Sunday, July 28, 2019
Marketing of Chicago Cutlery, Dexter-Russell, Cutco,and Emerils Research Paper
Marketing of Chicago Cutlery, Dexter-Russell, Cutco,and Emerils Cutlery - Research Paper Example It is evidently clear from the discussion that Chicago cutlery was established way back in 1930. The business venture offers knife conditioning service to professional butchers and packing plants. Initially, knife conditioning was their main specialty, but when the demand for sharp knives increased, the business venture (Chicago cutlery) introduced a knife manufacturing business for the meat and poultry industry. Back in 1969, Chicago cutlery also ventured in the retail market with professional cutlery. They designed knives to cater for increasing demands of professional knife users. The knives were also available for home use. At the present, Chicago cutlery brand is owned by world kitchen, LLC. Market segmentation is to identify and profile distinct groups of knife users who might be having homogenous characteristics or needs, and hence, prefer varied genres of knives. Market segments are identified by Chicago cutlery by identifying, notifying and examining demographic, psychograph ic and behavioral differences among buyers. The firms then decide which segments present the greatest opportunity and whose needs the firms can meet in a superior fashion. The cutlery firms also aim at one or more market segments to cater for their needs. For each chosen target market, the firms develop a market offering. To satisfy the needs of the consumers more successfully and reach them in the most effective and efficient way, the cutlery firms identify groups of customers or potential customers with homogeneous characteristics or behaviors and try to adapt their service as much as possible to the unique needs and desires of the segment members. They identify and profile distinct groups of knife lovers who might have the same needs and hence prefer varied genres of knives. Having defined their market that: they need to supply knives to the meat and poultry industry, as well as a house, holds, the cutlery firms then go ahead to design knives for specific usage. The company has s egmented the market according to the needs of the customers. The world kitchen manufactures and markets branded consumer bakeware, dinnerware, kitchen, and houseware tools. Their cutlery products include well-known brands such as Corelle, Pyrex, Corning Ware, and Chicago Cutlery.