Identify and discuss the store’s target market and the specific product, price, integrated marketing communications and distribution decisions the management has made to develop marketing mix.

Identify and discuss the store’s target market and the specific product, price, integrated marketing communications and distribution decisions the management has made to develop marketing mix.

 

 

Answer:

Store’s target market is currently highly competitive. Losing market share in any market is a setback. Online sales and convenience are a challenge and as well as opportunity. The main challenge is to show the investors sponserors that it can really expand and survive. With fierce competition, there has been gradual erosion of the traditional sales methods that was present with the customers. In the era of burgeoning marketing and pricing strategies, customers are getting hard to retain.

Firms in this competitive environment must offer something to their customers to retain them and their loyalty. In this regard, Customer loyalty programs become quintessential. This adds tangible value to the firm in terms of revenues and increase the brand value and goodwill. There are different loyalty programs that firms deploy. Offering discounts, Loyalty card, reward card, club cards, points card, membership plans, all aim to secure customers loyalty towards the corporation.

Asked on February 13, 2018 in economics.
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