Threat Of New Entrants - P & R

998 WordsDec 6, 20154 Pages
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…
• 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 tapware brands who manufacture in China, Italy and Mexico. This is a unique quality in itself. P&R Product differentiation strategy This is known as a marketing strategy which would help P&R distinguish their product from similar offerings on the market. It would provide P&R products the advantage in the tapware market by larger companies. Here, P&R need to target a specific segment of the tap market and deliver a message that their product is positively different from all other tapware products available. • P&R product differentiation would create value • Non-price competition – focuses on the

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