Preview

Mgmt 5260 Smartart Simulation

Powerful Essays
Open Document
Open Document
1598 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Mgmt 5260 Smartart Simulation
SmartMart Simulation

MGMT 5260

Professor Theodor Tolias

By: Zackary Fisch Rothbart
Student ID: 212700860
1. SmartMart Strategy and Decision Making The approach employed on behalf of SmartMart embraced a two-pronged strategy that entailed both a strategic growth initiative that allows SmartMart to explore additional potential revenue channels and opportunities, and the use of data and industry statistics to drive decision-making. It is incredibly easy to believe that a firm knows what their target demographic desires, but in the end figures are the most proven way to drive company policy. The first decision made that reflects this growth/data-driven strategy was the move to push SmartMart to offer more local Community Supported Agriculture (CSA). The data suggested that this was the most viable growth strategy. In a survey where SmartMart customers highlighted key reasons for shopping at SmartMart, 34% cited expert service, 28% top quality produce, and 23% the store atmosphere.1 In separate surveys 82% of respondents said SmartMart should offer more local products, while 87% stated SmartMart should have a more customized store offering that caters to locales. 2
While guiding SmartMart towards a big-box store approach for growth would result in a more convenient shopping experience …show more content…
I realized the importance of a brand and the brand experience to the value creation process as perceived by stakeholders. I realized that some decisions benefit multiple primary stakeholders (customers and investors in the case of biodiesel and store growth) while those same decisions negatively influence other stakeholders (the decision to purchase biodiesel may result in more corn growth and alternative crop shortages). It is interesting how a single decision can influence so many parties, but it is the role of the firm to weigh these decisions and maximize its value creation and
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Ag Marketing Review of "Twenty Years of Competition Reshape the U.S. Food Marketing System"
    • 559 Words
    • 3 Pages

    Ag Marketing Review of "Twenty Years of Competition Reshape the U.S. Food Marketing System"

    Traditional grocery stores have fallen by the wayside as supercenters and specialty food stores grow. They are increasingly looking for ways to differentiate themselves from the rest of the competition. Oftentimes, the supercenters are able to offer lower prices on food while offering a sizeable selection of other goods that food-only grocery stores find it hard to compete with. Some of these changes have come by mergers and the ability to purchase more for less and changing their appeal in the market. These stores have implemented new technologies such as self-checkouts and biometric technology that allows people to pay at the checkout with a scan of their finger to sway the consumer with convenience. Grocery stores are also differentiating themselves by touting their store brands, as premium goods as opposed to the well know value brands. They are changing their layouts and up scaling their stores to meet customers demands for a reason to enter their retail dwellings. Some groceries are offering even more convenience with the addition of specialty offerings such as Starbucks and fast food restaurants.…

    • 559 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Fsa Midterm Ratio
    • 11623 Words
    • 39 Pages

    Fsa Midterm Ratio

    Industry and Company Background Kroger is the largest grocery store chain in the United States with 2424 supermarkets located in 31 states. It focuses on high quality products and has a wide range of selection. Each supermarket carries almost 50,000 items to satisfy its ever growing diversified customer base. Safeway is the second largest superstore chain in the country. It operates 1641 stores across western and central region of North America. Safeway emphasizes customer shopping experience and superior customer service. Both companies are in the retail industry and compete heavily across several states in the country. In addition to competing with a number of other grocery chains, Wal-Mart is identified as a major competitor for both firms. (Exhibit 1-1) Besides competition, Kroger and Safeway are concerned with key macroeconomic and internal factors. GDP is highly correlated with sales in the retail industry hence personal disposable income is the most critical macroeconomic factor for retail firms’ operating performance. When individuals have more disposable income, they spend more money in the retail industry. As for internal factors, critical success factors for both Safeway and Kroger include focusing on profitability via cost control and focusing on value creation due to the competitiveness of the industry, customer’s budget concerns, and low switching cost. Kroger is able to offer competitive costs for its private label products by backwards integrating and manufacturing 40% of its corporate brand product. Additionally, Kroger is aiming to reduce the costs of energy by pursuing green initiatives. This program includes the installation of wind turbines for the Turkey Hill Dairy that has allowed Kroger to save over 25% on its electricity bill over the last two years. (Smith and Sweet, 2013) As a result, the energy saving initiative adds up to cost savings of $160 million a year on electricity alone. Safeway, on the other…

    • 11623 Words
    • 39 Pages
    Powerful Essays
    Read More
  • Good Essays

    Discussion Board 1 BUSI 601
    • 370 Words
    • 2 Pages

    Discussion Board 1 BUSI 601

    As Walmart is a Cost Leader by strategy, technology innovation is a critical success factor for the company. By using advanced technology in its operations, it would help them in becoming more cost effective as well as keeping them competitive in the international market (Duke, 2010). As technology becomes the most “fundamental of all business changes in recent years” (Blocher, Stout, Juras & Cokins, 2013), Walmart is on schedule to remaining the benchmark within its market throughout the world.…

    • 370 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Mountain Man Brewing
    • 1801 Words
    • 8 Pages

    Mountain Man Brewing

    To explore brand equity: its creation and using brands as platforms for growth; the risks and benefits of a product line extension (including congruent vs. incongruent extensions) using an existing brand name; and the concepts of cannibalization and brand alienation. To practice marginal analysis, breakeven analysis, net present value (NPV) analysis, and sensitivity analysis, emphasizing the difficulty in choosing between qualitative and quantitative information in making key strategic decisions.…

    • 1801 Words
    • 8 Pages
    Good Essays
    Read More
  • Powerful Essays

    Disney's Branding Approach
    • 3513 Words
    • 15 Pages

    Disney's Branding Approach

    Assuming that we are clear on the importance of brands in value generation for an organisation and its stakeholders including consumers it is then of crucial importance to understand how organisations manage their branding processes and if there is any room for improvement.…

    • 3513 Words
    • 15 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Evaluate Marketing Opportunities - Tilba Cheese Case Study
    • 1991 Words
    • 8 Pages

    Evaluate Marketing Opportunities - Tilba Cheese Case Study

    Within the context of evaluating marketing opportunities, brand value relates to the intangible aspects of a company that act as a major source of competitive advantage and benefit for both consumers and sellers. For example, a strong brand value allows for a faster purchase decision process for consumers as information can be gathered quickly, and alternatives will often not be considered with equal weighting. Healy confirms this stating that “Good brands create shortcuts in product choice” (p. 136).…

    • 1991 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Good Essays

    Wal-Mart Market Analysis Essay Example
    • 664 Words
    • 3 Pages

    Wal-Mart Market Analysis Essay Example

    Within the United States, Wal-Mart has a variety of mass merchandising locations. Wal-Mart’s products and services within each location are based on demographics and surrounding stores. Superstores, discount stores, and neighborhood markets are the three types of stores Wal-Mart might open, given a certain demographic. If a community is large and consists of multiple school districts and many families, Wal-Mart will consider opening a Superstore or neighborhood market. Within a neighborhood market, Wal-Mart offers lower pricing to compete with higher priced stores such as Targets, Kohls, ShopRites, ACMEs, and Super fresh. Even shopping malls competing with Wal-Mart. Discount stores are located in smaller…

    • 664 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    shouldice case study
    • 384 Words
    • 2 Pages

    shouldice case study

    The creation of this brand also has a strong influence with how the organization functions and how it is perceived. Levey (n.d.) reveals why branding creates organizational value. Levey expresses that “from a marketing or consumer perspective, it is the promise and delivery of an experience.”…

    • 384 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Apple Brand Management
    • 2733 Words
    • 11 Pages

    Apple Brand Management

    Branding has been around for centuries as a means to distinguish the goods of one producer from those of another. According to the American Marketing association , a brand is a “name, term, sign, symbol, or design, or a combination of them , intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition.” However branding is much more; what distinguishes a brand from its unbranded commodity counterpart and gives it equity is the sum total of consumers’ perceptions and feelings about the product’s attributes and how they perform, about the brand name and what it stands for, and about the about the company associated with the brand. Therefore the aim of this assignment is to illustrate how a chosen company has built Brand Equity instilling awareness, reputation, loyalty and prominence in the marketplace.…

    • 2733 Words
    • 11 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Toyota Brand Equity
    • 2786 Words
    • 12 Pages

    Toyota Brand Equity

    The slogan of Globalization made the competition very tough in the business world due to which organization struggling to make a brand image in market since it is essential for a firm to make a brand image for its profit and survival. It is generally accepted that Businesses are becoming complex and time is passing like flash which compelled the organization to cope with difficult circumstances and make a brand image that helps them to have good revenue and sustainable business. Brand name reduces the choices for consumers as a result they become the loyal customers as well therefore first we should know that what is brand and how we can keep our brand image in market? According to the definition of American marketing association brand means…

    • 2786 Words
    • 12 Pages
    Powerful Essays
    Read More
  • Best Essays

    Key Issues in B2B Marketing and a Need to Develop Appropriate Theories and Models
    • 4005 Words
    • 17 Pages

    Key Issues in B2B Marketing and a Need to Develop Appropriate Theories and Models

    References: Aaker, D.A., (1991). Managing Brand Equity. New York: The Free Press Anderson, J.C. and Narus, J.A, (2004). Business Market Management: Understanding, Creating, and Delivering Value. (3rd ed.). Pearson Education Inc. Axelsson, B. and Blomback, A., (2007). Corporate brand image in the selection of new subcontractors. Journal of Business and Industrial Marketing, 22(6), 418-430 Balmer, J.M.T., (2001). Corporate identity, Corporate branding, and Corporate branding marketing: seeing through the fog. European Journal of Marketing, 35(¾), 248-291 Bendixen M., Bukasa, K.A. and Abratt, R., (2004). Brand equity in B2B market. Industrial Marketing and Management, 33, 371-380 Bengtsson, A. and Servais, P., (2005). Co-branding on industrial markets. Industrial Marketing Management, 34, 706-713 Bloom, P.N., and Perry, V.G., (2001). Retailer power and supplier welfare: the case of Wal-Mart, Journal of Retailing, 77(3), 96-379 Brodie, R.T., Motion, T. and Glynn, S.M., (2007). Sources of brand benefits in manufacturer-reseller B2B relationships. Journal of Business and Industrial Marketing, 22(6), 400-409 Buchanan, L., (1992). Vertical trade relationships: the role of dependence and symmetry in attaining organizational goals. Journal of Market Research, 29(2), 65-75 Cretu, A.E. and Brodie, R.J., (2007). The influence of brand image and company reputation where manufacturers market to small firms: A customer value perspective. Industrial Marketing Management. 36, 230-240 Dalglish, A., (n.d.). Five steps to a strong brand, Circle Research. [online] Available: http://www.circle-research.com/b2b-marketing-research/casestudies/documents/B2Bbrandingresearch_001.pdf (April 1, 2011) De Chernatory, L. and McDonald, M., (2003). Creating powerful brands in consumer service and industrial markets. (3rd ed.). Oxford: Butterworth Heinemann Ford, D., (1998). Business relationships in changing world, 14th International Marketing…

    • 4005 Words
    • 17 Pages
    Best Essays
    Read More
  • Satisfactory Essays

    Studymore. and its penis
    • 711 Words
    • 3 Pages

    Studymore. and its penis

    the overall brand value must be re-defined. ... Department of Trade and Industry (2002), Corporate…

    • 711 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    Marketing of Yoga: a Study of ‘Patanjali Yog Ashram’ in Bringing About the Pranayam Revolution
    • 5713 Words
    • 23 Pages

    Marketing of Yoga: a Study of ‘Patanjali Yog Ashram’ in Bringing About the Pranayam Revolution

    References: 3. Gardner, Burleigh B. and Sidney J. Levy (1955), "The Product and the Brand." Harvard Business Review, 33, (March-April), 33-9.…

    • 5713 Words
    • 23 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    Brand Management and Socio-Cultural Innovation: Is It a Myth or Reality for Performance?
    • 399 Words
    • 2 Pages

    Brand Management and Socio-Cultural Innovation: Is It a Myth or Reality for Performance?

    * Providing a context for guiding brand management and increasing customers’ and other stakeholders’ trust.…

    • 399 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Positioning: Marketing and Product
    • 2899 Words
    • 12 Pages

    Positioning: Marketing and Product

    the brand in the minds of consumers to maximize the potential benefit to the firm.…

    • 2899 Words
    • 12 Pages
    Powerful Essays
    Read More

Related Topics