Compare and contrast the marketing strategies used by Waitrose and Essay

Compare and contrast the marketing strategies used by Waitrose and ASDA in UK . How do they identify the needs of their customer - Essay Example The product should as well better the lives on the customers, who should always desire to come back for more; this keeps a business at a competitive advantage since it is capable of sustaining its customers. A marketing strategy should also be consistent such that, the marketing message remains the same. In this case, consumers will be certain of the product being sold. Hence, one should choose a certain appropriate market for his business and the marketing channels. In addition, a market for a business should be targeted such that, it is directed to the right customers. Normally, proper communication using right words attracts customers more; hence, an effective marketing strategy must be communicative (Hoos, 2010). Marketing strategies are inclusive of three forces, namely, competition, customer, and corporation. According to Jain, â€Å"a good marketing strategy should include a clear market definition, a good match between corporate strengths and the needs of the market and a su perior performance, relative to the competition in the key success factors of the business† (Jain n.d, pp 23). A good matching of the customer and corporation’s needs and objectives is important since it leads to a long relationship; however, competition must have an objective, for instance, the level of competition, which entails whether competition involves an entire market or a in a certain segment. Secondly, how to compete entails the means by which competition will take place, for instance, a product may be introduced to serve a specific customer’s need. Thirdly, when to compete involves a waiting for a certain time to penetrate into the market (Jain, n.d, pp 24). Therefore, according to Analoui (2003, pp 241), an effective marketing strategy should prioritize demands and wants of customers, identify a market for the business, select a marketing mix and drive the firm in to a competitive advantage. Marketing strategies used by Waitrose and ASDA in United Kin gdom and how they identify their customers Waitrose was founded by Wallace Waite, Arthur Rose, and David Taylor, when the self-service for product was introduced in 1951. However, it operates as a grocery retailer in the United Kingdom, and it is aimed at providing the convenience as supermarkets do, in terms of services and products that are of quality, value, and fresh and in variety. Waitrose mainly deals with food and drinks and targets the upper market, providing variety of their fresh and quality products. However, Waitrose faces competition from related firms like the Tesco; this is due to Waitrose’s high prices, while consumer are capable of buying groceries in any place as long as the prices are friendly and the groceries are fresh. However, one of the strategy Waitrose has adapted in order to attract and sustain customers is product differentiation and delivering product of high quality (Addidas 2003, pp 5). According to Chadwick et al, (2007 pp 14), Waitrose acquir ed 40% in LMS e-commerce grocery business to expand its online service. Due to technology, the online service was effective and able to serve customers anywhere in terms of home delivery of groceries