Tactical Marketing Plan: There are three tactics per segment that will be implemented in order to achieve the business objectives planned for the two targeted segments of Peet’s Coffee and Tea. Through research and analysis of the data collected, the following tactics were put together.
The first tactic for the Grab ‘N Go segment is providing a complementary size upgrade for every five “check-ins” that an individual has. Check-ins are defined as making a purchase at Peet’s and scanning the app barcode to a scanner at the register. This tactic addresses conceptual strategies emphasized in class, such as the 4 P’s. Per our survey and focus group, Peet’s has been shown to be weak promotionally – especially in regards to their existing rewards program. Many current Peet’s customers are entirely unaware of this program and its advantages. For those who are aware, they say that the incentives are not as alluring as those offered by other coffee shops. While Peet’s currently offers a free drink after 15 check-ins, competitors may offer a
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However, Peet’s does not have a strong presence and no new brand recognition, which is converting into a challenge, especially among college students and individuals who work in job positions that limit their free time. With the technologically supported messaging strategy, Peet’s has the opportunity to generate an increase in media coverage and social media interaction about products and services Peet’s has to offer. Since the customer’s needs and preference changes over time, Peet’s ought to review its marketinting technique and integrate them to marketing campaigns to provide higher level of customer relevance creation levels, compared to the strategies of the possible
CASE STUDY: You are the marketing manager for a chain of home-ware stores in Brisbane called Houzit. The marketing plan for the 15 Houzit stores was developed over 12 months ago and you are actively engaged in implementing the strategies to achieve the marketing objectives. Specifically, you are instigating those marketing activities that meet the marketing objectives of a 12% market share (up from 11%) and an increase in sales by 8.5% over last year’s result. No expansion stores are planned during this phase of consolidation and on average the stores achieved $24,680 per week for the year.
For the business-level, Trader Joe’s adopted a differentiation focus strategy. According to our textbook with this strategy, Trader Joe’s seeks to differentiate in its target market. They rely on providing better service than broad-based competitors. Specifically, they focus on the special needs of the buyer in other segments (Dess, Page 159). Joe’s differentiates its self from other grocers by providing a unique shopping experience fortified with their private label goods and great service from their crew members.
6.4 Ethical Sourcing Howard Schultz to take a comprehensive approach to ethical sourcing, using responsible purchasing practices; farmer support; economic, social and environmental standards; industry collaboration and community development programs. The cornerstone of his approach is Coffee and Farmer Equity (C.A.F.E.) Practices, one of the coffee industry’s first sustainability standards of coffee.
The Industry demand has changed due to a shift in consumers’ attitudes towards healthier products. This placed Starbucks’ coffee culture at risk and threatened the company’s future. Starbucks has tailored their menu to include more organic and healthy product mixes, venturing into tea, bread and fresh juice products (Geereddy, n.d). Starbucks’ cornerstone product differentiation strategies and Human Resource Management are the main impacts to strategy formulation.
Competitive Situation In today’s competitive markets, organizations must remain proactive and innovative to fight off competitive to hold majority share of their respected market. For an organization to determine the degree of their competitive advantage and its sustainability, a look into their external analysis is required. This portion of the report will examine and analyze Tim Hortons Coffee and Bake Shop’s external environment vis-à-vis their internal strength and weaknesses to determine their competitive situation. This analysis will focus on Porter’s Five Forces to determine their competitive situation.
Segment 1 – Wal-Mart’s Revolutionary Power 1. How much was Wal-Mart’s sales figure quoted in the beginning of the segment? Wal-Mart recorded $256 Billion in sales and is the first company in the world to record such a figure on sales. 2. How many Americans stream into Wal-Mart on a weekly basis?
ADVANCED AND APPLIED BUSINESS RESEARCH Name: Muhammad Zubair Qureshi ERP: 12191 Section: MBA (Morning) Topic: WAC (Pillsbury Cookie) Submitted to: Dr. Huma Amir Date: 31-1-2016 EXECUTIVE SUMMARY This case tackles the research analysis that was conducted by General Mills Canada to understand the major factors in terms of variables of their target market in order to make a specific strategy to better the sales performance of the Pillsbury Refrigerated Baked Goods or “RBG”. This research highlights how the company was analyzing consumer preferences in accordance to taste usage and purchase intension for the RBG cookies.
Introduction Every business organization is using a marketing concept which is used as a tool to identify customer’s needs. And further try to meet them by making right decisions in line with customer’s needs. In line with meeting customer’s needs the ultimate goal of every business is to gain profit. That’s why they make use of different marketing strategies to meet not only the need of the customer but as well as the goal of the company. We know for a fact that marketing strategies comprises everything from developing a product, to introducing it to the market, to selling and improving it as the need of the target market changes.
The brand name of the Starbuck is popular are no longer depending on the quality of the coffee only, but also the customer service. A study shown that the turnover rate of employee at Starbuck was 65% which compare to the other national chain retailer with the average range of 150% to 400%. This indicates that Starbuck have a good work environment that allows them to retain employees and emphasized in term of the employee motivation. One of the motivation theory that Starbuck had been applied is the Maslow’s need hierarchy theory.
To decrease the complexity of the process, Starbucks has a set of suppliers that have specific locations to deliver their coffee beans to, allowing them to control the production. This is due to their highly-centralised processes that enables Starbucks to control their global networks. Another component of their value proposition is the service. The process of their customer service follows a pattern that is common to every Starbucks Coffee Shop in the world. This process helps them deliver their value proposition through four different and simple aspects which are to create the perfect product, to deliver this product in a short period of time, the caring product delivery and finally the adoption of effective problem-resolution procedure.
With the help of social media, the establishment has informed its clients of available products on the menu. In the process, a favorable relationship has been created between the company and its loyal clientele. For instance, the choice of Twitter, Facebook, Instagram, and email services allowed Senor Sisig’s to gain a competitive advantage over rivals in the highly competitive food truck sector (Kidera et al., 8). Based on the corporation’s key success factor, Senor Sisig has established a conducive relationship with customers, as manifested in high expansion rates. Improved customer relations are the foundation for supplementing the establishment’s truck
Strategic marketing is a broad and practical subject which included the concept of marketing subjects of previous semesters such as business marketing. The study of this subject has contributed to marketing knowledge in many ways, as well as it has strengthened my skills in application of marketing concepts. My knowledge was increased that I was able to develop a complete strategic marketing plan of not only on the part of marketing analysis or strategy of a product or service, but also the whole corporate plan. My skills and capabilities that were developed and integrated during lectures and tutorials include the analytical skills, coordination skills, presentation skills, organization skills, etc.
Literature review Advertising has become a form of communication and a great source for promoting services and products for any business in the whole market because of its broader impact. The main idea of an advertisement is to get the attention of the consumers, build up the product’s strong image in their mind and provide information to help the consumer to make a purchase decision. So, the central focus in today’s diverse global marketplace is the consumer. Companies exert a lot of effort to find out the best ingredients that should be in an effective advertising and identifying its influence on the consumer’s mind, so effective advertising should be considered as one of the most important tools that strongly affect and can change the consumer’s buying behavior. The research attempts to investigate the impact of effective advertising on the consumer’s buying behavior.
The initial Starbucks established in 1971, it set out to be a different kind of company. One that not only just passionately committed to world-class coffee and the rich tradition, but also the way they engage with customers and communities to do business responsibly. Today, Starbucks has become a great example of an iconic brand and operates worldwide. The brand has strengthened their consumer engagement with the use of digital marketing strategies. In this essay, the author… Technology has developed throughout the last decade at a great rate to make human’s lives more convenient.
While consumers can contact the companies at any time through their official websites, thanks to social media, companies are now able to contact the consumers at any time. This opportunity for communication can be advantageous for both consumers and marketers; for instance, consumers can announce their demands and grievances or marketers can get consumers’ opinions about their new products before their release into the