Introduction Research is a vital component in the success of any marketing strategy. Research provides insights into the creation and evolving changes to a marketing strategy. Over the last three years, Edible Arrangements’ top franchises in New York are showing a decline of five percent in both the consumer and business segments. As a means of boosting sales, it has been decided that a new product launching could help provide the increase needed. At the beginning of our research, it is necessary to scan the market, environment, economy, and competitor offerings around these stores to better understand what may be a contributing factors to the overall decline in sales before we introduce this new product line. Once the data is analyzed, then progress can be made to ensure what the best opportunities for success will be for our new product launching. Our research plan will provide input in finding new customers for existing products, uncover new market segments, and anticipate competitors’ moves when launching our new product line. Problem Definition In adequately researching any topic, the problem should be correctly identified. In this case, consistently declining sales and market shares to the tune of five percent per year for three consecutive years is the underlying situation. To help understand why we have a decrease in sales over the past three years in our New York franchises we have taken the time to ask the following questions while identifying the problem.
PetSmart is one of the largest specialty pet retailers of service and solutions for the lifetime of pets. More than 1008 stores are open in the United States and Canada that provide pet foods and supplies that are priced reasonably. PetSmart provides all types of services for pets including pet training, pet grooming, pet boarding and adoption services. In addition to providing impressive value PetSmart has the broadest, deepest product range in the industry, including thousands of products exclusive only to PetSmart. Every year PetSmart takes care of the grooming for hundreds of thousands of pets in what PetSmart calls its PetSmart Salons. These animals are groomed and pampered by stylist who have
3) Vacation Goers: This segment includes retired couples who love to travel. They want to look back on their great memories of traveling around the world. They have more free time than the other segments, so they can devote more time to putting together their scrapbooks. This segment 's age is between 50 and 70. Their income range is $50,000 and over.
In order to succeed, it is fundamental that businesses satisfy consumers’ needs (and desires) for goods and services. Appropriate market research provides the data necessary to understand those needs and respond to them effectively and profitably. Kudler Fine Foods (KFF) has performed market research in the past. Some of that research has been helpful; some has not. Additional market research is needed for KFF to reach a larger share of the market and increase profitability.
Kudler Fine Foods is the brain child of Kathy Kudler. She envisioned a one stop gourmet food store and has grown to three locations to date. She continues to maintain direct control over large bulk purchase order items, stringent customer service policies, and hiring. This paper discusses how the organization competes in the marketplace and the strengths and weaknesses of the company according to the marketing surveys their customers completed. The following also discusses which market structure best applies to the organization and how that structure positively and negatively affects the firm, how the effectiveness of the competitive strategies in the market structure affect the
Kudler Fine Foods benefits from market research in many ways; to star with the market research helps the company keep up with current market trends. Market research provides Kudler Fine Foods with a competitive advantage making them able to learn about the customer needs and requirements. Irrespective of whether the company is, starting a new branch or expanding an existing one, market research plays an immense role in ensuring that the company is able to understand sales in the market. Through market research, Kudler Fine Foods is able to identify prospective clients (Cohen, 1995). The identification of prospective clients starts by the company asking itself the following questions; who will be the users of their commodities, what is their age, what are their economic and educational status, among other factors that determine the production of the commodity.
Panera Bread is one of the great American success stories of breaking trends, and shaking up the market with complete innovation. Not only were they successful, but they were able to achieve this success while doing things their own way. Product and Service differentiation were the keys to this bakery-café's success. Before Panera Bread's creation in ___, never had a business combined the relaxing environment of a café with the fresh aroma of an artisan's bakery. This proved to be a gold mine for its owner and stakeholders, and the analysis of this period from 2001 to 2003 shows exactly why. In this analysis, we will examine the success
Kudler Fine Foods is a remarkable small business that has a solid business model. In just a few years' time, the company has been able to expand their operations to new retail locations as well as expanding the model to offer catering services as well. Despite the initial success Kudler has achieved, the expansion of the business will dictate that the company reevaluates their market position. There are many tools that can be used to help the company determine how to best manage the expansion and a detailed market research product should be performed. However, this analysis will serve as the basis in which further research will be conducted. The 4 P analysis will be performed and is generally a well-suited foundation for further research.
3. Current trends in the food industry markets such as technological breakthroughs, shifting customer tastes, and globalization demand that all food firms should keep improving to avoid lagging behind. Therefore, what should Sample6 do, as a new player in the food industry, to remain competitive and successful?
For this project we choose to focus on two restaurants: Panera Bread Company and Cosi Incorporated. These two restaurants operate in the casual restaurant segment of the eating and drinking places (SIC 5812) industry. This industry is comprised of over 670,000 businesses with most, 98%, having less than $5M in annual revenue. Our choices are part of a much smaller subgroup within this industry of companies with over $50M in annual sales for FY13, Panera with $2,385M and Cosi with $86.33M. While both compete with each other for customers, other players in their industry include YUM Brands, Taco Bell, Red Lobster, and Chipotle. Both of our selected businesses operate in similar environments with Panera’s annual report specifying a
Daryl Buckmeister was facing a difficult problem that many business owners encounter. After much success, his quick-service chicken restaurant, The Chicken Coop, was seeing a sales decline in 20 of The Coop’s 76 stores. The average decline in sales for these 20 stores was 6%. His top two managers, Anita McMichael, VP of Quality and Trevor Wallace, VP of Marketing, were working with Buckmeister to figure out why customers weren’t spending as much money in those stores and to determine the best way to correct this problem. There were three key parts to Buckmeister’s decision: (1) should he invest in market research, and if so, (2) how much money
The purpose of this paper is to study the Panera Bread Company, and do a case analysis based upon the reading’s from the book Marketing Management: Knowledge And Skills, Eleventh Edition by Donnelly, and Peter (2013), and The 5 C’s and Strategic Marketing Basics (2013) due Oct, 22 2013 for the (MKT 6013) Market Management class at the TACOM campus of Lawrence Technological University, MI. This case involves the study of the Panera Bread company, which is a highly successful company competing for
There are over 1.1 million men and woman amateur and pro bodybuilders alone in the United States. The IFBB has competitors age ranges from as young as 16 years to as old as 83 within a range categories for competition, The NutiBullet Pro is a necessary tool to assist the competitors in preparing for competitions fulfilling a need for a quick, convenient and easy way for bodybuilders to create their protein shakes, whey smoothies or one of their required 6 to 7 meals a day.
Subway Sandwich, as presented in the Case Study presented in the Marketing Management MGT 551 class, is an undisputed market leader in a segment that is “firmly established as a nationwide food item for which there is plenty of room in all areas” (University of Phoenix, 2008). However, with a growing competition, changing consumer trends and increased product specialization, Subway’s real strategic marketing challenge is to be able to develop and maintain a differential advantage while sustaining sales growths and profitability.
Abacus management objective is to have strong market presence. In order to accomplish this we chose to focus on large, highly competitive segments, as well as geographic markets which were in the middle of the cost/size continuum, with the goal to build a market position and defend it as we strive to take the lead and keep it. The company 's overall corporate strategy was to offer customers quality products at an affordable price. Keeping that in mind, we have chosen a strategy that will focus on keeping our material and manufacturing costs low. In turn we will be able to compete with the other companies in the microcomputer industry on the basis of cost.
Boutique hotel is a niche market started in North America and the United Kingdom to describe the modern and luxurious design along with quirky hotel environments (Olga, 2009 as cited in Khosravi, Malek, & Ekiz, 2014)