STP, PRODUCT MANAGEMENT & SITUATION ANALYSIS
[Name of the Student]
[Name of the University]
Running Head: ASSIGNMENT 1
STP, PRODUCT MANAGEMENT & SITUATION ANALYSIS
Introduction
While marketing any product, the most important thing to be identified about the customers is about their demographic as well as psychographic profile. This profile can help a lot in getting to know about the real thinking of consumers and then presenting the market offerings accordingly (Gunter & Furnham, 2014). This paper will describe the development of customer demographic profile along with how it is managed with customer relationship. For showing an appropriate message to the consumers, most companies have clear demographic profiles of the customers that can develop a strong sense of relationship among the company and consumers. This assignment will focus on developing the demographic profiles of people for which the ketogenic food is provided in the target market.
Discussion
This section will analyze the psychographic and demographic profile of target customers for the ketogenic diet business. The current chosen product is ketogenic food which will be served for the target market of Las Vegas, NV. This is the area which is located in a fast - paced city so there are a lot of people coming day and night. A large number of customers coming to the restaurant is familiar with the ketogenic food and their preference include it. Further, among ketogenic food eaters, the gender preference can be given to both the parties. People belonging to any gender can have this and this is equally beneficial. However, mostly it is not preferred by children because they have a high level of energy and they want something that can cope up with their body metabolism (Akehurst et al., 2012). Another element of demographic profile includes age group. This is commonly preferred by the people who are young and care for their body or the ones who are in the later part of their age. for children, it is difficult to take keto food when they have other options of fried chicken and waffles.
Taking on a diet that only consist of keto food is a challenging task. However, the area of Las Vegas has that complete breeze of keto food going on where everyone is switching towards it. The important thing that these people keep in their minds is that it is important to make the body hydrated when anyone is taking keto food. The psychographic profile of people taking in keto food consist of some pretty essential points. These people prefer taking food with fewer carbs and high amount of fat which makes their body enter in ketosis that is a state of metabolism. This is basically the mechanism which makes it effective to burn more fats in the body. Although there is less research conducted on keto food. However, there are few people who fail on the keto food. This is because people restrict from taking a few fruits and vegetables, most of the carbohydrates and all types of sugary products.
The demographic profile is created with the help of analyzing the characteristics of the customers coming to the restaurant (Awad, 2011). This is determined by the area and how people prefer the feed which is being served. The people in Las Vegas are belonging to different nationalities. Most of the people are Americans but people from all over the world come to this place. The basic target of this restaurant is to have ketogenic food.
There are different types of tools used for developing the profile. There can be multiple personal characteristics that can help in categorizing consumers. Most of these characteristics include the age groups, income level, gender as well as marital status. So, the income level of people coming to the restaurants in Las Vegas is high because this is the region where people come from developed regions. Most of the people are employed whether they are females or males. In gender preference, the company will be targeting both genders. This marketing in the demographic profile will help in identifying the real state of the customer and then important decisions can be taken in the marketing process by the help of this. With the customers of this profile, the keto restaurant can work their marketing strategy to promote a new business line.
The second one is the psychographic profile in which the market segment lifestyle and personality traits are observed. The people who want to make their body go through the process of ketosis will prefer this type of food. The research about the psychographic details and this state of mind in the consumers can help in carrying out promotional and advertisement campaigns accordingly. The people in this region have been observed to purchase this type of food from other restaurants as well. This is a product to upscale the overall appeal to the market.
In this modern world, the marketing campaigns are formulated according to the preference of customers so that the relationship can be maintained effectively. There is a customer relationship management system known by the name of CRM and this is very helpful for the companies to have a customer segment with high attractiveness (Suman & Gupta). This is a powerful technique for marketing which can be used for involving customers in the process. There are multiple upgrades in the software of so that information can be obtained and treat customers in a better way. The revenue system can be managed properly by the help of this and this can help in depicting better opportunities for following the trends.
There are different CRM tools and some of them are commonly used for the companies which can manage all the data about consumers. The first tool here is HubSpot CRM. This is a reliable system which works according to the preference of the consumers. This has a positive effect on the profitability of the business. The business can cope up with everyone coming to the business. It has two alternative options, one is on the premise and the other is cloud - based. There are many unique elements about it. The first one is that they can offer a lifetime package with the help of end – to – end management of pipeline.
The second type of ZOHO CRM. This is the solution for customer management which can help in improving the management of the company and customers. This has a high level of productivity which can be customized according to different types of consumers. This makes it best for the ketogenic restaurant in Las Vegas because people with different demographic details and belonging to different areas come here. There are specific business characteristics in this process which can help them in adapting the business and collecting better data about the consumers. There are many unique things about this system. This can help in automating complete system by providing better forecasts for the current and future performance. This can also be integrated with social media to understand consumers in a better way. The inactive consumers are targeted again and again so that the retention of customers can be improved. This tool can be fully controlled with mobile devices. So, this complete system can be used for managing consumers.
Conclusion
This paper presented the demographic as well as psychographic details about the consumers. These tools help consumers in many ways so that the customers can be presented with everything they need. Further, it also explains some of the CRM tools which can be used for managing the consumers along with the integration of social media. Overall, there are complete details about how to manage a keto food restaurant with the help of customer demographics and CRM tools.
References
Akehurst, G., Afonso, C., & Martins Gonçalves, H. (2012). Re-examining green purchase behavior and the green consumer profile: new evidence. Management Decision, 50(5), 972-988.
Awad, T. A. (2011). Environmental segmentation alternatives: buyers' profiles and implications. Journal of Islamic Marketing, 2(1), 55-73.
Gunter, B., & Furnham, A. (2014). Consumer Profiles (RLE Consumer Behaviour): An Introduction to Psychographics. Routledge.
Suman, P., & Gupta, S. A REVIEW PAPER ON CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES. SUSTAINABLE COMPETITIVE ADVANTAGE THROUGH INTEGRATED MARKETING APPROACH, 206.
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ketofoodCRM.docx
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