersection of technology and life. I believe this to be true because they offer some of the newest technology in their store and it is place where people can actually interact with salespeople in real life.
Taylor focused on using independent sales representatives and brokers of supermarkets in order to distribute this product. A good hand around the networks and which people to trust down the chain to distribute the product was a great value driver for the company. Softsoap sold very well in the soap section of the supermarkets rather than the beauty aid section & was priced very fairly. Minnetonka also created value for their product by customizing their product line. They introduced themselves in the toothpaste market, even if not for a very successful stay, they were looked at as a company willing to take risks to expand their product line.
You can choose to advertise your products in the public by putting up billboards, posters, commercials and leaflets. Personal Selling Personal selling is a very effective of maintaining sales and customer relationships (loyalty). This in involves interpersonal selling to the customers, which is the contact between the buyers and the sellers with the aim of convincing the buyer to think and behave a certain way. Sales promotion Sales promotion is when a business is trying to persuade the consumers to buy a particular product in order for the business to try and make some profit or for the exposure of the product. In this you have one of the most common sales promotions which is the By One Get One Free (BOGOF), this is when the company is telling the buyers that if they buy two of the same products, they will be paying for just one of the products meaning that they will get the second product for free.
M1 - Explain how promotion is integrated with the rest of the marketing mix in a selected organisation to achieve its marketing aims/objectives. Businesses may have several marketing aim and objectives which are met through the integration of marketing techniques e.g. promotion and the marketing mix. Companies like M&S operate on a global basis therefore their aims and objectives may differ for regions, however the main aim for each company would be to inform the market, increase demand and differentiate the product/service. Marketing objectives of Marks and Spencer is to ensure consumers are better informed about the products/services they provide.
Customers earn points for £’s spent and these points can be redeemed against food, fuel and even days out; and this is what sets Tesco apart from the other stores. Their range of products and services is more attractive because the customer feels they are getting something back for spending their money at Tesco. By Stacey’s definition (Stacey, 2007) technical rationality is key in bringing together problem solving and decision making in any strategy. Stacey argues that Technical Rationality is decision making purely based on