Unit 5 Written Assignment Marketing Management University of the People Instructor: Dr. Janie Hall. 3/05/2024 As a sales consultant for XYZ Tech Solutions, a local IT company catering to small and medium-sized businesses (SMBs), I will look into the company's background, major markets, and the compelling benefits of marketing its products and services. Additionally, I will outline the company's marketing strategy and recommend product-pricing strategies to maximize short and long-term profits. Analysis for Local Company: XYZ Tech Solutions. Background: The 'St
Quality assurance: The quality of your product is an essential part of your corporate strategy, the prime objective of being customer satisfaction. Quality means providing product and services that offer maximum benefits to the customers. As an original quality product, you need to strive for fulfilling the customer customer's quality requirements, enhance customer requirements, and continuously improve performance. Guarantees ; It is important to know that customer know exactly what customer expect from us as guarantees strives higher level of customer satisfaction . you need to offer competitive prices for the products so that the customer feel free to buy your products.
Slide 1- AACMES has five competitors in the footwear industry. Eshiney Shoes is one of them. This bar graph represents company’s regional average in internet market share. Eshiny Shoes has a significant market share in the internet market segment. They are the second market leader behind the Fashionable Laces.
The 4 main elements of AACE Quality Shoes’ marketing strategy are free shipping, S/Q, the use of advertising, and the use of the competitive pricing. Retail Price: We has setting our prices lower than our competitor in every region without affecting our style quality rating. For example, in year 14, our prices were $12 lower than our rival’s prices. Free Shipping: It has been a competitive key to increase our online sales.
The road to becoming a legitimate competitor has been tough, specifically because of the competitive nature that exists between firms in the same market. The market structure, determinants of supply and demand, and future outlook of the company can help us see the state and performance of Under Armour. Under Armour’s is an example of a monopolistic competition, meaning they have aspects of a perfect competition market structure, but their products are not the same as its competitors. As mentioned above, Under Armour’s main competition is both Nike and Adidas. Recently, Adidas has
Provision of products that are of high quality, enables an organization to develop and maintain customer satisfaction as they are pleased by the products that they purchase. A maintained customer satisfaction consequently enables a company to achieve on every essential aspect in customers known as customer loyalty. This therefore means that the organization is able to develop a market base with which it can conduct forecasts. It is for this reason that Starwood, should ensure that it has made a selection of the supplier that will be able to provide the best quality linens and
Due to internal reverse factor in the market is not growing so are the negative side. the internal factor is not in favor of the company due to fashion and change. Funding is also a major problem. Despite this talk about the external factor and here we can see that there are many competitors in the market otherwise. Example puma sneakers launch.
Starting as just a mail-order business with some retailers, it quickly opened new manufacturing facilities, starting with New England in the early 1980s as well as it signed contracts with other international distributors. While producing at lower costs outside the US, New Balance sold its shoes at a higher price than the average market and started to have huge sales anyways. Moreover, what makes New Balance’s operation strategy unique is that they offer their shoes in multiple widths and always have inventory in case the retailers get out of stock. This supports directly two of New Balance’s main competitive objectives being first that they want their customers to feel uniquely served by offering several widths of their shoes for different kind of feet and letting the customer not wait for the delivery of the shoes but always having inventory to push into the retail stores in case of scarcity. A good customer experience is one of their key competitive
It will be easily giving the consumer make the decision in short time when buy the Nike’s product without compare with other Nike retail. Weakness 1. High Prices Nike is a strong brand at the global market and it normally sells the product in the market with high price to get higher margins and profit value. However, many competitors cost of the footwear is lower than Nike in the market, particularly in emerging markets, this can give consumers get many choice about the footwear.
Simply put, Nike’s target market is mainly customers who have more concern for the quality and utility of the product than they have for the price at which the product is being sold. This helps to ensure that pricing never has to be adjusted downwards in attempts to woo in a larger number of customers. For any company to achieve success from the marketing strategies that it has put in place, it has to ensure that its strategy is flexible enough to keep up with the changing times and to also accommodate a large variety of customers. So as to do this, it is imperative that the products being produced by the company be innovative enough to exceed what is being provided by competitors in every possible way. Nike chose to take this into deep consideration and this resulted in it making a few changes on its marketing strategy.
Consequently, Nike’s pricing is intended to be economical and competitive to the other sport gear retailers. The pricing is built upon many factors that have been taken into consideration before setting a selling price on the root of the high-class segment as target customers. Nike as a brand orders high premiums. Nike’s pricing strategy makes use of perpendicular amalgamation in pricing in which they target participants with different channel levels or take part in more than one type of channel level operations. This can govern costs and effect product
If a company were to release only about 250 pairs of limited edition Sneakers and there are over 2 million consumers who holds interest in the Sneakers then more than likely the shoes will hold immense value then other variety of Sneaker. Rarity of sneakers can also be pre-determined by the aging of the sneakers as well which is a trait that most sneakerheads seek out when looking for shoes. In order for shoes to sell, the company’s are having to rely on three main factors such as, What brand released the shoe , Who advertises the shoe, And who are the target
One of their key strategies in meeting this goal is a focus on customer service in order to create an experience for its consumers. Another one of their strategies is to ignite their emotional attachment with consumers. They also have
NIKE The Factors that Led to Success and Failure of Nike in its Venture across International Markets Abishek TR* Abstract- Key words: INTRODUCTION The largest American suppliers of athletic shoes, apparel, and sports equipments .At the same point of time ,this company is known worldwide .The Success of this company is the result of the various strategies used in the international market expansion which helped them to enter into new markets and to strengthen its position in the traditional ones .
The strength of high price product strategy is that Nike can earn more on each single item. Also, it can ensure the quality of the products. The low-priced products policy could widen the customer group and attract more buyers to boost the sales. The weakness of selling premium is that only high-end buyers could afford to buy it.
