Negative: Kind of Profiteers will be at a lower price to buy local art goods sold at a higher price abroad, it makes a huge difference prices between in Indian art of local and international market. Identify the 5-forces of the industry environment. How is Saffronart.com positioned relative to each of them? Art industry is profitable, because most forces buyer power, supplier power, threat of new entrants, the threat of competition, the lower the threat of substitutes. Low and medium buyer are some of rich people who are consider they are social status among elite individuals of social important.
Outsourcing brings proven benefits in the form of economic leveraging, increase in the quality of products and it provides a number of opportunities to less developed countries. For example in recent times, Americans are overwhelmingly supporting the major retail stores like Wal-Mart, Target and K-Mart. The reason behind this consumer loyalty is that it has become much easier to shop at these locations rather than the local mom and pop stores located on the corner of most neighborhoods. The benefit is that you can purchase everything on your shopping list from one location, saving you time, money and gasoline. In a highly competitive business world, on a firm’s priority list is the subject of increasing profit and reducing cost.
Project 2 Methods of Sale Private Treaty Auction Tender Auction Many people go for Auction because roughly 90% of agents will recommend it if you don’t have another preference. Agents prefer Auctions because this is the easiest and fastest method for them to make a sale and get their commission. Many sellers also choose Auction because they hope they can get a much higher price than the property is really worth. This is rarely the case. The truth is that properties that do well at Auction would have sold well with any method of sale (provided you have a skilled agent representing you) because they are usually very good properties.
Who knows how many time she have told that story? This kind of word-of-mouth publicity means that Nordstrom spends much less on traditional advertising than its competitors do. The stories that are told by satisfied customers are much more persuasive than an ad in the Sunday paper. Nordstrom is classified as an Upscale Department Store Chain. Nordstrom shares many characteristic with other retailers such as their generous exchange policy, superior customer service, the product quality.
Department stores were able to flourish due to industrial advancements at the time like new factory machines which made mass production faster and more efficient also the railway which allowed raw products and finished goods to be transported much faster and cheaper than the previously used canals which were very slow. Department stores were not selling high quality luxury items but were able to promote an image of luxury. Hetherington, K. (2009) wrote that “The department store was not really a place designed for selling many genuine, high priced luxury items; rather, it was geared up to selling high volumes of cheaper goods and making a profit out of the economies of scale that came with selling lots of things at a small profit rather than a few things for a large profit.” In recent years department stores have become outdated as new shopping malls and retail parks have become the dominant figure in consumerism. Retail parks contain many big named stores and normally have very large car parks as the consumers they intend on attracting are families and people who drive to the retail park on
However harsh the working conditions may be, there are still people who believe that the fast fashion industry is beneficial. They view the situation as providing jobs which otherwise would not exist, and in doing so promotes economic growth and hope for better jobs to arrive alongside the growing economy. Benjamin Powell, the director of the Free Market Institute, states, “So, this low-wage manufacturing, or so called ‘sweatshops,’ they’re not just the least-bad option workers have today, they’re part of the very process that raises living standards and leads to higher wages and better working conditions overtime. Your proximate causes of development are physical capital, technology, and human capital, or skills of the workers. When sweatshops
Case #22: Tiffany & Co. I.) SWOT Analysis Strengths: - Positive brand image - Diversity of product offerings - Strong financial position (good liquidity, not too levered, increasing profits, etc.) - Effective inventory management - Knowledgeable sales staff (within company operated stores) - Multiple sales/distribution channels - Exclusive licensing agreements with respected jewelry designers Weaknesses: - Too reliant (79% of total sales) on the fine jewelry product line - International net sales less than domestic net sales despite more international stores - Weak use of celebrity sponsors Opportunities: - Potential for growth in emerging markets (Brazil, China, Canada) - Strategic partnerships with mining companies to help reduce overall costs - Growing acceptance of internet shopping can help them globally expand without building physical stores in other countries Threats: - Global economic downturn will reduce the demand for high-end luxury goods - Increased competition from various competitors - Reliant on a resource (diamonds) which can fluctuate in price and availability - Environmental regulation that would affect their production/supply processes II.) Strategic Recommendations Based on the SWOT analysis, I would make a few strategic recommendations to Tiffany.
But what I find interesting is what made these companies bigger. JC Penney has always been known as a sort of mid-tier retail outlet that has more in common with Sears than Macy’s. So the study of the change these organizations implemented in their company is an interesting thing to learn. Macy’s has recently released a line of urban-orientated fashion. JC Penney has begun to focus more on younger consumers and is lower in prices as compare to Macy’s.
On the other hand, the United States receives exotic goods within a reasonable time and price range due to foreign trade. For example, it’s a lot easier to grow Valentine’s Day roses in Columbia, when the weather in January and February is nearly ideal than it is in the United States. Without the luxury of international trade, the American Valentine’s Day would not be the same without the Colombian
Brand that’s I like is hue, I really like the quality and the variety of hue clothing. Hue only sells the items at quality establishment like Macy’s and Bloomingdales. I like Hue because the make clothing for the average sized women. The prices are higher but the clothing quality last a lot longer than similar leggings brands. Brands that I do like is rainbow, although their clothing is trendy the quality is often horrible and usually only good for one night.