1. Feasibility of the fast food dining business
According to the industrial organization analysis model, there are various factors the fast food dining business should consider so that it can gain a competitive edge in the very competitive and saturated market. Supply and demand are the first things the business should consider. They should first analyze the demand which exists, for instance, the number of customers who will be taking the coffee, fries, cakes or doughnuts and determine the number of raw materials, such as the amount of flour to be used to avoid wastage. The fast-food business has to consider the durability of the product, for instance, the number of days the doughnuts can stay fresh after preparation.
The fast-food business should come up with an industrial structure that will help achieve a competitive advantage. Considering that there are lots of fast food businesses in the region and the competition is high, the venture can consider vertical integration and product differentiation. In product differentiation, the fast food company will be providing a wide range variety of their products, beginning with what they will be producing, for example, producing biscuits and cookies, something that most fast businesses do not produce. In vertical integration, the fast food business can decide to be cooking cakes for events such as graduation, weddings, birthdays and other celebrations. It will enlarge the market and keep the company running in the face of competition (Peng, 2009, p. 7).
The way the fast food business conducts itself will be vital for the business. It will be determined by the pricing behavior, legal actions, advertising and research and innovation. The business has to ensure the satisfaction of the customers. The entry price should be less to attract customers and then adjusted along the way. To advertise, there should be offers provided, for example, giving out cupcakes for every one celebration cake bought. The business should be registered by the government and cleared by the health organizations, to show the customers that everything is safe for consumption.
The performance of the fast food business will determine how it will conduct its activities in the competitive market. Technology progress, for instance, the fast food business can incorporate technology in their operations by establishing about three computers, where the customers will be ordering what they want and get a receipt and then proceed to be served. It will reduce the lining issue which takes time. When employing workers, those in the location of the fast food business should be given the work opportunity as a way of fulfilling corporate ate social responsibility.
2. Gaming device makers
To capture the growth opportunities in the market, the makers of the gaming device have to conduct a market analysis to determine where they should perform best. According to the Ansoff matrix, the gamers should be able to understand how to develop their product, market penetration, extension and diversification, which will support sales growth. The product, in this case, is the gaming device and it should have superior features such as ease of use, in comparison to competitors (Bachmeier, 2013, p. 9).
Once the product is ready, the designer of the gaming product is ready for market penetration. It will be determined by several factors such as pricing and advertising. Various online sites can be used to market the gaming sites, especially the networking sites where most potential customers can access. Analysis of the competitors should be done, to help determine the best approach for takeover in the market. Coming up with game apps, for both windows and android phones, so that users can access it at any time can act as a competitive advantage. Ensuring that the gaming device has ease of you can also help attract more customers thus establishing a marketing niche.
Once the device has penetrated the market, it is necessary for development, for example, targeting a larger number of customers for more productivity. One of the considerations can be new segments, depending on the reception of the gaining device after penetration. The business can decide to venture into the most technologically develop international countries, with the aim of introducing the new product and converting the non-users to users. The main focus here is growing the business to attain more profitability and ensuring that customer satisfaction is achieved in the process.
The last step is product development to improve its performance in the new and existing markets. Since there will be new entrants in the market, the gaming device makers have to be on their toes all through, or their product would be faced with stiff competition to a point where it cannot perform anymore. The makers have to ensure that they conduct continuous research on their product and how to upgrade it so that it can be accepted in the new market and remain competitive. The new features that will be improved should move along with the changes in technology and achieving the needs of the customers to keep them satisfied and loyal to the product.
3. Challenges faced by digital marketing today
In the travel accommodation industry, there are various emerging challenges faced such as lack of online security, where the infrastructure may be interfered with, and it becomes hard for activities such as booking for tickets. Most customers are not aware of the digital travel accommodation thus do not use the services. There are ethical concerns facing the business such as access limitation issues, where not all the customers can be able to access the online travel surfaces, it may interfere with the privacy of the customers thus disclosing their data to predict who may be having other intentions. It may lead to chaos in case the customers do not get what they expected.
There are various e-commerce mistakes which are regularly committed in the market, thus hindering effective performance of the digital travel industry. Making a hasty decision which is costly may cost the business, and in the long-last, it costs the business which may even lead to failure. The business may end up neglecting the services of the customers by making empty promises. When the online tools are not tested, it may cost the business due to failure that might be experienced. There are high chances of the business failing to prepare for success and change in their operations (ITB Convention Market Trends, Innovations, Conrady and Buck, 2010, p. 13).
There are also obstacles faced when it comes adopting the digital operations in the travel industry. The internal factors are establishing the appropriate product having a clear strategic vision, resource availability and accessing a strategy for internet capabilities. There are various environmental factors which also hinder the operations, such as the technical considerations required by the customers and the extent of competition. Comparative advantage may lead to certain challenges as well, for example, choosing between modern and traditional competition, interaction, ethical consideration ad changes in technology which have to be adopted to ensure effective performance.
Bachmeier, K. (2013). Analysis of marketing strategies used by PepsiCo based on Ansoff's theory. Place of publication not identified: Grin Verlag.
ITB Convention Market Trends & Innovations, Conrady, R., & Buck, M. (2010).Trends and issues in global tourism 2010. Heidelburg: Springer.
Peng, M. W. (2009). Global strategy. Mason, Ohio: South-Western/Cengage Learning.
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