Task 1 Tesco For this task I chose to review’s Tesco organisations because I like how they are improving their growth in low economy percentage and demand. The image of business cycle: Growth Growth Define boom and recession Boom- The boom stage is when everyone feels good. At this stage demand increased, unemployment is very low, high competition at the job places. The business confidence is high so they invest more and expand themselves. The customers feel good.
When companies can produce more due to demand they are able to hire more workers, which can lower the unemployment rate. Lowering the unemployment rate will provide more income tax revenue to the government and fewer citizens taking unemployment benefits. Conversely, when exports decrease consumers pay less money for products causing domestic profits to decline and companies are unable to maintain or increase their workforce causing the unemployment rate to
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.
Combining a demographic base units with a geographical one reduce our target market and allows us to put our emphasis in very specific segments. This has the advantage to allow us to put in the market a product that to have answers to consumer needs and wants. Choosing the aged people as one our focus target will enable us to reach a group with a strong economic power and help them gain independency and be more autonomous. This group is growing each year and could give to our product a brighter future. The U.S. economy is in a growth path and the many people are overwhelmed by their work, choosing this group of people allows us to benefit of their buying power and also to give the opportunity to spend their precious time with their love ones.
First, offering to purchase on the website will gain more attention from customers because of the convenience of time. Time plays a huge role in customer’s experience, for that reason customers will gain the easy of buying products online at Kudler Fine Foods. Additionally, KFF can advertise the unique products and services offered added to having customers enjoy the benefit of shopping online. For instance, coupons, weekly specials, gift cards are some of the incentives that the website can offer to attract more customers’ trough the website and increase revenue. In conclusion, Kudler Fine Foods needs an effective management team to operate successfully at their best ability by allowing them to implement their knowledge and skills to improve productivity around the business.
Consumer spending has changed primarily from bouts of growth and recession. In economic downturns consumers have gotten more value conscience. Shoppers are now pinching every penny and looking to buy items only when they are sure that they are getting the most bang for their buck. This trend has continued in spite of signs of recovery. Retail trends that have taken place are the expansion generic product lines, and sales promotions (i.e.
P & G focuses on strategies that are precise for the long-term well-being of the business and will convey total investor return and hold the spot in the top one-third of their industry group. . P & G also intends to deliver earnings per share growth of high single digits to low double digits and to create free cash flow productivity of greater than 90%. The company’s long-term economic targets are to grow organic sales up to 2% faster than the industry market growth in geographies and categories in which the organization competes. To achieve these strategic targets, P & G plans to achieve by improving and touching the lives of more consumers, in more parts of the globe.
Advertising is a large part of Target’s marketing management. The retail stores sell a large variety of high quality items at lower prices than the competitors, therefore, selling more products. Target’s marketing team is constantly re-evaluating the products sold to assure that their customers stay satisfied with the items that are in stock. To guarantee that customers stay completely satisfied, Target will special order items if requested by a customer. To continue to be the largest retail store, Target has to make sure that their prices are the lowest and that the products they sell meet all of the wants and needs of each customer.
With today’s economy everyone is looking for a good deal. This strategy would allow promotional deals and bring in more revenue. Vitez (2014), “Many businesses develop pricing strategies to maintain a competitive advantage. These include penetration, economy, skimming, bundle and promotional strategies. Penetration pricing uses low initial prices to gain market share and slowly increases the price to its normal level.
This will assist the company in increasing their profits and it allows Brockley’s to invest more money if they need to. Budgets are important to any company, they help inform the business on whether or not they have enough money to raise the business and generate more profit. Budgets help businesses reach their goals and targets. Income increased to budget: A budget provides businesses with an outlook and structure for future plans. Income is an important area of budgeting, this because without income there is no money to work within.