The paper "Marketing Strategy and Multi-Channel Marketing" is a wonderful example of a Marketing Assignment. The Coffee shop market has increasingly been on the rise with increasing numbers of coffee shops that have developed in the country. This factor leaves the legendary coffee shops with no other option but to match up the need of the market demand and supply. It is for this reason that the Gloria Jean’ s coffee shops need exemplary market strategies so as to elevate its sales and improve on the deteriorating market returns (Gronstedt, 2000). It is important to note that the quality of the services offered need not be compromised or otherwise other coffee shops will benefit from the competitive disadvantage.
If anything, the quality of the products and services offered should be ultimately enhanced. This research has looked into the nature of the market trend and will recommend two marketing strategies that will be aimed at correcting the phenomenal disadvantage of increased competition of Gloria Jean’ s Coffees (Aaronson, 2003). Strategy 1: pricing Pricing is a strategy that many businesses utilize to secure a significant market share for their goods and services.
In this case, Gloria Jean’ s coffees are capable of developing very competitive pricing strategies that will enable the realization of securing a better market share in a very competitive field. This strategy will strategically place the products from Gloria Jean’ s coffee at preferred rates in comparison to other products of the same caliber from the other competitors. However, it is vitally critical that this strategy will not compromise the returns that the company is to achieve at the end of a certain trading period (Hoyanyetz, 2003). This strategy aims at promoting the sales of the products of the company.
Pricing strategy ensures that the prices most importantly remain the most preferred ones in the market. This will greatly increase the number of customers visiting the shops and those who will be seeking to get their services from Gloria Jean’ s coffees (Hoyanyetz, 2003). Essentially, the returns will seemingly rise due to increased demand for the services. With no compromise on the quality of the products, pricing strategies are the best marketing tool that will attract and create more new consumers.
With an increased preference to the company’ s products, probably later on the prices won’ t matter to the consumers. At this point, the company can probably equal the product prices in line with those of competitor substitutes (Personalized on Demand Printing & Publishing, 2002). The most important thing here according to this strategy is enhancing the belief and preference of the products and services offered by the company. The pricing strategy can also incorporate market position buying. This involves the buying of market share by the introduction of free samples in the market either directly or when attached to certain amounts of the products.
Coupons can also be int5roduced to entice buying of the products. This may, however, make the company realize low-profit margins but greatly helps to achieve customer loyalty so that in future even if the prices are raised, the customers will still remain (Hoyanyetz, 2003).
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