Kings Supermarkets’ Growth Plan
Kings Supermarkets’ Growth Plan
Kings Supermarkets’ Growth Plan
Kings Food Market, commonly referred to as Kings, is a leading niche of new food brand that competitively plays in the American fresh food industry. Known for its fresh food brand, the company has 24 stores distributed in New York and New Jersey with a historic service line to the local customers for the past 80 years. The company has acted in its best ability to convince and serve its customers in the ever-changing food industry. The effect of the market shifts has pushed the company to relaunch its services under improved branding on several occasions with the latest being in 2011. The firm’s action and commitment are visible in the visual representation of its image. However, because of the current market changes, there is a need for the company to employ more techniques to exhume its shrinking market share and showcase its brand in a more exponential growth plan.
Current Growth Plan
Kings’ current brand is built on fresh food model. On top of fresh fruits and vegetables, the company has introduced fresh brand of pasta, sushi, cheese and pizza among other items in an attempt to convince its customers that all foodstuff in their stores are freshly prepared. In addition, it has expanded the variety of food items with a collection of over 400 different international cheeses. The firm’s investment in the chains of food items targets to reach many customers along with their varied preferences and tastes. Thus, the strategy is set to increase its sales and reduce risks of immovable stocks.
The company is also employing store diversification through station rebranding. The techniques include the introduction of eateries, bars, and online stores. The firm has invested in the creation of eating bars to serve franchises like espresso, cappuccino, and gourmet juice. The in-store services are open to customers who wish to eat from the eateries. The customers visit the bars for breakfast, lunch and dinner meals. The scenario also gives the customers firsthand experience with freshly prepared meals that also allow the company to collect direct feedback from its customers. The bars are complemented with an online delivery system that allows the firm to reach far-away or committed customers. Like any other firm in this technological age, the company takes advantage of the millennial influence to serve the younger generation away from the stores. However, this technique seems not to bare fruits as desired due to the high competition from big online stores like Amazon. Thus, the company has been forced to run logistic losses in free delivery, which continue to jeopardize its profitability amidst stiff competition.
Concisely, Kings has resorted to the creation of physical brand experience in its stores. According to its CEO, Judy Spires, the organization targets the creation of inspiring moments for its customers at the stores. The institution aims to earn customer experience through passionate meal creation exposure that would absolutely drive customers back to the stores. Their consistent brand experience is evident on the firm’s website on customers’ touchpoint. The technique bolds customer interaction and experience in a user-friendly interface. However, the current digit platform is immovable and not colligated to other social media platforms as its competitors do, and this limits their access.
Proposed Growth Plan
The current firm’s operations are ineffective since it does not remit desired income and growth. The company needs a more effective plan that would revive its customer experience, attract new millennial customers, and create an appealing brand through a distinguishable promotional communication strategy. The assessment of current operations by the firm reveals a sure commitment to grow in customer reach and revenue. The position is evident in the company’s relaunched brand that targets more customers through online platform. However, the branding is undermined by an unproductive promotional strategy that currently gives no clear purpose for customers’ commitment. Therefore, this study proposes a marketing growth strategy that would see the organization realize higher customer growth.
Attracting New Customers. Kings has an exemplified business strategy save for a promotional communication strategy. After the relaunch of the company’s fresh food brand, it embarked on digitalizing its operations with a keen interest in a supportive online store to boost its sale. The strategy review saw the company relaunch a new website that doubles as its online store. However, the firm has not managed to attract many new clients as desired. Thus, it should create a promotional communication strategy for its growth plan.
Promotional Communication Strategy. Creating an attractive and convincing marketing slogan would be the required groundbreaking tool for the company to achieve its goal of attracting new clients. In addition, an interactive online shop and partnership with other online stores would be a necessary complement for the strategy. The main objective of the growth plan is to design meaningful and valuable customer experience at first sight. The plan prepares the firm’s management to see things differently from the tangible physical store experience. Moreover, technological inclusion in business has become a necessary evil for survival and sustainability of the business.
Setting a Unique Selling Proposition and Brand Image. Kings require a clear unique selling proposition. Apart from naming its brand, the firm needs a single exponential brand identity through the eyes of its customers. The marketing plan must incorporate reasons for customers to buy its brand. The firm needs to makes its brand’s claim very specific. For instance, instead of using the USP, “Aline of signature favorites at an outstanding value we know you’ll love, with premium choices that can turn an everyday experience into a memorable event,” the organization can apply something short and specific. For example, USP could read as “fresh healthy choice that turns your everyday experience into a memorable event.” This proposed USP is specific, unique, and states the important benefits required by the customer. It outlines fresh, health, and experience as deterministic benefits to the customers. Thus, it is more attractive and associable with the company’s fresh brands.
By highlighting health and freshness of food, there is a considerable passion that would resonate customers with its brand. The USP will absolutely appeal to customers’ head and heart (Haygood 2). The marketing plan would boost the brand’s appeal and proposition to more potential clients. The composition will see an essential brand marketing tool for millennial customers. The firm also needs to move away from the popular fast food brands to a safe, healthy, and fresh food as the new image. There is an undeniable concern on the safety of food that influences the majority of customers’ choices. The new brand image will give the brand an image of food freshness and safety. In addition, the new changes will exemplify the firms’ inclusion of organic foods that are deemed safe health wise. Thus, the proposal gives the institution all reason to attract new customers based on the new expanded catchy image.
Creating an Interactive Online Store. Creating an online store is not an option for the company. The firm needs to have a more interactive online store that allows customers to make orders and view comments. Most new customers buy on commentary reference. By creating an interactive platform that allows successful purchasers to comment on their services, new customers would be satisfying new advisory need. Complemented with social media, the platform will give the organization a higher chance of winning new customers.
Partnership with a Trending Online Store. Majority of new customers are millennials who prefer online shopping as opposed to walking into departmental stores (Kapner 1). The trending online stores like Amazon have snatched away many customers from the brick and motor businesses, leading to the closure of many departmental stores. Thus, ignoring their influence in the market is an unsustainable risk which Kings should not take. As such, the firm needs to create a partnership with these companies to share the large online market.
Kings Supermarket has already put in place foundational measures for growth. The measures include designing a primary USP, creating a website, and introducing bars to give customers an opportunity to experience their fresh bands. However, the modern business trend does not work on basic lines. Good is never enough to compete in such competitive fresh food industries. Hence, the company needs to take measures of rebranding its USP as proposed, create an interactive online platform and partner with trending online shops like Amazon to share the larger online millennial market. Therefore, by observing the proposed growth plan, the company will realize the desired new customers reach.
Haygood, Daniel Marshall. “David Ogilvy versus Rosser Reeves and their “competing” advertising philosophies: the real story.” Advertising Management Decision Making, Part II. Durham, NC: AHRIM. 2007.
Kapner, Suzanne. How Kohl’s Is Succeeding Where Other Chains Haven’t. Wall Street Journal (Online); New York, N.Y. [New York, N.Y] 30 Oct 2018: n/a.
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