Case Study Maitha Essay Example

  • Category:
    Marketing
  • Document type:
    Case Study
  • Level:
    Masters
  • Page:
    1
  • Words:
    565

4CASE STUDY

Case Study

Case Study

The use of symbolic meanings of Gold Blend, which changed from forcing on product attribute to focusing on emotional attributes, was essential in improving Gold Blend’s sales. This is was because focus on product attributes was considered largely discriminatory in terms of economic classes. Gold Blend intended to improve on its market share and customer base. To ensure the realization of this intention, it was important for the company to devise a strategy that could help in the acquisition, retention, and growth of customers. High customer traffic in terms of access to Gold Blend product could ensure an improvement in its sales.

The shift in focus from product attributes to emotional attributes was a customer relationship management approach embraced by Nescafe at the organizational and business levels of appeal and creates some level of connection with customers rather than a simple marketing strategy. The introduction of this approach to marketing was also based on the understanding that the the beverage industry was experiencing improved competition around the world due to the dynamic that had characterized the business environment (Forbes, 2014). The use of sophisticated romance as marketing strategy was used by Gold Blend as technique of establishing a connection between the emotional lives of the customers and the high quality satisfaction they could derive through the consumption of Gold Bled products. The customer relationship management approach applied in this context was that which focused on the ability of the company to use the attributes of its existing products in creating a connection with its customers hence improving sales (Forbes, 2014).

Sophisticated romance can be considered as a viable strategy for other product categories and cultures depending on its relevance to the target customers. When considered in relation to Gold Blend, sophisticated romance was targeting women of all economic classes as a strategy of improving on the company’s brand popularity, market share and customer base. For sophisticated romance to be considered a viable approach, it will be important to develop a focus strategy that concentrates on a specific buyer group, market segments, and geographical area (Mullen & Johnson, 2013). This is because sophisticated romance targets women who prefer love stories that create some element of emotional connection in their lives. This may not be appealing to other target customers whose preferences and choices with regard to advertising may not be embedded on emotional aspects or romance. This means that a marketing strategy such as sophisticated romance can only be viable in situations where a company selects a particular target group and attempts to tailor its services in accordance with the needs of its customers relative to those of its competitors(Mullen & Johnson, 2013).

While developing such a strategy, it is important to develop an event based marketing approach focusing on marketing differentiation that aligns customer desires and the prevailing marketing conditions. The applicability of this approach is based on the understanding that in the contemporary market customers often seek individualized services that highly use focus differentiation strategies in the satisfaction of customer needs. Sophisticated romance is only viable for other products and cultures depending on the relevance of the strategy to the needs of the customers (Mullen & Johnson, 2013).

References

Forbes, S.(2014),» Creating Profitable Customer Experiences», American Banker, Vol.169, Issue

221, p 22rd-22rd,1p

Mullen, B & Johnson, C. (2013). The Psychology of Consumer Behaviour. Oxford University

Press: Oxford, pp.181-182