However, in competing with the competitors, I feel that Sea Knife Kayaks does have a slight advantage due their solid experience in this field. As for threat of substitute products, there are many alternatives that consumers’ can consider. Nevertheless, in researching the companies’ products and product reviews, it seems that customers really enjoy the price they pay for the quality of product they receive. Another factor to consider is that consumers in Vancouver always want to try different things, keep up with new trends and therefore, will be very intrigued to try Sea Knife Kayaks. In discussing the bargaining power of buyers, the act of bargaining isn’t very popular in Vancouver in comparison to other countries like Asia.
SWOT ANALYSIS STRENGTHS | WEAKNESS | OPPORTUNITIES | THREATS | The ability to help busy customers with their grocery needs. | Prices are higher than other supermarkets. | They can expand all across the world to open up new stores. | When other supermarkets offer online shopping. | Longest lasting online grocery chain.
Firms in the fast food industry and home meal replacements have to continuously innovate to maintain various product differentiations and high quality of food and service in order to stand out against competitors. Otherwise, their product is easily substituted. Bargaining power of buyers: The bargaining power of buyers is high since customers have low switching costs. Thus, each firm within the industry is susceptible to losing customers. To address this,
The benefits of IT for work tasks is the ease of communication, many attendees at a meeting may be invited quickly and in one go rather than individually calling each person. Quotes maybe easily sent via email to prospective customers, everyone who works for the business access notes and information on customers via databases. The internet can be used to quickly find information. Section 2 – Understand how to manage electronic and paper-based information 1. Explain the purpose of agreeing objectives and deadlines when researching information.
In Phillips first phase of the King Crab launch they decided to focus on trade magazines to find retailers as well as customers who are interested in the product. Though using trade magazines worked for phase 1, Phillips want to potentially begin advertising at trade shows to attract more customers and different customers as well. This case analysis looks at the different aspects of running ads for a trade magazine as well as having a booth at a prestigious food trade show. Trades shows for example give personal one on one interaction for customers and Phillips workers which helps to build relationships but on the other hand they cost a lot of money to do successfully. The Final Recommendation is for Phillips to pursue the trade shows even though it comes with a huge risk.
What are the benefits to businesses (and others) of using information technology for doing work tasks? The benefits to business of using information technology are that it saves time, allowing a business to work more efficiently and be more productive and also be more accurate. Information technology means a business can communicate faster with its clients, suppliers and potential customers. It can store large amounts information electronically including orders and accounts so takes up less room with filing and storage. Also the internet can be used to research thing quickly and easily, whether this is cheaper postage better quality raw materials etc.
Marketing expenditures could be more efficiently targeted on its regular customers and their need segments. Although it is not stated in the case, I strongly believe that Tesco also has benefited in having accurate information in real time stocks movements through this sophisticated data handling, which have big impact in supply chain management. The more effective supply chain, the more cost reduced, which means Tesco could compete with further price reduction and offering with products and services. Tesco's Clubcard IT system does not stop to that level only. To give more added value to its customers, Tesco integrates with several partners to provide another services such as telephone account and financial products.
Bilingualism is a major part in communication with a broader range of people as mentioned before, technology grows daily and now you can promote your company in a multi-language website. Having it in two languages can make people grasp an idea of your success. In addition, being bilingual can promote your social status. One day, a global company can see your online ad, and would want to hire you! Even regular people might need to be bilingual; not just businessmen.
For instance, through the online chat forums, I can grasp the innumerous different opinions and perspectives from people regarding topics from education to the latest movies. By learning from what other people are thinking, it helps me become more open-minded. Technology affects every aspect of our lives, as communication and information travels faster and faster, the world seems smaller and smaller. Living in such a globalised world, this has large implications on how we view the world around us. The internet connects people closer to each other, thus, the barriers of distance between people narrows or in some cases, even disappears.
Adoption of the online platform, greatly helped enhance the firm’s operations, and revenue collection, since most customers found it convenient (Hoskisson & Hitt, 2007). However, in spite of this success, the firm faces many threats. These threats relate to the recent technological shift,