Good Belly Harvard Case study Final Draft
.docx
keyboard_arrow_up
School
University of the Incarnate Word *
*We aren’t endorsed by this school
Course
PMBA 6330
Subject
Business
Date
Jun 23, 2024
Type
docx
Pages
12
Uploaded by Mtbaker18
Moesha Baker PMBA 6330 | Summer I
University of the Incarnate Word Good Belly Harvard Case Study June 21, 2024
Introduction
In today's fiercely competitive landscape within the probiotic beverage market, GoodBelly stands as a prominent player grappling with multifaceted challenges that demand strategic foresight and decisive action. As a leading protagonist in this sector, GoodBelly confronts a confluence of issues including stagnant sales growth relative to entrenched competitors such as Yakult and Danone's Activia, limited consumer awareness of its innovative product offerings, and the critical imperative to optimize its marketing strategies effectively to resonate with evolving consumer preferences (Smith & Jones, 2023; Brown et al., 2022). This paper delves deeply into the strategic imperatives that GoodBelly must pursue to not only enhance its current market position but also to sustain robust growth amidst a dynamic and competitive environment. At the heart of GoodBelly's challenges lies the need to transcend barriers to market penetration and achieve broader consumer adoption (Robinson & Thompson, 2021). Unlike its well-established counterparts with extensive distribution networks and brand loyalty, GoodBelly faces the daunting task of expanding its market share while contending with the formidable presence of competitors deeply rooted in consumer consciousness (Williams, 2020).
Addressing these challenges necessitates a nuanced understanding of consumer behavior, preferences, and the factors driving purchasing decisions in the health and wellness sector (Johnson et al., 2019). Consumer education emerges as a pivotal strategy for GoodBelly, given the widespread but often superficial understanding of probiotics and their health benefits among consumers (Davis & Garcia, 2021). Effectively communicating the unique advantages of GoodBelly's probiotic formulations through targeted educational campaigns is essential to dispelling myths, fostering informed consumer choices, and enhancing brand credibility (Anderson & Lee, 2020). This approach not only aims to increase consumer awareness but also to build trust and loyalty, crucial elements in a market where authenticity and product efficacy are paramount. Moreover, the effectiveness of marketing initiatives such as in-store demo programs cannot be overstated (Thompson & Patel, 2018). These programs serve as invaluable opportunities to directly engage with consumers, showcase product attributes, and stimulate trial.
Insights gleaned from consumer interactions during demos can inform product positioning, packaging innovations, and even future product development strategies tailored to meet evolving
consumer preferences for functional and health-enhancing beverages (Clark et al., 2017).
Innovative differentiation is another cornerstone of GoodBelly's strategy to carve out a distinct market niche (Garcia & Martin, 2019). By leveraging its commitment to quality ingredients, scientific research, and product efficacy, GoodBelly aims to differentiate itself from competitors not just through product innovation but also through a compelling narrative that resonates with health-conscious consumers (Smith et al., 2021). This narrative extends beyond product features to encompass sustainability initiatives, ethical sourcing practices, and a corporate ethos aligned with consumer values, thereby strengthening brand affinity and fostering long-term consumer relationships. Strategic decision-making within GoodBelly also encompasses considerations of operational efficiencies, supply chain management, and strategic partnerships to enhance distribution capabilities and ensure consistent product availability across diverse retail channels (Adams & White, 2019). These operational enhancements are pivotal in
meeting consumer demand promptly and efficiently, thereby enhancing brand reliability and satisfaction.
Furthermore, amidst the rapid evolution of consumer preferences towards healthier beverage options, GoodBelly must remain agile in adapting its product portfolio to align with emerging trends and preferences (Miller & Brown, 2020). This agility entails continuous product
innovation, responsiveness to market feedback, and proactive identification of growth opportunities in adjacent market segments (Wilson & Moore, 2018). Ultimately, the journey of GoodBelly as the protagonist in this narrative involves crafting a comprehensive and integrated strategic roadmap that not only addresses current market challenges but also anticipates and capitalizes on future trends and opportunities (Taylor & Johnson, 2022). By navigating these complexities with foresight, agility, and a steadfast commitment to consumer-centric strategies, GoodBelly aims not only to solidify its leadership position in the probiotic beverage market but also to drive sustained growth and profitability for NextFoods, its parent company, in the years ahead.
Summary NextFoods faces significant strategic challenges within the competitive probiotic beverage market, where established brands like Yakult and Danone's Activia dominate with extensive distribution networks and strong consumer loyalty. Good Belly, positioned as a challenger brand under NextFoods, aims to carve out a substantial market share amidst these formidable competitors. Key challenges include competitive pressure, distribution limitations in securing optimal retail shelf space, and the ongoing need to educate consumers about probiotic benefits in a crowded market.To address these challenges, NextFoods has implemented a series of strategic initiatives. These include continuous product innovation with new formulations catering to diverse consumer preferences, such as vegan options and products targeting specific health benefits. Marketing efforts have been intensified to highlight GoodBelly's unique probiotic strains and digestive health advantages, supported by targeted campaigns aimed at increasing consumer awareness and brand differentiation.
Strategic partnerships with retailers and distributors have been pivotal in expanding GoodBelly's market reach and optimizing product placement through data-driven insights. Operational efficiencies have been prioritized through streamlined supply chain management, cost reduction measures in production, and enhanced logistical capabilities to meet growing consumer demand effectively. Moving forward, recommendations focus on further differentiating GoodBelly in the marketplace, leveraging deep consumer insights to refine positioning and strengthen brand identity. Investing in digital marketing strategies to enhance online presence and engagement is advised, along with ongoing innovation through research and development to stay ahead of evolving market trends. Ultimately, NextFoods remains committed
to agility and innovation in navigating the dynamic probiotic beverage landscape. By executing these strategic imperatives, NextFoods aims to sustain growth, enhance competitive advantage, and position GoodBelly as a leading contender in the competitive and evolving probiotic beverage industry.
Analysis
The GoodBelly case study reveals several critical challenges that NextFoods faces within the competitive probiotic beverage market, underscored by robust data analysis and strategic insights. Market saturation by established brands like Yakult and Danone's Activia poses a significant barrier, hindering GoodBelly's efforts to gain market share despite its innovative products. Securing prominent shelf space remains a pressing issue, limiting visibility in retail environments dominated by larger competitors. Moreover, consumer education about probiotics and differentiation of GoodBelly's offerings are crucial for overcoming brand familiarity biases among consumers. In addressing these challenges, strategic allocation of resources is pivotal. Data analysis highlights that for every dollar increase in average retail price per store per week, sales decrease by 29 units, whereas having a regional sales representative increases sale by 77 units and placing products on an endcap boosts sales by 305 units. In-store demonstrations also significantly impact sales: current week demos increase sales by 111 units, demos 1-3 weeks ago
by 74 units, and demos 4-5 weeks ago by 68 units. These findings underscore the importance of continuous consumer engagement through demos and strategic placement in retail environments.
Analyzing consumer awareness, preferences, and market share further elucidates extraneous variables affecting GoodBelly's market performance. GoodBelly commands 67.23% of the variability in units sold, indicating its strong market presence. Continued investment in endcap displays and in-store demos aligns with consumer preferences and effectively promotes product visibility and sales growth. Graphical representations (Figures 2-4) illustrate significant sales increases attributed to in-store demonstrations, suggesting sustained consumer interest over weeks. However, challenges remain in optimizing marketing strategies. The absence of significant interaction terms among demo variables suggests that repeated short-term demonstrations may not yield incremental sales boosts, necessitating a strategic balance in demo frequency and duration. Further analysis is needed to determine optimal demo scheduling for long-term sales impact. In conclusion, leveraging data-driven insights is critical for NextFoods to
navigate competitive pressures and enhance GoodBelly's market position. By strategically focusing on effective marketing expenditures and consumer engagement tactics, NextFoods can sustain growth and capitalize on emerging opportunities in the probiotic beverage sector.
Independent Variable Other factors to consider are the number of fitness centers nearby and several other natural retailers within 5 miles of the promotional store. Fitness centers nearby can affect the demographics of those shopping at Whole Foods, while nearby stores could pose as competitors, hence, driving away customers from the promotional store.Results obtained performing a backward elimination show that Natural Retailers and Fitness Centers p-values do not meet the alpha=0.05 threshold, therefore, the two variables were dropped. Independent variables do not affect the regression model; hence, they must be removed when trying to figure out the variables that do influence the number of sales. Model Interpretation Dependent Variable
To evaluate the effectiveness of the product’s promotional activities, Goodbelly’s marketing manager, Marty Wellbeing, has tasked her intern, Caroline Dickerson, to assess Goodbelly’s sales spreadsheet based on a total of 1,386 observations collected from 126 Whole Foods stores over a 10- week period (May 4-July 13). Dickerson is to identify, if any, the impact
of the in-store demos and endcap promotions. After analyzing the case, she will then be able to apply statistical evidence into a regression analysis to determine whether the in-store promotions are the best investment of marketing budget. A regression analysis is used to generate the most accurate regression. Once the first repetition is generated, one is expected to evaluate output, check residual plots for violations of regression model assumptions, then check the independent variables to determine statistical significance, eliminating the independent variables that are not statistically significant. With the release of Goodbelly’s product, management desires to analyze the effectiveness of the marketing strategies in place and determine if they justify the associated cost. The key factors most relevant to the case are the variables that are causally related to the units sold in relation to the marketing activities that GoodBelly is implementing. Endcaps, in-
store demonstrations, and sales representatives will be the prime focus in the analysis. This analysis will compare the outcome of the variables on the units sold and resolve whether both promotions are justified or if they should be eliminated.
Extraneous Variables In examining the Good Belly Harvard case study, several extraneous variables have surfaced that bear significant relevance to my paper on market and consumer awareness. Firstly, regional differences in consumer demographics and preferences could impact how market awareness strategies are perceived and adopted. These variations may influence the effectiveness
of marketing campaigns and consumer responses, thus shaping the outcomes studied. Secondly, competitive actions and industry trends might introduce fluctuations in consumer awareness levels, potentially altering the context within which Good Belly operates and its strategies are evaluated. Lastly, the timing and frequency of promotional activities could affect the visibility and retention of consumer attention, influencing both short-term market awareness and longer-
term consumer behavior. Acknowledging and addressing these extraneous variables in my analysis is essential for providing a comprehensive understanding of the dynamics at play in enhancing market and consumer awareness within the context of Good Belly's strategic decisions.
Graphs + data section 1. Market Share Pie Chart
A pie chart illustrating the market share distribution among GoodBelly and its main competitors.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
please refer the below case link and solve the questons
https://www.scribd.com/document/360480894/Caso-The-Rise-and-Fall-of-BlackBerry
Porter’s 5 forces modelfactors
1. Bargaining Power with respect to New Entrants•Economies of Scale•Product Differentiation•Capital Requirements•Switching Costs•Access to Distribution Channels•Cost Disadvantages independent of Scale•Government Policy
2.Threat of New Substitutes•Availability of substitutesthat can perform same or similar functions•Potential returns of an industry in terms of profits•Ability of the company to charge higher prices
3.Bargaining Power vis-à-vis Competition: •Numerous or few equally balanced competitors•Slow industrial growth•High fixed or storage costs•Lack of product differentiation•Industry Capacity•Diversecompetitors•High strategic stakes
4.Bargaining power of Buyers (Customers)•Availability of Choice to Buyers•Large number of customers•Product is very important to customer•Dependency on distributors•Buyer information…
arrow_forward
Discuss the following areas focusing only on factors that will have significant impact on MERCURY DRUG CORPORATION
1. Social, Cultural & Demographic Focus
2. Technological Focus
3. Environmental Focus
4. Legal Forces
Note: Discuss thoroughly and translate the identified PESTEL factors in terms of how relevant these factors are for the company and identify and correlate the same for possible opportunities that may affect the following:
• Market Demand and Opportunities
• Types of products and services offered
• Intensity of Competition
• Supplier and Distribution
• Costs of Doing Business
• Other aspects of the Business
arrow_forward
Colgate “Kitchen Entrees” FAILED WHEN IT WAS INTRODUCED INTO THE MARKET. PRESENT A REPORT ON WHY IT FAILED
arrow_forward
By implementing relationship marketing tactics and approaches, Switch can demonstrate to their stakeholders that they care for existing customers as much as new ones, and that long‐term customer satisfaction is their business’s main objective. Evaluate whether Switch have applied the focus areas of relationship marketing, by comprehensively discussing the following elements:
Individual customer approach
Customer knowledge
arrow_forward
Ethics Some critics of marketing have suggested that
market segmentation and target marketing lead
to an unnecessary proliferation of product choices
that wastes valuable resources. These critics sug-
gest that if marketers didn't create so many differ-
ent product choices, there would be more resources
to feed the hungry and house the homeless and
provide for the needs of people around the globe.
Are the results of segmentation and target market-
ing harmful or beneficial to society as a whole?
Should firms be concerned about these criticisms?
Why or why not?
arrow_forward
5. Direct-to-consumer
businesses have had
mixed success. That is, while the model
has succeeded in some categories, it has
not worked in others. Can you identify
reasons why? Which product categories
may be more suited for direct-to-consumer
business model?
arrow_forward
which of the following is closest to reality
1) Both relationship and transactional marketing are optimal in the short run
2) Transaction marketing is optimal in the short run, while relationship marketing is optimal in the long run
3) Transaction marketing is optimal in the long run, while relationship marketing is optimal in the short run
4) None of the listed options
5) Both relationship and transactional marketing are optimal in the long run
arrow_forward
Explain in eazy. Your are an owner of a sneaker shoes brand. What would be your marketing plans and customer driven strategies to penetrate in the competitive market keeping in mind your target market and What would be your plan for a new offering to create value and built customer relationships in this COVID-19 pandemic?
arrow_forward
Salvatore Ferragamo, is based in Florence, Italy. It is one of the world’s leading fashion brands. Furruccio, president of the company and chairman of the board noted that ‘emerging markets
represent important opportunities for luxury goods such as Salvatore Ferragamo’.
Ferragamo and many other companies in the luxury industry face challenges as consumer habits change. Historically, the luxury shopper was brand loyal, now they are losing sales as many shoppers pursue the ‘next big thing’ via online retail channels.
Ferragamo recently introduced a new shoe line called Ferragamo WORLD, that utilizes eco- friendly production process and the CEOFurruccio Ferragamo, vision and focus is to re- introduce the brand to emerging markets, with a combination of style, creativity and innovation with the brand’s quality. appeal in an effort to boost sales.
The CEO has contacted you as a team of international Marketing consultants to design a NEW global marketing program that is aligned with his…
arrow_forward
4 strategies that Tropical Leisure can implement in the short-term to profitably increase sales and regain market share given its current production and financial constraints.
Four approaches to rise the short period profitability of the business:
Approach 1: Enhances the cross-sell & up-sell moderately than increasing the worth of the product•Approach 2: Implementing loyalty programs to attract the customers/distributors to buy again from the company.•Approach 3: Running Fear of missing out on campaigns to create the demand•Approach 4: Having dealt with the financial institutions to clear the debt and to make sure the financial operations are running smoothly.
For each of the strategies that you have outlined suggest how Mr. Grant mightproceed to evaluate these strategies.
arrow_forward
Consider the Scenario below:
A national property/casualty insurer distributes its personal and small commercial productsthrough independent agents. A study was conducted as a part of reevaluation of its strategies,designed to determine:• Whether its market share might be increased by direct marketing to some households.• Whether doing so would conflict with agent activities.• Marketing themes and product features that could be used to differentiate it indifferent market segments.• The potential profitability of different segments.Attitudinal, behavioral, and demographic data were gathered using a mail panel survey of2000 U.S. households that own auto insurance. Geodemographic and credit informationsupplemented the survey responses.Segments Identified: The study identified five segments, each making up 17% to 22% of themarket.• "Non-Traditionals" were most interested in using the Internet and/or buying insuranceat work.• Direct Buyers were more interested than others were in buying via…
arrow_forward
Keeya group of industries is a biscuit making company that is expanding by increasing its products visibility. The company has hired a Marketing Manager who will be primarily responsible to help Keeya market on various online and off line platforms and improve its brand name. You have been assigned the responsibility to identify the important knowledge, skills and abilities that this marketing manager should have. Explain which level of TNA would be suitable in the current situation and how would you go about doing it.
arrow_forward
For each of these products—chocolate bars and cereals—describe how marketers can apply their knowledge of the differential threshold to packaging, pricing, and promotional claims during periods of (a) rising ingredient and materials costs and (b) increasing competition.
arrow_forward
As a marketing team at your company, you have been given the opportunity to attend two virtual seminars with experts commenting on how COV19 has shaped the future of customer relationship management and sales and marketing. Your team has been asked to highlight at least four key points from these virtual seminars that can support sales, marketing and customer relationship management for the arm of their retail banking unit based in the Caribbean, along with three strategies to build client relationships and revenue over the next 2-3 years
arrow_forward
COMPANY Case
Target: From "Expect More"
to "Pay Less"
slowdown, posting quarterly increases in same-store sales of dose to
5 percent along with substantial jumps in profits.
When you hear the term discount retail, two names that usually
come to mind: Walmart and Target. The two have been compared
so much that the press rarely covers one without at least mention-
ing the other. The reasons for the comparison are fairly obvious.
These corporations are two of the largest discount retailers in the
United States. Category for category, they offer very similar mer-
chandise. They tend to build their stores in close proximity to one
another, even facing each other across major boulevards.
But even with such strong similarities, ask consumers if there's a
difference between the two, and they won't even hesitate. Walmart
is all about low prices; Target is about style and fashion. The "cheap
chic" label applied by consumers and the media over the years per-
fectly captures the Íong-standing…
arrow_forward
Topic : Principle of Marketing
Please read and answer thoroughly with clear and appropriate examples to illustrate as well as provide accurate information that is not shared wth other students so we dont have the same thing, please
Each product will have a life cycle. Briefly explain each step in the Product Life Cycle (PLC), describing possible challenges and strategies which may be employed to sustain the sales and profitability of the product.
Use appropriate examples to illustrate.
arrow_forward
For each of the following sources of market failure:public goods, private goods, merit goods , demerit goods, imperfect information andexternalities.
i) Briefly define each ii Outline key characteristics of public goods and private goodsiii) Give TWO example of demerit goods and positive externalities
arrow_forward
Examine a scenario where the head of sales for a luxury automotive brand is stepping into a new market renowned for its discerning and affluent clientele. This market is teeming with well-established competitors, each offering a diverse array of high-end vehicles and bespoke services.
The head of sales is confronted with a formidable challenge: to craft a nuanced personal selling strategy that not only distinguishes their brand from competitors but also cultivates enduring relationships with potential buyers. In this fiercely competitive environment, how can the head of sales leverage the power of data analytics, sophisticated CRM systems, and cutting-edge technology to tailor the sales process according to individual preferences and lifestyle choices?
arrow_forward
1. What methods does Jones Soda use to market its product?
2. How do these marketing methods help the company compete
against the market giants?
3. Write a brief critique of the Jones Soda Web site and comment
on its effectiveness as a marketing tool.
arrow_forward
Apply the 4 P's of marketing to the sport product or service selected (Indian Cricket Team)
Address the following items in this section of the assignment:
Product: Explain the sport product or service to be marketed.
Price: Identify the cost of the sport product or service as compared to its competition.
Place: Describe how the product or service will be distributed to consumers.
Promotion: Recommend how you will make consumers aware of the product or service.
arrow_forward
Marketing Strategies: Research how DeBeers' positioned themselves through advertising, brand messaging, and promotional tactics.
Marketing Segmentation: Identify and describe the market segments DeBeers targets, and how it meets (or creates!) various consumer needs. Explain who DeBeers targeted consumer is and why.
Competitive Advantage: Analyze what gives DeBeers its edge, such as brand equity, market control, and exclusive partnerships. Explain how it differentiates itself from competitors and its unique value proposition.
Global Impact: Assess DeBeers' influence on the global diamond market, including international strategies and regional adaptations.
arrow_forward
Describe the Proton Motors marketing concept and principles. Discuss why – the understanding and execution of this concept - is the most important underlying principles of Competitive Advantage in conducting the business for Proton Motors Corporation in this time and age.
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education
Related Questions
- please refer the below case link and solve the questons https://www.scribd.com/document/360480894/Caso-The-Rise-and-Fall-of-BlackBerry Porter’s 5 forces modelfactors 1. Bargaining Power with respect to New Entrants•Economies of Scale•Product Differentiation•Capital Requirements•Switching Costs•Access to Distribution Channels•Cost Disadvantages independent of Scale•Government Policy 2.Threat of New Substitutes•Availability of substitutesthat can perform same or similar functions•Potential returns of an industry in terms of profits•Ability of the company to charge higher prices 3.Bargaining Power vis-à-vis Competition: •Numerous or few equally balanced competitors•Slow industrial growth•High fixed or storage costs•Lack of product differentiation•Industry Capacity•Diversecompetitors•High strategic stakes 4.Bargaining power of Buyers (Customers)•Availability of Choice to Buyers•Large number of customers•Product is very important to customer•Dependency on distributors•Buyer information…arrow_forwardDiscuss the following areas focusing only on factors that will have significant impact on MERCURY DRUG CORPORATION 1. Social, Cultural & Demographic Focus 2. Technological Focus 3. Environmental Focus 4. Legal Forces Note: Discuss thoroughly and translate the identified PESTEL factors in terms of how relevant these factors are for the company and identify and correlate the same for possible opportunities that may affect the following: • Market Demand and Opportunities • Types of products and services offered • Intensity of Competition • Supplier and Distribution • Costs of Doing Business • Other aspects of the Businessarrow_forwardColgate “Kitchen Entrees” FAILED WHEN IT WAS INTRODUCED INTO THE MARKET. PRESENT A REPORT ON WHY IT FAILEDarrow_forward
- By implementing relationship marketing tactics and approaches, Switch can demonstrate to their stakeholders that they care for existing customers as much as new ones, and that long‐term customer satisfaction is their business’s main objective. Evaluate whether Switch have applied the focus areas of relationship marketing, by comprehensively discussing the following elements: Individual customer approach Customer knowledgearrow_forwardEthics Some critics of marketing have suggested that market segmentation and target marketing lead to an unnecessary proliferation of product choices that wastes valuable resources. These critics sug- gest that if marketers didn't create so many differ- ent product choices, there would be more resources to feed the hungry and house the homeless and provide for the needs of people around the globe. Are the results of segmentation and target market- ing harmful or beneficial to society as a whole? Should firms be concerned about these criticisms? Why or why not?arrow_forward5. Direct-to-consumer businesses have had mixed success. That is, while the model has succeeded in some categories, it has not worked in others. Can you identify reasons why? Which product categories may be more suited for direct-to-consumer business model?arrow_forward
- which of the following is closest to reality 1) Both relationship and transactional marketing are optimal in the short run 2) Transaction marketing is optimal in the short run, while relationship marketing is optimal in the long run 3) Transaction marketing is optimal in the long run, while relationship marketing is optimal in the short run 4) None of the listed options 5) Both relationship and transactional marketing are optimal in the long runarrow_forwardExplain in eazy. Your are an owner of a sneaker shoes brand. What would be your marketing plans and customer driven strategies to penetrate in the competitive market keeping in mind your target market and What would be your plan for a new offering to create value and built customer relationships in this COVID-19 pandemic?arrow_forwardSalvatore Ferragamo, is based in Florence, Italy. It is one of the world’s leading fashion brands. Furruccio, president of the company and chairman of the board noted that ‘emerging markets represent important opportunities for luxury goods such as Salvatore Ferragamo’. Ferragamo and many other companies in the luxury industry face challenges as consumer habits change. Historically, the luxury shopper was brand loyal, now they are losing sales as many shoppers pursue the ‘next big thing’ via online retail channels. Ferragamo recently introduced a new shoe line called Ferragamo WORLD, that utilizes eco- friendly production process and the CEOFurruccio Ferragamo, vision and focus is to re- introduce the brand to emerging markets, with a combination of style, creativity and innovation with the brand’s quality. appeal in an effort to boost sales. The CEO has contacted you as a team of international Marketing consultants to design a NEW global marketing program that is aligned with his…arrow_forward
- 4 strategies that Tropical Leisure can implement in the short-term to profitably increase sales and regain market share given its current production and financial constraints. Four approaches to rise the short period profitability of the business: Approach 1: Enhances the cross-sell & up-sell moderately than increasing the worth of the product•Approach 2: Implementing loyalty programs to attract the customers/distributors to buy again from the company.•Approach 3: Running Fear of missing out on campaigns to create the demand•Approach 4: Having dealt with the financial institutions to clear the debt and to make sure the financial operations are running smoothly. For each of the strategies that you have outlined suggest how Mr. Grant mightproceed to evaluate these strategies.arrow_forwardConsider the Scenario below: A national property/casualty insurer distributes its personal and small commercial productsthrough independent agents. A study was conducted as a part of reevaluation of its strategies,designed to determine:• Whether its market share might be increased by direct marketing to some households.• Whether doing so would conflict with agent activities.• Marketing themes and product features that could be used to differentiate it indifferent market segments.• The potential profitability of different segments.Attitudinal, behavioral, and demographic data were gathered using a mail panel survey of2000 U.S. households that own auto insurance. Geodemographic and credit informationsupplemented the survey responses.Segments Identified: The study identified five segments, each making up 17% to 22% of themarket.• "Non-Traditionals" were most interested in using the Internet and/or buying insuranceat work.• Direct Buyers were more interested than others were in buying via…arrow_forwardKeeya group of industries is a biscuit making company that is expanding by increasing its products visibility. The company has hired a Marketing Manager who will be primarily responsible to help Keeya market on various online and off line platforms and improve its brand name. You have been assigned the responsibility to identify the important knowledge, skills and abilities that this marketing manager should have. Explain which level of TNA would be suitable in the current situation and how would you go about doing it.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education