Marketing 2300

Consumers today have a lot of options. With the rapid development of ecommerce, customers can make their decisions from the comfort of their own home. If they have the desire, customers can find a product that meets their specific needs. The rise of ecommerce has also benefited businesses. Businesses can specifically target consumers for their product and increase their sales. The key is to know what specific customers to target to get the maximum utility out of your marketing budget. Knowing what market to target can help adjust your business to become more suitable to them. Many fast-food restaurants saw that their customers wanted their food delivered, so companies partnered with DoorDash, Uber Eats and Grubhub. The customers that use the food delivery service are those that can afford to pay a premium for the food. A large corporation McDonald's has many customer bases. With many different product offerings and business partnerships they are able to cast a wide customer...

The business world is often described to as a "dog eat dog" world. This is true for the most part. Companies are constantly competing for your attention and marketing is the link to those consumers. To differentiate themselves, businesses must analyze their competitors to view potential opportunities in the market. There are usually three different types of competitive markets: monopoly, oligopoly or pure competition, and monopolistic competition. Each situation is different and marketing your company depends on the environment you are in. Using the proper strategy will lead to a successful marketing campaign. Monopolies are rare in today's market system. This is where one firm completely controls a broad product market. The often face a large amount of government rules and regulations they must follow. Usually these companies are those that supply water or electricity. The prices are usually approved by a government agency. An example of a company in this is Nicor o...

It is no secret that different age groups must be targeted in different ways. Baby boomers, Gen X, Millennials and Gen Z all have different interests and social values. To run a successful marketing campaign, you must know how you are going to target your specific target market. Baby Boomers are people born between 1946 to 1964 and make up a large portion of the U.S. population. Because of their size, if baby boomers are successfully targeted, your business will do well because of it.  For a company such as Camping World, they would target to baby boomers with photos like this on their website. This photo shows a Baby Boomer enjoying quality time with his grandchildren using products purchased by Camping World. A specific product Camping World would target to this group would be RVs. Gen X are people born between 1965 to 1977 and make up a smaller portion of the population than Baby Boomers. This group is made up of mostly parents and spend a considerable amount of time and mo...

According to data from the National Restaurant Association, the fast casual is forecasted to generate $246.7 billion in food and beverage sales in 2019. With many large competitors such as Panera, Chipotle and Panda Express, companies must differentiate their marketing tactics and come up with a unique marketing strategy. Jimmy John's has done just that. With unique commercials and casual  social media campaign, Jimmy John's marketing strategy is one of the most unique ones out there. Although TV advertising may have lost popularity in recent years, Jimmy John's has used the platform very effectively. Television commercials was a way to differentiate themselves from their competitors. The commercials often showed their "Freaky Fast" delivery services and their in store quick service. Jersey Mike's and Chipotle do not have the same reputation for funny commercials that Jimmy John's does. This has allowed them to create a cult-like following and a larg...