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Purpose:
Tweeter etc. founded by CEO Sandy Bloomberg in 1972, is a specialty retail store of middle and high end audio and video consumer electronics. Between the years 1991 to 1996, it expanded from a 13-store chain with $ 35 million annual sales to a 21-store chain with $ 82 million in annual sales. To sustain its market share amongst the highly price-focused competitors of New England in USA, the company had adopted 3 major promotional strategies. Unfortunately, Tweeter’s long-nurtured consumer image as a highly specialized and expensive retail outlet still remained unchanged, and the company was forced to formulate the “Three Pronged Attack” strategy in 1993. However, the refined
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Their advertising slogans should change to ‘Get the best deal out of it’ from ‘We don’t carry all the brands, only the ones that count’.
Action Plan:
Changing an already built positioning is not very easy to change. The perception in people’s minds can be overdrawn by using i. New TVC and radio ads (like the new Blackberry ad) ii. Interesting outdoor & print ads.
c. Outdoor Advertising:
Rather than spending intensely in print, radio and television advertisements, Tweeter should allocate a portion (25%) of their marketing budget in outdoor advertisements in the localities where they have their stores.
Tweeter should go for outdoor advertising because i) its customers are people living nearby their stores and ii) it is easier to inform them by these outdoor advertisements and it is cheaper. However, they have to use the broadcast and print media as well (50% of total marketing budget)
Action Plan:
These outdoor advertisements can be in the form of: i. Advertisements in bus stations and also on the sides of buses. ii. Selectively putting billboards in places of high exposure (in squares and busy roads) iii. In front of shopping carts in big grocery retail stores. iv. In subway terminals.
d. Controlled Sale Promotion:
Rather than abandoning the sale strategy Tweeter should introduce sale promotion in a controlled manner. i. There can be a quarterly sale offer but the
The best form of advertising would be through TV as a lot of their target audience will be watching TV especially as its related to
Their message to consumers is “its so soft” and they have promoted this message from the beginning
The promotionPromotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The pace and creativity of some promotional activities are almost alien to normal business activities.The cost associated with promotion or advertising goods and services often represents a size-able proportion of the overall cost of producing an item. However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organization to develop and build up a succession of messages and can be extremely cost-effective.
Target’s business-level strategy is one that does not strictly focus entirely on one plan to gain a competitive advantage over competition. It encompasses various strategic and meticulous planning and decision making that is implemented in order to position the company at the top of the retail industry. With competition from the likes of Wal-Mart, Sam’s Club, and Costco, Target uses several clever and “out-of-the-box” ideas to attract consumer attention and ultimately increase market share within the industry. Most of the company’s ideas centered more on the differentiation of products and services provided to customers than lowering prices. For quite some time, the company’s plan was to not compete head-to-head with Wal-Mart in terms of lowering prices but instead to provide their customers, who they identify as “guests”, with a special experience every time they visited a Target location. One idea that was implemented was to market and sell upscale, trendy clothing and unique merchandise at discounted prices.1 This strategy, known as the “cheap-chic” strategy, focused on providing good quality clothing from various well known designers and fancy products from high-profile manufacturers for prices lower than their competition. This plan was vital because it began essentially began the concept of customers referring to Target as “Tar-zhay” which according to Patrick Barwise and Sean Meehan, who are university professors, as a “connote its trendy sensibility”. Target
The fast food industry has grown over the past years, and now a new type of food service has arise in the form of gas stations. Wawa and Sheetz are these new dominators, who strive on providing quick service and great food. Since these are success stories, other gas stations have tried to replicate these companies but have not struck the consumer as much as Wawa and Sheetz. The consumer fanbase for each company is extreme. Fans of Wawa have been known to get the logo tattooed on their biceps, and fans of Sheetz call themselves “sheetzfreaks” and sometimes linger on the vicinity into the early morning hours. Both of these companies have excelled and this paper aims to examine why this has occurred, particularly examining the PR practices of
Marketing and promotion: The aggressive marketing and promotion is strength to the company from several years. It has implemented many successful advertising and promotional strategies over the time which includes new format of UK stores “Brighter look”, “Your M&S” slogan, “Quality worth every penny” etc.
The aim of this paper is to provide an insight into Hollister Co.’s marketing communications and assess whether it successfully targets my demographic of young, male recent college graduates. The paper will first introduce Hollister and provide a brief company history as well as outlining the challenges in reaching out to consumers such as myself who differ from the brand’s intended targets. It will then segue to discussing Hollister’s position within the market and any outlying challenges the brand has navigated through.
From October 3, 2013 to October 6, 2013, Wegmans posted 84 tweets. Excepted tweets that responding to its followers, it only posted 11 tweets, all of which were retweeted below ten times. The low retweet efficiency shows that Wegmans failed to
So far APP has been successful as a retention and acquisition strategy. From 1992 to 1996 Tweeter 's core customer market share has grown from 19.6% to 25.2% (Appendix 8 Tweeter). By contrast with the exception of Circuit city (Appendix 10 Circuit city) over the same period the market share for this class of customer has increased by a smaller percentage (Appendix 9 Lechmere) or actually declined (Appendix 11 Other retailers). Since Tweeter has retained its customers and acquired more customers over the years I would say the strategy is applicable and successful for both functions.
At 4:30 p.m. on December 6, 2010, Meredith Collins, VP of Marketing for Reed Supermarkets, walked down the sidewalk of the 10-store strip mall that housed Reed’s Westgate Plaza branch in Columbus, Ohio. Collins didn’t shop; instead she took mental notes about store traffic, first at the Reed store and then at an indirect but increasingly worrisome kind of competitor—a dollar store. The Reed was predictably well lit and inviting, and Collins could see three registers open and two or three customers in line at each. “Not too bad” she thought, “but not what I would hope for at this time of day, this close to the holidays.” She’d felt the same way at two other Reeds
The overall marketing communications campaign is analogous to a war. The many battles within the campaign are the communications mix elements or geographical areas targeted. For example the advertising campaign is a series of advertisements, and the activities that help produce them, which are designed to acieve interrelated goal.
This book report discusses the best seller nonfiction book, “The Tipping Point” by Malcolm Gladwell. This book is an interesting read to understand the science of epidemics in all areas of life. The author various examples to elaborates as to how small actions at the right time, in the right and with the right people can create a tipping point for a product/service. For instance, Hush Puppies ‘tipped’ in 1993, when a few fashion-forward hipsters from Soho New York started wearing the failing brand again. A chain reaction was triggered through this small event, which cascaded though the US increasing sales and creating a word of mouth epidemic. Gladwell explains three point plan of how any brand
Tweeter should continue with its current Marketing strategy based on APP policy and Every-day Fair pricing. Their target customer is the Quality/Service oriented and they should focus on retaining their loyalty. The shift from having continuous Sales Events to fair pricing and price protection has been proven successful as same store sales have increased, new stores have delivered consistent sales and total marketing expense has not increased as a % of Sales. Also profitability of the company has gone back to positive numbers as a result of the new pricing strategy. By not entering the Sale events, Tweeter will
The company’s corporate motto, “Low price with meaning,” grabs their assurance to offering tasteful, intelligently designed products that does not always make the customers feel cheap.
He had a large amount of financial investment in an innovation to be sold and the first time around he did not succeed or come anywhere close to the prelaunch boast found in Time magazine. The magazine has a quote claiming the SHT would be the quickest product to reach $1 billion in sales after its launch. Mr. Kamen has begun to make moves with new hires, but he needs to step away and let professionals sell his product at a successful rate, as he has done with previous inventions. The value of professional marketers adjusting the marketing mix variables of price, promotion, place and product, for the SHT will surely be realized quickly with a noticeable boost in sales. One example of adjusting the marketing mix by these executives would be with price. The SHT could be “relaunched” at a new lower price (i.e.: $2,200). This new strategy would make the SHT a more attractive and realistic buy to the average consumer.