Walmart sells many items at ridiculously low prices. They are able to offer low prices on their items due to an incredible mark-up on imported products. Especially in today's economy, the buck is the big winner. Everyone wants to save money, and they can do that by shopping at Walmart, where many items are the lowest price in town, even if it's only by a few pennies. But consumers aren't helping their fellow countryman earn his own living by buying these imported items.
Many customers are shopping at lower priced stores because the economy is not allowing them to spend extra money. At these lower priced stores there are lower quality products. The consumer then has to make the decision on whether or not to spend the extra money to purchase the higher quality product with the higher price or the lower quality product with the lower price. Going along these lines, some customers will pay any price to have the name brand that they like. Many different stores offer the same name brand and you have to make sure your store offers the lowest price.
For example, they normally purchase a big number of merchandises from original manufacturers so they will be able to purchase it in very low prices. Then, people who would like to buy their products have to sign up to be store membership. The companies such as Sam’s Club, BJ’s Wholesales Club, and even Costco will allow just memberships to buy the products in low prices.
Promotion – design – so that the company knows what products to promote. 4. PROMOTION_ID- PROMOTION CODE PROVIDED BY COMPANY PROMOTION_AMOUNT- PROMOTION AMOUNT FOR THE CODE COUPON ID AMT_POINTS- THE AMOUNT OF POINTS THE CLIENT HAS COUPON_ID DISCOUNT CODE OFFERED BY THE COMPANY CUSTOMER ID ONLINE_NAME- LOG IN OR USER NAME CUSTOMER_NUMBER- REWARDS CARD NUMBER FOR IN STORE SHOPPERS SERVICES ID SERVICE_ID- SERVICE IDENTIFIER FOR SERVICE RENDERED STORE_JOB- -STORE PROVIDING SERVICES TRANSACTION ID TRANSACTION ID- ID FOR TRANSACTION TYPE TRANSACTION_TYPE_ TYPE OF TRANSACTION BEING PRERFORMED PRODUCT ID RODUCT_ID- PRODUCT NAME
FastFit Case Study Q1-6 General Question 1. Mark the main flows of goods and money in the diagram (above) and employ a key or table of descriptive elements to explain your answer. Chronological flow of activities (Business Process): 1. Customers give orders and purchase products. / Stores receive orders and money and offer products to customers.
Vender’s sale anything from automotive parts, electronics, medical supplies, office supplies and the list goes on. Huffman Trucking has divided their database of customers into two portions which include type S (small accounts) and type L (large accounts). The large accounts are more loyal customers but are not as profitable as the smaller ones due to the competitive edge that many companies have to compete in to hold these loyal account holders. The smaller accounts can be walk ins, one time deliveries, or companies that only order once in a while. Both customer categories are a source of revenue and must be kept satisfied to stay in top ranks, and by delivering on time and having competitive prices they shall be kept satisfied.
Recession occurs when people involved in business become more cautious and: * Customers cut back on spending, and start to save more * Manufactures and sellers cut back on their orders, produce fewer goods and start to cut back costs in general, including by laying off workers. Availability and cost of credit: People spend more when there is high demand for goods/services. In this case etisalat has the advantage of expanding their business. Many people will want to purchase numbers and different offers provided. A higher sales revenue will occur for etisalat which means the income the company receives from business activities, usually happen from sale of goods and services to customers.
| 2(5)Profitability is evident do to increased sales from no motivation needed, but expenses are accrued from training. | 3(5)Some training and expenses are accrued from developing the hybrid approach and giving the hired individuals the knowledge on the product and company. | | Product Knowledge of Sales Team(3) | 1(3)Has hands down the biggest impact on product knowledge by providing a sales team that all have company and product knowledge. | 3(3)Least amount of product knowledge by hiring a third-party sales team unfamiliar with the brand and the products. | 2(3)Some product knowledge will exist from current sales members, but some training will be needed for new sales people.
The store was not being managed well currently and the store director Heather was resentful of the companies hiring practices that excluded her from the process. Shortly after Tricia was hired Heather left the company and Tricia was promoted to the position despite almost no experience in retail management. She again was very motivated and rose to the challenge. The company had a ranking system in place that tracked the stores by their sales and goals met but all stores were held to the same standards despite being different sizes. This made it difficult for goals to be met, if at all, thereby creating tension and turnover in the smaller stores.
Chapter 14 Analyzing Managerial Decisions: Structuring Compensation pg 446 By: Tia Woods 1.) There are numerous ways that explains the difference between two firms dealing with compensation plans. One of the reasons why is how Parkleigh’s may believe the main reason of sales leads to sales incentives, and how having great customer service with nice, outgoing staff helps build a sale, and reflects on the high completion to customers. That’s like making the staff work harder to have a better visualization of the firm, from cleaning the dressing rooms, to making sure all the displays are showed to be impressed by customers so they can buy an item or two. All of these aspects would help raise store sales.