Dairy Farm Case Study Marketing

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Recommended: Component of holistic marketing

Jovi Kau Sin Yee,
Nur Jasshima Binte Jasni, Q1410244

MKT202e
Marketing Management

Assignment 2 – Group-Based Assignment
January 2014 Presentation
Question 1

Of the four components of holistic marketing, relationship marketing aims to build lasting relationships with its key constituents that affect the success of the company’s marketing strategies. The four key constituents for relationship marketing are customers, employees, marketing partners and members of the financial community.

The Dairy Farm Group has implemented relationship marketing with its four constituents as follow:

Customers
Dairy Farm Group has implemented relationship marketing with its customers by conducting a study of consumer behaviour, understanding the needs of its consumers and providing them with the products and services that meet their expectations.

Dairy Farm has done so by understanding the behaviour of Asian consumers, in a way that Asian consumers tend to shop more frequently, hence, they do not always search for substantially the largest stores with a wide range of products. Instead, Asian consumers prefer to shop at stores that are nearer to their homes. Therefore, it has stores that are not only centrally located within a country but all around the country. Dairy Farm also understands that the Asian market is looking at fresh goods and their quality and so, it aims to provide these at their respective stores.

Dairy Farm operates stores with distinct names to specifically meet the different needs of the market in Asia. They have brand names such as Jason Market Place that cater to the affluent sector and Shop N Save which are located within HDB estates and they focus on fresh goods at low prices.

Dairy Farm woul...

... middle of paper ...

...hould price theirs lower than NTUC FairPrice. If it’s the other way round, Cold Storage should then price it higher.

Step 5: Selecting a Pricing Method
Cold Storage should adopt the value pricing method for First Choice’s Kitchen Towel. As stated previously, First Choice was launched to suit the needs of the customers and provide them with good quality products at affordable prices. Hence, the value pricing method would be the most appropriate for them. Cold Storage can do so by simplifying the work processes so that it can price its products lower without jeopardising the products’ quality in order to gain more customers who are price sensitive.

References:

Kotler Keller (2012). Marketing Management (Fourteenth Edition).

Jay Acunzo (2014). What Is Multi-Channel Marketing?
Retrieved from http://blog.hubspot.com/marketing/what-is-multi-channel-marketing-faqs-ht

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