Unit 4 Explain The Four Types Of Consumer Offerings

1.1 Explain how different methods of promoting products and/or services impact on customer service delivery

- Internet and catalog shopping offers services for consumers out of the comfort of their own homes

In this piece of marketing course work I am going to explain how to produce a marketing strategy for a new or existing product. I will explain how my strategy is based on the principles of marketing. I aim to use primary and secondary resources to help me to analyse the marketing context. I will then explain how to develop a product that meets my target customer’s needs.

In a day of, “I want it now and I’m willing to pay for it,” a shopping center has to offer a variety of stores, and also have several options. The shoe shopper will go to the place with 5 shoe stores before they go to the place with only 1. They may not realize that of the 5 available shoe stores; only 1 is in their price range, but satisfying a wider variety of consumers will help the mall broaden the shopper’s experience. But it is important to remember that shoppers are price sensitive, so not only do you need a variety of stores offering a variety of products, but you also need to be able to provide a variety of price points so you don’t limit your shopper demographics.

An offering consists of the benefits or satisfaction provided to target markets by an organization. It consists of a tangible product or service (a physical entity) plus related services (delivery and setup), brand name(s), warranties or guarantees, and packaging. Focusing on the term offering rather than just the product or service forces the marketer to go beyond the single tangible entity being marketed and to consider the entire offering, or extended product or service. When the focus is on the benefits and satisfaction offered it establishes a conceptual framework. Marketers can then potentially use this framework to analyze competing offerings, identify

These refer to the limitations and restrictions that may prevent a business or organisation from certain actions. (Mrs Atkins)

We promote the products and services in our stores through direct mail advertising, radio, television and secondary print media advertisements. Our advertisements emphasize such features as product and name brand selection, prompt delivery and the absence of initial deposits, credit investigations or long-term obligations (Martin, 2015).

Nordstrom’s product selection is probably the store’s most effective method of distinguishing itself from its competitors. The comprehensive categories of goods which the store supplies offers the initial disparateness from most other retailers in the market. Many stores offer a specific category of goods, such as food with grocery stores. Other retailers, such as Target or Walmart, offer a wide variety goods. Nordstrom’s has established itself as a retailer of clothing, shoes, and accessories. This over-all summation of the store

1.1: Internal customers are people within the organisation or partners you also provide your services to. External customers are people outside the organisation that purchase your products/services.

Retailers offer different merchandise assortments to the customers, and one of the key functions of the retailer is selecting the appropriate depth and breadth of various branded products and their assortments, and to decide how best to tailor the product offerings for specific target consumers (Joachim Zentes, Dirk Morschett, Hanna Schramm-Klein, 2007). One drawback, which we have identified, is the lack of customization options available for customers on all three of the websites, i.e. Target, Macy’s and Nordstrom. It is important for online retailers to offer customization offers to the customers, so that they can tailor make their products as their very own. While it is true, that this option is mostly used for niche markets, however, in

This store Target has a perceptual selection by a number of individuals who are concerned with shopping online and to make orders with a purpose might change their requirements they are incumbent to make use of with a meaning understood on the professional retail store world where making of deals is simplistic and done when a need comes by.

In addition, a huge benefit of shopping online is that it allows product and specification comparison so you can purchase what you need and pay less. Online stores have a lower overhead than the traditional stores offering better deals, and the consumer is able to find the product they want at a better price. In traditional brick-and-mortar stores, sales have limited quantities at hand, but online stores are able to keep a bigger inventory giving online shoppers more opportunities to find a bargain. In fact, shopping at several stores at the same time guarantees the consumer the best deal. Shopping online is simple, and finding the right product is easier. If you are shopping for a digital camera at the store it might be a little overwhelming to see the camera selection with so many specifications. Sales representatives can sometimes be misleading in an effort to make the sale. Online side-by-side product comparison will allow the consumer to

A market leader is a brand, product, or a firm that has the largest percentage of total sales in terms of revenue (the market share) of a market. A market leader often dominates all his competitors in areas such as: customer loyalty, distribution coverage, image, perceived value, price, profit, and promotional spending. To be the leader in the market, the company needs to be innovative, agile, revolutionary, obsessive and supportive.

The offering subsection is where the details of the offering are laid out. These details include the intended benefits, features, bundled services, warrantees, and any other support such as technical training. (Tanner, 2015, p. 346) Any combination of these features and services can be combined and utilized to create value for a specific consumer base. The definition of the offering should be provided for each customer segment outlined in the market section. Businesses should put forth considerable effort to define the offering for the simple fact that each section of the organization that will work on the product will consult the marketing plan for the details.

There are many different types of products out there many of which have the same or offer similar functionality to each other. The differences in these products can include price, quality, functionality, and whether it is new or used. There are different types of shoppers that are attracted to different types of products. The differences between these products can increase or decrease the appeal of these products to different types of shoppers. These different types of shoppers include bargain hunters or retail-only buyers. When buying items such as groceries, textbooks, and cars bargain hunters will attempt to save money by purchasing on sale or used items, conversely, retail-only shoppers may choose to purchase items they believe to be better products or they do not wish to spend the time required to seek out the best deal.