Redbox – Marketing Plan U.S.A
Redbox – Marketing Plan U.S.A
1 Contents 1 Contents 1 2 Executive Summary 3 3 Introduction 3 4 Problem Statement 4 5 External Analysis 4 5.1 Marketing Segmentation 4 5.1.1 Geographic Segmentation 4 5.1.2 Demographic Segmentation 4 5.1.3 Pshychographic Segmentation 4 5.2 DESTEP analysis 5 5.2.1 Demography 5 5.2.2 Geographic 5 5.2.3 Economy 5 5.2.4 Political 5 5.2.5 Social 6 5.2.6 Technological 6 5.3 Competitors Analysis 6 6 Internal Analysis 7 6.1 Current Target Market 7 6.2 Current Positioning 7 6.3 Competitive Advantage 8 6.4 Current Marketing Mix 8 7 Strengths, Weaknesses, Opportunities and Threat Analysis 9 7.1 Strengths 9 7.2 Weaknesses 9 7.3 Opportunities 10 7.4 Threats
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It has set up its kiosks primarily in fast food restaurants, grocery stores and convenience stores as these locations are frequently visited by people, and the kiosk could create a direct impulse to the people who are passing by.
5.1.2 Demographic Segmentation
Redbox has not segmented its market by any demographic variable. With its kiosk located at routine place, it wishes to target the whole market, otherwise known as mass marketing.
5.1.3 Pshychographic Segmentation
Redbox also has segmented the market by behavioral Segmentation; it has placed its kiosk at location as they are frequently visited by the common mass. It has not placed its kiosks at museums or exhibition, as not many people go there on a regular basis. 5.2 DESTEP analysis
5.2.1 Demography
5.2.1.1 Millenials
For Redbox, the demography that belongs to their interest is the Millenials or otherwise known as Generation Y. This breed are born between 1977 and 2000, this category includes several age cohorts, tweens (aged 8-12), teens (13-18); and young adults (the twenty something). The junior Millenials are just at the initial stage to use their buying power. The senior Millennials have finished tertiary education (college, universities) and now making their entry in the workforce. One thing that all Millennials have in common is their creative dealing with computer,digital, and Internet technology.
5.2.2 Geographic
Locations which guarantee that the most potential customers as possible
Similarly, the growth in vending machines has found more people sidestepping the checkout line in favour of the kiosk.
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
BSkyB (Sky) should target acquiring 30% of the yearly revenue by 2018, after five years of systematic implementation of the extended marketing plan. The target markets of BSkyB are both individual citizens and small business enterprises, where the later will be at the centre in the targeting. BSkyB (Sky) is to segment the targeted markets geographically where the concentration will
Marketing is essential for every business, be it a small household business or a large multinational group. All businesses depend on marketing in one way or the other. Setting of goals according to entrepreneur’s visions marks the starting o f the plan. It is better to do proper research and documentation before launching a product in the market or else the results will not be according to one’s thinking. Raymond Morose is the owner of Pet Palace and has been running this business for the last 44 years (Manta, 2010). Raymond Morose is running the business with a small staff but is very clear about his goals, as he has set his goals according to SMART approach. SMART stands for specific, measurable, achievable, relevant, and time-based and
Blockbuster implemented a new strategy for customers to access their rentals in “five channels of distribution: in-store, by mail, through vending machines and kiosks, online, and at home (direct to the TV)” (DATAMONITOR, 2009). However, this strategy was a reactive approach to the problem produced ten years behind schedule. Wooldridge et al., (2007) stated that Blockbuster should select and adapt their strategy to respond to the fast changing market and maintain a competitive position. This was an obvious failure for Blockbuster. The changes in the market produced a decline in profit at a faster pace than the strategies that Blockbuster implemented to combat these losses.
Many businesses are implementing technology to combat wage increases and remain competitive. Many larger retailers, such as Walmart and Kroger, have effectively maintained self-checkouts for customers for years. The self-checkout area may have four to six registers, manned by one associate. Larger gas stations are implementing new technologies, as well. Quick Trip(QT) has installed a system that allows the user to order food and drink by touch screen, print a ticket and pay at the regular counter, eliminating the need for extra cashiers and registers. They serve a variety of items such as specialty coffees, smoothies, pretzels, pizza, sandwiches, ice cream and more with their user-friendly system. In addition, pay at the pump has provided relief at long lines of gas stations for years. Restaurants such as Wendy’s, McDonalds, and Panera bread are currently investing in kiosk to serve the future needs of their customers. Wendy’s will have 6,000 locations equipped with kiosk by the end of 2016. "With the pressure on wages and minimum wage increasing in some places, (restaurants) are motivated," said Bob Welcher, president of Restaurant Consultants Inc. "From an operational standpoint, I can see the advantages." Welcher also adds that “The kiosks are more precise. They always are courteous. They always show up to work on time." (Malone, JD. "Wendy's embraces self-order kiosks." Columbus Dispatch, The (OH) 17 May 2016: Newspaper Source. Web. 9 Dec. 2016.)
Blockbuster used to have so much power in the movie rental industry until Redbox and Netflix have come to the market. One of Porter’s five forces
Companies like Netflix that have been in the movie streaming industry for many years, and have a large portion of the market for streaming movies make it difficult to others to enter into the online movie rental industry. Netflix has already established a large library of movies and TV shows available for its members. It would take Redbox a number of years and resources in order to catch up with the infrastructure that Netflix already has available and ready for the consumer right now. Redbox would need to analize the opportunity cost of going into a new market or staying and investing in the current kiosks market and making sure that it is the best it can be.
Redbox is in the movie rental business via self service kiosks. Redbox is wholly owned subsidiary of Coinstar Inc.
Redbox is a great example of warehouse and transportation leader. Redbox offers DVD, Blu-Ray, and games in kiosks everywhere renting over a million discs from Redbox’s kiosks every day (Redbox, 2017). This company has the demand planning under control as they have more locations than McDonalds and Starbucks combined. That’s a lot of places. The production scheduling is right on target as the business offers most up to date movies and games. They have an agreement with Warner Bros the new release DVD and Blu-Ray titles available seven days after their retail sell-through date (Redbox, 2017). The lead time can be in minutes of requesting the item you want to rent. A customer may go online to find the nearest location, look for the disc
Redbox is an easy way to rent and watch DVDs, Blu-Ray Discs and Video Games via automated kiosk or electronic device based streaming video. Kiosks are located at select fast food restaurants, grocery stores and convenience stores. Each Redbox kiosk holds approximately 630 DVDs/Blu-ray Discs/Video Games. DVDs rent for $1.20 per day, Blu-ray discs at $1.50 per day
Looking at where the company is in the market place, the cinema exhibition business segment has reached maturity (Reading International, 2013). Reading International will be looking towards improving their current cinemas to achieve more growth as well as developing niche-type of cinemas in selected markets and also procuring additional properties that contain existing cinemas. The objective behind these strategies is to attract more customers. Currently, Reading International targets several key groups of consumers by running various promotions across each country; school children are targeted with the ‘Early Bird’ promotion, students are targeted with ‘Terrific Tuesday’, working professionals with ‘Friday Flicks’, couples with ‘Steer & Beer’ restaurant ‘combo’ deals, families with ‘Spit the Dummy’, elderly with senior discounts, and general movie enthusiasts can sign up for the ‘Reel Club’. It appears that these consumers have been segmented on the basis of demographic grouping. What Reading International needs to be aware of however, is that there is a whole new generation of consumers that will have an effect upon how Reding International’s customers should be grouped over the next couple of years. This generation is known as the Net-Generation (N-Gen), and should
Redbox uses automated retail kiosk that provides customers with access to DVD and game rentals 24 hours a day, providing unmatched services in the movie rental industry.
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.
The strong marketing strategy, which is the “buzz-marketing” strategy, which we have, is one of its main strengths because Red Bull is becoming a wide known brand all over the world.