Hobart Corporation is focused on leading the "foodservice and retail equipment industry through technical innovation, operational excellence, superior customer service and unsurpassed value" (Hobart, 2014). They intend to do this by focusing on an 80/20 strategy, which means they concentrate on the needs of 20% of their strategic customers who generate 80% of the revenues for the company (Hobart, 2014).
Internally, Hobart has tremendous product and application knowledge and a broad perspective of the food industry (industribrand, n.d.). By putting this knowledge to work, the company is able to focus its ability to service the customer more effectively. Hobart developed a program to address subjects that customers care about that is aligned…show more content… Utilizing marketing knowledge has enabled the company to spread its product and industry knowledge. These marketing items serve as brand equity. Weaknesses include threats from domestic companies like Manitowoc Foodservice, known for high quality and less expensive products coming from overseas (Aaker, Kumar, Leone, & Day, 2011). Initially the marketing campaign was expensive; however, Hobart has been able to reduce its advertising and marketing communication spending 10-15% less in the last decade (industribrand, n.d.). This is a result of the company's long-term strategy of primarily focusing on its top customers, who generate the most revenue, while reaching out to the industry in a broad…show more content… Chefs buy Hobart equipment because they appreciate the experience and knowledge that the company provides. Hobart has developed a name within the supermarket, restaurant, and convenience store industry as the knowledge leader. Hobart's functional strategy of becoming the leader of industry knowledge is supported by its wide product offerings, knowledgeable staff, quality products and service.
References:
Aaker, D.A., Kumar, V., Leone, R., & Day, G.S. (2011). Marketing Research. Retrieved from http://www.amazon.com/Marketing-Research-David-A-Aaker/dp/1118156633
Hobart. (2014). Vision & Culture. Retrieved from http://www.hobartcorp.com/about-us/vision-and-culture/
Hoovers. (2014). Top competitors for Hobart Corporation. Retrieved from http://www.hoovers.com/company-information/cs/competition.Hobart_Corporation.da7f465fa8a141b6.html
Industribrand. (n.d.). Hobart: The difference between product leader and industry leader. Retrieved from http://industribrand.com/brand-story/hobart/
Ingram, B. (2010, May). Green machines. Progressive Grocer, May 2010 (48). Retrieved from