MARKETING PLAN OF SHEFFIELD CUTLERY

Marketing Plan of Sheffield Cutlery

Abstract

Sheffield Cutlery is the company that designs and manufactures cutlery products. The designs are based on the customer's need. In this study, we try to explore the concept of Marketing Plan of Sheffield Cutlery in a holistic context. The main focus of the research is on “Sheffield Cutlery” and it's Marketing Plan. Sheffield cutlery will gain a loyal customer base through a customer-centric business model. This business model makes the customer's satisfaction the highest priority. Sheffield cutlery will leverage its competitive advantage of a customer-centric business model to rapidly gain market share in the custom cutlery niche. Profitability would be reached by month nine and yearly sales of at least $20,000,000.

Table of Contents

Abstractii

Introduction1

Marketing Audit2

Marketing Analysis4

Marketing Strategy6

Market Entry7

Market Positioning9

Contingencies and Control9

References11

Marketing Plan of Sheffield Cutlery

Introduction

Cutlery, in general usage, is the term used collectively for all types of cutting instruments. These include implements that are used for industrial, commercial and domestic purposes. Specifically, cutlery refers to utensils employed in the household like flatware utensils, including knives, spoons forks and other specialized implements, for eating and serving food. Swords, scissors, manicure and pedicure sets & instruments (Sheffield Cutlery Official Website, 2011)

Cutlery is broadly divided into two categories i.e. kitchen and table cutlery and non-kitchen and non-table cutlery. The general conditions in which companies in the cutlery industry can function cost efficiently have become increasingly fiercer in recent years due to growing internationalisation in the procurement and sales markets. The abolition of international trade barriers, the introduction of a uniform currency system in Europe, plus ever shorter product life cycles have all allowed new providers to penetrate the cutlery market. Diverse local conditions bring competitive advantages - e.g. cheaper raw materials, energy and labour costs, which frequently allow these providers to offer their products at a lower price than the traditional German cutlery producers can. As market barriers become less stringent and brand piracy increases, it can only be assumed that the market situation for European producers of tools and cutlery will become even fiercer in the coming years - much to the disadvantage of the traditional companies. In a conflicting area of increasing pressure in competition and costs on the one hand and limited resources on the other hand, the question arises in which value creation activities these limited resources should be invested - an issue which will assume more and more significance in the future.

Especially, in times of economic downturn a high rate of repurchase, a high customer loyalty and a positive company image are factors of success resulting from a high customer satisfaction. But how can companies achieve a high level of customer satisfaction in times of fiercer general conditions? For this purpose, companies must be able to differentiate themselves from their competitors by providing a high level of customer service and customer satisfaction in addition to maintaining the consistently high quality of their products. To develop products and services suitable for customers and to provide them a high level of ...