Competition and Buying Patterns. The key element in purchase decisions made at Motivating The Masses client level is trust in the professional reputation and reliability of the professional development firm. The professional development industry is pulverized and disorganized, with thousands of smaller consulting organizations and individual consultants for every one of the few dozen well-known companies. Competitors range from major international name-brand consultants to tens of thousands of individuals. One of MTM challenges will be establishing itself as a complete professional development company, creating "other" experts the client trust outside of Xxxx Xxxxxxx while creating trust and confidence at the same level on a consistent basis. When dealing with the small or entrepreneurial business market, cost or price will be one of the greatest obstacles Motivating The Masses will face. It will be up to Motivating The Masses to assist its clients in the discovery of how much it may cost them NOT to pursue professional development and establish Motivating The Masses as the most effective solution to their challenges. With time, reputation and referrals will allow for a steady stream of new clients as well as regular price increases. This is not a business to build brand as much as it is to build reliability. The following table is an internal competitive evaluation prepared by management to highlight how the company expects to compare with competitors in a number of key aspects within the next few years. A rating of 5 is excellent, 3 is average, 1 is poor, and 0 is not applicable.
Competition and Buying Patterns. The major factor for our customers to utilize services with Frenzs will depend upon the success of using key data such as this to evolve our strategies. Although at the present, we offer a unique product offering unlike any other in the industry, we don’t intend to sit around and rely on past laurels. As we increasingly gather exposure, we will also gather more followers, and earn an enhanced professional reputation with both our end users and our professional client base as well. Nielsen Global research has concluded that 83% of consumers take action because of trusted recommendations. In today’s marketplace consisting of individuals age 18 – 54, which comprises two separate groups age 18 – 34 and 25 – 54; according to the Bureau of Labor Statistics data shows that spending on entertainment in this age group averaged just under $3,000 per year, and that of that amount mobile and on-line spending comprised 54% of this number (according to Digital 360). Of that total expenditure of $1,620 (54%), Trinity Development Hub, and its mobile app Frenzs, believes it can xxxxxx just 0.0148% of that spending, which would represent the total cost of an annual subscription. Thus, our primary target audience are those ages 18 – 54, and we have based on sales and revenue numbers on the previous set of conclusions. Most business owners and marketers have heard the refrain that Social Media is important, and while this is certainly true, we sometimes don’t think about why Social Media is so valuable. Things like brand awareness, website traffic, and fan engagement are a good start, but they don’t cover what makes Social Media Marketing so important. Social Media, or more accurately, the content that is easy to spread via Social Media, has the ability to make people act in very specific ways that are positive to business owners. This embodies the framework that Frenzs will utilize to track our competitive environment, and assess consumer buying patterns for both our use, and in recommending strategies for our FrenzsPro client base.
Competition and Buying Patterns. The general nature of competition in this business, and how the customers seem to choose one provider over another can be measured by customer loyalty and positive word of mouth. Customer loyalty and brand preference come from developing a trust between the customer and the business. To be successful in the hospitality business, one must truly believe in, and always apply, the fundamental meaning of hospitality, which simply stated is, one must always be hospitable, and the customer must truly be made to feel welcome and cared for. The trust that a customer feels, is based upon the business' ability to recognize what it takes to please a customer, and then is built upon by continuously delivering to that customer at, or above, the level of expectation that the customer expects. Honey Hill Bar & Grill has carefully selected a management team that has been specially trained in exceptional customer service. The screening, hiring and training standards for front-of-the house staff are the highest in the industry. The level of attention and care that our staff bestows upon our customers sets us far above our competition. Honey Hill Bar & Grill also has extremely high standards for professionalism in the kitchen. Cleanliness, freshness of ingredients, adherence to recipe and cooking standards, and efficiency are constantly applied. Prices are reasonable, and are perceived as being an exceptional value. Honey Hill Bar & Grill offers extremely delicious steaks, tantalizing chicken dishes, savory grilled seafoods, tender prime rib, fresh salads, sensational appetizers, tempting desserts and refreshing beverages. All of this can be found in an environment with an ambience that is very comfortable. Honey Hill Bar & Grill is conveniently located near a successful mall. The restaurant has a huge, secure parking lot, excellent ingress and egress, and a beautiful and highly noticeable exterior. This area has other restaurants, which is a definite plus for us. This allows us to capitalize on a positive "clustering" effect, and works well with our marketing strategy.
Competition and Buying Patterns. Since there are only a limited number of stations to choose from in the region, the traveling customers will be drawn by the two major name brands at [YOUR COMPANY NAME]'s location. Travelers are becoming more accustomed to one-stop shops, where they can fill their gas tanks and take care of their other traveling needs all at once. [YOUR COMPANY NAME] will fit this mold very well. The locals will quickly find out that [YOUR COMPANY NAME] has a variety of fishing and boating equipment to offer, as xxxxx as a convenient store and filling station and select it as the station of choice.
Competition and Buying Patterns. Competitive analysis conducted by the company owners has shown that there are 20 companies currently offering some sort of wedding planning services in the Xxxxxx area. However, the majority of the incumbent competitors offer only a limited line of services like catering, flower arrangements or gifts. In fact, of these 25 competitors only three offered a range of services comparable with what TLC Wedding Consultants plan to offer to its customers. The following is the list of the major competitors with a brief description of their services: • Rent-An-Action offers ceremony preparation, rehearsing and execution services. • Cross & Xxxxxx provide flower and catering arrangements and wedding consulting services. • Lafayette Wedding offers its clients entertaining, catering, floral design and hair styling services. The market research has also shown that customers anticipate the complete wedding consulting services to be expensive and they budget accordingly. In fact, lower prices are very often associated with poor service quality. By aggregating a complete range of wedding services under one roof, TLC Wedding Consultants will offer its customers the ease of one-stop shopping.
Competition and Buying Patterns. There are many activities and types of travel available to people contemplating a vacation. Direct competition can come from virtually any agency, and there are several agencies who specialize in international traveling. Lifestyle, age, and disposable income influence the decision to travel and in which type of travel to participate. International budget conscious travelers make purchase decisions based upon their desire to learn more about a specific country.
Competition and Buying Patterns. Quality and timeliness are the essential factors in being successful as a supplier to a skin care product company. This is especially true when the product is re-packaged as part of a gift basket or special promotion. A delay in delivery will impact the company's ability to meet delivery deadlines. Quality is also an important factor because word of mouth is one of the strongest marketing tools with skin care products. The local success of skin care product many times leads to a larger company procuring the product for their line. [Your Name] will sell her high quality skin care products at trade shows and beauty related conventions in the region for the next five years. The popularity and customer satisfaction of these products will be an important selling point when any major department store brand first approaches [YOUR NAME] about licensing her skin care products.
Competition and Buying Patterns. Our competition originates from two markets determined by the current season. In the Spring through Fall, our competition comes from both local as well as distant growers. However, because of the cold climate of the Greater Pittsburgh Region, our competion from Fall through the Spring comes from California, Arizona, Mexico and beyond, wherever their is a warm climate while we are experiencing Winter temperatures and the conventional farmers can not grow produce outside. Recently, we have seen produce showing up from closer greenhouse grower Nature Fresh that has opened up an operation in Cincinnati, Ohio. While they are not local in the traditional sense, they are looked at as being local growers especially during the Winter. The good news is that the local food distributors have expressed a high level of interest in buying from us for the following reasons:
1. Close proximity - We will be located within one hour drive time of their distribution centers
2. Grower location in a depressed community - Our local distribution centers actually want to help communities like McKeesport, Pennsylvania because it has been economically depressed since the loss of the Steel Mill Industry in the 1980s
3. Our minority ownership status - We are minority owned - African American.
4. Our ability to qualify as an MWBE status business - Because of our minority ownership status we will be able to qualify as a Minority & Women-Owned Business Enterprise (MWBE) Certified organization entitled to contract set aside contracts and privileges.
5. Lack of other local to Pittsburgh minority commercial farms P roduce Industry Buying Patterns For more than a decade, perimeter departments have been the hot topic within the grocery industry. Leading up to and during the Great Recession, the fresh foods departments won consumer dollars by offering premium experiences, healthy options and increasingly convenient ways to eat well. In 2014, the fresh perimeter departments (meat, deli, bakery, seafood, produce and floral) grew 5 percent in dollar sales compared to 2013, a growth rate 3 percentage points higher than center-store food and beverages. In total, the fresh perimeter has added nearly $7 billion in sales in the last three years, with produce contributing 60 percent of that sales growth. More recently, however, produce sales have wilted. In 2018, the fresh perimeter sales growth rate of 1 percent was actually lower than center-store food and beverages at 2 percent. In addition, produce ...
Competition and Buying Patterns. The customer base of COMPANY NAME is very diverse in that there is a group of general customers that just purchase store brand and national brand products, another group high end customer who request select gourmet products, such as capers, anchovies, specialty sugars, and the like and the cost for these items is approximately $150.00/month, and finally healthy choice customers who request a selection of natural/organic products, the cost for these items is approximately $2000.00/month. In order to maintain our customer loyalty base and continue to increase sales revenue, we make these products available. The community has become accustomed to these products and expects them to continue. Depending upon the size of the community, there may be several stores to choose from. Larger communities, such as CITY, have several larger chain grocery stores as well as smaller specialty/gourmet stores, whereas, a small community may have a single grocery store, or possibly two stores to choose from. The grocery industry is extremely competitive with the rise of hyper marts, convenience stores, and food/drug stores all competing for the same customers. This presents even greater challenges for small town grocery stores to compete with the larger chain stores. In order to compete, stores oftentimes cut costs; however, smaller grocery stores have limited profit margins and room to cut costs in order to remain profitable. Ready-to-eat items and niche markets (ethnic, natural/organic) are a prime growth area for supermarkets. Supermarket success is dependent upon economic conditions, as changes in consumer spending and market conditions affect profitability. Small community grocery stores must be a part of a larger distribution network. Depending upon the area of the country, there are regional distributors that will service their stores. As in the case of COMPANY NAME, a regional distributor in CITY provides bi-weekly service to the market. Grocery orders are placed with General Distributors, Inc. (GDI)) twice weekly and products are delivered on Monday/Wednesday the following week. Rather than purchase every product from the distributor, if available, the owners of COMPANY NAME have partnered with other local distributors to provide fresh produce, meats, cheeses, and natural organic products for the community. A major factor in deciding to pursue the purchase of the grocery store was sustainability. Because food is an item that everybody must consume, the owners determine...
Competition and Buying Patterns. According to the National Restaurant Association's 2010 Restaurant Industry Forecast, consumers will continue to seek value, convenience and expanded menu options in 2010 – and restaurants will deliver. Consumers forced to cut back on spending say they aren't dining out as often as they would like, and this pent-up demand will turn into restaurant traffic as economic recovery continues. The Association predicts that growth opportunities can be found in delivery and other off-premise options, cooking classes and other interactive guest activities, and using new media to reach new and returning guests. Social media will become more critical to restaurant marketing this year. A good plan and solid understanding of those tools – including Facebook, Twitter, Yelp, and YouTube – can help operators mitigate the economic environment. "Word of mouth" has moved online, and more consumers use the Web to browse menus, make reservations, and get recommendations from other diners. Restaurants' use of e-mail, Internet and cell phone text messages in marketing efforts is also a growing trend. Restaurant operators continue to step up their efforts to go green, investing in energy-efficient equipment and fixtures, using recyclable materials and reducing their water use. Green initiatives not only help manage costs, they can also drive traffic. Four of 10 full-service and 31 percent of quick service operators plan to devote more resources to green initiatives in 2010 than they did in 2009, and 4 in 10 consumers say they choose restaurants based on their conservation practices. Locally sourced food, sustainability, and health and nutrition will be the top trends on restaurant menus this year. Seventy percent of consumers say they are more likely to visit restaurants that offer locally produced food, and nearly three out of four say they are trying to eat healthier in restaurants now than they did two years ago. The top 10 menu trends in the Association's "What's Hot in 2010" survey of more than 1,800 professional chefs (American Culinary Federation members) are: locally grown produce, locally sourced meat/seafood, sustainability as a culinary theme, bite-size desserts, locally produced beer/wine, healthy kids' meals, half-potions, farm/estate-branded ingredients, gluten-free/allergy-conscious items, and sustainable seafood. Ethnic cuisine and flavors are also a hot menu trend this year, including regional ethnic cuisine and fusion cuisine. Consumers are interested in trying F...
