Founded in the early 1960’s by Truett Cathy. CFA is a family owned…
Created by Robert S. Kaplan and David P. Norton after an year-long research project with 12 companies, the Balanced Scorecard is a set of measures used by top managers to provide a quick and complete view of the business (Kaplan & Norton, 1992). It contains the financial results of the actions already taken as well as operational measures on customer satisfaction, internal processes, and the organization’s innovation and improvement activities. In short, the Balanced Scorecard answers these 4 questions (Kaplan & Norton, 1992): 1. How do customers see us? (Customer Perspective) 2.…
Utilizing two zipcodes where the stores are located, 15237 for a Sheetz in Pittsburgh, and 19104 for a Wawa in Philadelphia, these we entered into a zip code lookup in order to discover the demographic of the area. After pursing the results, there were some distinct differences between the two areas and perhaps insight to who really are the supporting groups of the brands. Pittsburgh’s area is made of up more Middle Age families or upscale individuals, households with commonly $100K in income, mainly 1 or 2 person who are married, with children, or other, mostly older than 65 years, and predominantly White. Conversely, Philadelphia's area was made up of young or middle-aged individuals without families, households making less than $25K in income, mainly being 1 person and without children, mostly age 23 to 34 years-old, and a mix of White, African American, and Asian (“ZIP Code Look-up”). Of course these locations cannot be a complete accurate description of the entire stakeholder groups, but it interesting to note that they both are very distinct.…
A company to maximize its benefit needs positioning itself. Positioning is “the act of designing a company’s offering and image,” which creates and implants a distinguishing place in the minds of the targeted customers (Kotler & Keller, 2012, p. 276). For a positioning to be successful, a company must identify its competitors. Competitors are the companies that fulfill the same desires of the customers. Closest competitors to a company are those that make the same offers as the company to attract the same clientele.…
Case Critique 1 Ed Williams Men’s Wear, after over 20 years of running a successful and profitable store, Owner Ed Williams begins to transition in his son Lowell as the new owner. As Lowell explores opportunities for new growth, he needs to address a critical marketing problem, that without attention could affect sales and future profitability of Ed Williams Men’s Wear. The problem that store is currently facing is that; as the store’s market is aging and declining, the ability to attract young consumers is hindered because the new consumers have a negative brand perception of Ed Williams…
There are numerous companies that fit the bill of falling short in implementing the marketing concepts, due to not focusing on creating, delivery, and communicating superior value to its customers. One company that comes to mind is JC Penney (Penney), as an iconic discount and sales retailer, where it made its debut in 1902 as the Golden Rule store (JC Penney, 2011). Penney survived countless strategic business challenges, but was able to maintain its existence, yet barely holding on throughout today. There were many strategic mistakes made that started around 2010 with CEO Mike Ulmam, where Penney held profits but considered a low-performance retailer, compared to Macy and Kohl’s (QUOTE, 2013).…
Introduction The start of Ann Taylor began in 1954 by Richard Liebeskind in New Haven, CT., streamlining clothing for the high-class female niche sold in Ann Taylor (AT) stores. In 1995 Ann Taylor Loft was created to attract the younger more cost-conscious professional women incorporating a one-stop shopping environment with additional sizes, a more casual look to “widen market appeal and grow” implemented by the CEO Sally Kazaks. Following the retirement of Chairman and CEO J. Patrick Spainhour, President Kay Krill was promoted to the position of CEO. Her initial goals were to “improving profitability while enhancing both brands”, “restoring performance at the Ann Taylor division and restoring the momentum at LOFT”. By 2007 the global economy was going through difficult times, consumers buying patterns were changing, CEO Krill came up with a plan to restructure the business in 2008 focusing on three key areas—the evolution of our brands and channels, the reduction of our overall cost structure, and the continued pursuit of growth.…
The customers seemed happy to browse at their leisure and did not look intimidated by the number of staff available. One customer came in and immediately asked an employee to help her find an outfit for an event. This show the level of brand loyalty they have built using…
The term customer value has many meanings, but two dominate – value for customer and value for the firm (Woodall, 2003). The creation of value for customers is a critical job for marketers, especially when developing new products and services or starting new businesses (Smith & Colgate, 2014). From a customer’s perspective, customer value is what they benefit from Fitbit Alta relative to what they have to sacrifice in order to obtain it (Zeithaml, 1988). Smith & Colgate break customer value down into a number of small parts shown in figure 2. The values that are in blue are the benefits that customer may get from buying a certain product.…
Polar Sports, Inc. is a fashion skiwear manufacturing business based in Colorado, and produces high quality ski jackets, snow pants, sweaters, thermal soft shells, along with accessories. The Ski apparel design and manufacturing business was highly competitive, causing dollar sales of any product to vary as much as 30% to 40% from year to year meaning it has become increasingly difficult to accurately predict sales. Because of this highly competitive market both design and pricing resulted in short product lives and high rate of company failures. The decision the company faces is to change it manufacturing process from seasonal production to level production. Under seasonal production they greatly expanded their workforce paying large amounts…
“A business model reflects management’s hypothesis about what customers want, how hey want it and what they will pay, and how an enterprise can organize to best meet customers needs, and get paid well for doing so.” Do you agree with this statement? Why? Be specific. Feel free to use examples.…
Identifying the Driving Forces in New Marketing Principles and Their Probable Future Changes Krystle Alfonseca LIM College Marketing principles are the fundamental concept and philosophy that serves as the foundation for promoting a business (sale of goods or services), or a behavior for a chain of reasoning in business domains. Marketing encompasses a spectrum of processes such as identifying consumers ' needs and design a means of providing these needs. Today 's marketing is facing with progressively multifaceted clienteles; transnational markets integration and technological advancement, which periodically drive the new marketing principles. What the driving forces are in new marketing principles Certified services firms periodically evaluate the suitability of their business models so as to deliver the greatest value to their clients, which remained the dynamism in business and the forces that propel marketing principles. The structure of marketing is centred on three great principles namely; customer value, competitive advantage and focus on customer need (Kotler & Armstrong, 2010).…
Doing CRM Right: A study of T-Systems’ Roll-out of CRM System Overview As has been remarked upon in scholarly research, today, in the business world, management perceives that clients are the center of a business. Increasing market share for any business depends upon the strength as well as their ability to pull and hang on to a firm’s potential clients. Similarly, if not more critical, is the need to retain the client and their future dependability to the item offering or brand.…
In order for the bank to remain competitive within the industry, they must position themselves as an employer of choice so as to attract the right skills which will keep them in business. Internal branding remains a doctrine that leads to an increase in employee loyalty, while external branding makes the organization attractive to the potential…
Challenges of Human Resource and Employee Retention Employee retention. Employee retention is a system in which workers are nurtured to stay with their employer for as long as possible or when their assignment is completed (Laddha et al., 2012). Employees are the most significant assets of the organization and therefore, to have them remain in their jobs is very advantageous for the organization as well as the employees. As a result, leadership faces great pressure not only to recruit good employees , but also to make sure they do not exit the company.…