The ability to increase sales and stores in America relies on customers’ preference in buying JCP products hence; the strategy is subject to dealing with customers’ satisfaction first before addressing their expansion strategy. The ability to introduce more brands to the global market through the re-organization of the departments is seen to be a proper step to achieving the corporate strategy in globalizing the business. However, this would be hampered by stiff competition from the three major
Research Methodologies Paper July 16, 2012 MKT/450 Ted Framan Research Methodologies Given the nature and ever-growing complexity of today’s global market place, it is imperative that organizations are equipped with appropriate and effective market research in order to make the right marketing decisions. The importance of marketing research is immeasurable; it helps marketing managers make better judgments that take into account cross country differences and similarities. In addition, marketing research helps marketing managers gain support from the local subsidiaries for proposed marketing decisions (Keegan & Green, pp. 196-221, 2008). American company XYZ, Inc. has decided to market their top product, all-natural
To be profitable, consumers have to be aware of new products and purchase the items; this is how companies increase revenue. Being able to effectively manage the four Ps of the marketing mix are crucial to the success of the new product or service being marketed. The four Ps consist of product or service, place, price, and promotion (Lamb, 2013). By using the four Ps marketing mix, it assist in how your company decides to market a new product or service; and tests current marketing strategy. This concept works both domestic and internal markets; for international markets, various cultures will have to be researched and adjustments made to integrate the products or services successfully into the market (Lamb,
Strategic planning is crucial at this stage and there are tools available to help any business perform the analysis needed to succeed. Kudler Fine Foods is an upscale food store specializing in foods and services that appeal to a niche market; gourmet chefs and gourmet chefs in training. The firm had good initial success with its first two stores, but its third store is suffering with lower than expected sales. The firm wishes to continue expansion and increase profitable growth. Before moving forward the company’s owner, Kathy Kudler, needs to understand her company fully and have accurate knowledge about the firm’s internal and external environment.
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.
Sandwich Blitz Large Scale Expansion Unit3 Assignment By: Shaniqua Johnson If Lei and Dalman want to do a large scale expansion they have to think about SWOT before they continue with their plans. SWOT is strength, weakness, opportunities, and threats that a business can face in the economy. There are some ways that they can overcome SWOT and that is by using formal planning steps and also using strategic, tactical, and operational planning. They also need to have a corporate strategy set for their franchises and business. I think that if they focused the stakeholder they would have a better chance of opening the two new stores with no problem.
Since many companies require better information on financial supervision to improve business processes, and requires a system that can handle multiple languages and legal requirements in doing Business in various countries. 3 Q) what have been the results of implementing mySAP at Pierre Lang? Answer: Pierre Lang selected mySAP after evaluating several competing solutions. Today, Pierre Lang uses the country specific versions of mySAP to handle invoicing, tax, language, and fiscal issues. Therefore by implementing the mySAP in Pierre Lang improved the accuracy of information and eliminates the need for manual data transfer tax to develop the report.
Ruth’s Chris Case Study, Assignment #1 SCMP Course A. Defining the Issues: Newly public, needed to provide sustainable growth for shareholders. Vision –“ to embark on an accelerated development plan and expand our footprint through both company owned and franchised locations” Existing stores were seeing consistent incremental growth but didn’t meet the Vision statement and didn’t bring significant return to the shareholders How to expand sustainably while meeting the revenue expectations of the shareholder? B. Analyzing the Case Data: o Cause and Effect: Opportunity was to expand in international markets but which ones: • Net worth of $1 M for franchisee, verifiable experience, cost of franchisee etc • Beef-eaters – no market if they don’t eat beef • Legally allowed to import beef – no market if you can’t import beef • High disposable income - expensive restaurant, need to be able to afford to eat there • Social life – culturally people need to go out to eat rather than always eating at home • No cultural barriers to U.S. products/brands – can’t be anti-American – restaurant name and product is very American • Dense population – market niche is small due to cost etc so need to have large population to draw from o Opportunities and Constraints Opportunities: Proven business model, many years of experience which brought good instincts and personal preferences, could use the success of existing franchises to offer testimony to new potential franchisees, well-defined key success factors, identified 4 potential opportunities and then narrowed it down to one, look at markets where U.S. restaurants were already successful Constraints: Import regulations limited major potential markets. Didn’t want to diversify product, didn’t want to offer new kinds of restaurants, tough requirements for
RUTH’S CHRIS CASE STUDY QUESTION Is Ruth’s Chris able to succeed in foreign markets? A decision needs to be made as to which countries have growth potential with little risk. Although the study outlines different methods to aid in determining this like market selection criteria and the growth plan model; they need a more detailed method of narrowing down their choices. Some considerations used were 1. Corporate vs. franchise and introductions of a new concept/product vs. introducing the same model to a new market 2.
Guillermo needs to analyze thoroughly that there are at least two sides to every transaction, and the parties on the other side can be just as bright, hardworking, and creative as the ideas for Guillermo’s Furniture Store (Emery, etc., 2007). Guillermo Furniture Store looks and seeks for advice as mimic’s business competitors to match or be a better provider. Underestimating your competitors can lead to disaster, so Guillermo’s Furniture Store is very cautious. However, Guillermo Furniture Store indeed knows that he is faced with a major decision that