Competition
A competitive analysis is an integral part of a marketing plan (Berry, 2005). Nevertheless, Neon’s Memories Diner marketing strategy does not include a competitive analysis. The analysis is an opportunity for Neon Diner to have insight into the market in which they are competing (Berry, 2005). It permits them to identify the main competition and know where they are located.
The competitive analysis allows the diner to analyze their competitor’s business which includes a website, price, marketing messages, strengths and weaknesses, as well as the competitor’s reputation (Berry, 2005). Though Neon Diner does not include a competitive analysis in their marketing plan, it does plan to differentiate itself from the competition
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through quality food, fun, service, and unique dining experience. Since competition is huge in the restaurant industry, understand the competition and consumer behavior is extremely important to the success of the Neon Diner business. Target Marketing/Key Stakeholders Meet Needs. In an effort to meet the primary needs of their consumers, the retro 50’s and 60’s diner experience will be engrained in the culture and all aspects of the restaurant from the tabletops covered with images of the era to the authentic wall décor, bathrooms and paper products (“Free Sampling,” 1996-2007). The diners’ core message is “Your Way-Back-When Diner.” The marketing strategy Neon Diner created detailing how the target consumer needs were to be met through the quality service of the servers which will treat customers carefully, respectfully, happily in an effort to achieve their primary needs (“Free Sampling,” 1996-2007). As a part of the service, Neon Diner will ensure the cleanliness of the restaurant. The servers will have high-quality customer interactions. At the end of each meal, the management team will engage customers as well to confirm the customer experience was unique and the food exceeded their expectations (“Free Sampling,” 1996-2007). The objective is for Neon Diner to create memorable experiences for their target consumer that will be shared with their children and grandchildren that include great food, quality service, and live entertainment. Consumer Behavior.
Understanding the consumer’s behavior and the impact it has in marketing in critical to Neon Diner and enables them to identify opportunities that are not currently met. There are various factors that influence consumer behavior such as psychological, personal, and social factors. Salespeople have leveraged the power of an emotional appeal to consumers for many years (Rosenthal, 2014). The richer the emotional content of a brand’s, the more likely the consumer will be a loyal consumer. For instance, the diner is attempting in their marketing strategy to be a part of the emotional bonding with the family. When the think of their good times together they will think of Neon’s Diner, the quality food, and service as well as the unique experiences they had on theme nights.
People use emotions as sources of information. These emotions may signal what type of action is more appropriate or desired. The Neon Diner’s marketing strategy appealing to the family’s value of family. The intent of the marketing plan is to appeal to their target consumer the grandparents and their time spent with their grandchildren. The adult children sense of family value in who are able to relish in the emotion of sharing their children with their
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parents. Motivators. Motivation is the driving force which compels individual to action. In the case of Neon’s Diner, the grandparents may be motivated by delight and seek out those moments of pleasure and want to make those moments last if possible. Being able to share these memorable moments with their children and grandchildren could motivate them to participate in the diner’s promotional events such as consumer loyalty programs and theme nights. Other motivating factors for the target consumer could be their attitude towards diners, their grandchildren or children. They could very well be motivated by the need of wanting to feel the emotional love they receive from their family. Marketing Materials The diner has some great marketing materials as part of its strategy which includes a printed marketing kit and an effective website.
The marketing kit is based on the company’s website, but not used for customer. The marketing kit is primarily used for a press kit when seeking relationships with membership organizations. These organizations are optimal for providing referrals. The press kit contains numerous pieces of material comprising of such materials as theme night information, reviews, FAQs, a copy of the menu, prices, and testimonials.
The Neon Memories Diner website is designed to educate prospects encouraging visits with a first-timer discount coupon. The website informs customers about upcoming events, the menu and key information regarding the diner. The website contains a call to action button which encourages the consumer to sign up for Neon Points and referral program. The diner’s social media plan includes blogs to be shared before and after theme
nights. The social media plan incorporates establishing a Facebook page with links to the blogs and shortens versions of its posts. Facebook is the largest and most popular social media platform this is a great beginning. However, Neon Diner should also include extensive use of a variety of different social media platforms such as Facebook, Twitter, LinkedIn, YouTube, Pinterest, and Instagram for brand exposure and engage their consumers (LaPage, 2016). The diner’s social media strategy should geographically target connect with the neighborhood communities posting information about theme night events, local partnerships. The diner’s effective marketing strategy involves more than a mobile-friendly website; it includes a lead generation plan, conversion plan, and referral strategy, consumer loyalty program, marketing calendar and measurement process. The Neon marketing strategy includes all of these elements. The diner plans to generate leads through advertising mediums such as traditional marketing, pay-per-click digital marketing, print advertising, direct mail campaigns, and membership and customer referrals. In addition, the diner’s tactics leverage other marketing functions as well.
Reviewing the company’s distribution and channel strategies may help determine the appropriateness of the strategies in the current market and if the company needs to make adjustments to their strategies. Also determining Keurig Inc.’s pricing strategies for consumer sales and aids the business in determining if their pricing strategy is appropriate for the current market. Lastly, identifying promotions for consumer sales helps Lazaris and the other leaders of Keurig Inc. determine if they must change their promotions to obtain the maximum profit from at-home-market sales.
An effective advertisement is able to persuade its viewers by providing informative facts about a brand that help create a sense of liking, which will enhance certain attitudes and feelings about the brand from the target audience. If an advertisement is effective it will be able to persuade its target audience. The persuasive appeals used in the Bud Light Party advertisement are source likeability, humor appeal, and appeal to broad cultural values, specifically patriotism. This paper will analyze how these three persuasive appeals can make an advertisement successful by grabbing the attention of its target audience, the millennial generation, making them more likely to have purchase intentions due a connection made between the advertisement
There is an undoubtedly enormous influence on the world by consumerism. Consumerism and capitalism shape the nation that we live in today. Everyone knows this because they see advertisements all day long on television, on the radio, on billboards and through hundreds of other mediums. Unfortunately, what the world is not exposed to is what goes on behind the marketing and the ultimate final sale. There is a dark side to capitalism created not only by shady merchants, but the worldwide multi-national companies as well. What both of these excerpts portray is the idea that there is more to the products we buy than we are told, or unfortunately, that we bother to ask about. Through the use of interviewing, traveling, and criticism, these authors do a fine job in analyzing the relationships between branding and marketing, and more importantly, between our modern day consumption habits and hidden production processes.
The beverage industry is highly competitive and presents many alternative products to satisfy a need from within. The principal areas of competition are in pricing, packaging, product innovation, the development of new products and flavours as well as promotional and marketing strategies. Companies can be grouped into two categories: global operations such as PepsiCo, Coca-Cola Company, Monster Beverage Corp. and Red Bull and regional operations such as Ro...
Individuals tend to view large corporations as booming monopolies who care little for the common man. In the Allstate TV ad, “Back to the Basics,” the insurance company targets families who share the same values by using multiple techniques to create tone, memories, and trust. The company tries to persuade families to use their insurance because they know from experience that people enjoy the small things in life that need to be protected. The company uses their spokesman, Dennis Haysbert, to inform listeners of the company’s strength in overcoming obstacles. To illustrate their value, Allstate uses pictures and lighting to embody the idea of a happy family. The visuals also represent the company’s history, showing their experience. The
The Porter’s model of competitive advantage of nations is based on four key elements including factor endowments, demand conditions, related and supporting industries and firm strategy, structure and rivalry. This makes it suitable in understanding the competition existing in the soft drinks industry in the Asian markets. The factor conditions identify the natural resources, climate, location, and demographics. Coca cola and Pepsi enjoy the growing population in the Asian markets (Yoffie, 2002). A higher population guarantees the two companies adequate revenues.
d) Enlarging new customers. Research on the consumer purchase behavior is an essential need. The analysis data will provide more information on who, how, and why to buy, and also understanding the competitors marketing strategic plan. Secondly, by analyzing the majority of subscribers age group, gender, preference items. Sending regular email on current promotion items and offer them with the 1st trial discount voucher to convert the subscribers into customers.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
Several facts are changing in today’s marketing communications. More companies adopt the new concept of integrated marketing communications (IMC) to convey a consistent message about their brand and products. Hence, IMC has played a powerful role and developed into a useful strategy for company to reach more customers and build good customer relationships. According to Herstein et al. (2008), IMC is one of a successful strategy that coordinates and integrates all of marketing communication tools to efficiently and economically influence between an organization and its existing and potential customers. Moreover, marketers can combine IMC tools (advertising, sale promotion, personal selling, direct marketing and public relations) rather than separate practices to create values and avoid potential conflicts (Duncan & Everett, 1993). In fast food industry, fast food chains integrate advertising, sale promotion, sponsorship, packaging and Internet to promote their products as well as build brand image (Sperber, 2003; Story & French, 2004; Morrison, 2010). Advertising is most used form of communication and the most frequently utilized medium due to it easily contact the target market, especially on television advertising (Story & French, 2004; Case, 2007). In addition, simple toys and products are typically used by fast food chains in children’s meal to attract children and adolescents.
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Nevertheless, one of the most important constants among all of us, regardless of our differences, is that, above all, we are buyers. We use or consume on a regular basis food, clothing, shelter, transportation, education, equipment, vacations, necessities, luxuries, services, and even ideas. As consumers, we play an essential role in the health of the economy; local, national and international. The purchase decision we make affect the requirement for basic raw materials, for transportation, for production, for banking; they affect the employment of employees and the growth of resources, the successfulness of some industries and the failure of others. In order to be successful in any business and specifically in today’s dynamic and rapidly evolving marketplace, marketers need to know everything they can about consumers; what they are want, what they are think, how they are work, how they are spend their leisure time. They have to find out the personal and group influences that affect consumer decisions and how these decisions are made. In these days of ever-widening media choices, they need to not only identify their target audiences, but they have to know where and how to reach
Competition Among Fast Food Chains MARKETING INFORMATION NEEDED FOR THE FAST FOOD INDUSTRY. To begin with, for the fast food industry around the world, the leading fast food chains marketing information is wrapped around convenience location, changing preferences, quality of food, pricing of fast food, potential customers, age of the customers, menu selection and diversification and last of all superior service. From a marketing perspective, location for the fast food service to the potential customers is most important, according to Maritz Marketing Research. A recent study showed the location has to be convenient. The analysis said that adults under the age of 65 prefer a convenient location for their fast food.
“Viewpoint: Who Knows What Lurks in the Hearts of Consumers? The Inner Mind Knows.” Advertising Age. 09 06 1997: n. page. Web. The Web.
According to Heath and Heath (2008), consumers seem to have a mistrust of marketing resulting in a disconnection between the agenda of brand managers and consumer interests. This mistrust lies with the consumer view that marketers are pushing for “excessive consumption” rather than really understanding attitudes and perceptions that lead to satisfying the needs and wants of consumers (Heath & Heath, 2008). Today, consumers are opposed to push strategies, and prefer making decisions about brands more independently. Hipperson (2010) has found that companies may have to “change from delivering push communications to creating pull interactions” (p. 263). This reflects the importance of listening to what consumers are demanding and then implementing strategies that will satisfy this ...
These advertising strategies include sexual, chock, emotional, fear, and humor. From these appeals, companies are seeking high brand awareness and brand recognition to consumers. When these appeals used to attract large ...