Role of customers in strategic planning
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Type | Essay |
Writer Level | Masters |
Style | APA |
Sources/References | 4 |
Perfect Number of Pages to Order | 5-10 Pages |
Role of customers in strategic planning
MRKT 310 Week 2 Writing Assignment
MRKT 310 Week 2 Writing Assignment 6
UMUC
MRKT 310
PRINCIPLES OF MARKETING
Week 2 Writing Assignment
Nike Air Jordan Shoes
9/1/2018
Part 1.
Customer value creation.
Marketing is a process where goods and services get to the consumer from the concept (Clark, 2018). Major customers for the Nike air Jordan shoes are the people who largely value fashion. The company needs to a customer value so as to be the best in the completion field. There are five steps that need to be followed so as to create a customer value in the company. First is to understand what drives my customers, what shoes value do my customer prefer. Understanding my value proposition is the customer’s value equal to the products benefits excluding the costs. Understanding customers and segments that they find more attractive relative to your competitors. Sets price a price that is satisfying to the customers as per the value of the product. Focusing on investing on the most valuable customers allocating your sales force towards the customers and segments will create a great value.
Role of customers in strategic planning.
Customers play a very huge role in the company’s planning strategy since without the customers there would be no business (Kotler & Armstrong, 2010). Customers are the backbone of the business, as one is laying down a business strategy it is important to state the company’s mission since it draw more interest to the customers on your product. The Nike air Jordan shoes mission states “To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.” The mission statement in the company is very effective since it welcomes everybody to buy the product. However, I think it should be modified since by using the word athlete it seems to focus much on the athlete and the product can fit anybody. Despite that it supports the value statement since it talks about inspiration and innovation on the customers.
SWOT analysis.
SWOT analysis is study taken by a company to identify its strengths, weaknesses, opportunities and threats (Westbrook, 2017). An advantage that the organization has is strength. Opportunities can be stated in terms of what interesting trends the company is aware of. A major threat can be identified or spotted by getting to know what the competitors are doing. Understanding what you can improve and what your customers or people in your market see as your illnesses in your company is a way of knowing what weaknesses the company has.
SWOT STRATEGIES | CATEGORY | IMPLICATIONS |
Organizations strengths | Strength. | No need for higher management approval since we have a red tape |
Company’s interesting trends. | Opportunity | Company is expanding with more future opportunities. |
What competitors are doing. | Threat. | Make small changes focusing the competitors that seem to be a threat in the company. |
Understand what you can improve. | Weakness. | Make changes on the staff with shallow skills |
Competitive analysis.
The two major shoe-selling competitors for the Nike air Jordan shoes are the Adidas and the Puma companies (Brassington & Pettitt, 2016). This is because they sell almost the same types of shoes with the Nike Company and have very little differences in term of price, selling services and many more. There are certain criteria’s in which the customer uses in making decisions on which company the consumer the will buy the product. I will major on three criteria and analyses them as per the three competitors.
Company/Criteria | Price | Warranty | Service |
Nike | 4 | 2 | 5 |
Adidas | 3 | 4 | 4 |
Puma | 3 | 5 | 3 |
TOTAL | 10 | 11 | 12 |
Service has the highest score in the criteria. Puma shoes ranked the highest in Warranty criteria among the companies. The competition environment is very stiff since the differences are very little. Puma is the leading, followed by Nike and the last is Adidas.
Part 2.
Customer empowerment.
Consumers are part of marketing in the company since through their feedbacks the company is able to know what the consumer like and how they want to be treated (Brassington & Pettitt, 2015). Thus, giving the consumer an easy and reliable channel to communicate and share their ideas is the best way of empowering the consumers. The Nike air Jordan Shoes Company uses a website as a channel in which the consumers can get to know more on what’s trending in the company and they also have a chance to express the type of shoes they love most. Social media is becoming the best method of creating buzz marketing. This is because most of the people have become familiar to the technology and it is also faster to communicate. Most of the information is spread by the consumers through social medial such as new products and services that the company offers.
Customer satisfaction.
Ensuring that the customers are satisfied with the products and services that a company offers is one of the reasons why the customers won’t prefer going to your competitors (Beckman, 2017). This is fulfilled by giving them a chance to express themselves whenever they are not satisfied. Not only expressing their dissatisfaction but also responding to them complains in the most effective ways. The Nike shoes company has a website where the customers are free to express their dissatisfactions we are also letting all our customers have a personal portal in the company so as we can be able to identify their problems at a personal level. This will be of much importance on the customers since the company will full handle the customer’s issues and know what the majority prefer so as to be at the best level or higher with the competitors.
Consumer relationship management.
For a company to retain its customers and to have more customers buying their products and services, there must be a comfortable and clear relationship between the company and the customers. Nike air Jordan shoes treats all the customers equally. We do not treat the common customers in a more special way than the upcoming ones. This is because once you treat better the common customers in your company, those who are trying to understand your products better will not have much interest on your product. Also treating the customers equally gives confidence that the company is reliable, since some people may take it as if they are being discriminated by treating others better than them, thus leading to loss of some customers due to lack of trust on the company. That is the main reason as to why the Nike air Jordan Shoes Company tends to treat all the customers equally.
Customer privacy.
When the customer feels secured on their activities to your company they buy more of your products and services. Nike Shoes Company is working on the customer’s privacy. This is by creating a personal portal to all their members, where the customers don’t reveal their real identities but they are free to comment on the products and services delivered to them. This will make them free to even rule out some of the weaknesses that the company might have and some of the staff that are not cooperative. This is because they have some privacy in their contributions. The company also provides warranties on their products as per the privacy policies and the guarantees in case there is something wrong with the product under the condition that the customer has not tampered with the product; the product should be rightfully being exchanged with another better product of the same type (Armstrong.et.al, 2016).
References.
Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2016). Principles of marketing. Pearson Australia.
Beckman Theodore, N. (2017). Principles of marketing. The Ronald Press Company; New York.
Brassington, F., & Pettitt, S. (2015). Principles of marketing. London, NY: FT Prentice Hall.
Brassington, F., & Pettitt, S. (2016). Principles of marketing. Pearson Education.
Clark, F. E. (2018). Principles of marketing. Macmillan Co..
Kotler, P., & Armstrong, G. (2010). Principles of marketing. Pearson education. Hill, T., & 30(1), 46-52.
Westbrook, R. (2017). SWOT analysis: it’s time for a product recall. Long range planning.
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