A positive effect of Kudler Fine Foods in a monopolistic market structure is that they lead in the market and can increase competition between companies and make massive profits by setting higher prices (Colander, 2010). An advantage of a monopolistic competition structure is the ability to set and manipulate product pricing with little consequence because of their strong product differentiation. A disadvantage of a monopolistic competition market is product differentiation can generate unnecessary waste, and advertising can also be considered
UNIT 3 P1 ALDI Business Objective Aldi believes that customers want something of good quality from their money instead of misleading quality. Aldi’s business objectives are to provide their customers with high quality products which are the same but cheaper than other brands products also they make sure that these products are kept at a reasonable price so that they do not lose customers. Aldi can achieve their objective if their prices are kept at a minimum instead of being average or high. Aldi control their prices by buying a lot of quantities from a small range. By cutting costs and being effective they can gain profits back and meet their business objectives.
The products will be served in a friendly manner and the atmosphere will be a serene one that will leave our customers feeling satisfied after their encounter with our company. This will cause our business to succeed and thrive throughout the years. Caffe Umbria’s ideology is to provide its target market with high quality but mid-priced coffee on the go and in bagged blends to make and serve at home. By providing a cheaper alternative to places like Starbucks and other name brand expensive coffee shops, Caffe Umbria must make many smart choices when it comes to planning pricing, packaging and distribution. Companies with smaller profit margins must create a larger following of loyal customers because they need to rely on the quantity of customers, not the markup, for their profits.
In a highly competitive business world, on a firm’s priority list is the subject of increasing profit and reducing cost. One might than pose the question, has this put them out of business (mom and pop store)? The answer is absolutely not, but rather, they too benefit from cheaper prices as they continue to buy in bulk and continue to operate as the name suggest, convenient
A second reason that managers should not only be responsible for shareholders alone is because their goal may be to maximise sales. If consumers are aware that Greggs are willing to benefit the environment by using CSR then they may feel more inclined to purchase Greggs products (USP); this will inevitably result in larger profits and sometimes even greater brand loyalty; both important factors for companies. Moreover, this would benefit shareholders in the long-term. On the other hand, Greggs is a corporation and therefore CSR may not necessarily be important to them as it goes
Technology can create efficiencies in the business process that allows for lower cost and a competitive edge. Also applying on line ordering, research, order tracking, and banking services on line will allow our corporation to rise above companies with less technology. Technology such as email systems, hardware, internet, and telephone systems are all integral pieces in running any business successfully. Conclusion The entire McBride Financial Service marketing plan when implemented will host rewards of increased business to the corporation. Once the marketing plan is launched the market research will define the market best suited to target.
The penetration price strategy also favors Wal-Mart’s business approach of low costs products and services. Wal-Mart customers’ expectations are quality products and services at a price that is marginally lower than the competition. The penetration strategy can significantly increase the lifetime value of customers, because they are “hooked” with the outstanding initial service offering. This approach also provides Wal-Mart with the additional business to remain in the maturity phase of the product life
Consumers are demanding chemical free homegrown products. It is easy for consumers to find other companies who can provide comparable services. However, new technology is only a fraction of what makes Gene One stand out over their competitors. Consumer loyalty and strong leadership will give them a major advantage. The challenge for Gene One will be to maintain their cohesiveness as a management team and maintaining a high level of social responsibility while expanding the company to a publicly traded organization.
You may not be able to offer or afford the low prices that the corporate chain store can charge or offer. By providing excellent customer service you can offset the effect of higher prices by offering a better customer service experience . to manage the higher prices they can satisfy the customers with marketing strategic techniques by spending money on advertising to get your products and service to be heard, do it gives a pleasure view of the quality of products, so this make the organisation feel very proud of offering sensational customer service. How does effective customer service benefit the employees Creating a successful working environment can enhance the importance of leading improvised employees and their morals of giving customer satisfaction and they are eager to help and put irate customers ease and improve their shopping experience. So therefore, it can overwhelmingly lead to a pleasant working environment which makes employees feel satisfied and good at what they do.
True Religion SWOT Analysis Strengths: • Production in the United States: True religion producing their products in the United States appeals to American consumers in that they feel as though they are helping the American economy and being socially responsible buying products from factories that they know are safe and regulated. • Shorter lead time: Production in the United States avoids the company having to wait on shipments coming from overseas therefore they are able to provide consumers with the latest trends faster. • Deep assortment in the main product category: True religion offers 6 different styles of jeans and several different types within the main style categories. This allows them to cater to consumers who are looking to purchase a specific style and allows them to appeal to consumers with different body types and style preferences. • Trademark: The true religion trademark horseshoe on the pockets of their jeans as well as the brand logo of the Buddha is protected by copyright.