MARKET AND PRODUCT OBJECTIVES Deli Yoghurt is a new yoghurt brand that is just picking up and building up its brand name. The organization intends to build its corporate reputation through aggressive marketing in its environs and beyond. They intend to use the customer base they build to tap into other avenues for maximizing their revenues. Deli Yoghurt is taking a critical look at the two major sections as the focal points of developing and building their customer base, they are The CURRENT MARKET they presently operate in, and the NEW MARKET they intend to operate in. CURRENT MARKET: Current markets will be built and increased by expanding the brand and flavor distribution at the retail level.
According to Abas (2015), “Business Intelligence (BI) can be defined as the transformation of raw data into meaningful metrics reflective upon historical, current and predictive business operations and performance” (para. 1). In this case, CKE’s BIS known as CPR or CKE performance reporting adds value to the business by providing an overview of how well its products are impacting sales and profits based on other factors such as menu mixes, costs, average unit volumes and the store. In this case, the management found that the Monster Thickburger was responsible for the notorious increase on sales, so they used this information to implement strategic moves that could improve business operations and growth. CKE developed a marketing strategy that increased sales even more.
Continuous increase in the saturation and competition in the UK food industry seems to be an opportunity for Campbell. The food chain can turn this competition into opportunity through innovative food items and quality service. The current economic crisis in the world market makes the British food products affordable for EU and other markets (Thomas,
According to Growing a company by international acquisition (n.d.) there are two major ways of growing a business: organic or inorganic. The decision which one is the best solution for a given company depends on the market, trends and the resources of the company. In most cases organic growth is constant and an ongoing process while the inorganic growth happens when the company decides to widen its options. Organic growth happens when a company is using its own resources, opportunities and advantages to improve profitability. Usually this happens by one or more combined: - Expanding sales (inbound, outbound) activities to reach more customers - New product launch to increase market share - Marketing activities
Product Development. McDonald’s uses product development as a supporting strategy for growth. In applying this growth strategy, McDonald’s develops new products over time, such as new McCafé products. These new products may be variations of existing products, or entirely new products. The strategic objective for this strategy is to capture more consumers by attracting them to new products.
This may involve promotion of the product, creation of an extensive distribution process to reach a wider consumer area, and putting attractive pricing to lure more customers into purchasing the company’s products. Coming up with innovative ways of increasing the usage of the product will also, help a company improve its sales in an established market (Maria, Grandinetti, & Bernardo, 2012, p.
The food industry is expected to grow rapidly in the future due to improving lifestyle and rapid urbanization (“Global Fast Food Market”, 2017). With this potential demand created, KHC can easily capitalize the growing foodservice industry and tailor their products to the specific demographic (Bhasin, 2018). Another strong resource KHC can utilize is focusing on nutritious products. As the foodservice industry continues to grow, KHC should further explore on expanding its product portfolio to include healthier options. Natural and organic brands, as well, as small labels buying from local farms, have become an essential part of the consumer lifestyle (Tarkan, 2015).
Market Development focuses on increasing the sales for an existent product by introducing it into new markets. This strategy is often used by the companies which plan to expand globally, by adding new characteristics to the existing products, according to the consumer’s needs. Big companies like Addidas and Nike followed the market development strategy to expand internationally by offering the same product. 4. Diversifying strategy focus on the development of the business by introducing new products to the new markets.
a. Organic Growth: is an expansion strategy whereby demand for existing business is increased through strategies that create an increase in the market demand for the existing product or a new market in the same or different geographical region. Some companies capitalize on various macro-economic indicators in different countries to expand their existing products or services. Also, favorable treaties, legislation or agreements between or among nations can also give existing companies opportunity to expand into other countries
DIPLOMA BUSINESS MANAGEMENT (LEVEL 7) BUS762: CORPORATE STRATEGY AND PLANNING SUMITTED TO: KEVIN CLARK PREPRED BY: ARTI PATEL CIB0000379 Q.1 A. Following 7 strategies zealong can used and achieve higher growth. 1. “Existing product to existing customer”: To rise the growth of sales in existing market or customer base on improving product or service quality, features, quantity, packaging style, and customer services etc. To increasing potential sales existing customer zealong has to improve their quality, product variety, packaging style, supply chain etc.