Threat Of New Entrants - P & R

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Threat of new entrants – P&R • Brand loyalty / plumbers tend to find a brand and stick with it. • If plumbers do not have experience with P&R brand they may find it too risky to change. • P&R Brand awareness is low for consumers. This opens opportunities for new competitors. Bargaining power of suppliers – P&R • Power of suppliers is low • Manufacturing is done in-house at P&R Bargaining power of buyers – P&R • Plumbers – distrust innovation / they tend to stick to a certain brand / they recommend products to consumers / consumers trust plumbers. • Developers – are very much price orientated / many occasions don’t see the need for premium bathroom & kitchen taps. • Channel partners – Bought 1000 P&R taps and only sold 100 •…show more content…
2.3 – Produce a structured evaluation of the organisational strategic position To increase its market share new product development is key – to attract new consumers & clients. A good P&R brand awareness strategy would require the improvement of brand & consumer engagement with past, current and future clients. P&R Retargeting efforts • Retarget individuals with fundamental P&R brand awareness. • Retarget individuals who have previously visited the P&R website. • Possibly track users who have searched any of our product names. Prioritise P&R social media engagement • Build a ‘delightful’ P&R brand experience. • Improve customer engagement levels. • Assist customers in becoming loyal P&R brand followers. • Engage in a two-way conversation between past, present and future customers. Making social media engagements with P&R customers a priority would help the brand find loyal brand ambassadors who are keen in telling their vast social network about their favourite brand experience. With dedication and strategic targeting building a P&R awareness strategy can result in increased sales & market share. The brand and the products are unique in every sense; P&R have a strong British engineering foundation coupled with design & innovation which does produce the perfect mix. Bespoke handcrafted P&R tapware stand ahead of all its competitors, all P&R products are designed, engineered and manufactured here in the UK compared with other UK
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