What Does Disney Do Best to Connect with Its Core Consumers - Assignment Example

Disney Case Study What does Disney do best to connect with its core consumers? Disney has many marketing strategies being used to connect to its core consumers. These strategies are considered to be the best for Disney to cater its market in any possible way. For many years, Disney has been one of the largest companies which have many business segments. Hence, one of the business strategies that Disney used to connect to its core consumers is segmentation (Bui, 2012). Bui (2012) stated that Disney uses different types of segmentation. These are geographic, demographic and psychographic, or better known as “multi-segment targeting” (Bui, 2012). Obviously, Disney’s main target markets are kids. However, the company caters not only the kids but the whole family, as well. Disney believes that adults used to be kids at one point in their lives (Bui, 2012). Second, strategy that Disney used according to Bui (2012) is to know and understand the market. Disney makes a connection to its core consumers so that the company can build a relationship to them. In that way, Disney can provide their core consumers different products and services to their own preference and satisfaction. Hence, it connects to the next strategy which is product strategy. In product strategy, Disney connects to its core consumers in a way that their products are “based on delighting the customer” (Bui, 2012). Since Disney has many business segments, Disney caters their core consumers by innovating and continual modernity in their products and services to provide better quality to their target consumers while attracting new customers. In addition, Disney uses effective marketing and promotion strategy to build loyalty to their consumers like social media and conventional media (Bui, 2012). Lastly, Disney’s best way to connect to its core consumers is through expansion (Bui, 2012). Since Disney always looking towards expanding their business in different segments, it also expands their market. As what Bui (2012) said “Disney is a master at building synergy between its businesses.” 2. What are the risks and benefits of expanding the Disney brand in new ways? Disney has always been into exploring new ways in giving their market the quality and satisfaction that they are looking for. Expanding the Disney brand in new ways is not a surprise for this company. Though these expansions provide risks, there are also benefits that the company can have. According to Nahid (2012), the benefits of expanding Disney brand in new ways can attract and gain more customers, increase business’ revenue, develop new process, globalization, and provide quick service delivery to the customers because of the technological change. Hence, expanding Disney brand in new segments can obviously attract more customers at the same time can cater their needs and wants to different aspects. In that way, it can add revenue to the company, as well as provide faster accommodations to the consumers with the help of modernized technology. On the other hand, there are also risks in expanding Disney brands. It can affect its brand consistency, high costs, requires excessive research and development at the same time constant upgrading, needs high investment and it will give a high risk factor in the company (Nahid, 2012). References Bui, D. (2012, May 14). The best of Disney’s marketing strategies. [Web log post]. Retrieved from http://www.saleschase.com/blog /2012/05/14/best-disneys-marketing-strategies/ Nahid, N. (2012, November 11). Organization case studies. [Web log post]. Retrieved from http://www.goversity.com/organization-case-studies/ Nordstrom Case Study 1. How else can Nordstrom continue to provide exceptional customer service and increase brand loyalty? Nordstrom is known for its exceptional customer service. For Nordstrom to continue providing extraordinary customer service and even increase brand loyalty, they can apply different strategies. Though this company already has one of the best customer services among other businesses, there are other ways for Nordstrom to continue such services. One of these ways is to prepare the employees on how to deliver exceptional customer service by exceptional training, as well (Evenson, 2011, p. 5). It can help the company continue its good quality customer service if the employees are well-trained in providing such. In addition, providing incentives and additional benefits for career enhancement to the store employees can make them work better. In that way, they are more happy and kind in handling their customers. A good quality store staffing can result to a good quality customer service and increase brand loyalty, as well. Also, one of the factors that should be considered in store staffing is revenue. As what the statement affirmed by Evenson (2011), employees should be trained in order for them to give the customers exceptional customer service at all times that can lead to brand loyalty (p.5). Thus, it would result to an increase in revenue. This store staffing also reflects on the hiring policy of the company. Therefore, hiring good employees should also be one of the aspects that the company should focus on. In relation, the company can continue giving exceptional customer service and increase brand loyalty if it can also treat employees with respect. In that way, the company will have more loyal and talented staff that will represent their company/brand to the customers. Hence, thorough training, as well as handling and managing them well, can incorporate good impression to your staffs and employees, and this will result to an exceptional customer service and increase brand loyalty to your customers (Evenson, 2011, p. 6). 2. What are Nordstrom’s greatest risks, and who are its biggest competitors? All businesses face risks along the way. Nordstrom is not an excuse to that. There are significant risks that are cited for Nordstrom. According to Singla (2010), businesses that are prone in seasonal changes, like Nordstrom, can face greater risk when it comes to the nature of the business itself (p.122). As we all know, this company is seasonal in nature; there are times that they will have high sales during holiday seasons. In addition, the company also increases their sales during their anniversary. These seasons are usually in the second and fourth quarter. However, the company is prone to greater risk once these times are over, which can result to a lesser profit. Further, economic causes can bring greater risk to the company (Singla, 2010, p. 123). Once there is an economic change that would take place in the market, the buying behavior of the customers will be affected. It can affect the customers’ way of spending their income and their preference in buying things. Moreover, there are well-established competitors that Nordstrom have in the fashion specialty retailer. These are “Macy’s (M), Saks Inc. (SKS), Stage Stores (SSI), and Dillard’s (DDS)” (“Forbes Earnings Preview: Nordstrom,” 2012). These highly intense competitors in the specialty retail sector can affect the company’s margin since the competitive conditions in these businesses are extremely sensitive. References Evenson, R. (2011). Customer service training 101: Quick and easy techniques that get great results. United States of America: Amacom Div American Mgmt Assn. Forbes earnings preview: Nordstrom. (2012). Retrieved from http://www.forbes.com/sites/narrativescience/2012/02/14/ forbes-earnings-preview-nordstrom-3/ Singla, R. (2010). Business organization. Delhi: J.N. Printers. Read More