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Optimizing Pricing and Distribution Strategies for Camaldoli Organization

   

Added on  2019-09-26

9 Pages1845 Words392 Views
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INTRODUCTION:-The Catholic monks of the New Camaldoli Hermitage have lived the world apart in theinspirational majesty of Big Sur for half a century. They are all aware of the power of prayer andcontemplation. The big problem arises in their life which is a lack of proper management of themoney. They always face a deficit in their budget. In this assignment, we will study about thedifferent strategies for promoting their business of fruitcakes. Making appropriate strategies willhelp them in living their life without any trouble. Following different strategies can be adoptedby the Catholic Monks for effective positioning of their fruitcake in the market:- Target market for new Camaldoli Hermitage product:-Identify the potential target market is very necessary. The choice should be correct because thewhole success depends on their selection of target market. Our choices are influenced bydifferent factors: how our competitors served to the existing segments of the market. Fruitcake isliked by every individual. Promotion of the fruitcake helps in increasing its sale. So, it isnecessary to promote our product. (Frascaroli, 2013) Fruitcake is specially made for the childrenand young teenagers who are mostly like to use fruitcakes in their celebrations. As per theresearch conducted in past women are 52% of the whole population and consume 5% morefruitcakes in comparison to men. Following elements help us in commercial attractiveness ofeach segment which effectively targeting our product in the market:-1.Criteria size: - It is considered necessary for effective targeting that size of the segmentshould be large so that we can serve to more consumers at a single time. 1
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2.Money: - Selected segment should be profitable for the organization. Profits of anorganization should exceed than the cost of the organization.All this will help the Camaldoli Hermitage in creating an effective target market for their productwhich helps them in maximizing their sales.Positioning strategy and branding for Camaldoli Hermitage product:-Positioning is the procedure of implementing our targeting. Effective positioning strategiesshould be established by the organization; this helps the organization in building their brandimage in the eyes of potential customers. Following positioning and branding strategies can beused by Camaldoli Hermitage to position their fruitcakes in the market:-Using characteristics of the product or customer benefits as a positioning strategy: -The main focus of this strategy is the characteristics of the product. It illustrates differentvarieties of the product. This impacts the customers, and they would like to prefer morevarieties of fruitcakes as per their taste.Positioning based on Use or Application: - we can understand this strategy with theexample of Nescafe Coffee, which has positioned itself in the market as a product ofwinter. Such type of positioning strategy is utilized more for expanding the brand market.Positioning strategy based on cultural Symbols: - In a recent trend, most of theorganization introduced itself by using cultural symbols, this helps them in differentiatetheir products from the existing customers.2
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By using all these positioning strategies to their products, Camaldoli Hermitage positionsits fruitcakes different from other competitors who maintain its growth in future byenhancing the sale of the fruitcakes.Product strategy:-Product strategy is considered the life cycle of a product and the execution plan for its furtherdevelopment. Product strategy helps the organization to draw its focus towards the product orconsumer attributes. The product helps the organization in strategic planning and marketing ofthe product is done for identifying target potential consumers. Product strategy consists offollowing elements:-Product or service: - In this, we decide the product which we will offer to our potentialcustomers. For example - Camaldoli Hermitage produces the fruitcakes, they areengaged in this product by identifying the demands of the consumers.Customer value: - It is necessary for the organization to deliver the best customerservices to their potential buyers. Customer value proves very beneficial for theorganization. If organization produces fruitcakes of the best quality and provides thecustomer values to their potential buyers, this will lead the overall growth of anorganization. (Yuan,2012)It is necessary for Camaldoli organization to focus more on their product strategy which willultimately improve the quality of their offerings. This enhances its market growth and builds agood image in the market.3
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