Analyzing Marketing Strategies to Win Back Customers

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Suppose a local independent bookstore has hired you to help its owner win back customers

lost to a large bookstore chain. Design and outline a plan to win back the store’s lost

customers and rebuild those relationships. Be sure to incorporate marketing concepts from

the course materials. [MO3.7, MO3.8, MO3.9]

In order to regain lost clients, the bookshop should use relationship marketing because it fosters

relationships that encourage repeat business. A huge bookstore chain is the local bookshop’s new

rival, thus, the owners of the independent store must ensure that their product pricing is

reasonable and that they offer sales to draw customers. A secondary sale coupon that gives

customers a 10% off coupon for their subsequent purchases after they spend $30 is another type

of discount that can be provided (Kurtz, 2016). This will encourage returning business and

strengthen the bond between you and your customers.

The independent bookshop can create a strategy for frequency marketing. For instance, a

consumer receives a free book or 50% off the next purchase for every ten books they buy from

the store. This would enhance the already established ties, boost sales to devoted customers, and

bring new ones.

A customer database including email and residential addresses should be developed to send out

promotional and sale material to customers. This will help promote the store’s brand and let

customers know about special events. The bookshop needs to advertise locally, statewide, and

online to attract more customers. Flyers in the local newspapers, billboards, and flyer distribution

at nearby schools, colleges, and universities are all viable options for local marketing. A TV

commercial on the local channel is also an option (Epstein, 2020). Once a solid customer base

has been built, viral marketing and giving friends and family discounts may also be beneficial

Building strong customer relationships could also be facilitated by hosting local activities, such

as cocktail hours with family and friends during the evening.

Assume you are the marketing director of a new restaurant that plans to open in six

months. Conduct a short nonprobability sample among your acquaintances to determine

(a) whether coupons would be a successful promotional tactic and (b) in what

circumstances coupons would be an inducement for repeat business and when they would

not. Report your findings. [MO3.3, MO3.4, MO3.5, MO3.6

A Facebook post is the first and quickest thing that sprang to mind for how to conduct a

nonprobability sample. I questioned my Facebook friends if they would be more inclined to visit

and try a new neighborhood restaurant if it provided a voucher for a discount. The majority of

the responses I’ve gotten have been “yes.” Some of the questions asked were the type of discount

being offered, whether it applied to the full bill, whether the beverages were included in the

discounts, whether it was a specific percentage off the entire dinner, and whether there were any

other limits.

In my opinion, offering a coupon on the first visit is a terrific promotional strategy for a new

establishment. The number of people the offer will appeal to and how many will be willing to try

it all rely on its characteristics.If the offer was for the full bill and there were no constraints on

the food or drinks, I think it would draw more customers. For the promotion to attract new

customers, pique their attention, and motivate them to return, it would need to run for two to

three months (Epstein, 2020).

It also depends on the cost of the menu; if the costs are excessive or unclear, customers are

unlikely to return, even with further discount offers (Kurtz, 2016). The menu, the caliber of the

food and services provided, and the class or kind of the restaurant should all be considered when

setting rates. Every restaurant needs to provide impeccable service and top-notch food to

succeed. Customers who are happy and satisfied always come back and stay loyal.

References

VALS™ | US VALS™ Survey | SBI. (n.d.). Retrieved from

http://www.strategicbusinessinsights.com/vals/presurvey.shtml

Epstein, L. (2020). The Pros & Cons Of Using Coupons For Your Business. Retrieved from The

Pros and Cons of Using Coupons for Your Business (investopedia.com)

Kurtz, D. L., & Boone, L. E. (2016). Contemporary Marketing (17th ed.). Boston, MA:

SouthWestern Cengage Learning

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