Marketing Strategies Analysis of Apex Foods Company - Case Study Example

Marketing Strategies Analysis Introduction Apex Foods Company is one that has succeeded a lot in the contemporary world and this is majorly due to the manner through which it has engaged in different marketing procedures that has seen it do well. The major approach that Apex Foods incorporated was producing commodities of high quality and expensive at the same time. The major reason behind this strategy was ensuring that it got back its profits quickly by ensuring that only high-end people purchased the commodities. If an interested person decided to visit the company’s websites, he or she would understand and this is from the high prices that the company sets for its commodities. Despite this factor, it is also imperative to know that the company has retained and even accumulated a high number of customers that have remained loyal and this is owing to the appropriate customer service they get from the company and the long services that they get from these commodities. 1. Areas of Strength as compared to competitors There are many existing opportunities for disruptive innovation in this particular market and Apex has really integrated them and thus come out as strengths.. All these developments receive appreciation and are recognized as milestones in the contemporary technology environment. It is important to understand that coming up with a new technological marketing device in the company, such as a watch, where it is directly connected to the phone, the operator can directly hear the conversation between the seller, and the buyer has it leading in its industry. The connection is in a manner that the user does not require to get into the pocket to communicate with the head office regarding the pricing but rather just presses some buttons on the device and talks freely is a bold move that can revolutionize the technology world. This one disruptive innovation will work effectively in the contemporary world. Another strength is regarding the fact that the company has earned many loyal customers over the years and thus it is difficult for other companies to attract them. 2. Areas of Weakness as compared to competitors Competitors are very critical in any business. In order to understand the weaknesses presented by the company, it is important to put oneself as one of the competitors and show the various ways the competitor can beat Apex due to its weakness. If tasked with the role of bringing up a rival company, an effective strategy would ensure that the strategy was quite different from that adopted by Apex Foods. As opposed to Apex Foods’s strategy of marketing commodities to high-end customers only, the commodities produced would be of high quality but still sell them at a very low price. This may not look strategic and this is because people would think that this is a waste of resources. However, critically analyzing this move, there is the understanding that I would be aiming at selling the commodities in bulk. If I sold these commodities in bulk, it would ensure that there are many customers willing to purchase the commodities to a point that many of them would remain loyal and even look for other people to purchase them. This loyalty is what would earn me huge profits grounds that would be very competitive to Apex Foods. Several gaps exist with regard to Apex Foods’ marketing strategy and it is important to go through them in order to grasp the manner through which these can be overcome. One of the obvious gaps is regarding the target market. The fact that the company focuses on rich people is a factor that a company can exploit. Apex Foods does realize that the rich are the few in society and that the poor are the most and require commodities that are of cheap prices. There is a gap in the fact that the company does not have sufficient outlet stores in areas outside the United States. In Africa for example, the company does not have set up wholesale dealers. Wholesale dealers are important in a company for they offer a location where the customers can go for advice concerning the products. Moreover, the company executives get to understand the specific needs of the customers where they get to submit these recommendations to the change team. However, the company only has retail stores and despite the fact that there are prominent Africans that enjoy luxury commodities such as ones offered by Apex Foods, they end up foregoing since they do not get quality customer service. Ensure that the company does not discriminate areas owing to the nature of the location but ensure that all gaps that Apex Foods has assumed are filled effectively. This is important for it ensures that I get to handle a higher amount of customers. Moreover, one will get to understand the requirements of the people and this will lead to better relations between the company and them, the consequent of this is increased sales and large incomes for the company. 3. Specific Market Objectives for Apex One of the ways to distinguish the offering is through the brand name. The name of the product will be easy and classy at the same time. This is important because the ease in the name is factors that will have many people memorize it for the time that it hits the market (Botha 32). Having the name in a classy manner is another appropriate marketing motive and the reason for this is that people get to appreciate the value of the commodity even further. Moreover, in distinguishing the offering, Ensuring that the company representatives make up of new advertising means such as aggressive marketing which would lead to the company obtaining many customers who most of the times are got to by this method out of sheer ignorance. To ensure that the commodity gets to a large population and receives the amount of attention intended, it is imperative to have a strategic positioning in marketing. The best positioning in this case is quality positioning. This is where there is ensuring that the commodity will have high quality and not disappoint the customers because failure to impress will lead to lack of customer loyalty that is a basis for business failure. 4. The competitor that Apex should compete with to achieve marketing objectives Going through the marketing objectives that the company has, an individual gets to understand the best competitor that Apex should deal with in order to achieve its objectives. Several factors ought to be put into consideration when dealing with this and one of them is ensuring that the strategies are SMART. This means that the strategy must be specific and measurable. After this, there is the assurance that the plan is achievable and realistic. Finally, time is a critical factor to consider. With regard to the companies in the market, the best company to compete with is Oriental Brands. The reason is of all the other companies, it is the only one with a market share, distribution percentage resources closest to that of Apex. This thus makes it possible to view it from a SMART marketing strategy perspective. 5. Marketing Strategy for Apex Viral marketing is one of the modern ways of marketing that Apex can incorporate. This Method of marketing often involves the use of electronic media tools as a way of spreading news regarding various tools. Recent days have seen many people get into this method of advertising as it is easy and saves time and resources. However, various people have cited the negative effects of this method of advertising as compared to the traditional means of advertising. Looking at the two methods of advertising and analyzing them is important because it helps in understanding the best manner in which to market commodities. Without looking at the negative aspects that involve this form of advertising, it is vital to remain subtle when analyzing this method. Viral marketing is a credible way to replace all other forms of advertising and it is appropriate to review the various ways of doing this while still reviewing the benefits. Work Cited Botha, James. Introduction to Marketing. Chicago: Juta and Company Limited, 2009. Print. Read More