Supermarket brands provide people with a wide variety of options for meeting their shopping needs, with not only the specific types of products and goods offered, but by the unique level of quality and service to which those goods and services reach the minds of consumers. Over the years, these supermarket brands have maintained a firm and loyal customer base while consistently acquiring new ones, using various marketing tools; such as the four P’s of marketing. Offering benefits like, everyday low prices, loyalty rewards, and store credit cards demonstrate examples of how supermarket brands implement various marketing tools. Delight and devotion for a particular brand are one of the many things manufactures strive for and businesses value; combing that with reasonable prices and other incentives creates an environment for loyal customers develop.
Identify brand and explain why passionate about it In 1957, Dillon Co. purchased King Soopers Inc. from founder Lloyd J. King, who had started King Soopers Inc. in 1947, and by 1983, Dillon Co. merged with Kroger Co.; which now rakes in over $1.8 billion annually (The Kroger Company, 2014). King Soopers Inc. (KSI) is a supermarket brand to which passion and loyalty reside. Three things come to mind why passion and loyalty remain with King Soopers Inc., quality, convenience of location, and reasonably low prices. The first topic on quality is very important; (KSI) has always maintained a very high standard in regards to quality; from the freshness’s of their fruits and vegetable department, to quality standards in which those products and others are presented. Second, the convenience of locations is great; within a 3-5miles radius, there are at least 3-4 locations, and within a 10-12 mile radius, there are at least another 4-5 locations. Now, this third reason is the number reason (KSI) is desired over any other brand; low prices on nearly everything in the store, more importantly in what is purchased, seals the deal as to why King Soopers Inc. is approved by loyal customer.
Tactics used by King Soopers Inc. (KSI) in relation to the four P’s Product, price, promotion, and place, the four P’s of marketing, (KSI)’s use of the four P’s is both effective and efficient in meeting their marketing needs (Perreault, W. D., Jr., Cannon, J. P., & McCarthy, E. J., 2011). Through various examples (KSI) demonstrates how they use the four P’s. Product is the first P to be covered; every human needs and requires food to survive, (KSI) does this by providing quality food at very reasonable prices. Next is price, (KSI) deals directly with both farmers and manufactures to help ensure that both the quality and price of products bought and sold is fair and safe. They also do this to safeguard that neither quality nor price is compromised for sake of saving a few dollars. (KSI) worries very little about competitions pricing for two reasons; first they already have low prices and second, (KSI) matches any competitors price on the same item.
Due to all the advancements in technology , more specifically smart phones; (KSI) has adapted to changes by creating digital weekly sales ads, phone apps, and the traditional mail flyer. Occasionally, loyalty reward customers will receive additional coupons for products they regularly purchase. These examples all reveal the promotion marketing principle. The last of the four marketing P’s is place; as previously mentioned King Soopers Inc. (KSI) has numerous supermarkets just in the Aurora/Centennial area alone that are roughly 3-10 miles away from each other in every direction; that’s north, south, and west. Having so many locations in close proximity of makes it extremely easy for (KSI) to meet the needs of many diverse communities. (KSI) competitors do not operate in the manner as they do; and because of this (KSI) customer base is much larger and more diverse than that of their competitors. The four P’s of marketing product, price, promotion, and place, (KSI)s annual revenue proves when the four P’s are used correctly, success is inevitable.
Company success in building loyal customer base
King Soopers Inc. (KSI) is very successful in building loyal customer relationships and has been for the last 57 years; and now with the wide
array of cultural diversity in the local area, (KSI) has adjusted to these changes by expanding their product line in order to reach some of those needs of the international community. (KSI) offers everyday low prices to both loyal and non-loyal customers alike; however, customers who take the step of becoming a loyal customer receive much more than just everyday low prices. The greatest thing about (KSI) and their loyalty customer rewards is that anyone can sign up; there are no perquisites to receiving extra savings on top of everyday low prices.
Two Competitors in same industry
Two competitors who come to mind are Safeway and Albertsons; both of these grocer retailers have programs similar to that of King Soopers Inc., such as loyalty rewards programs and fueling stations. Supermarket Safeway is the result of a merger back in 1926, between small business owner M.B. Skaggs and Safeway, who in the past existed as Selig (Safeway, 2014). They also provide quality goods and services at low prices to, but not nearly as low as (KSI). In 1939, a man by the name Joe Albertsons opened a grocery store, and by 2006, Albertsons Inc. became Albertsons LLC due to the selling of some assets (Albertsons LLC, 2006-2014). Both of these supermarkets, including King Soopers Inc. began small and grew to become three major corporations in there industry.
The preferred choice is (KSI) for all the reasons previously mentioned. Some other factors include store layouts, product brands, customer service, and convenience of checkout. Their customer service department makes it easy to pay important bills, while providing tickets to major concerts and events. (KSI) carries all major food brands just like any other grocer; they also carry their own brand of nearly every major product in the store, called Private Selection. The Private Selection brand produces excellent products that match or beat the quality of major brands.
In Summary, King Soopers Inc. is a top notch supermarket providing quality service and products at a fair and reasonable price. They strive to meet the needs of there ever changing multicultural customer base by stocking food from there native land, and hiring many different diversities. (KSI) is great brand, with awesome products, superb service, and most of all, low, low, prices.
Albertsons LLC. (2006-2014). Albertsons – Traditions & History. Retrieved from Albertsons – You’re in for something fresh: http://www.albertsons.com/our-company/traditions-history/ Perreault, W. D., Jr., Cannon, J. P., & McCarthy, E. J. (2011). Basic marketing: A marketing strategy planning approach (19th ed.). New York, NY: McGraw-Hill Irwin. Safeway. (2014). Safeway – Our Story. Retrieved from Safeway – Ingredients for life: http://www.safeway.com/ShopStores/Our-Story.page The Kroger Company. (2014). The Kroger Co. – History of Kroger. Retrieved from Kroger: http://www.thekrogerco.com/about-kroger/history-of-kroger