Customer satisfaction-does it offer a competitive advantage?
The changing demographics and lifestyles of Singaporeans, coupled with the competitive retail environment, have made retailers become more aware of the sophisticated needs of their customers and therefore, the need to tailor their marketing strategy accor...
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Main Authors: | , , |
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Other Authors: | |
Format: | Final Year Project |
Language: | English |
Published: |
2014
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Subjects: | |
Online Access: | http://hdl.handle.net/10356/55592 |
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Institution: | Nanyang Technological University |
Language: | English |
Summary: | The changing demographics and lifestyles of Singaporeans, coupled with the
competitive retail environment, have made retailers become more aware of
the sophisticated needs of their customers and therefore, the need to tailor
their marketing strategy accordingly. Typical shoppers of the 1970s, who
were considered to be especially brand loyal and value conscious, have now
given way to several demographic groups with diverse spending habits.
Indeed, these "new breed" of consumers are brought about by the greater
flow of information and higher standard of living, generating higher levels of
expectation. Consequently, the current trend amongst retailers or grocery
chains is to react quickly and move aggressively to "niche marketing" to
cater to their customers.
An important facet of this movement includes broadening the services
available to consumers. In a grocery retailing front, fresh supplies such as
fish, meat, vegetables and fruits as well as delicatessen and bakery units
proliferated in supetmarkets during late 80's, as did, the availability of
nutritional information. With changing consumer demand not only dictating
a broader variety of products, supermarkets also aim to improve greatly on
their levels of services, such as store layout, customer service, queuing
time, accessibility and parking.In view of the above, the objective of this academic exercise is to examine
how a supermarket chain in Singapore like Smart Supermarket (S) Pte Ltd, is
able to capitalise on such a trend by supplementing it with better customer
service and fmally establishing a foothold in the competitive grocery retail
market.
From the detailed case study modelled after the strategic management
process, the authors gained an invaluable insight into how Smart
Supermarket (S) Pte Ltd substantially altered store formats and product mix
to maximise selling oppmtunities. These strategies changed and gave way to
a more flexible, market-oriented approach that is essential to satisfy the fast
changing consumer tastes. |
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