CMG continues to compete side by side these big/small business by standing by what they have always pride themselves in and that?s the quality food, cultural impact, tasty food, brand name, fast service, better pricing and consumer services (McGrath, 2013) CMG has many resources to help them remain competitive. They?re strategy to this is simple, they focus their time and energy to satisfying the customers and keeping them as a priority as opposed to making their competitors. Another resource they have available is the 1700 locations they have. This ensure that they are able to reach out to every customer they possible can. CMG intends to promote the significant Mexican culture in offering its products.
• Furthermore, reshaping the current strategy with consumer ideas will help redirect Discover. In other words making use of the data collected through surveys or phone calls from customers, will help the company to keep its current customers and even to gain new customers. CONS: • The process of collecting data for the new strategies would not be immediate. For example, gathering sufficient customer feedback regarding a new service would take months. Therefore, the process of pooling ideas for a new strategy would take time.
This kind of strategy can draw many possibilities such that they can release a new line of sneakers if they have one or they can add another product that is under their name. In having an effective marketing campaign, the consumer’s ideas is the main factor for this to be successful. It should be updated and it must be on the trending spot for the certain year and they should be consistent for this so their customers will stick to their brands. Product Development Strategies Launch a sneaker fashion
. How would you assess the business model of HCG? Compare HCG’s cancer care model with other international cancer-care models using case information and your secondary research. Where do you think lies HCG’s strength and weaknesses relative to these international cancer care models? Highlight the differences and similarities between the HCG business model and that of Aravind, Narayana Hrudalaya, Fortis & Apollo?
• focus on low cost and differentiation strategy • reduce the upstream of supply cost • company should focus and change on the target market i.e. price sensitive and organic-health oriented market • marketing strategies should be applied more to the European market where people are more organic-food oriented • price-skimming strategy can be applied • value-base pricing can also be used • varied service can be opened like the online ordering and store-events • private label meat and seafood offerings can be increased Conclusion In this way John Mackey has proved the "leading by example" theory by incorporating the best practices and lesson learned. The company also focuses on the friendly and team-based environment and relates their mission and vision coherently so as to achieve their objectives. So by applying the above mentioned recommendations and future strategies the company can overcome its concern over the growing demand and supply and lack of resources. References Chairez, S. (2013, April 26).
Modifying a product in the existing market by changing its outlook, improving both its quality and performance, will create a more appealing product in the market (Maria, Grandinetti, & Bernardo, 2012, p. 73). This will attract more customers into buying the product, therefore, increasing the company’s sales. Apart from that, market development is another marketing strategy in the Ansoff matrix. This involves the company venturing into new markets to increase its client base. Opening up different branches at different locations will enable the company to reach new customers in areas that the product was not available.
However, when the new brand or exist brand pack in different way with others, this will attract some of the consumers to take a look or buy it. This make the consumers to choose another brand to get a new favor and taste. They only assess the product after consuming. The marketing strategy is to target in different category of age towards the product. The powerful firms use lower prices, deals, packaging, coupons, free testing and advertisements to promote their product so that the firm’s products can compete in the market.
4.4 Pricing Strategy For a number of reasons, price is one of the most important aspects of an effective marketing strategy (Gerstein & Friedman, 2015). First, price is the only marketing variable that generates revenue. Second, buyers see price as an attribute of value (Tanner & Raymond, n.d.). Consequently, an organization must carefully assess its internal and external environment to choose the most effective pricing objective, which—in turn—will drive a product’s initial pricing strategy. To remain profitable and provide value, Dyson should align its pricing objectives and initial pricing strategy with the firm’s mission and target consumers.
Creating a pricing strategy makes use of vertical integration when evaluating trends and knowing how to price products. Nike has become so well known that most people will pay more for quality and popular products. They also decide which items they need to go above and beyond to promote or advertise, these typically would include newly released products or products that are trending at the time. Next, company retailers will have to work with each individual store associates to create a store layout that is appealing to customers from that area in the location. For example, a store in North Dakota or Maine isn’t going to display sandals year round like Florida or California might.
This would be efficient since the company in question does not expect stiff competition until a year or two has passed which means that it will be able to make make profit since th prices are higher even thought the sales volume may not be impacted greatly. Another reason for the appropriateness of this strategy would be because the company's product is based on the emotions which in this case is that its a trending product. The product with such features is also currently being offered only by this company which holds a patent on its technology hence creating its shortage in the niche market. The pricing of the company's product through value- based strategy