Threat Of New Entrants - P R - 998 Words

Threat of new entrants – PR †¢ Brand loyalty / plumbers tend to find a brand and stick with it. †¢ If plumbers do not have experience with PR brand they may find it too risky to change. †¢ PR Brand awareness is low for consumers. This opens opportunities for new competitors. Bargaining power of suppliers – PR †¢ Power of suppliers is low †¢ Manufacturing is done in-house at PR Bargaining power of buyers – PR †¢ Plumbers – distrust innovation / they tend to stick to a certain brand / they recommend products to consumers / consumers trust plumbers. †¢ Developers – are very much price orientated / many occasions don’t see the need for premium bathroom kitchen taps. †¢ Channel partners – Bought 1000 PR taps and only sold 100 †¢Ã¢â‚¬ ¦show more content†¦2.3 – Produce a structured evaluation of the organisational strategic position To increase its market share new product development is key – to attract new consumers clients. A good PR brand awareness strategy would require the improvement of brand consumer engagement with past, current and future clients. PR Retargeting efforts †¢ Retarget individuals with fundamental PR brand awareness. †¢ Retarget individuals who have previously visited the PR website. †¢ Possibly track users who have searched any of our product names. Prioritise PR social media engagement †¢ Build a ‘delightful’ PR brand experience. †¢ Improve customer engagement levels. †¢ Assist customers in becoming loyal PR brand followers. †¢ Engage in a two-way conversation between past, present and future customers. Making social media engagements with PR customers a priority would help the brand find loyal brand ambassadors who are keen in telling their vast social network about their favourite brand experience. With dedication and strategic targeting building a PR awareness strategy can result in increased sales market share. The brand and the products are unique in every sense; PR have a strong British engineering foundation coupled with design innovation which does produce the perfect mix. Bespoke handcrafted PR tapware stand ahead of all its competitors, all PR products are designed, engineered and manufactured here in the UK compared with other UK