Not a finance but marketing question. Sorry could not find marketing option. Wou

Question

Not a finance but marketing question. Sorry could not find marketing option. Would be greatly appreciated if anyone could help. Thank you

ness to the ever U ngr rt Questions for Discussion 13-18 Describe Leader Price according to the different 13-19 As a retail brand, assess the Leader Price strat 13-20 List all the reasons why Leader Price has been able to 13-21 Would the Leader Price model be successful in your types of retailers discussed in the chapter respect to segmentation, targeting, differentiation positioning. IS , and compete with regular convenience stores country? What would have to be changed to adapt to your culture? Support your answer. How can Leader Price expand its selection of products in a way that will cater to more customers? 13-22

Explanation / Answer

Compared to the other retailers and businesses leader price follows the model of discount with quality. This is where it shines the most. Not only are the products at a more competitive price point, they are locally produced and it also includes international brands that have a loyal base of customers to add to their appeal. They go to great lengths to create their brand image even remodelling their storefronts and introduction of a new brand image and logo. This, combined with their approach to highlight the local market, their own brand and include favourite brands while giving the people with the option to shop for all the products that they need in one place has set them apart from the competition.

With respect to segmentation, leader price has divided all the products based on the categories that make it easier for customers to distinguish and identify, this includes their own brand, international brands, and includes targeting of different needs of the customers that includes baby products, house needs, products for people in sports etc. with this differentiation of the products into different categories based on the needs of the people, has allowed leader price to have only a selected range of product that satisfies all their needs. They also follow the strategy where they introduce products which are organically produced, their own local products that people favour and combine their own brands of product to cater to a large no. of different type of customers.

Leader price has competitive discounted prices for a large inventory of only selected products which are of their own brand. They have segmented the needs of the people and based their products on those needs. They have also allowed a carefully selected inventory that sums up all the needs of the people in one place, combined with locally grown products that people prefer and creating a brand image has set leader price apart.

The leader price business model will also work in my country. AIt has a customer base that lives locally produced products and has as many numbers of customers for locally grown products as there are of international brand products. People have the need for a selected store where there are a select number of items which cater to the needs of all the customers and at the same time, do so at a discounted price. They need to be able to expand the segment of local products that the people have a longing for. Since the people and the economy have an affinity for homegrown and local businesses, creating a special line of their products will allow leader price to solidify their footing in my country.

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