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Essay on supermarket shopping
Monopolistic competition market in retail industry pdf journal
Essay on supermarket shopping
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INTRODUCTION
Garden City, the second biggest shopping centre in Queensland has over 440 stores with a total retain floor area of 142,835m2. It has the highest recorded foot traffic in a Brisbane shopping centre. The aim of this report is to compare and identify major factors that affect products characteristics. Certain goods and services differ in price and quality among businesses at Garden City due to different characteristics. In this report, it will be proved based on primary and secondary research.
FINDINGS
There were a variety of products examined throughout this research task. They all differed in quality, size and prices from each other. Multiple stores were visited to compare the characteristics of these goods. The data that was collected
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Woolworths a public company, had major variety on its Party Mix Lollies. Of the large variety, the Woolworths home brand party mix was recorded. It was made from 93% Australian product and contained no artificial colours or flavours. Consequently, it also had a very low health star rating of 1.5 out of 5 stars. This party mix lolly package was placed along the bottom shelf, as it was the cheapest. It was only $1 per packet and was 0.67/100g. On the other hand, BIG W a public company, had many popular Party Mix Lollies stacked on their shelves. The lollies had been intricately placed exactly at kid’s eye level and had very bright colours. They also advertised that they had no artificial colours or artificial flavours and were strongly advertised that they were made in Australia. They were moderately priced at $3/180g. Which would be prices at $1.67/100g. In addition, another Party Mix Lollies were heavily presented throughout the shelves. The Natural Confectionary Co Party Mix was very dominant on the lower shelves. However, this was not a very bright colour. It attracted the eye as it was very soothing colour compared to all the other confectionary displayed in the shelves. As well as this, it was the only Party Mix that was packaged in a tub instead of packaging material. It was also heavily displaying that is was made in Australia and had no artificial colours or flavours. It was priced at …show more content…
Apples at Fruits of Life were at very high quality. They were displayed very well and they were very glossy. Fruits of Life has very fresh apples as they are only competing with other fruit and vegetables stores. Therefore there products have to be of very high standard if they want to be on top of other competitive stores such as Spuds and Plums. The products are also of high standard as Fruits of Life is a local business. Therefore, they provide goods to a local population. They also have limited advertisement, as they are only a local business. Fruits of Life is a monopolistic market as products and prices are different to other stores, they have less freedom to enter or leave the market and have many firms. On the other hand, both Woolworths and Coles are both a national businesses. They understand the culture of the country and develop products and services to satisfy its market. Woolworths and Coles are an oligopoly market type. They both have products and prices that are different from each other, less freedom to enter or leave market, however they have a few firms. They also sell a variety of products and have great variety. They also have national advertising, as they are national and well-established companies. Therefore, they have more customers, which increases store
Another item to consider between the two stores is the quality of the products being offered.
The recent product, liquor filled chocolates is a viable business that can sell if it is implemented professionally. This recent innovation should be able to acquire attention from the market owing to its combination of selling products. Put simply, the liquor-filled chocolates are chocolates that contain alcohol. According to Novellino (2011), Chocolate-candy sales summed up to $16 billion in 2008 in the U.S. Furthermore, the statistics on alcohol reveals that liquor sales hit $19.9 billion in 2011. What does the statistics reveal about the product? This reveals that the market for the two products is present and combining them will result in a profitable business. This paper is a report on targeting and segmenting the new liquor filled chocolates as a potential business.
Giuseppe’s product line consists of more than 80 different sausage related products to be marketed to supermarkets, restaurants, casinos, and mail order/individual call in. Giuseppe's strategy was to develop a reputation of being the best in the industry. To do this, they focused on and provided what their customers wanted – customized specialty sausages, priced their products competitively – just a few cents above competitive prices, and prided themselves on being above average USDA and Health Department standards and regulations when it comes to cleanliness of the sausage making areas. 2. What is the difference between a..
There were fierce competitions among the producers that have scale and scope of operations which were similar to each other. For instance, the Pepsi Co. and Coca Cola companies have developed the strategy and infrastructure, which are hard for the local sellers to complete with them. However, there were still many producers including new entrants that try to access the market and compete seriously with low price and differentiation- strategies among rival...
The food and staples retailing is an increasingly competitive industry. The market giants (competitors) are Coles (owned by Wesfarmers) which has 741 stores across Australia and plans to add 70 m...
Lamb, C. W., Hair, J. F., McDaniel, C. D., & Wardlow, D. L. (2009). Essentials of marketing (6th ed.). Cincinnati, Ohio: South-Western College Pub..
By implementing Bob 's value chain and SWOT matrix the supermarket can become an attractive specialty supermarket. By matching its locally-made items and organic produce with a repaired building, attractively displaying the product in an attractive display case and inviting parking lot, Bob 's Supermarket could become the place where not just the local community come to shop, but the Madison-Hilltop community as well (Parnell,
Pepsi Blue was first test-marketed in Bahrain for three reasons: first, the majority of residents drank Pepsi; second, regional marketers and bottlers had already begun re-evaluating the effectiveness of the company's white logo (which didn't work well in their market); and third, the city was a small test market with a tightly controlled sample population. The Pepsi Blue logo, tagline and new marketing materials were rolled out in half the market and its results were highly successful. Purchasers liked the new logo design and the majority believed that the packaging had improved and the taste remained the same. For those who believed that both the taste and packaging were different, the majority enjoyed the "new" taste.
Therefore, value is perceived as a subjective measurement of the usefulness or desired satisfaction that results from consumption. According to her, although what is received and what is given varies among consumers, value represents a tradeoff of the salient of “give” and “get” components. “The benefit components of value include salient intrinsic attributes, extrinsic attributes, perceived quality, and other relevant high level abstractions” (Zeithaml, 1988). Furthermore, value is defined as “whatever it is that the consumer seeks in making decisions as to which store to shop or which product to buy” (Chain Store Age, 1985). One more definition about value is given by Schelter (1984), supporting that value is all the factors, qualitative and quantitative, subjective and objective, that shape the complete shopping experience. In this definition, value includes all relevant choice criteria. The most common definition of value is the ration or tradeoff between quality and price, which a value-for-money conceptualization. These two components (quality and price) have different effects on perceived value for money. According to Zeithaml (1988) some customers perceive value when the price is low, whereas other people perceive value as a balance between quality and price. Therefore, the
This report aims to provide a mix review of theories and personal case study. I will apply two consumer behaviour theories in relation to my own purchase decisions.
On the other hand, most factors prove otherwise. The retail industry does not have high Economies of Scale to be exploited in general . Yet, it is impossible to run department stores like Metro on a small scale . A large retail space, inventory, and warehouse are necessary to host a specialized portfolio of brands and products to better attract both customers and suppliers. Heavy capital requirements and operational expen...
Despite there being a stable state established in the market of pampers, there have been variations in the way that the products of this company have been demanded from their manufacturing companies (Christopher, 2016). On having a closer look at the differences and swings in the way that demand is made in this organization, it was clearly found out that the differences in demands were greatly affected by the ordering practices of the product retailers. The way that wholesalers, and other product distributors acquired the product also resulted to some variations being experienced in the market (Simchi-Levi, Simchi-Levi, & Kaminsky,
Although there will not be the ‘exclusivity’ appeal as many copies of an item of clothing is made, the price reduction will attract customers making them strong competitors in the market. Based on the primary resource found, the surveys depicted that majority (7 out of 13 volunteers) found Mr Price to have low prices and high quality items. When asked about Mr Prices strengths 8 out of 13 (61.5%) indicated that affordable clothing was a strength and is the reason they shop there. 3 out of 13 (23.1%) said they were easily
The second problem was solved by the brand is a simplification of choice. Every day consumer is faced with many similar products, and he just physically does not have time to compare all the annotations, the percentage composition, indications and specifications (f...
A good location can have a significant impact in attracting potential customers, thus improving sales. Especially in the case of a supermarket, location is more important than other business sector. Customers never drive long distances to only buy daily necessities. Moreover, favorable location gives efficiency to company’s logistics because unnecessary moving cost can be cut down. So, we can say that it is important factor for the successful operation of the supermarket.