Marketing mix for a retailer specializing in catering parties held at consumers home or office locations

Document Type:Thesis

Subject Area:Engineering

Document 1

Below is such a matrix for a retail business specializing in catering at home and office parties. The mix is inclusive of a positioning strategy and identifies the target market in question. Product The business in question specializes in catering services. The services are rather exclusive as they mainly focus on home parties and office parties. Catering, as the main service offered by the business, can, therefore, be described as the product of the business. The services are Price The retailer catering business applies the law of 2nd-degree price discrimination in its marketing mix (Khan, 99). In this sense, prices are always different depending on the nature of the client and the nature of services required. This means that an order from a party of 20 people is not charged the same as an order of 25 people. Budgeting is a prime consideration. Place The business has an office and a store where booking and storing of business effects are done. The business offers services anywhere within the city and the outskirts and suburbs. The main targeted market for the business is mainly large organizations which constantly hold parties. Other casual parties such as family gatherings and weddings also make up part of the targeted markets. Promotions Promotions and discounts are one of the main aspects of marketing of the business. Regular clients receive discounts of 10% after making the 5th order onwards. Additionally, referrals are highly appreciated in that they result in discounts too. Promotions are very important for the positioning strategy of the business, as they result in the retailer being viewed as a user-friendly and appreciative service provider.

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Describe the concept of marketing myopia, and give an example of a company who experienced marketing myopia. Myopia is a rather short-sighted and inward looking approach towards marketing that mostly focuses on the interests of the company rather than the company’s products in terms of the customer’s interests, needs and wants. If not carefully addressed, in most cases myopia may lead to an organization’s downfall as it assumes a rather conservative decision-making process which hinders adjustment to changes in the markets. A). what are some of the benefits of having a satisfied customer? (List at least 3) In other words, why and how does it make sense of economic sense to have satisfied customers? i) Customer satisfaction is a factor that ensures that an organization stands out in the market.

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It gives an organization a competitive advantage. ii) Customer satisfaction is the key to building long-term, solid relationships with customers. Businesses with return customers are always more successful. In fact, businesses with many return customers are always the best in terms of customer satisfaction. Explain how the role of marketing would change as a computer manufacturer evolves from the production concept to the selling concept and ultimately to the societal marketing concept. The production concept generally dictates that customers always prefer products that are widely inexpensive and readily available. Therefore, in the case of a computer manufacturer, the marketing concept at the production level should focus towards producing low cost and highly efficient computers (Slater, 53). This is due to the nature of this concept which suggests that consumers are primarily interested in low prices and product availability.

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Classify each SBU according to the BCG matrix. If you want, you may draw a diagram). In a BCG matrix, ‘stars’ are considered as the prospects of a business which have the best market share and a high growth rate (Torquati et al. Stars generally consume a lot of cash, and this may result in a situation whereby the amount that comes in is the same as the amount that is spent. In the presented scenario, tablets, with a market share of 75% and a high growth rate can be considered to be ‘stars’. Based on your classification, for which SBU’s do you recommend investment? Where should this investment come from? Explain your answers. Based on the analysis above, it would be best for the company to invest in laptops, tablets and cell phones.

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As ‘cash cows’, laptops have a great potential in the company courtesy of their market share. In order to maintain the productivity, investment is important. As ‘stars’, tablets are a very crucial part of the company. Khan, Muhammad Tariq. The concept of'marketing mix and its elements (a conceptual review paper).  International journal of information, business, and management 6. Slater, Stanley P. The Tasks of Strategic Market Management: The Role of Marketing.

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