1. Read following paragraph and explain the process this firm might go through to reach this specific marketing strategy - how and why this company reach to use this decision. Also explain results this firm may get from using this specific marketing strategy. In addition, recommend any modification of strategy based on SWOT analysis. Bakery chain Tous Les Jours introduces two varieties of "Kim Yu-na bread,â named after the popular Korean figure skater. The flavors, chosen by Kim herself, are the sweet potato and cream bread, and the kaya bun. The company said that the proceeds will go to various charities selected by Kim. The bread will be sold nationwide. â how this company reach to use this decision
they must go through this procedure to decide specific strategy "market situation evaluation â' SWOT analysis â' specifications of marketing objectives â' to choose marketing strategy(considering 4P's) â' to prepare action programs and budgets Â
a. first step :market situation evaluation
tous les jours would have analyzed their market what really it is, what they face and so forth. for example, nowadays young people like students tend to eat instant food (like bread) instead of meal more and more. as a result, the sales amounts of those kind of industry increase rapidly. additionally, sociocultural trends are changing. that is, there happen to be some trends that regard social contribution or charity as their responsibility. they also might think they need to appeal the young generation who is main customers in that industry. to sum up, marketing situation will be evaluated ahead of described specific strategy Â
b. second step : SWOT analysis
â' what is strength
- tous les jours has a famous and popular brand name which can appeal the customer - the customer thinks that company is good at customer service and has a clear circumstance. - they have many retail outlets which spread out nationwide and so on Â
â' what is weakness
- their price is a little bit more expensive than other local stores' because of franchise fee - they have kind of unfamiliar name for korean people.
â' what's opportunity
- customer's preference(need) is changing into instant food, especially young people. - korean people think our food that is harvested in our agricultural areas is nutritive and safe. - nowadays, social responsibility of the company is emphasized such as contributions, environment-friendly product and so on. Â
â' what's threat
- there are many competitors like local stores and multinational stores. - they can encounter food-polluted problem if they don't control their suppliers. - bread is easy to go bad.
information obtained from the market situation evaluation is effectively structured through a SWOT analysis as mentioned. Â
c. third step : specifications of marketing objectives
- they would build their specific goal to achieve measurably such as sales amount. - they will introduce their social role like charities
d. to choose of market strategy
in this case, I think SO strategy (strength and opportunity) is chosen. and they also will narrow down marketing strategy specifically using marketing mix process for example,
young students who like kim you-na, famous young skater are considered as target markets. similarily, tous les jours has chosen to position two kind of breads as kim yu-na's taste and linked to charities. finally, two kinds of bread will be considered as the breads that make the sports improve and do charities in their young customer. accordingly, tous les jours'marketing mix include 'the product' which is made to attract young people and which is uniquely kim yu-na's taste, 'place' provided through tous les jours's outlet which spread out nationwide, 'pricing' that the young people can afford to buy the breads, promotion strategy that reinforce their own positioning strategy using famous sports idol, kim yu-na. Â
â results this firm may get from using this specific...
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