Question

for Target Supermarket corporation

Strategic Recommendations

Implementation steps (5 steps) of recommendations

Risks and mitigation strategies of recommendations

Please summarize each for Target Supermarket corporation
please list sources in APA format

Answer 1

Target Supermarket Corporation Strategic Recommendations

1. Seasonal Campaigns: Supermarket owners might be under the impression that seasonal campaigns can only happen when moving from fall into winter. Well – you no longer have to wait in-between seasons for Halloween, Christmas and Thanksgiving to come around for your supermarket to cash in.
2. Advertise Multi-Use Products: Often supermarkets will make the majority of their revenue from existing customers, who already know the quality of the shop and the brands they offer. Because of this, the majority of new sales and increase in sales will come from convincing existing customers to spend more – rather than attracting new customers.

3. Promotional Prices: There’s no denying that everyone loves a good discount. Even though it’s far from subtle. One of the best marketing techniques for supermarket is to offer promotional discounts when you can.

4. Work with Brands: It’s likely that your supermarket, like most nowadays, will have a card where your customers can gain points in exchange for deals and discounts. Why not make some of those deals products from fashionable brands?

Implementation steps (5 steps) of recommendations Target Supermarket Corporation

1.Sharpen your focus in target market strategy

One of the most effective things to smartly market your product or service is to narrow down your gaze i.e. in other words, prioritize. But what are the efforts to prioritize? Here are some tips to help you redirect your marketing approaches.

2.Obtain data for your target market strategy

Hunting down the right target market strategy also means infusing a conclusion with objective data. The data may come from many sources. While gathering your data, here are some guidelines to keep in mind.

3.Refocus branding efforts

Branding campaigns are important to build product awareness among prospective buyers that you have not scoured as yet. These campaigns also help in increasing awareness and engagement among existing prospects and also shape the perception about your market strategy company, the brand, and product offering. The final goal of a branding campaign is to net more prospects at the top of the funnel and increase the flow of leads through the funnel, converting a prospect into a customer.

4.Engage through relevant content

Your product or service may have an undeniable edge over competition. But prospects may not turn into customers until they get familiar and build trust in your brand. Nice things happen when your targeted marketing understands who you are, your work, and how different you’re from the rest. Towards that end, give them all opportunities to educate themselves, whenever they find time for it.

5.Re-target to increase conversion

Prospects that click on your advertisements, share social media messages or visit you’re corporate or website blog, are already engaged with the brand. They have already sent a signal of interest in your product or service. These prospects are more likely to be considered lower in the marketing funnel and more as highly qualified prospects.