+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

Product Strategies and Customer Loyalty of Fast Food service firms in Port Harcourt

  • Type:Project
  • Pages:57
  • Format:Microsoft Word
(Marketing Project Topics & Materials)

The most important meaning of a product is what it means to the customer. Pen, for instance, may be a product to the manufacturer, but to the customer, it means a device for writing. What the producer considers as the consumer’s benefit may be at variance’ with what the consumer actually sees or perceive. Awa (2002) defined a product as anything one receives in an exchange transaction-a complexity of tangible and intangible attributes, including functional, social and psychological utilities or benefits. Tangible as used in the definition refers to the visible items (e.g. ruler) capable of offering attributes that satisfy the needs of the consumer. Intangible relates to the invisible but felt items such as services that satisfy the consumer’s needs.

A product strategy is the foundation of a product lifecycle, and its execution plan for further development. As firms develop their product strategy, product leaders zero in on target audiences and define key product and customer attributes. All great products start with a clear strategy that is customer and market driven. Strategy not only ensures that you work on what matters. It is also essential so that you can communicate what matters to our team and organization. The main purpose of a strategy is to provide the product manager with direction so they can guide their product team and manage the firm over the planning period. Strategies also help product managers communicate product’s value to cross-functional teams and key stakeholders, who want to know how products will achieve high-level business objectives. Product strategies can be a tool of competitive advantage and a crucial strategic marketing process, which is adopted by organization in order to provide products that, satisfies individual customer’s needs.  In satisfying individual customer’s needs, quality has become a major differentiating factor among variant of products (Shammot, 2011). As a result, customers are willing to pay more for products that cater for their individual size, taste, style, need or expression. According to Abu (2012), a firm may be able to differentiate its product from the product of its competitors and thus be able to establish a competitive advantage. His generic strategies describe how a firm pursues competitive advantage across its chosen market scope. There are three generic strategies; lower cost, differentiated, or focuses. The firm can choose to pursue one or two types of competitive advantage, either via lower costs than its competitors or by differentiating itself along dimensions valued by customers to command a higher price. 

Product Strategies and Customer Loyalty of Fast Food service firms in Port Harcourt

Share This

Details

Type Project
Department Marketing
Project ID MKT0922
Price ₦3,000 ($20)
No of Pages 57 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Marketing
    Project ID MKT0922
    Price ₦3,000 ($20)
    No of Pages 57 Pages
    Format Microsoft Word

    Related Works

    THE RELEVANCE OF ADVERTISING AS A DETERMINANT OF CUSTOMER PATRONAGE IN THE FAST FOOD INDUSTRY (A Case Study of Early and Chiky Fast Food in Owerri, Metropolis). ABSTRACT The research work titled “the relevant of advertising as a determinant of customer patronage for fast food (a case study of Chiky and Early in Owerri Metropolis was carried out... Continue Reading
    THE EFFECT OF PERSONAL SELLING ON MARKETING PERFORMANCE OF INDUSTRIAL PRODUCT IN PORT HARCOURT (A CASE S STUDY OF FIRST ALUMINUM EXTRACTION COMPANY PLC PORT HARCOURT RIVER STATE) ABSTRACT In our locality where the patronage of industrial product is common or high firm involve must devise means to keep their head water in term of sale and cost of... Continue Reading
    Background of the Study In any organization whether profit or nonprofit oriented the main purpose of the organization is to achieve its objective. The objectives cannot be achieved in a vacuum there must be a clearly set strategy that management should use in order to meet these objectives.  Sales promotion became an essential motivating factor... Continue Reading
    ABSTRACT The purpose of this paper is to examine the Poor attitude to work and its effect on productivity, a case study of university of port-harcourt teaching hospital, port harcourt. The past decades have been characterized by unpredictable fluctuations in workers poor attitude. Organizations are faced with poor level of attitudes such as... Continue Reading
    ABSTRACT The alarming rate at which fraud is being perpetrated in the business world has been a thing of great concern to the accountancy profession and well – meaning individuals in the society. This has given rise to discourses in the academic papers, etc. on circumstances that lead to fraud perpetration and ways of curbing this menance. A... Continue Reading
    PREFACE This study, attempted to determine the impact of product display in a fast food and bakery industry with specially reference to (Chito Partner, Enugu). The purpose of this study is to find out how the techniques applied by Chitos have been able to help customer sort the products needed and how bent to improve the technologies and modernize... Continue Reading
    THE EFFECT OF RECRUITMENTS, SELECTION AND PLACEMENT ON ORGANIZATIONAL EFFECTIVENESS A CASE STUDY OF SELECTED INSURANCE FIRMS IN PORT HARCOURT ABSTRACT The office of recruitment, selection and placement on organizational effectiveness in many firms we investigated upon and analyzed. The 60 respondents from 17 insurance companies in Port Harcourt... Continue Reading
    CHAPTER 1 INTRODUCTION 1.1       Background of the Study The business environment has become intensively dynamic and increasingly unpredictable in recent decades and,correspondingly, managing company has become more... Continue Reading
    THE EFFECT OF RECRUITMENTS, SELECTION AND PLACEMENT ON ORGANIZATIONAL EFFECTIVENESS A CASE STUDY OF SELECTED INSURANCE FIRMS IN PORT HARCOURT ABSTRACT The office of recruitment, selection and placement on organizational effectiveness in many firms we investigated upon and analyzed. The 60 respondents from 17 insurance companies in Port Harcourt... Continue Reading
    THE EFFECT OF RECRUITMENTS, SELECTION AND PLACEMENT ON ORGANIZATIONAL EFFECTIVENESS A CASE STUDY OF SELECTED INSURANCE FIRMS IN PORT HARCOURT ABSTRACT The office of recruitment, selection and placement on organizational effectiveness in many firms we investigated upon and analyzed. The 60 respondents from 17 insurance companies in Port Harcourt... Continue Reading
    Call Us
    Get this work
    whatsappWhatsApp Us