Strengths Wal-Mart has a profusion of strengths which is apparent due to its outstanding success. This retailer is the largest in the United States and a place to get a respectable job without a college degree. Criticisms have been made how Wal-Mart pays low wages, but this still gives people jobs and being employed is important in this economy. Wal-Mart beats the competition by saving families hundreds if not over a thousand dollars a year with their aggressively low pricing strategy. Slashing prices as they have over the many years lures in consumers to bring in more sales.
A customer is not dependent on us. We are dependent on him. A customer brings us his wants. It is our job to handle them properly and profitably - both to him and us. A customer makes it possible to pay our salary, whether we are a driver, plant or an office employee What is customer service?
However the positive effect of a recession for Tesco is that a lot of customers eat out less and eat more at home which give Tesco an opportunity to increase their output and come up with cheaper alternative meals to getting a takeaway or going to a restaurants. Competing Technology I think the use of technology has made Tesco a top competitor in the market. They have capitalised on the use of online shopping and provide a delivery service through their website www.tesco.com, this is very useful for people who may not have time to go to the shops they can simply order everything they want online. Also I think that the ageing population would also find online shopping more convenient if they were able to assess and utilize the website. Tesco have also set up their own mobile service which is growing in popularity.
This worked well enough in a slower time when supply chains were less complex and when products themselves were less complex. Those were times we now refer to as the "good old days." Increasing competition and demands from customers to deliver products faster and cheaper shapes the world we live in today. At the same time, the array and complexity of products in our economy has increased dramatically and that trend will clearly continue and even accelerate. In order to be competitive and also profitable, companies need to find ways to reduce or eliminate costs associated with routine and repetitive business transactions.
With the Amazon product selection enriched greatly, Amazon attracts more customers. * Price: Amazon was committed to price leadership and consistently. Since 2001, Bezos make low price for the pillars of improving customer experience. Amazon also makes a lot of discount everyday. Nowadays, people like to compare the goods between stores and online, they will buy the products on amazon for the low price.
• The compensation was good because of the way it was set up for the employees. • Increase in ad spending created better brand awareness. Weaknesses: • They had higher retailer margins and could have given market share to other two companies. • Not much of a barrier to entry in this business • Management not been happy with the decreased prices in order to increase market share. The company has been so successful because of the four different ranges of high quality products they have.
Benefits of globalisation to consumers/individuals The most obvious benefits here is cheaper prices, globalisation leads to increase competitiveness which leads to price cuts and as a result of this consumers benefits from cheaper prices(Kahn, 1998). Globalisation also gives consumers a more varied selection of products. And it increases the purchasing power of an individual. For example, if I earn 100 euro a month and 50 euro goes towards my groceries I only have 50 euro left to spend but when the likes of Tesco, Lidl and Aldi enter the market I now only have to spend 25 euro to do my shopping and I can easily shop around and compare prices and now I have 75 euro left which means I can now afford to buy more with the same 100 euro than I could before these foreign companies entered the market. However some argue that if foreign competitors enter the market and dominates the market share they may then raise the price or worse move to a cheaper economy to cut cost leaving consumers with little or no choices and higher prices set by domestic companies.
Second, there is cost savings and a benefit to the environment by reducing the number of cars on the road. The third and most important is how an employee who is allowed more flexibility in his working hours and commuting will have a higher quality of life. Businesses need to catch up with the increasing technological advances by allowing their employees more flexibility where they complete their work from home. A company that can cut overhead expenses will greatly increase its ability to compete in the marketplace. With telecommuting on the rise, employers seek to advance with the use of technology and recruitment of the best talent around the globe in order to make their company more competitive.
This leads to the question, at what point does this become too much? Although all of this information gathered by Google is used to improve the accuracy of result for searches for a particular individual, there is uncertainty around its future. Google’s revenue depends on advertisements; therefore they want the best possible match in order to increase their revenue. Due to the fact they are a business, they will continue non-stop to gather more and more data, taking more and more privacy from individuals for their own good. Google’ ideal situation is to have everyone connected on the web, and as they’re enter the mobile world it will enable them to obtain more information.
While the economy is still low, sales of these retail products will likely remain high as consumers purchase lunch meats and other foods rather than eating out and frozen desserts rather than purchasing from a more expensive local bakery. Food service will also likely remain an attractive industry as most of the national chains listed as consumers in the case study are directed at value-conscious consumers who also desire quality. International beverage is a growing industry, as consumers move toward making their favorite coffee (and other) beverages at home rather than spending $5 a cup at their favorite chain. With the development of single serve coffee makers, this industry has grown even further and it no longer takes special skill to make a decent cup of coffee. The two remaining industries, North American and International bakeries seem less attractive, but these may pick up again down the road.