Plan of action What actions are available to the organization? Making online purchase more comfortable for the old customers and and user-friendly to new customers. This project is proposed to make the online purchase easier to the customers. It also a solution for the Returns and Refund issue the company is now facing. Catch the attention of new customers in many different ways Partner with arab influencers to help promote the organization Sponsor events and open kiosk in exhibits to expose the product of the quality Push in Social Media platforms Have a good communication and create relationship with the
Relationship with the customers can be used positively to continuous customer retention and to increase repeat purchases. Stay with future challenges of new technology The truth is customers put attractiveness before efficiency and this puts the company at a risk of consumers moving to other websites provided it is similarly useful as Zappos.com. Zappos has to take initiatives to redesign its websites to be more user-friendly and attractive. In overall, Zappos will stay on the market with the given
• Specialist in marketing expertise – When you have an expert in marketingthen you can develop a marketing strategy quite easily. He/she will have the required experience to form strategies based on experience. This is a massive boost when doing a SWOT analysis in marketing. • Introducing something new – What better way to capture the market than providing newer products? If your firm can come up with new ideas, then your marketing strategy will be based on innovation and novelty.
3.4.1 Benefits of brand extension According to (K. Mundt, J. Dawes, and B. Sharp. , 2006) the most important aspect of a successful brand extension is the ability to have the current users of the brand in one category adopting the new launched product in a different category. Brand extension is an attempt, in part, to exploit the loyalty to the parent brand and to supposedly lower the company’s risk of new product failure. 3.4.2 Limitations of brand extension
This will establish the company as a partner and will help win repeat business. • Cross-selling and Up-selling Technoxander Consulting has a perfect mix for success as it will offer consulting services along with a Predictive Analytics product - SentiGauge. The company will penetrate the market by selling consulting services but will be on the look-out for opportunities where the company’s product ‘SentiGauge’ can be implemented. This mix of services and product will establish continued engagement with the client base. • Niche skill
However, BabbaCo’s business model is based on a strong network effect which falls to the winner-take-all industries. Therefore, upon weighing the pros and cons of the recommendations, BabbaCo. may want to consider the short-term strategy as the immediate action to increase repeat sales. They should validate their business model as soon as possible to scale their business to be the market leader through extending product lines and penetrating a widening market.
We can also build our own specialized sales team to prospect and close deals directly with customers. • Customer relationships Customer relationship management is a system for managing a company's interactions with current and upcoming customers. It often includes using technology to establish, mechanise and coordinate sales, marketing, customer service, and technical support. The CRM Strategy Customer relationship management is often thought of as a business strategy that enables businesses to improve in a size of areas. The CRM strategy will allow the following : - Understand the customer - Retain customers through better customer experience - Attract new customers - Win new clients and contracts - Increase profitably - Decrease customer management costs The Benefits of
Prices: How we can price our products in such a way that the clients are happy to be loyal? Place: What alternative distribution channels are out there for the clients to experience and buy out products? Promotion: How we can develop our promotions campaigns in such a way that our brand will be more visible and enhance brand
Revolutionizing the technology of QR codes, Loylap enables small and medium sized businesses to connect to their customers on a better engagement level. It enables an omni-channel marketing strategy as a reward mechanism for the brands, as well as offers an increase in repeat purchases by smartly tapping on the financial benefits for the consumers. Businesses that need to stabilize their position in their marketplace, need a loyalty system. There are variety of loyalty systems that Loylap uses: Cash Back Loyalty System Loylap enables businesses to give back a percentage to your customers in the form of credit for your business. This enables businesses to compete at price wars in the market among their competitors, and users a reason to stay with the brand.
• To provide a comfortable ambiance and convenient setting to its customers. • The ability to keep on innovating and adding new elements be it products or marketing of the business so that the business grows. Key Strategies: These are implemented to achieve the goals and objectives of the business. Currently we have identified that Chai Baithak focuses on two major strategies: Differentiation: This is all about building loyalty of the customers by offering them something different to them. Chai Baithak aims to do exactly this by offering them a concept that is relatively new in the market.