Advertising is the number one factor when communicating to customers informing them about the brands available and the variety of products offered to them (MSG.com). Although the company AllStar leads the market in OTC cold and allergy, better advertisements can help the company to gain an even greater percentage of its market segment. Focusing on advertisement, the MMT will also work with the companies direct and indirect sales force to ensure that the brand gets eye-catching placement on
Indeed, the retail industry improve their business by learning consumers habit. And consumers feel happy with their rewards because of their shopping habit. Therefore, some people will refute the claim "The surveillance of consumers by retail anthropologist is manipulative and unethical".
These tools mostly used for spreading the awarenes of the new products, enhancing the recall of the brand but mostly for increasing the number of sales as the company needs profits to survive in the long term. The report have deeply looked at the communication tools in practice when the creative strategy for the new Cadbury product was set. The paper analysed in what situation it is better to use advertising, PR or direct marketing for the Cadbury brand, therefore the advantages and disadvantages of the tools were found. For example, it has been identified that advertising is one of the useful tool for brand promotion because it is able to reach a wider audience within the shortest possible time frame (Egan, 2007. P 194).
The manufacturer of the product will contract out the production of the product to another organization to produce the product on their behalf. Clearly contracting out saves the organization
This cycle repeats until both companies have phenomenal products. This not only helps the companies, but it also helps the economy. No matter how one looks at it, there is ultimately no negative side effects. Competition will always separate the willing from the weak. When people play
implement premium pricing strategy which set the price based on the quality of footwear. In this case, Nike able to set higher prices than its rivals as Nike product quality is well-known. For the customer perspective, the high quality product is worth for the higher prices. Hence, it has lead to customer willing to pay higher price for the Nike footwear.
They are responsible for retail store tracking, bringing in new inventory based on consumer demand, creating sound financial plans that reduce company spending, and increase overall profit (Bordelon). Since the main goal of a Merchandise Planner is customer satisfaction their job can be best described as “being a liaison between the customer and the marketing and buying department, ensuring what the customer wants is available” (Bordelon). They review forecasts, use past performance to make projections, make recommendations for promotional markdowns, and manage inventory to maximize profitability. Additionally, merchandise planners research market trends to increase create more attractive
It notes that stiff competition can reduce the potential profit of like companies. Firms must determine the strategy that will be utilized to gain and maintain the upper hand in the industry, as it relates to price, marketing, competition and the introduction of new and innovative products into the market. The more a company senses competition the intensity of its strategy may increase as it does not only respond to other firms, but also to the industry as a whole. It is natural for firms to respond to competitive moves made by its rival as it will have an effect albeit positive or negative on the industry. Firms may be forced to supply the demands for cheaper but more reliable products or to create differentiated products to maintain the competitive
Competitors: PUMA, K-Swiss Inc., LaCrosse Footwear, Inc., Dick 's Sporting Goods, Inc., New Balance Athletic Shoe and Adidas – (Adidas have currently branched out into customization of footwear products. To sustain its competitive advantage over competitors, Nike has to take this to consideration). However, a large number of competitors in an industry usually indicates lots of demand for the products or services provided and this will help Nike to succeed in the long run. Suppliers: Nike outsources almost all of its footwear production to independent third party suppliers. As Nike has a minor control over quality of the products.
Their target customers are young people in all kinds of education levels, religions, race and nationality. The occupation of their target customers could be very wide but mainly are sports player and athletics. It is because athletics are more rapidly to use sports products than other people. Their target customers are from different generations: Generation X, Generation Y. Psychographic Their target customers are people who care more about the utility and quality of the product than the price.
This market need to understand that the future consumer behaviors are towards a faster, convenient and on the go shopping. Department stores may start offering its customers not only a get and pay transaction, but offer them an experience of an ideal purchase environment and creating a new way to see its brand loyalty to differentiate from its greatest rival, the e-commerce. For instance, Target is offering its REDcard for clients to see more value and more benefits when they purchase at their stores. By doing this, they are increasing its customers witch of cost. Others are offering price comparison apps, so customers can access to the store prices and their competitors to show them the best deals.