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. This is due to the fact that an organization runs a major risk of constantly striving to maintain its customer base, as the new type of product or service has not yet been introduced into the maintstream. Additionally, pricing may be an issue based upon: Should pricing be very low to attract new buyers?, or Should pricing be set high to offset initial entry into a new marketplace? These are the questions that an organization must face, but for the most part, being a
Spending money on training of these devices are also factors that must be considered this takes employees time and cost the company man hours and thus money that could be spent on other things. Lowes must continue to analyze the cost to decide whether these improvements are needed and continue to produce more of a profit with or without them. In the highly competitive market that Lowe’s is in strategic planning has helped them not only stay in business, but also maintain a competitive edge over the competition. Their initiative on energy conservation and concentrating on energy efficient products and materials has made good fiscal policy for the organization. This combination of cost savings and green policy provides Lowe’s with a low risk and positive image in today’s global
| 2(3)Some product knowledge will exist from current sales members, but some training will be needed for new sales people. | | Financing/ROI knowledge of sales team(2) | 3(2)Unfamiliar with pricing and financing low-cost products, and would require motivation to get commission off lower-priced sales made. | 1(2)Has the most experience with financing all sorts of price-leveled products. | 2(2)There will be a lack of knowledge from the existing team, but can piggy-back off of the knowledge from the ISR’s.
For instance, if a customer’s order gets messed up or out of place then that messes up the other orders as well. In order for things to run smoothly, the employees have to be able to deal with massive amounts of people on a regular basis. A company's labor costs affect its OMM operations by being the largest expense that it will have. A company must leverage its payroll expense by meetings the profit goals they set. A company's inventory is a vital part towards its success.
As well as having many strengths, CanGo has many weaknesses due to its lack of direction and leadership. By researching these strengths and weaknesses, Dynamic D Consulting has found opportunities that will enable them to gain a broader market and become a more successful company. A SWOT analysis has been compiled to allow a more detailed look at CanGo’s strengths, weaknesses, opportunities, and threats.
Making sure that product is manufactured on time (taking into account any delays that may arise from overseas manufacturers) and ready for distribution when the consumer needs it. It is very hard for the dealerships to be able put their names behind a product that is difficult to keep in stock as todays consumers are on a “I want it now” basis. The advantage to this strategy is that if you have marketed and advertised properly, there will be demand at the dealerships from your product. If you are able to keep the dealerships properly stocked, then they will be pleased, as well as the customers and you will make your money back from all that costly advertising. A disadvantage would be that it will take resources to be able to keep items in constant stock and staff to ensure that logistics is running
Often, salespeople are heavily motivated by compensation and competitive environments. Compensation Plan The most important aspect of a successful compensation plan is to keep it simple. Complex sales compensation plans often frustrate sales teams and those who must manage it. Keeping it simple, however, requires serious work and thought. Below are the most important issues to consider when developing a sales compensation plan for FedEx.
However, separating this small contractor segment entails a process of market research to really know if the market is large enough and has enough purchasing power to be worth pursuing. Nevertheless, if the in-home market is really saturated, one way the company can expand and cope up with the competition is enter into this new market. Some of the junior salespeople can also specialize on this segment and might get better sales volume since it is still untapped or somewhat neglected. As long as the market is viable and the company has competent salespeople to attend to this new market needs, then there is nothing wrong in pursuing to enter this market. 2.
When attempting to answer the question one can find that to define the first-mover advantage is too difficult and specially is very difficult to differentiate between an actual benefit and the blink benefit. There are many issues that do arise when one tries to clearly define "first-mover advantages". One of these issue is to estimate the company gain in term of benefit against their investment after being first to produce and market a particular product. Many researchers have done different studies to specify the accurate benefited for being the pioneer in the field but still the issue is not solve completely. So, there is a great opportunities for the researches in the area of first-mover advantage so the issue arises above get solved completely.
Organizations can implement training programs with the help of new technology that allows them to train multiple employees instead of hiring expensive trainers. Employee training is one of the most expensive costs that organizations incur. Making use of advances in technology allows organizations to decrease the amount of money they are spending for training and train a larger amount of employees using the same training materials. The consumer demand for new technology and services keeps growing, and those businesses who do not keep up with the demand will find themselves at a disadvantage over their competitors. One of the major benefits from technological advances, allows employees to learn at their own pace through self-directed learning programs (Noe, R., 2010, p. 266).