1.0 Company Background Cold Storage is a well-established retail company in Singapore. It was established in Singapore in 1905. (ColdStorage, 2014). Since then, the store has become to grow in Singapore as a retail shops. As of right now, Cold Storage has 48 stores operating in Singapore. (ColdStorage, 2014). Cold Storage is the market leading in Singapore and selling an amalgamated multi-temperature warehousing of fresh and frozen food distribution. Cold Storage has awarded HACCP from SGS to its quality, integrity and food safety, therefore quality and the freshness of the food is guaranteed. (ColdStorage, 2014). Cold Storage also received MUIS certification as a reward for the first supermarket who is providing Halal food to the Muslims.
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The strategy management is closely related with the marketing concept. (Hunger, Thomas L., 2012). According to Bellizi and Bristol (2004), the process of identifying the strategies need a full analysis from the entire market, not only focus on what the customers need. The variation of customer’s needs, new retail arrangements, and new technologies (Dooley, R., 2014) are the main reasons why Cold Storage need to pay more attention to its long term strategy planning. It is important to set a managerial decision and action in order to keep a good long-term Cold Storage’s performance. The process of strategy management contains a full set of commitment, decision and action from all of the employees in Cold Storage. (Ellickson, Paul B et al., 2012). Strategy management, however, would help Cold Storage to have a clear sense of vision, focus on an important strategic, and improve the understanding of a fast changing environment. The vision of Cold Storage is to deliver safe food, healthy animals and plants for Singapore; trusted and respected globally. With that vision (Grimsley, Shawn, 2014), the leader of Cold Storage could focus on which strategies should be used for the long-term performance. There are few strategies are used in order to win the competitiveness among their competitor and how Cold Storage able to create customer loyalty in order to maintain the …show more content…
(Yan, Ruiliang, 2006). It can be characterized as a choice between offering everyday low prices or promote a frequent discount on smaller goods. (Lal, Rajiv & Rao, Ram, 1997). The type of food and beverages in Cold Storage are more expensive than others markets, but they guarantee the freshness of the food and beverages, so that their targeted customers satisfy to buy their groceries in Cold Storage.
Moreover, Cold Storage offers food and beverages that are famous from other countries. So, people who are originally from there, but lives in Singapore or people who like the products from other countries. They still able to enjoy the food and beverages in Cold Storage. It makes the customers easier to find international products that they like, and they can find it in Cold Storage. Not to mention, Cold Storage will charge them with affordable prices and good quality.
Cold Storage also sometimes give a promotion to their products which become cheaper than the original price. Sometimes, the promotion will make the customers become happier and they tend to buy more, even though the price has no much difference. (Reitman, V., 1992). Moreover, Cold Storage also give a privilege to passion card members. The members could add their points by purchasing any products in Cold Storage.
2.3. Service
The strategy management is closely related with the marketing concept. (Hunger, Thomas L., 2012). According to Bellizi and Bristol (2004), the process of identifying the strategies need a full analysis from the entire market, not only focus on what the customers need. The variation of customer’s needs, new retail arrangements, and new technologies (Dooley, R., 2014) are the main reasons why Cold Storage need to pay more attention to its long term strategy planning. It is important to set a managerial decision and action in order to keep a good long-term Cold Storage’s performance. The process of strategy management contains a full set of commitment, decision and action from all of the employees in Cold Storage. (Ellickson, Paul B et al., 2012). Strategy management, however, would help Cold Storage to have a clear sense of vision, focus on an important strategic, and improve the understanding of a fast changing environment. The vision of Cold Storage is to deliver safe food, healthy animals and plants for Singapore; trusted and respected globally. With that vision (Grimsley, Shawn, 2014), the leader of Cold Storage could focus on which strategies should be used for the long-term performance. There are few strategies are used in order to win the competitiveness among their competitor and how Cold Storage able to create customer loyalty in order to maintain the …show more content…
(Yan, Ruiliang, 2006). It can be characterized as a choice between offering everyday low prices or promote a frequent discount on smaller goods. (Lal, Rajiv & Rao, Ram, 1997). The type of food and beverages in Cold Storage are more expensive than others markets, but they guarantee the freshness of the food and beverages, so that their targeted customers satisfy to buy their groceries in Cold Storage.
Moreover, Cold Storage offers food and beverages that are famous from other countries. So, people who are originally from there, but lives in Singapore or people who like the products from other countries. They still able to enjoy the food and beverages in Cold Storage. It makes the customers easier to find international products that they like, and they can find it in Cold Storage. Not to mention, Cold Storage will charge them with affordable prices and good quality.
Cold Storage also sometimes give a promotion to their products which become cheaper than the original price. Sometimes, the promotion will make the customers become happier and they tend to buy more, even though the price has no much difference. (Reitman, V., 1992). Moreover, Cold Storage also give a privilege to passion card members. The members could add their points by purchasing any products in Cold Storage.
2.3. Service