The grocery retail industry across America has always tended to involve healthy competition among the various firms in it. (1) Identify the various business competitors in this industry across any geographical location of your choice (County, City , or State ). (2) Determine the respective market shares of each of the largest THREE retail companies in this industry across your chosen geographical location. (3) Analyze the future marketing prospects facing the three industry leaders you identified in Question 2. (4) Provide a strategic planning dossier that identifies new market segments for the three industry leaders you identified in Question 2 .
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- Select a market or product category for study. Whether it’s a market in which the firm already competes, a new but related market or product category, or a totally new market, the overall market or product category should be clearly defined. Choose a basis or bases for segmenting the market: There are no foolproof procedures for selecting segmentation variables, but the segmentation scheme must produce segments that meet the four essential criteria discussed earlier in this chapter (substantiality, identifiability, and measurability, accessibility, and responsiveness). Select segmentation descriptors: Segmentation bases need to be clarified with descriptors to identify the specific segmentation variables to use. For example, if a company selects demographics as a basis of segmentation, it may use age, occupation, income, or some combination of these as descriptors. Profile and analyze segments: The purpose of this step is to determine the segments’ size, expected growth, purchase…In this week’s topic, the chapter covered customer loyalty and how it weaves into the 8 Ps marketing mix. To practice this concept, select your favorite vacation spot. Select 2 Ps from the 8 Ps marketing mix. For each, identify and briefly describe one marketing strategy idea that would support a marketing campaign for your favorite vacation spot. Brainstorm 1 to 2 ways you can promote customer loyalty and encourage tourists to return.Marketing is defined by the American Marketing Association as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large1.” If you read the definition closely, you see that there are four activities, or components, of marketing: 1. Creating. The process of collaborating with suppliers and customers to create offerings that have value. 2. Communicating. Broadly, describing those offerings, as well as learning from customers. 3. Delivering. Getting those offerings to the consumer in a way that optimizes value. 4. Exchanging. Trading value for those offerings. When a company uses exchanging and communicating as their marketing activities. What are they trying to do? What do you think are their objectives? Who are the activities or messages targeted to?
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- In this activity you are presented with an excerpt from a manager’s meeting discussing segments in the smart phone market. Your task is to firstly determine what market segments you can identify (both from the information below and your own knowledge)? And then, based on this information, which target market would you select for the firm? From the Manager’s Meeting Natalia: As we all know, the company wants to enter the huge smart phone market. We have been a significant player in the electronic and entertainment market for many years and senior management has decided that now is the right time to grab a share of this market. Therefore, the main purpose of today’s meeting is to outline the various segments in this market in order to gain some understanding of the best target market for us. So who has some ideas about the various segments? Bianca: Obviously, Apple has made the smart phone a fashion statement – there’s clearly a segment that are attracted to the fact that it is a…Imagine yourself as Business Development Manager in ABC and your task is to create new business strategies for your products and increase sales volume and diverse customer portfolio. Before you start, we would like to give some information about our current customer portfolio as follows: Customer Segment Percentage of segment Revenue Stream High-end / Michelin Restaurants 37% 50% Mid to High Restaurants 43% 34% Cafes / Small Restaurants 20% 16% Table shows our customer distribution by percentage of each segment and share of each segment in total revenue. Questions: (a) How would you increase sales among current customer portfolio (aka chefs/restaurants)? Which group of chefs/restaurants would you focus and why? Which channels would you use to reach your prospective customer and sell your products to them? (b) Remember your idea for new target group suggested by you in previous case, in which platforms or places would you sell your products among your…1. Choose a specific e-commerce website catering to tourism and hospitality.2. Describe their offerings (products and services).3. Describe the features and contents of the site.4. Is their website user-friendly to consumers? Why or why not?5. Give recommendations to further improve their relationship with customers
- At the last Linking the Concepts, you segmented the U.S. footwear market. and select two companies that serve the footwear market. Describe their segmentation and targeting strategies. Can you come up with a company that targets many different segments versus another that focuses on only one or a few segments?GIVE THE FOLLOWING: Coffee Shop Marketing Plan 1. Competition- this section identifies key competitors, describes their market positions, and provides an overview of their strategies. 2. Critical Issues 3. Strategies- product, price distribution (place), promotionMarketing Questions 1. The task of designing, collecting, analyzing and reporting, known as ________ is intended to define marketing problems or opportunities. 2. The buyer’s willingness and ability to buy along, buyer’s consideration to alternative brands, and their income are determinants of _______. 3. A _____ is designed to avoid direct competition of larger companies pursuing the bigger segments. 4. A(n)_____________________ attempts to maintain a strong position in its core product-market(s) but also seeks to expand into new (often closely) related markets. 5. The analysis of how consumer perceive one’s brand in comparison to the competition is known as ______. 6. Companies that establish formal policies and guidelines to ensure that the messages communicated to the customer reflect their unique values and competencies are creating a ____________________________. 7. The rate at which an innovative new product category passes through the _________________________ is…