Solution for case: Smith’s Home Foods.
Question One
Smith’s Country Ham has been operating for 25 years in North Carolina in the wholesale food division, targeting restaurants and fast food chains. In order to increase turnover and therefore revenue, Smith’s decides to introduce a new product line: Smith’s Home Food. A product line containing 11 packages sold to households and including all kinds of foods: meat, vegetables, fruits etc. lasting for a period of 4 months. The prices of these packages range from $655 to $1532 ($1000 on average). These packages require a freezer and thus Smith provided the sale of freezers for customers that didn’t own any. Also, it is highly important to mention that Smith gave all its customers the
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Strengths, Weaknesses Threats and Opportunity Analyses; The company is the corporation’s question mark performer and has the potential of becoming a star performer given the limited competition in the market. The company has the advantage of the parent corporation’s 25-year-old positive reputation as a local family owned business known for the quality of their products. The strategy of the company’s in the market involving a poor marketing mix strategy, a poor integrated marketing communication strategic plan and service strategy with no experience. There is no evidence of feedback mechanism to insure customer satisfaction or to encourage company loyalty through sustained company-customer relationships. Company has no local competition and the company has an opportunity to establish itself as the market leader nicher for the product that is offering. Threats to company are also numerous. Business can damage the reputation of the parent corp. The company has too much financial liability for contrasts that are not honored by customers. Objectives and Issues;
The company does not have a sure mission and is engaged in the wrong type of marketing philosophy. The company need develop a mission.
The company does not have a power evidence information system. This is virtually taking shots in the dark and hoping to hits
The company’s products are not selling in the market even after making several changes and reforms in the operation process i.e. experiencing difficulty in gaining traction in the market.
With a company that has been around over a century the strategies it uses change an develop with the society. Since they had begun they have rapidly grown, within the first 30 years of their business
The business problem with the company had a company focus on customers with large investment, they manages money for pensions, governments, and other entities worldwide. They also manage money for wealthy individuals and engage in private equity investments. This business plan keeps them focus on few profitable customers but bring them a negative result of low brand reorganization. This business strategy works for a long time and bring them abundant profit, but it face challenge now since competition constantly increasing and profit margin is under pressure.
Although the brand is among the leaders within this segment, it has lost its position in the overall market due to the emergence of low-cost competitors and a change in its target customer base. Lacking financial and human resources, the brand has not been able
The marketing strategy had some fundamental flaws in areas such as targeting, pricing and adapting to the various social and cultural landscapes as stated below;
ABC Food is an up-and-coming fast food restaurant. The company has received a shipment of inventory consisting of meat patties and chicken wings yesterday. The new shipment of inventory is worth $3,000 and is expected to last the company for at least a month, moments after the inventory is received the restaurant experiences a power outage. The backup generators are not working either. In addition to the $3,000 in new inventory the restaurant has $1000 in pre-existing perishable food items. It is now 15 hours after the power has gone out and the freezers are beginning to defrost. The restaurant owner informs the manager that the public service cannot predict when the power will be turned on due to a generator malfunction which can take anywhere from a few more hours to a day or two to rectify. The owner states that if the power is restored within the next 24 hours that they can resume service as usual because they cannot afford to replace $4000 worth of inventory without risking failure.
Opportunities include huge market, no competition for at least three years, potential huge margin, good marketing strategy.
With any industry, there are many challenges within a company and some that are unbearable, but workable to achieve. Many companies, if not all want to be able to bring in the most revenues, profit, ROE, and have an image rating that will portray consumers to keep coming back and purchasing their products, their products are also reflected in the stock market and how the company is doing financially. If a company cannot distribute within their goals and objectives on customer demands, the company may be at the
Here the company under consideration is “Toy R US”. This company facing few major current issues which are effecting the PR of the company as well as effecting the business of the company. Toy R US is a famous brand which makes toys for the kids, it has branches in many countries which makes it an international company. This company made its strong market position in just a decade, before that this was not much famous among customers. Company’s mission is about providing affordable toys all over the world so those
3. ·Lack of interest in the Brand Stewardship: employees feel that the new Vison is a loss of time for them. “If it helps to get new business, that’s great, but why are you in my office talking about this? I have a dead line to meet and I don’t see what this has to do with creating advertising”. The importance of the Brand Stewardship has to be communicated to employees.
This article has been produced to outline the analysis’ and strategies used within marketing, which should be adopted within the organisation in order for it to have a successful Marketing strategy.
Following their strategy in other countries, the company should contract entrepreneurs highly motivated and give them exclusivity in their area and autonomy.
He created the company from scratch and found a niche market for the company early in his career i.e. grocery chains. Mike’s daughter is currently assisting him in the business and he wants her to lead in the future. However, in the current state, Dukat refrigeration has limited opportunity for ensuring a successful future. A major strength of the company in its current state is its single client, i.e. IDC grocery chain, but it will have the potential to become a major weakness in the future if the company lost their business. The biggest strength of the company is its owner who has built a formidable reputation in the market for delivering quality products within budget and on-time. Although the company has a strong reputation and extensive experience in construction and service of old refrigeration systems, a major weakness is that it is lacking in knowledge and experience with the latest technology. In order to ensure a successful future for the company and his daughter, the first thing mike should do is diversify his client base. Mike’s daughter possesses the technical knowledge and strong people skills necessary to make an effective leader in the organization. However, her skills and knowledge may not be fully utilized if they have only a single client. The company should make every effort to acquire a new customer and from the data available in the case, “Linkee’s” seems
In recent years, market has become more complex that there are many different kinds of companies appeared. Moreover, the competition between these companies in marketing has become more intense. Practice effective marketing strategies is very important for most of the companies who want to be successful and to become leaders in marketing. Strategy is part of marketing techniques that combine all the market goals which are the company needs to make a completed plan in order to increase sales and maintain customers (Bennie, 2016). Marketing strategies have been extensively studied in the marketing area. For example, marketing strategy was discussed in by Robert Morello who has an extensive business background in marketing area. As for the