How to Use Marketing Strategy to Improve Sunform Supermarket’s Performance
This essay stresses that a business should first focus its attention on nurturing, retaining and growing its existing customers before planning to spend more on new customers. Satisfying existing customers is critical in order to enhance its sales. To achieve this objective, it should understand its customer psychology to gain knowledge of what they want and how they want it. only then it will be able to deliver the most value point to its customers.
This paper makes a conclusion that Since it is not practical to deliver the same product to all the customers belonging to different groups, it is better to divide the market into different segments, then evaluate each segment’s attractiveness, select target segment having more profit potential, identify positioning concept for each target and then effectively communicate and deliver the chosen positioning concept to target customers. This will create an image for the business in the minds of customers, which in turn will grant it market ownership in the future. After segmenting and targeting the largest customer group, Marketing Mix should be used to improve its performance and customer satisfaction level. By strategically applying the product, place, price and promotion tactics into the business, and by communicating effectively those promotions, it can influence customer’s choice and reach its ultimate goal of increased sales followed by high profits.