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What are the Factors affecting mars to reach 2x sales from x sales? -…
What are the Factors affecting mars to reach 2x sales from x sales?
Marketing Strategy
Placement of the product on website homepage, category pages to increase exposure and attract more customers
Promotions or Discounts or Offers :to create a sense of urgency and encourage impulse purchases(points per purchase) (loyalty programs)
Work hand-in-hand with ecommerce sales experts to understand what's hot and how to get our products in front of more shoppers
Sales will be higher during seasonal events
Increasing customer through customer word of mouth
Social Media Engagement
User-Generated Content Contests
Interactive Live Streams & Events
Promote products within search results
Personalized Email Marketing
Promote products on relevant product pages
Identifying relevant celebrities or influencers with a strong online presence and brand alignment.
Subscription Boxes(based on customer preferences or dietary needs)
Product Design
Sustainable Packaging Options
Limited Edition or Seasonal Designs
Drive Excitement & Impulse Purchases
Partner with Artists or Designers
Competitors
Direct Competitors
Identify Key Players (e.g., Hershey's, Lindt, Mondelez International)
Analyze Product Offerings (Similarities & Differences)
Compare Pricing Strategies & Promotions
Evaluate Marketing Campaigns & Brand Positioning
Emerging Competitors
Monitor Industry Trends & News
Identify New Entrants with Innovative Products/Strategies
Analyze Unique Value Proposition & Potential Impact
Indirect Competitors
Snack Food Companies (e.g., Cookies, Chips)
Healthy Snack Alternatives
E-commerce Platform & User Experience
Responsive Design for All Devices
User-Friendly Mobile Navigation
Multiple Secure Payment Gateways
Website Analytics
Monitor Website Traffic
Track Bounce Rates
Conversion Rate Optimization
Logistics & Fulfillment
Temperature-Controlled Packaging
Delivery Speed & Cost
Offer Variety of Delivery Options (Express, Standard)
Free Shipping Thresholds
Minimum Order Requirements
Lower Minimums for Impulse Purchases
Offer Add-On Items to Increase Basket Value
Product Page Optimization
High-Resolution Product Images
Relevant Keywords in Product Titles
Accurate Product Descriptions
Expiry Dates Clearly Displayed
Transparency Builds Trust
Integrate system to automatically remove expired products from listings.
Inventory Management
Set Up Alerts for Low Stock Levels
Implement back-ordering systems to allow customers to purchase out-of-stock items with the understanding that delivery may be delayed until stock is replenished.
Inventory Clearance Through Repricing
Dynamic Pricing for Near-Expiry Products
Bundle Expiring Products with Discounted Offers
Customer Data Analysis
Gather & Analyze Customer Feedback
Surveys & Reviews
Social Media Listening
Identify Customer Segments
Develop Targeted Marketing Strategies
Personalize Online Shopping Experience
Reduce Customer Churn
Understand Why Customers Leave
Win Back Lost Customers
Loyalty Programs
Product & Pricing Strategy
Limited Online Availability
Competitive Online Pricing
Analyze Industry Margins
Bundle Deals : Selling 2 or more products together will revenue as well as customers can experiments on different flavors
Mars products can be used as a promotional item to generate interest in a new product or service.
Bulk vs Individual Buying
Offer Multi-Pack Options with Discounts
Clear Weight or Quantity Information
Data & Analytics
Understanding Online Customer Behavior(Track Customer Search Queries)
Personalization & Recommendations
Recommend Based on Purchase History
Utilize Upsell & Cross-Sell Techniques(Recommend higher-priced versions or complementary products at checkout.)
Optimize Marketing Spend