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Question 1.
After reading the case, how should Bob segment his market in terms of the final consumer of Pierogi’s? How will this segmentation help him in determining the retailer in the consumer market (i.e. grocery retail)? Be specific in your answer. Make sure to include the specific segmentation variables and state why you are using them. Then, describe the current brand management position/stage Bob is facing with his product? Why is this important for him to assess and understand? (Points : 50)
Answer:
Bob should segment his market regarding final consumer of Pierogi's by dividing the market into three levels. First the grocery industry, wherein Bob could expect that the retail grocery industry will support the selling of his high-quality food stuff by focusing on image and sales support provided by the company. He even had plans to place his products in the popular regional grocery store called Publix where customers could have easy access towards the purchase of the Pierogi manufactured by Bob's company. Second he should create an efficient website of taking orders from the customers directly. This web portal should provide the customer with the in-depth knowledge about the company and its products. The regular updating of the website and response to customers queries is required to make this segment popular and successful as other segments. The third segment can be made for the restaurant distribution providers, where the customer could ask for the company products during their meals. This way the products of the company can directly be offered to the customers for consumption along with their favorite food ordered in the restaurant. Hence, the companies products can become the part of the dessert.
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The segmentation will help in retail in the consumer market that is grocery where the company products can be made available in both fresh and packaged form. That is the fresh form will be made available for quick consumption. However, the packaged form will have the ability to be saved for next six months. This way the customer requirements for long and short term both can be fulfilled through the market segmentation.
The specific segmentation variables can be for the breakfast, lunch and dinner, dessert, create your line, etc. That is the breakfast will consist of the three different kinds of pierogi's with different flavors and taste. The lunch and dinner will consist of ten additional kinds of pierogi’s which will be stuffed with various kinds of vegetarian and non-vegetarian foodstuffs. The dessert line will have two kinds of pierogis that will have fruit flavors and will be sweet in taste. The final will be the create your line pierogi that will follow the instructions and desires of the customers so that their expected taste can be reached. The segmentation can also be made in small and large quantity. That is the customer can be offered with different sizes of pierogi so that they could make a purchase of the required without wasting the rest. Also, the need of the hour is to develop hygienically and organic pierogi by using organic flour so that the health sensitive customers could fearlessly intake the products of the company specially made to fulfill their prerequisites for health.
The current brand management position and stage that the Bob is facing is the development stage. That is the key requirements needs to be fulfilled through various applications at the operation levels. The first step included the assistance of the engineer in the new product launch for various parts of the manufacturing facility. This will help in applying six sigma black belts. The second need was hiring of the BA in the accounting department so that the various accounts related issues are solved and costing related outcome can be realized. Also, he needs to realize the need to develop a committed web portal that could enhance the ability of the company to reach out directly to the customers and take the orders. Also, he needed to advertise his brand name and place his products in the markets such that its popularity grows manifolds, and the product could be made easily available to the customers.
There is a need to assess and understand the current brand position so that the company image can be made before the customers so that the long term sustenance and growth in the business can be finally are realized. Also, the drawbacks and issues can be recognized and sort out such that the appreciation can be made in the output and gains for the organization.
Question 2.
An important part of marketing is the ability to understand the wants and the needs of the consumer. It is also important for marketers to understand the buying process which the consumer will follow when purchasing your product and also understanding what external factors might influence the consumer. Combining both the text materials with the lecture materials, describe for Bob the first four components (from cue to evaluation of alternatives) the consumer uses when purchasing pierogis for personal consumption. Describe for Bob how each step will assist in his strategic development of his marketing strategy. (Be specific.) (Points : 50)
Answer:
It is correctly said that the important part of marketing is to develop the ability to understand the wants and needs of the consumer. However, it is more important to understand the buying process that the consumer will follow while making a purchase. The various factors that the consumer will make purchase include the followings.
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1. Price of pierogi: Since there are various other companies making homogenous products, therefore the pricing of the pierogi will be considered as a prime factor that could affect the purchase decision. The price of the pierogi can, however, be compensated for the high quality that the customer expects to achieve, but there is a limit to that extent also. Therefore pricing needs to be done keeping in mind the competitive pricing strategies.
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2. Availability of pierogi: The easy availability of pierogi is another vital factor that should be taken care of. That is the customer on non-availability of the Bob's company pierogi can easily shift their demand towards another brand of pierogi. Therefore, it becomes really important to make the pierogi available in all restaurants, grocery stores and even online so that no customer query is missed.
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3. Flavors of pierogi: Different flavors that the customer may like needs to be present at the time of purchase. This helps in supporting the purchase decision and the customer happily pays for buying his favorite taste pierogi.
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4. Difference in pierogi: The pierogi needs to be differentiated in the form of vegetarian and non-vegetarian so that the customers with different food habits could easily pick the one that is suitable for them. Therefore different in ingredients is an important factor that affects the decision making.
The top external factors that could influence the consumer decision include the competitive pricing policy and placement of its products in the market. At present, the close competitors of Bob's pierogi business are two national companies and distributors namely Mrs. T's Pierogi and Riseman Pierogi. Mrs. T Pierogi has nearly 12 varieties that are available to meet at different grocery stores to meet the taste buds of the customers. The Riseman pierogi uses the organic flour for making the healthy pierogi suitable to meet the requirement of health-concerned customers. This way the distinct features of these two rivals product could affect the decision making of the customers for making a purchase of the company products.
The first four components form alternatives that the consumer used when purchasing include the followings.
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1. Veg/Non-veg: The component either needs to be vegetarian or non-vegetarian as per the eating habits of the customers. This factor is the key component that is enquired as an essential component form or alternative by the consumer.
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2. Fresh/Frozen: Some of the customers may consider fresh intake as the primary component while others may not mind it buying them in a frozen state and consuming it later on. This way the state of the food component is another factor or alternative that can be enquired by the consumer.
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3. Organic/Non-organic: The organic and non-organic discretion can be another vital factor that could be preferred by the customer during purchase. The health conscious customer will like to prefer organic food products. Therefore, their preference can be to select the organic pierogi so that the health issues are also kept under control.
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4. Low/high pricing: The competitors pricing strategy will affect the purchase decision of the consumers. This is because of the reason that pierogi is a homogenous product that are manufactured by various other companies. Therefore pricing it’s higher or lowers affects the decision making of the consumer during purchase.
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5. Making your pierogi option: The making your pierogi option is another factor that could affect the alternative decision-making process. Hence, this option should be made available at a competitive price so that the customers could not hesitate in making a purchase.
Therefore, the strategic development of marketing strategy can be assisted keeping in mind the above factors. That is the marketing strategy should include introducing the products in the market by clearly stating the varieties in vegetarian and non-vegetarian available for purchase. The form of pierogi in fresh and frozen both needs to be made available to the customer. The presence of organic pierogi as an option for the health conscious people can also prove to be a positive factor. The pricing of the pierogi in the most competitive manner can affect the decision making. Finally making your pierogi option should be kept at a comfortable level of pricing so that the customer does not feel hesitated in buying.
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