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The Highest Quality Appliances in the Industry

Essay by   •  March 16, 2017  •  Research Paper  •  3,827 Words (16 Pages)  •  1,105 Views

Essay Preview: The Highest Quality Appliances in the Industry

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Executive Summary

This summary includes a concise outline description of the market, the market’s need and how we propose to satisfy this need.

2.1 Mission Statement

To provide the highest quality appliances in the industry.

As a business organization obtaining a permanent place in appliance industry/market is our primary goal. We wish to acquire local international renown within the next 5 years. We see it as our main mission to provide high quality, higher standards, lower prices, and a better service to the targeted markets. Basic corporate objective is reflected in everything we do, which is to contribute to the enrichment of the quality of lives for people around the world.

2.2 Business Identity

By combining experience within small owned private businesses handcraftsmanship MKT will be able to create a high satisfaction level. MKT will used advanced technology and knowledgeable of the consumer as to offer high quality product mix. Our corporate philosophies are embedded in our customer oriented management and operations, proving excellence in our products and services, continuous efforts to expand our existing market and create new markets, enhancement of research and development on a long range perspective, commitment to care for end users through providing even better service after sale, pursuit of further globalization of MKT’s business fostering positive growth through diversification. These philosophies shall be incorporated at all levels of a company.

2.3 Location

We are going to be located at 2500 E. Palm Canyon Drive Palm Springs, CA 92264. His location has been selected because of its low price, top location, esteem, size, visibility and image.

2.4 Geographical Markets

The primary will be local due to location of the business in the center of town close to the business district.


Marketing Program

    The specific market segments the MKT appliance company is aimed to target is various groups for instance homeowners, entrepreneurs in retail and appliances and lastly, are professional customers whom of which consist of small business owners of an appliance company. Demographic characteristics: where our company will segment the market based on family size, income, occupation, social class and education. Behavioral characteristics: Usage rate, benefits sought, readiness to buy and business. The specific market the MKT aims to target is substantial why for one the appliance industry is very capital extensive, especially technologically, which is saying the Wadher requires a lot of resources because it is not common yet a new type of machinery. Therefore the Wadher requires much investment in new research and development to be discovered and experimented on within this product, not forgetting to mention that it has been revolutionized or what most would say modernized to meet the standards of this generation. Necessarily if the MKT appliance company desires to be accessible they must take into consideration how to advertise or market are appliance in a positive, beneficial way towards our clients. Media today can have a powerful impact on whether our business will be favorable in the eyes of the consumers. Media can innovate and add creativity to our strategies. Our megatrend is being promoted by media the new way information is retrieved all over the world. Ultimately the question resounds is are we giving access to our services, products and offering unlimited aid to those who need assistance by any distribution area. By implementing new products and services the MKT appliance company must take an applicable approach this segment is important because it incorporates the companies strategies and tactics through the right product, the right customers and the right messages. Being goal oriented is key! My goal as a business is to build brand awareness where trust with our prospects is crucial by virtue of approachability through providing solutions to any problem; nonetheless, to offer value to our customers in improving the customer experience. Other questions to consider in an actionable segment is: Who is our specific target audience? Do we understand our customer’s essential needs? Are we satisfying their needs? Are we building relationships or partnerships with prospects? Is media implemented by means of communication channels?

 

    Niche target market is the aim the company is directed towards. The MKT appliance company believes in providing the customer with the appropriate product assortment and quantities at the right price. It also believes in having trained employees on hand to help customers make appropriate choices. Developed an intimate personal bond with its customers by this we are determined in formulating a life transforming experience his is crucial because it incorporates our strategies and tactics through the right product, the right customers and the right messages. Being goal oriented is key! My goal as a business is to build brand awareness where trust with our prospects is crucial by virtue of approachability through providing solutions to any problem; nonetheless, to offer value to our customers in improving the customer experience. Other questions to consider in an actionable segment is: Who is our specific target audience? Do we understand our customer’s essential needs? Are we satisfying their needs? Are we building relationships or partnerships with prospects? Is media implemented by means of communication channels? Let’s face it technology has changed the type of products in every niche market. This is a response to new innovation plus technology. Interconnected retail headlines the use of various media outlets and telecommunications are utilized. This includes TV, phone, internet and billboards. Also direct marketing is another factor we would like to incorporate which is dependent upon the area you reside in order to qualify to meet the needs of our customers. This offers us as a business a competitive edge over the competition because it allows us to distinguish who are the market leaders and who are the business/ organizations that follow behind. Especially within a niche market if you are offering a product for a selected demographic, you could advertise the product using a local media so that marketing budget go a lot further, allowing you to use a more comprehensive media mix. Niche marketing works well when you understand the market.

    Pricing sophistication is primary although to many it may just be viewed as price points in exponentially understanding competitors rating approaches has become difficult. However, the “bottom line is pricing needs to reflect competitor rates or for the most part recognize competitor rates as well insurance risks and cost considerations--Few insures these days fail to perform some type of competitive analysis focusing on competitor rates.” (The four benefits of multi-channel retailing; 2012.) Next factor implemented service delivery simply stated is the interaction within providers and clients. “The most effective structure that would be placed into effect is one provider with multiple clients the same information will be conveyed in many separate interactions.” (The four benefits of multi-channel retailing; 2012.) This is where the clients benefits from shared experiences with other clients. According to Jeremy Gustafson “Stores who do create a seamless experience that integrates all different forms of technology, however, can gain significant customer loyalty. Those brands are perceived as forward-thinking and responsive to customer's needs — qualities that will keep customers coming back.”(The four benefits of multi-channel retailing; 2012.) ‘A store that is perceived as responsive to customer needs and gives customers easy access to a variety of channels can differentiate itself in a crowded field; That allows the brand to compete on the experience offered, rather than just price.” (The four benefits of multi-channel retailing; 2012.) Customers could be willing to pay a little extra for the convenience, and will come back frequently, and brands don't have to allocate their profits just to sustain their current position.  Lastly, expense management provides a passive usage and important cost information on individual networks, departments and even the staff as a whole. For instance, let’s say the business wants to minimize employee’s misusage of the organizations mobile system the mobile expense management will assist in "making sure they are current and competitive, and negotiate the best market terms and conditions." (The four benefits of multi-channel retailing; 2012)

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