East coast supermarket
Name
Institution
Due date
As the sole community provider, the market offers grocery products to the local community and the surrounding area of an approximate of 5000 citizens. This refers to the pillar of the community as the viability is dependent on the success of the local market. Without a strong pillar such as the market, the community may alter and deteriorate; thus, a healthy community is dependent on the success of its businesses.
The market requires funding that would assist in continuous development efforts and also provide an opportunity that would promote growth in the community. The business should be erupted within the and has received a limited supply upgrade to support the need for the energy-efficient building .the funding would provide the first steps for improving and expanding the services and enhancing the continuing success of the markets in this community.
Before February 2, 2020, the annual sales of the market tops $500000 with the net incomes that approximate to $15000.this makes the community to respond positively to the minor changes to the market and continues to praise the owners for saving the community. It thus makes the company is anticipating the receipt of funding the amount of $800000 in the quarter of 2021 to finance the upgrade and addition to the market.
Objectives
- Expand building to increase product selection and services
- Replace existing equipment in the facility to provide an energy-efficient environment
- Introduce some coffee shops by creating a commercial kitchen, involving local patrons to prepare local favorites
- Boost Image awareness by establishing baseline customer satisfaction of 100%
- Restore building historical charm by providing necessary building upgrades.
Mission
East coast supermarket is committed to satisfying cumbers by providing a broad selection of high quality and completely pricing products as well as exceptional customer service. To focus on the east coast supermarket is to create a clean environment that is warm, friendly, and clean. The company is committed to its employees and treating them with respect, fairness, and integrity and exposing them to an atmosphere that fosters teamwork and professional development. The suppliers of the supermarket are also partners in the success of the company, and it expects them to be the same. They make a responsibility to be always active stewards that would promote the improvement of the community.
The key to the success of east coast supermarket is to:
- Provide quality products and friendly service.
- Maintain existing loyal customers base
- You are creating a positive relationship within the community.
East coast has another mission of the food matt that would provide a one-stop-shop with access to the quality products of fresh vegetables, fruits, and meat at competitive prices .the products also at this matt are highly dedicated with the top-notch customer service and the commitment of the customers and the community at large.
Effective methods for marketing
As part of the marketing team, they made strategies that would be more effective for the customers (Lannuzzi, 1997). This would be based on the specifications that would help achieve specific objectives that would help increase sales and build customer loyalty. To put this into place, they had to carry an account of the posters, location of the products, environment music, and some other things. Some of the things were to place the essential purchases in the fund, provisions of products, location according to the prices, the use of color topologies to obtain objectives, and others.
Some essential products such as bread, milk, meat, and other personal hygiene place them to the furthest point of the entrance .this is to make the consumers go through the entire supermarket that would help make other spontaneous purchases (Lannuzzi, 1997). In the provision of the products is placed in the most tempting that would enhance customers to see all the products .in placing the products, the most economical products were placed in the lower shelves and the most expensive on the upper shelves and others at the eye level that would naturally increase the sales.
Warm colors attract customers; thus, the supermarket recommends the use of warm colors (Ivanisevic et al., 2016). For the supermarket to avoid mechanical purchases and thus reduce the spontaneous purchases, it chooses the periodic change of the product that would necessitate the essential sales of products. The products prices also are affordable that would attract the customers
The supermarket typically aisles the sales for meat, fresh produce, dairy, and baked goods (Ivanisevic et al., 2016). Some of the shelf space is reserved for canned and packaging goods and various non-food items such as kitchenware, household cleaners, pharmacy products, and pet supplies. The viability of the products depends on the size that would impact how much it would sell. Also, when taking the products one, the company should consider the fragility as they help to attract attention. .to increase the customer’s traffic on the groceries, and the company has to choose a way that would achieve the traffic on customers .this is done through enhancing the provision of plenty of parking spaces and easy access to the roads.
Increasing loyalty to customers is another way to which the company increases its customers to the grocery stores (Ivanisevic et al., 2016). Through research on various departments helps improve the rating of the produce and customer service as well. This is because customers expect high-quality food and exceptional services service while shopping for groceries. This makes the company grocery hire agencies for conducting phone surveys among customers. This thus encourages the customers to a high rating of the market and thus making comments on their rating.
Ivanisevic, A., Katic, I., Buchmeister, B., & Leber, M. (2016). Business plan feedback for cost-effective business processes. Advances In Production Engineering &
Management, 11(3), 173-182. https://doi.org/10.14743/apem2016.3.218
Iannuzzi, A. (1997). The environmental quality business plan: A step-by-step guide. Environmental Quality Management, 7(2), 65-69. https://doi.org/10.1002/tqem.3310070208
SWOT
The business plan forms a road map for the turning point of a small business into turning it into a profitable enterprise (韩, 2019). Weaknesses in a business plan also indicate that either the plan is not well written and researched, or the business concept is not sound. Through this, you have to consider the strength and weaknesses of a business in the plan. This would help decide on how much time and money that would endeavor the business. The weakness in a business plan is used to secure funding, and this suggests that the plan is not deserving of an infusion of cash and a significant negative it’s the purpose of the plan
When making a plan of the east coast supermarket, a thorough analysis of critical thinking is made that helps in creating a healthy business plan (韩, 2019). The plan explains the characteristics of the market that helps suggest how much this market would capture. East coast makes a substantial marketing analysis section that shows how the consumers would want to buy what they offer rather than the competition of the products. A weak marketing analysis does not mention the company trends in the business. The company thus makes regulatory trends, which becomes more critical in the business idea. Without the business plan, the business seems unfinished and lacking some information.
East coast business plan also provides full details about their competitors (韩, 2019). This is because every business has a competition to which they must be competing with other companies. The plan indicates having more competitors, thus indicating less to some weaknesses. The plan also indicates detailed information about the competitors in regards to position, offerings, strengths, and weaknesses that shows that they thoroughly examine their competitors. This helps to indicate if the east coast supermarket is gaining against its competitors.
A good marketing plan should also provide a solid marketing plan (韩, 2019). This helps explain the sales and marketing strategies that would convince prospects to become customers. Also, in providing a detailed bio and background about your executive and management team that is critical to a healthy business plan. East coast supermarket explains the experience and expertise of each person and how they translate into productive management of the business. The plan explains the qualification that handles the day to day management. This proves a weakness if the company fails to show a sign of an investor and that the company may not achieve success in becoming a stable, profitable company. East coast company also includes its financial documents, which are needed to analyze and calculate the cash flow, income projections, and expenses. This is more essential in the documents that include financial statements and realistic operating budgets. These would help make sense while making projections and need to make sense. If it fails to show this, thus the market looks weak, and thus it is unlikely to get funding.
韩, 纪. (2019). SWOT Analysis of Fresh Agri-Food Selling Micro E-Business. E-Commerce Letters, 08(02), 80-85. https://doi.org/10.12677/ecl.2019.82010 Garipova, A. (2019). STRATEGIES FOR APPLYING SWOT-ANALYSIS IN TODAY’S BUSINESS ENVIRONMENT. National Association Of Scientists, 2(50), 56-58. https://doi.org/10.31618/nas.2413-5291.2019.2.50.115
Environmental scanning
Not most of the business would survive and grow without a well researched and anticipated strategy (Mumani et al., 2017). Through this, companies should evaluate their effectiveness basis on the changes in the external environment. A hopeful market evaluation tool thus helps with the oversight of environmental scanning. Through this process of scanning, employees and executive gather and analyze information for their strategical purposes.
Environmental scanning requires members of an organization to look for external and identify prominent lessons, trends, opportunities, or threats that affect a company (Mumani et al., 2017). Through this, the east coast company develops new strategies that best correspond to these external market factors. The executives thus are aware that the issue does not affect the company direct consumers and suppliers but as well as the competitors. Through the innovation of technologies, the business environment is always changing. Through the resulting, these organizations thus need to understand the entire market landscape to develop optimal business strategies. This makes constant research and learning that is shared internally and help mitigate the risk that a business is left unaware of essential changes in the marketplaces.
Given several factors that the company must watch, it is of little wonder why the company is unable to employ sound business strategies (Mumani et al., 2017). East coast supermarket focuses on the industry and the market condition; this makes it have less consideration of the emerging technologies, regulations, and social changes. For this organization to survive, grow, and prosper, management must master the challenges of the changing environment. For east coast supermarket to achieve this goal, the leaders need to develop and implement a systemic approach to environmental scanning, which involves six separate environments. The efforts include gathering data deliberately through market research studies, having informal conversations with other executives. Reading secondary sources, monitoring demographic data, and beck marking initiatives that compare one company with another industry performance and finances.
Environmental scanning takes into account some factors that help the organization to stay safe on the external landscape and adapts the strategy accordingly. The scans are essential for business in multinational corporations (Mumani et al., 2017). This helps the companies to take advantage of opportunities before competitors. They help address the threats before they become significant problems and align the company strategy to make changing the demand of the market.
Environmental scanning is essential to helping plot a future course for the company (Mumani et al., 2017). It enables companies to formulate essential strategies of actions while minimizing threats and taking advantage of an opportunity that arises. The scanning occurs in four modes to which company uses depending on their beliefs and the philosophy operations. These include searching, enacting, conditional viewing, and undirected viewing. Through these modes, companies are effective in responding to future situations.
Environmental scanning is essential to helping plot a future course for the company. Identifying opportunities and threats is the core of risks and management. This enables companies to formulate essential strategies and plans of actions while minimizing threats and taking advantage of the opportunities that arise. Environmental scanning also influences several factors that directly or indirectly influence on browsing and scanning behavior.
Mumani, A., Stone, R., & Wang, Z. (2017). The effect of scanning technology and UPC placement on supermarket self-checkout. Packaging Technology And Science, 31(2), 83-96. https://doi.org/10.1002/pts.2355
Mumani, A., Stone, R., & Wang, Z. (2017). The effect of scanning technology and UPC placement on supermarket self-checkout. Packaging Technology And Science, 31(2), 83-96. https://doi.org/10.1002/pts.2355
Research and digital marketing
For a business plan to thrive well, it also requires some research and digital marketing. The goals of a business plan are thus backed by analytics that gathers information over time. (Holliman & Rowley, 2014) This would help with the importance of digital marketing metrics to track and guide the campaigns of both sales, conversation, and brand awareness. Branding is thus essential in creating a distinct feeling and experience for the customers. Branding of this strategy in marketing helps execute on the awareness of the brand through digital marketing.
Depending on the business plan and marketing efforts, digital marketing is more critical (Holliman & Rowley, 2014). This is because it would narrow the reporting that would include the most relevant vital performance indicators to reflect on the company’s success in marketing. To help achieve this company should determine the success of digital marketing that the company sets as an objective. The company should create goals that help ensure that there is something they are fighting for. This is because success is a measure from the goals .digital marketing successes this financial success
Starting a supermarket business is one of the profitable ventures (2019). Despite the state of the economy and the status that might be, the demand for essential goods and services never fades (Alexander, 2015). This is due to the day to day of everyone that involves the use of grocery items and other related items .this This is provided for the customers to seek these things in the supermarkets business that holds inexhaustible ever-growing and ever-evolving market. There are also larger chains that associate people’s personalities through shopping and hence effect the belt of consumer goods.
Research is another form of way that would enable a business plan to work smoothly .starting a supermarket business is thus a highly profitable venture (Alexander, 2015). Despite the state of the economy, the demand for goods and services in everyday life involves the use of a supermarket that uses grocery items. This is because of a supermarket in the only convenient place where customers seek daily goods. These also demonstrate why its worth to start a business of supermarket because the goods are inexhaustible, ever-growing, and ever-evolving (2019).
There are many opportunities to which one should specialize in making a supermarket. This is because of the claims that people make to lose items while shopping .during the market research, they mainly focus on the competitors to respect with the things they offer and the general appeal of the supermarket .through this they then make a precise study of how established prayers, market their resources and also takes study to their approaches and plan work pricing in their products
As the supermarket grows and becomes plenty, customers are thus spoilt with the choice of competition, and in so doing, they diligently conduct this market research (Alexander, 2015). These make a growing trend of doing things online and pursue an avenue that would unlock a specific market that other markets cannot tap to. This approach would be the set up of an e-commerce site to work along with the physical supermarket.
Failure to plan is the beginning of business failure. A supermarket plan is thus made clear and comprehensive to give its potential partners, clients, and investors an overview of its objectives. And at the same time, it is made detailed enough to explain the nuisances of the business that is purposed .the financial statements of a business plan should again show the supermarket business to be viable and profitable. The location of the supermarket should be made a big concern for most people. This is because the right location in a supermarket, the business enjoys some significant revenue streams that are capable of bringing.
The supermarket should be set up to a location that is connected to a strategic road network for easy accessibility. Also, there should be ample parking for vehicles and a must-have an embrace security .inside the supermarket should be spacious for customers to move in freely inside. At the back should have some great backrooms that are accessible to the staff so as not to disrupt its customers. The supermarket also provides mass transportation as not all customers would have a vehicle but wants to buy bulky goods.
The product range in a supermarket should be made broad and diverse for customers to choose what is offered in a supermarket (Alexander, 2015). This is due to the stiff competition and would not wish the customers to leave empty-handed just because they did not find what they wanted and thus create the need for a comprehensive range of products .supermarket also needs people that would be working for them and thus need to employ people correctly. Some of the jobs include cashiers, security guards, customer attendants, and others. While employing them, there is a need to consider qualified personnel that is passionate about serving people while having a diligent work ethic. The supermarket also due to the impossibility that it cannot work single-handedly (2019). It requires some significant staff of tellers, cleaners, stackers, accountants, and supervisors. Due to the static way of a supermarket, it needs to find new products and new clients. Also, the need to gain the customer’s loyalty through the use of store cards and bonus points that would encourage consumers more to come to the supermarket.
Alexander, A. (2015). Decision-making authority in British supermarket chains. Business History, 57(4), 614-637. https://doi.org/10.1080/00076791.2015.1007864
Digital Marketing. (2019). https://doi.org/10.36068/1.3
Holliman, G., & Rowley, J. (2014). Business to business digital content marketing: marketers’ perceptions of best practice. Journal Of Research In Interactive Marketing, 8(4), 269-293. https://doi.org/10.1108/jrim-02-2014-0013
Mouth marketing and viral marketing
Mouth marketing provides information from consumer to consumer (Dash & Havaldar, 2009). This gives people the reason to talk about products and services and making it a more natural way for this conversation taking place. Viral marketing, on the other hand, creates the informative and entertainments of the messages designed and pass along some exponential fashion.
Digital marketing benefits businesses of all sizes by giving access to the mass market at an affordable price (Dash & Havaldar, 2009). Also, digital marketing occurs with a lot of challenges to which one should be aware of .the main advantage of digital marketing is to the target audience to reach a cost-effective and measurable way of marketing. Brand loyalty and online sales is another advantage in digital marketing. The benefits include global reach that allows markets to find markets and trade globally. Lower cost where it allows customers to reach their property. Digital markets measure online marketing, and openness is involved in social media (Dash & Havaldar, 2009). Digital markets offer social security and also improved conversation rates.
The drawbacks of digital marketing that one should be aware of including the skills and training where one needs training on the right knowledge and expertise to enable carry out digital marketing (Dash & Havaldar, 2009). Digital marketing is time-consuming as it involves holding campaigns and creating marketing content, thus taking a lot of time. Stiff and high competition and complaints and feedback of the brand feedback on the brand audience through social media are other disadvantages in digital marketing. Security and privacy are also some legal consideration that creates several considerations and consumes more data in digital marketing
Dash, M., & Havaldar, K. (2009). Exploring Word-of-Mouth Communication in Business-to-Business Marketing. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1934172
Marketing is considered to require planning that is in control. The marketing mix involves the product, pricing, placing, and promotion (Dominici, 2009). Marketing needs adjustment that would perfect the blend that caters to the needs of the customer to generate optimum revenue. Product offering to the market is an essential part of the marketing mix that would help attract customers. For a product to be profitable, it needs to file a particular gap that needs to target the market. Pricing of the product is another factor that determines the price of the product, including the operational costs and distribution costs of the product availing the market. The place is also an essential factor and also the promotion of the products
Creating a market
Word of mouth marketing is the most cost-effective and productive way to generate new leads in most companies (Dominici, 2009). Word of mouth is the most natural part of the cycle to where the customers seek information while making a purchase. These make the most reliable way to build loyalty to a company. Most customers consider word of mouth to be the most influential in purchasing decisions. Also, people trust online reviews and make consideration from personal contacts when choosing what to buy (Dominici, 2009). Word of mouth is an organic way of spreading information and experiences across online and offline platforms. Also, it is hyper-connected to social media, review platforms, and blog posting and article writing. Word of mouth advertising encourages customers to prospect and share authentic and engaging marketing messages on belief as to the most cost-effective and robust promotional solutions.
To increase the brand benefit on word of mouth, one needs a great connection to the customers (Dominici, 2009. This is because word of mouth is the byproduct of loyal employees, devoted customers, and eager fans. The more you convince people about the company about their worth support, the more one expands the company reach. As ad blockers continue to become prominent online, customers than search for a way to ignore the selling tactics, and word of mouth becomes the key to unlocking an ever-growing audience.
To create this marketing mix with specific word of mouth and social media requires to :
- Start with the employers who would promote the brand
- Provide something worth talking about
- Generate an emotional response
- Also, involve engagement
- Empower employees and customers
- Establish a referral, programmers
Dominici, G. (2009). From Marketing Mix to e-Marketing Mix: a literature overview and classification. International Journal Of Business And Management, 4(9). https://doi.org/10.5539/ijbm.v4n9p17
References