Written by Miles Media on May 7, Posted in Small Business Marketing. Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Introduction The purpose of this essay is to analyse how the elements of marketing mix: Tag Heuer is a Swiss manufacturing company founded in that design and sell watches and other accessories.
The brand Tag Heuer is associated with prestige, precision and performance, with the mission to promote sporting culture heritage. Marketing mix kudler fine foods report will firstly identify the target market and the criteria used for the segmentation.
Following the understanding of the target market and market segmentation, this essay will then analyse the driving buyer behaviour. Being in the market, Tag Heuer needs to deal with the competitors, therefore identifying the key competitors and their market positions is very important to view if the positioning of Tag Heuer is competitive enough.
Analysis on the positioning of Tag Heuer will be on the follow aspects: Tag Heuer adopts demographic segmentation when identifying the target customers.
In addition, it is also the effort of Tag Heuer to make to attract the customers, who have been highly educated and are taking important responsibilities in their jobs with high income.
Another important criteria that the target group of Tag Heuer has is being open to the outside word and are able to accept the innovative brand from Switzerland.
Sports people that like gold or racing players are also the target customers of Tag Heuer. The target customers should pay attention to details and refinement, like the combined style of tradition and modernity and understand the quality and value in the products developed by Tag Heuer.
Actually Tag Heuer owns different lines of products and each line is designed to target a specific market. The marketing campaign of Tag Heuer is developed to reflect the characteristics of the segment. First of all, the spirit of sports shapes the advertising and events.
Secondly, it promotes that people should not crack under pressure. All the elements in the marketing campaign are shown in accordance to the target market segment.
Analysis of customers' behaviour 3. According to Hoyer and MacInniscustomers' motivation, ability and opportunity to make decisions is determined the effort in making consumption decision.
Motivation of customers is usually influence by the personal relevance of information, risk anticipation and the customers' attitudes towards the product or brands. As it is shown in the customer segmentation part, the target customers are those with decent jobs and income, the investment that they put on a watch and accessory has the value to make subtle statement of their social status.
By buying a product from Tag Heuer, customers bear the aim to be able to become a connoisseur that pays attention to quality and sporty lifestyle. The risk that customers of Tag Heuer might need to take is the financial risks considering that the price is high.
Information and knowledge is now considered to be an important factor that influences customers' purchase decisions. Therefore the ability of customers of Tag Heuer is also considered to be high.
When it comes to opportunity, it indicates if the customers have the opportunity to acquire the watch. It is concluded that the motivation, ability and opportunity of the target customers of Tag Heuer are high.
The high motivation, ability and opportunity usually result in objective-oriented behaviour, high-effort information processing and high level of involvement with the brand.
As it is discussed above, high motivation, ability and opportunity of the segment usually lead to high level of involvement to Tag Heuer. The high task-orientation characteristic is also contributing to high level of involvement of the customers. The consumer decision-making process starts with the need recognition step.
Customers identify their need for an item and in the same time developed their ideal status on the products, which might be different from the actual status.
The discrepancy on how products are perceived and how they are actually understood might be differentThe company plans to use the in store parties and cooking classes to expand the social network, and as higher income levels shop at the stores, appropriate and respectful promotions should increase as well (Kudler Fine Foods Portal, Sales and .
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(Kerin, , p) In this paper I will explain the value of three pieces of marketing research, the components of marketing mix for Kudler new catering service, far as their product, place, price, and promotions.
The Holy Bible: King James Version. Revelation 2. The Message to Ephesus: 1: Unto the angel of the church of Ephesus write; These things saith he that holdeth the seven stars in his right hand, who walketh in the midst of the seven golden candlesticks.