Good KMT Strategy: The primary objective of any Marketing Strategy is to create a strong customer base. This marketing strategy element involves an assessment of the total value of various products to targeted consumers. The pricing strategy of a specific Kroger grocery store will concentrate on establishing the lowest list price, greatest payment terms, membership terms, and other discounts. In order to obtain the most profit and market share, the appropriate Marketing Strategy must be tailored to meet the unique needs of each individual store.
For this market strategy exercise, identify the four segments of the customer; Young-agers, Middle-aged women (marriage and fertility), Couples, and Adults. Identify the Targeting Section that should be the focus of your marketing mix. This includes Supermarkets, Fresh Food, Personalized Grocery, Family Dining, and Outlet Store. Based on the data you obtained from KMP and SWOT analysis, select a marketing strategy that targets each segment of customers.
After identifying your four segments, identify your common goals and themes. This will form the basis of your unique strategy. This will include segmentation based on the theme or goals, as well as the behavioral attributes of customers within each segment. This will enable you to build a plan that addresses the differences between the customers, while still providing the same products and services to each segment.
Create a detailed report, which identifies the strengths and weaknesses of your company’s overall marketing mix. The strengths include competitive position, financial health, geographic reach, and customer service standards. Focus on areas that need improvement, such as, the mix of products and services, customer satisfaction, and the overall performance of the company. The weaknesses include pricing strategies, financial health, geographic reach, and product assortment. The strengths and potential problems identified should be analyzed in detail and then implemented in order to achieve the goals of your strategy.
In order to implement the strategy correctly, ensure that all employees are fully trained in the application of it. Most importantly, make sure that the copies you distribute to customers contain everything necessary to make your grocery shopping experience enjoyable. Most importantly, ensure that you do not use any strategies that could have been found through internet research. You want your KMT marketing strategy to be unique, yet still, be able to reach and convert your customers. As long as your copy contains valuable information regarding the specific areas you are addressing, you will be able to easily market to your customer base.
Finally, distribute your brochures or flyers within a targeted area. If you are going door-to-door, you will need to make sure that you are targeting the appropriate customer groups. As long as you are targeting the correct group, there is a very good chance that you will be able to generate a high return on investment. By following these three simple strategies, you will be able to implement the best Kroger Marketing Strategy for you.
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