Ruth Chris had the following issues on hand; First, Dan Hannah had to decide which countries offer the greatest growth potential with the least risk. International businesses regularly offered opportunities for Ruth Chris but with strict selection criteria which in fact eliminated many of these business prospects. Secondly, the management team must agree on a standard development model and the decision of which mode of entry to use. Opportunities were evident for joint ventures or company owned stores in certain markets. Lastly but not least, Ruth Chris challenge was selecting the appropriate development model in conjunction with the management team but required additional information criteria in order to guarantee the future success of the organization.
This advantage is most especially important in the technologies sector, in which a definitive product of specific design or purpose sets the standards for which other organizations can find most difficult to match. Though designs may be similiar in style, the cause of entering into an untapped “arena” may provide unparalled precedence in the industry. Additionally, being a first mover provides the organization the ability to set pricing at whichever value suffices its tactical goals (primary goals), as well as an enhanced demand for a rather new and innovative product. However, the problem with being a first mover is actually based upon the contrary to what is mentioned above. Without prior market penetration of an organization’s competetitors, the usefulness and effectiveness of properly marketing a new product or service can be quite burdensome.
As PepsiCo and Riordan work in many areas across the world, understanding this helps define the different personal value patterns and effectively work toward cross-cultural teams to bridge the gaps. As PepsiCo continues development globally, somber issues arise as international commerce differs from domestic commerce. Given that an establishment working across boundaries must contract with the forces of domestic, foreign, and international power that persuade the existence, and expansion of a company. PepisCo issues include the controllable and uncontrollable forces influencing trade. These forces encompass raw materials, instant capital, and people.
We think that Tweeter must continue to position itself as the high value retailer and continue with APP strategy to maintain the current market share. However, Tweeter must modify the product offerings to stop the bleeding from APP program and at same time also focus on effectively communicate the strategy to the consumers. While it may be easier to change the product prices in short-term, but not sustainable in long-term for the limited resources and capabilities compared to the competition. Also such reactionary strategies will impact the brand’s positioning. As a first recommendation, Tweeter must reduce the overlapping products in lower end of the market that main competition, the larger discount retailers (i.e.
The ability to increase sales and stores in America relies on customers’ preference in buying JCP products hence; the strategy is subject to dealing with customers’ satisfaction first before addressing their expansion strategy. The ability to introduce more brands to the global market through the re-organization of the departments is seen to be a proper step to achieving the corporate strategy in globalizing the business. However, this would be hampered by stiff competition from the three major
Companies use differentiation to make their product unique and one that will catch the consumer’s attention. As it was said in the text book that being unique in today’s market is very difficult because there are imitators that follow what you have done or you yourself is following what some else has done in the past. The text book explains that positioning is the way the customers think about presented brands in the market. Without knowing what the consumer is thinking or feeling about the production being offered it is hard to differentiate. The ability to position a product is critical when it comes to certain products that are very similar.
This can make expanding and growing very difficult and decisions must be mad wisely. When it comes to their products that are purchased around the world to ensure high quality, expanding may affect that quality, making it hard to supply a specialty product. Going public through an IPO, may change the very decision made that make their company special, or it may enhance their products by providing more resources. Acquiring another company in the same industry to help their company grow could cause increased financial stability or increase their financial burden. Kudler can merge with another organization in hope to expand while implementing their mission and values on that organization or that organization may hurt their reputation.
Task 1 The marketing mix is developed on four main elements known as Product, Price, Promotion and Place, but the marketing mix can also be extended by adding another three elements these are People, Process and Physical. Product – This is where a decision is made on what product or service should be offered to customers. This could also be improving an existing product or service, it is very important that technology based are updated as they may become out of date very quickly which would make them inferior to the competition. To create competitive advantage organisations may also use the product for brand naming, packaging and a guarantee that accompanies the product. Price – Price is a very important part of the marketing mix
The main problem with the evaluation tools and techniques when encountering the company issues was hard to determine. The group found many options could have been more urgent than others; it was necessary to really prioritize and stay focus on our main goal. When there is a short-term and long-term goal in mind, people can organize all options and determine which ones will get to the goal faster and easier. The stimulation was amazing because it allowed us to see how a decision could affect the company and what would be the best decision for the future. The review by Linda, the CEO was the final decision and though it wasn’t real, our decisions mattered and stimulated real company business in the management
Another example is affirmative action. Although many people have strong arguments against it, one thing it does provide is diversity. Affirmative action requires that there be a diverse group that works together to meet a common goal. Global business is another great example. If a company is wanting to expand their market to another country that has different cultures, languages or religious beliefs it must become familiar with these differences.