3. The policy should be changed and this impact AAA to acquire more Wholesalers and grow their profit margin by allowing the label.
Orange Kingdom is a clothing retail store owned by Between, Inc. It is differentiated from its family brands such as Between and Old Marine, as it gives an upscale image compared to the other two brands, and targets young professional population aged mid twenties to mid thirties both men and women. It provides mid-scale work-to-play casual and business apparel, accessories, and shoes through about 500 stores including factory stores in the United States. It is also gaining market share in Asia, South America, and Europe as well. In this marketing proposal, I would like to discuss three service options to retain and acquire customers.
Competitive advantage - Nundies is an innovative product which provides an alternative to visible panty lines; no other company produces the same type of product
Jarek Wasielewski, education expert at ClickMeeting, agrees,“Tailoring content to specific market segments is all about personalized marketing. In today’s world where competition over a more informed consumer base has become tighter than ever, personalized marketing is often what defines greater lead generation and customer conversion.”
Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.
According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.
Target groups are divided into different groups base on the location and what is more abundant (“males or females”) that will give the highest profit to the company. Market segmentation is dividing the market in different groups for everyone but in different segment based on every individual’s needs. An example of a business that uses all of these techniques is Walmart that provide different products and satisfies the needs of individuals by dividing the store by segments base on peoples needs and also having their online
Top managers develop long-range plans, called strategic plans that define the company's overall mission and goals. Strategic planning focuses more on issues that affect the company's future survival and growth. To develop strategic plan, top managers also need information from outside the company, such as economic forecasts, technology trends, competitive threats, governmental issues and shareholder concerns.
• Market Segmenting- is known for targeting potential customers that are the best matches for services and products. This type of tool is important to businesses because it involves finding the different needs that exist with consumers. For example, some consumers prefer a fast paced environment while others are concerned with the space.
Data is an important component used by all technology and businesses to gain insights and refine their marketing techniques to improve customer experience. Through the use of data analysis companies can capture a large amount of data, and retrieve information regarding the company’s trends. In Richard’s case using data analytics allows him to gain better insights on customer behaviors, in which he was able to determine which factors influence a user to purchase the eReader early. These factors will allow the team to develop new business models and improve their marketing strategies to capture these individuals (“Big Data Analytics”, 2017). For example, if most of the early users are from California, it would be beneficial to promote the eReader
Customers are assets, and their values grow and decline. Segmenting customers based on their lifetime value is a powerful way to target them because marketing mix activities can then aim at enhancing customer value. (Ho, 2006)
“Customer analytics enables organizations and enterprises to make data-driven business decisions for direct marketing, site selection, and customer relationship management. The result is a 360-degree view of customers,” says Molly Galetto, vice president of marketing communications at NGDATA.
It is needed to analyze customer behavior and preference data. To generate the necessary data and understand customers’ preferences, Harrah’s had to mine the data.
Method: For the technology to be effective there is a need for an understanding of the values, attitudes and behavior of various customers, prospects and stakeholders in the marketing process. This will help the organization to focus on such areas as the effective retention and acquisition of business customers for its long-term benefits.