Myra is prepared to make improvements in the areas of scheduling, supply ordering, inventory management, customer knowledge, and marketing. To better serve her clients and to maintain her business position, Mrs. Morningstar has employed the help of a System Analyst who will be working closely with Myra to implement a Strategy for Competitive Advantage and a Business Process for Improvement. The evaluation of the business should help determine how the business operates and determine a strategy for competitive advantages to boost revenue over the competing businesses. Five Forces Analysis Buyer Power is strong when the customers have many options for what they are wanting to buy, and in turn can drive the prices down. When the buyer power is low the customer doesn’t have many options and will pay what the current price is for the product.
We absolutely must improve our service and support. In the next few pages I will propose a plan to improve the overall ratings of our customer service in stores and online. Proposal to Improve Customer Service When we talk about customer service we all remember that one instance that was either good or bad, most of the time, it was the bad service that we remember. Our society today is fast-pace and most people, especially those in the retail field, do not have enough time to spend with each individual customer. Most companies have cut the sales force because of the unstable economy.
From the moment Tom was in charge of the company he focused on increasing the companies profit margin. This was not an easy job being that the company’s main products are considered commodities. Aside from that the partyware industry is constantly gaining new competitors that capture the market with similar products at lower prices. Tom Rose is currently faced with two marketing strategies that could be considered industry game changers and greatly impact his business. The original strategy is the launch of a brand line for Rose Partyware that will showcase a new printing technology that will improve quality and reduce costs.
Thirdly, to resolve the issues of a widening customer demographic and unclear brand perception, Starbucks could engage in a promotion to encourage their most loyal customers as well as new business through promotions such as a free cup after “X” visits or a “club card” that encourages repeat business. For all three of these solutions, Starbucks would want to enact these solutions as quickly as possible due to the threat of eroding their brand perception. See Appendix C for rejected alternatives. Rationale for the Recommendation Adding labor hours is our first recommendation. Interestingly, Starbucks faces a unique problem since they are actually improving their service yet the customers are still not necessarily recognizing the progress.
Topic: Experiential Retailing Companies and consumers alike understand that it is obsolete to simply stock up products on shelves and expect it to sell well. Over the years, companies have implemented the use of marketing strategies and advertising with the goal of increasing sales. One such tool that has been gaining popularity nowadays amongst retailers is experiential retailing. Experiential retailing, according to Healy, Beverland , Oppewal and Sands (2007) is a strategy that is utilized in order to transform the products and services alike into a consumption experience for the consumers. It seeks to satisfy the emotional and hedonic needs of the consumer as well as their functional needs, whilst seeking to capture the brand’s essence in the process (Kim, Sullivan &Forney, 2007).
MHC Case Study BUS680: Training and Development Dr. Katie Thiry March 24, 2014 MHC Case Study MHC’s Marketing Position Strategy MHC is moving in the right direction as it pertains to creating a sound strategy which will bring about profit and value to the company. Understanding that the company is consistently losing money was the first step to realizing that the company needed a new strategy in place. The company understood that the technology needed to be upgraded and were able to put a process in place that would enable it be competitive and marketable. Lastly, the institution looked to improve its efficiencies in basic health care and outpatient services. “The second prong of the strategy was directed toward the hospitals and was focused on improving efficiencies in basic health care and outpatient services” (Blanchard & Thacker, 2013, p. 51).
How to expand its product reach and close the gap between $6-$8 million and 25 million? ……………………………14 6.1 Why we need to enter the retail store? 6.2 How to enter the retail? How to increase the revenue? 6.2.1 New Brand/Product 6.2.2 Retail Cost reduction 6.2.2.1 one is the order point and inventory cost 6.2.2.2 another one is the waste of internal cost, such as transportation cost 6.2.3 Direct selling cost reduction 6.2.4 Building up the corporate image and value is vital to the success of firms.
Product differentiation is a major part of new entrant’s struggle to gain market shares, much because of CC and PC’s strong brand name and consumers brand awareness. Other barriers to entry are also present, such as the incremental efficiency improvements CC and PC has made after being long-time, major market shareowners. Limited access to distribution channels can also keep new entrants from growing, as both CC and PC has built strong relationships with concentrate producers, bottlers, retail channels, and suppliers. Power of Suppliers First, we need to have a look at what the suppliers provide, which in this case is plastic
Although it not always brings surprise to the fasting changing business world like new technology, it is crucial not only to the GDP and also important to everybody’s daily life by always being with consumers. It is worth to look into the retail industry in different aspects when facing the big economic depression and think of the possible future in the fasting changing business environment. The retail industry of the United States plays a leading role in the worldwide since the retailing companies that are based in the U.S. dominate on the global retailing stage and at the same time, the retail industry outweighs other industries within the States. According to the latest annual
The company has developed a strategic plan which enables the company to relocate the store shelves of Best Buy based on the behavior of the market. Best Buy has created niche segmentation to each store making the profit of the company grow bigger because of diverse target markets in each location. The company has also developed a reward zone program which allows the customers to earn points and receive gift certificate for future purchase (Pride, 2008). Resources and capabilities that allow the firm to complete important tasks are one of the strengths of the company. Best Buy is able to effectively manage the flow of its inventory that helps them complete the important task of having the right merchandise on its shelves for customers to buy.