The consumers will benefit by obtaining the quality goods Kudler provides as well as customized promotions based on personal shopping patterns. Tracking the shopping patterns of the customers will help develop a marketing strategy for Kudler. This strategy will allow Kudler to offer certain products at times when an increase in demand has been determined by shopping trends. Kudler will also benefit from this program with an increase in revenue and a more stream lined business process. This program will keep track of individual customers purchasing behaviors, which will allow Kudler to know how much of a certain product to stock.
It can also help us to win over new customers or even create customer loyalty from current customers. We currently have sufficient marketing strategies to increase loyalty and profitability of consumers. However, the organization can create more strategies to have long lasting success. According to "How to Develop Marketing Strategy" (2013), “A carefully planned marketing strategy provides continuous benefits to a company”
Differentiating between the market structures of this business will allow for explanations of how different sectors of industry will vary and how to come up with some competitive strategies to grow the business within the industry. Market Structure Target is within the oligopoly market structure. Oligopoly, according to Colander (2013), a market structure in which there are only a few firms and firms explicitly take other firms’ likely response into account. Being that there are only a few different businesses like Target, they tend to set their prices according to the rivals. This practice keeps these businesses in the oligopoly market structure.
The organization enjoys an image as a value-branded confectioner that passes its savings to the customer (Kimmel, Weygandt, & Kieso (2009). To deliver the best quality product, the company invests in updated equipment to maximize production efficiencies. To continue to maintain its positive marketplace image to consumers and vendors, TRI will use the loan proceeds to further update equipment and incorporate advanced
If there is not enough capital then a company may choose to lease. So if your company is just getting off the ground than leasing would probably be the best direction (Grover, 1999-2015). The companies that have been around for a while and have a strong footing may look at purchasing. They have money needed to buy the things they may use to conduct business as long as ownership is the optimal scenario. They can keep their costs low by choosing to purchase.
However, understanding the culture and values of foreign consumers can help boost the sales of the product and service because the sales teams can market and target their consumers. The international sales research can help the sales team to understand the consumer’s needs and market their product which makes consumers want to buy the
Guillermo’s Furniture Store refers to the situation as an unused opportunity as an opportunity cost, which includes using different business tactics to increase business profit (Emery, etc., 2007). An opportunity cost is the difference between the value of one action and the value of the best alternative, which provides an indication of the relative importance of Guillermo’s Furniture Store decision on the coating. Especially, when the opportunity cost is small for Guillermo and may lead to the cost of an incorrect or correct choice to be small (Emery, etc., 2007). On the contrary, when the opportunity cost is large for Guillermo’s Furniture Store, such as adding the flame retardant, the cost of not making the best choice is large (Emery, etc., 2007). Guillermo needs to analyze thoroughly that there are at least two sides to every transaction, and the parties on the other side can be just as bright, hardworking, and creative as the ideas for Guillermo’s Furniture Store (Emery, etc., 2007).
Having at their side another company advertising and selling their products will provide the opportunity to expand their market. In addition, this decision will provide clear information to the shareholders of the company’s intentions to grow and of its economic stability within the market. On other hand, merging with another company will definitely attract more customers and will increase their sales. These strategies will help in the company’s position before the globalization and will minimize the risks when important financial decisions are
The Company believes that sales of its innovative and differentiated products are enhanced by knowledgeable salespersons who can convey the value of the hardware and software integration and demonstrate the unique solutions that are available on its products. The Company further believes providing direct contact with its targeted customers is an effective way to demonstrate the advantages of its products over those of its competitors and providing a high-quality sales and after-sales support experience is critical to attracting new and retaining existing customers. To ensure a high-quality buying experience for its products in which service and education are emphasized, the Company continues to build and improve its distribution capabilities by expanding the number of its own retail stores worldwide. The Company’s retail stores are typically located at high-traffic locations in quality shopping malls and urban shopping districts. By operating its own stores and locating them in desirable high-traffic locations the Company is better positioned to ensure a high quality customer buying experience and attract new customers.
This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. Roberts (1988), defines innovation as the successful implementations and exploitation of a new idea or invention . Innovation is the main idea in shaping corporate life and helping companies to adopt various strategic options. It helps to reduce total cost of production, increase income avenues, and maintain efficient operating systems. Innovative businesses also benefit the economy: delivering added value; high quality jobs; successful business; better products and services for customers; and new, more environmentally friendly, processes.