We must also expand sales to our newer customers by utilizing public relations activities, trade shows, brand development, and sales force promotions. These changes and implementing our recipes to reach our goals will help us reach our goals on a steadier track. Sixty percent of our incremental sales will come from our existing customers by the end of the year. We must take a consultative sales approach to understand the current needs of our customers and anticipate their future needs as well to satisfy and keep our existing customers. The other forty percent of our sales will come through new customers, therefore we must reach these new customer through trade shows and leverage market research reports.
New market will bring new opportunity to push the company going forward Threats It will be a big challenge for Under Armour in doing business with big companies like Nike and Adidas in the same industry, the actions of a competitor could be a major threat against Under Armour, for instance, if they bring in new technology, news design or increase their workforce to meet demand for the needs of having an innovation product because when doing business in the sport industry new product is a core competency for a company after every season of the league. Substitute products available on the market present also a major threat to under armour. I. Long-term
An analysis on the current customer base to get a starting point for a later analysis. From that point we can build where individual units or divisions will be placed and what the area of responsibility will be. The initial phase will be implementing the positions and job responsibilities that will be needed to carry out the expansion. This consists of not only writing out a new organizational path but also numerous job descriptions, budgeting, placement, and operational scope for the whole branch. This should take roughly six months.
Lastly, increased inventory requires more space. We will need to make several minor adjustments to the inventory area to accommodate the new products. There are also risks in not adding the two products to our inventory. As a home-based business, we see start-ups and “copycats” at times. If a new business opens and has one or both of these products in stock, we would likely lose potential customers.
This can make expanding and growing very difficult and decisions must be mad wisely. When it comes to their products that are purchased around the world to ensure high quality, expanding may affect that quality, making it hard to supply a specialty product. Going public through an IPO, may change the very decision made that make their company special, or it may enhance their products by providing more resources. Acquiring another company in the same industry to help their company grow could cause increased financial stability or increase their financial burden. Kudler can merge with another organization in hope to expand while implementing their mission and values on that organization or that organization may hurt their reputation.
Our first stages will consist of introducing Cloud 9 into the market. This is the stage at which consumers are not aware or seeking our new product. At this time we will focus on getting the information on what Cloud 9 will offer potential buyers. During this time Mars Inc. will suffer some losses because it will take time for the introduction of our product to reach the consumers. Market Growth During the marketing growth phase of the life cycle Mars Inc. will see the sales rise and fail.
First of all service marketing plans offer something that is intangible, or something that the consumer can't put its hands on. It can be hard to sell something that you can't see or touch. Another major difference is that for service marketing building a relationship is a big deal compared to product marketing, where there may only be a little relationship built, such as branding and name recognition. When that service finally builds a strong relationship it will allow them to continue earning money for many, many years. Another difference in service marketing is marketing the quality of your service.
Looking ahead she sees a lot of opportunities to bring value around the world. TJX has one of the widest range of demographics in retail. TJX believes that they will gain more U.S and international market share. They plan to become more aggressive toward marketing to attract new customers for the up-coming year. They also plan to upgrade the shopping experience by offering new and exciting initiatives.
The differentiation strategy involves production of product or services, which is unique throughout the industry and because of its uniqueness the customers are willing to pay more for it. The uniqueness may be in terms of design, brand image, technology or customer service. In case of Zara, it is the fast fashion philosophy adopted by the company. Zara’s unique selling point is to design and produce the latest fashion trends within a short span of two weeks. And these new styles are only available for sale on the floors only for a period of 4 weeks.
A buffer inventory will protect constraint from a work shutdown caused by a shortage of processed materials coming from upstream workstation or by the fluctuation of the demand Product mix changes: Introduction of new products could lead to the purchasing of additional equipment which lead to an incremental increasing in fixed cost. Therefore, we should careful consider whether we should put the project in to implementation or not or whether the revenue could cover the increasing in fixed cost. In-sourcing decision: if the company want to add the latest technology in the product, they should not consider the in-sourcing because it affects key partnerships – semiconductor supplier 2. If excess capacity costs are excluded from product cost, how should these excess capacity cost be accounted for and made visible to management? The excess capacity arises due to larger productivity or due to imbalanced equipments within the department.