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Ähnlich wie Niche Market & Customer Involvement GRADED (KFF), Sharif, Wk 3 - MKT-431
Ähnlich wie Niche Market & Customer Involvement GRADED (KFF), Sharif, Wk 3 - MKT-431 (20)
Niche Market & Customer Involvement GRADED (KFF), Sharif, Wk 3 - MKT-431
- 1. Sharif Mustafa MKT/431 June, 23, 2014 Prof. Ernie Wake
- 2. What Matters in Marketing? What do I Need, and where’s the best place to get it ?
- 3. Capturing Importance: Shift From product to co-created solutions & experiences: don’t presume you can understand me don’t try to capture me captivate and engage me! From promotion to communication within communities: I want interconnected interactions with like-minded others. not information.
- 4. Shift: Continued From price to customizable personal value I am not a cost-to-serve or one of many There are many vendors to choose from Why should I choose your company? From place to choice and convenience I am here; why are you not? Time and accessibility are important to me
- 5. Customer Insight Solicitation For Current Store Locations: Incentivized Surveys In-store, at POS Online, via Kudler Website, and Social Media For Prospected Store Locations: Low to No-cost Surveys Near Competitors’ area of business: foot traffic Near prospected area
- 6. Showing Resolve (USP) Customer “Insight at work” Bulletin Boards (per store) Can be hand-written/Painted Can be conveyed on a digital LED screen Can be communicated Online, per location. Exceptional products/Customer Opinion-driven Service Consistently proves level of value place on our customers Helps KFF maintain relevance in the changing markets Builds customer camaraderie in/outside of store.
- 7. Potential Target Market Niche Walnut Creek, Ca. / La Jolla, Ca. Male Population: 46.2% (48.8 %) Female Population: 53.8% (51.2 %) Median Income: $76,522 ($84,428) Avg. P.P. Household: 2.09 2.95 Avg. Home Price: $857,136 $840,951
- 8. Things Change as People Do Resulting from the “Insight at Work” (IAW) Initiative 1). Products being offered / Seasons of availability 2). Price Ranges considered reasonable by customers 3). Store add-ons and spatial considerations 4). IAW panel members and order of process 5). Other items of developing customer interest.
- 9. References Et al (2011) eCampus.Phoenix.edu: Business / Kudler2 Retrieved from: https://ecampus.phoenix.edu/ secure/aapd/cist/vop/Business/Kudler… WCCCBD (2008) WalnutCreek.org: Community Profile / Demographic Information Retrieved from: http://www.walnut- creek.org/about/community profile/demographic _information.asp Et al (2009) Rethinking Marketing: Entrepreneurial Imperative Retrieved from: https://newclassroom3.phoenix.edu/Classroom/#/ -contextid/OSIRIS...
Hinweis der Redaktion
- In short, marketers must act as servers of customers rather than suppliers of products. In this blurring of roles between customer and company in which the customer’s view of value trumps the marketer’s perception of brand or customer value, marketing’s sole purpose becomes one of value creation for the customer—no other stakeholders come first. How can this be achieved? By engaging the customer, by creating meaning, by making the seemingly impossible possible. (Rethinking Marketing, Ch. 2) The next slide will outline how this harmonious relationship – between customer and company -- is brought about for Kudler Fine Foods (KFF).
- (Rethinking Marketing, Ch. 2). In order for a company to thrive in the new customer-controlled market, Kudler Fine Foods must change how we react -- to the business we receive (patronage) – and to the insight we are afforded. This occurs through the active solicitation of customer feedback at every possible interval of the customer experience. History suggests that people who live certain lifestyles, often share similar interests – and sometimes choice of product or service brands.
- People choose relationships because they serve a purpose in their lives. As such, one may be able to agree that an intimate or business relationship is unlikely to be founded on nonexclusive terms. Meaning, If I choose you to be my significant other, I expect you to treat me as though I am significant or special (exclusive); in doing so, I expect you to do some things for me that you will not do for others in my position (in my personal or business life). The same relationship concept applies for to a customer choosing which company to patronize. Some marketing elements are more important to some customers, than others; however, time and on-demand accessibility are generally important to all customers.
- Since Kudler Fine Foods is an in-person experience, In-person surveys will not only give the surveyor more intricate insight, it will also aid in brand image, as personal interaction shows that the company has cut no corners in seeking out and obtaining the customer’s opinion on needs and wants (BusinessWeek.com, 2007).
- People do not appreciate being ignored or giving opinion that is not taken into consideration; so we will SHOW our customers’ what their aggregate quarterly-evaluated insights (from surveys, discussions, etc) are evolving into, by showing in-store and online status updates on new customer-driven Initiatives.
- Surveying (as mentioned on Slide #5) in addition to readily available local government census information, can act as the foundation on which valuable customer insight is built. Compiled from demographically similar (to Kudler’s current location, such as La Jolla, CA.) consumers, we can theoretically begin to triangulate the most promising geographical location of our next store, and the estimated profits therein (based on population, income, gender, age, beliefs, and other refined characteristics of Kudler’s targeted customer base). For instance, Kudler could start by the online profiling of a city’s demographics that are most similar to its current customer base, as exhibited by the side by side comparison of the two cities above (La Jolla, Ca., being the current store location, and Walnut Creek, Ca., being the promising potential target Niche Market). (Walnut Creek.org, Phoenix.edu).
- ***TEACHER’S FEEDBACK & GRADE: Sharif Great job with the 9-slide presentation on niche marketing and customer involvement for Kudler Foods. I think your presentation does a nice job representing the uniqueness of their service. You have included speaker notes for each slide. Your presentation explained the following: Potential target market niches for your selected organization USP strategies involving customer input that could be used by the organization At least three things that could be changed or added based on customer feedback I do not return Power Points, simply because there are not many places to make comments on the slides. Visually I thought your presentation was excellent. 15 – 0 errors = 15 Points earned