Marketing Plan For Grocery Markets - 1248 Words

Introduction There is an ongoing competition for grocery markets offering natural products for lower prices. Top competing grocery markets have followed trends to lower prices, but this may become a problem in the future. Customers may be concerned with the high costs of products; consequently they perceive these same products with lower values. According to BusinessDictionary.com, perceived value â€Å"Is defined as a customer’s opinion of a product’s value to him or her† (WWWebTek). Customers evenly match price with value. If the products cost is low the quality in the product will be perceived as a lower quality. Perceived value may be seen as three of the following levels: not enough value with low price, customer’s perceived value is†¦show more content†¦The problem remains that we struggle to maintain a competitive advantage, when stores like Sprouts, Costco, and Trader Joes continually lowering their prices meanwhile our prices remain the same. I propos e a real and practical suggestion that will fix our continuous struggle against our intrusive competitors, by improving our price perception. Overview Improving our price perception can fix our current conflict with our aggressive competitors in the market to sale natural foods. For a while our company has been referred to as â€Å"The Whole Pay Check†, because of our high prices for natural products (Npr.org). Unfortunately, we have been perceived this way because of our prices and that is something we aim to change. We must focus on improving our price perception instead of reducing our prices. As a company, â€Å"We recognize we need to move faster and go deeper to rebuild traffic and sales and create a solid foundation for our long-term profitable growth, said Mackey, who was recently named one of the world s best-performing CEOs by the Harvard Business Review†( Austin Business Journal). Our goals for the future demands a new change that we should definitely accept this proposal to improve our price perception rather than lowering our prices , which results in less growth and no competitive advantage. Analysis Our competitors also offer natural products, â€Å"And if everyone is offering organic food, and most are offering it at