The company is “slashing prices up to 40% with to keep them that way year round” (Heller). With the decreasing price, J.C Penney could reach its customers’ expectation and is hopeful to invent its new brands to its market. Meanwhile, the company set the “best price” every month to offer customers more predictable pricing. According to Johnson, “customers will love shopping when it is convenient for them, rather than when it is expedient for us” (Johnson). Johnson, who ever built the world’s most powerful brands – Apple, considered from the angle of its customers to build up a
At a recent senior management meeting the business strategic plan was developed, from which you now need to develop a performance plan for your sales team. You also need to remember the ongoing team requirements as well as those new requirements brought about by the strategic plan. In essence, the strategic plan states that, over the next 12 months, the organisation is aiming to: Increase turnover by 30% by: ◦introducing 20 new products including a range of six health lollies that have added nutrients Build market loyalty by specifically targeting tweens as customers by: ◦designing new packaging specifically designed to have greater appeal to the 7–12 age group ◦introducing a club membership for tweens that gives them free gifts for purchases over specific amounts Increase efficiencies by: ◦increasing average customer sales from $4 per person per visit to $6 per person per visit ◦purchasing and installing a new computerised till aimed at tracking sales by each salesperson Your task is to: 1.Define the sales team goals for the next 12 months. Ensure that they are SMART. 2.Define the KPIs and standards for each goal.
His objective is to not only improve, but to transform the entire corporation and give the customers a better experience. He plans to do that by simplifying the pricing strategy, slim-down, but improve the brands and quality of the merchandise, and change the stores’ layout. What caused this change, to JCPenney Corp., were the past year’s revenues and profits. They were lower in 2011 than they were 15 years ago. One of the two ways JCPenney, as a corporation, got customers in their stores was by having promotions.
Operating efficiency was improved using just-in-time and lean operations techniques. I used sales predictions to estimate how many units a sales person would be able to sell each day. This number determined how many units were to be produced each day. Therefore, limiting the number of inventory left over at the end of the quarter, and in turn eliminating waste. I also used marketing surveys to determine what customers wanted in the products RIE Tech was producing.
Product development cycle in fashion supply chain management and the potential benefit and issue relating to the use of product lifecycle management (PLM) systems Introduction Fashion is one of the biggest industries in the world. Having 4 basic season a year and more different season according to the retailer, customers expectation on the product changing frequently, it was easy to have more that hundreds of style of product per year for a well-known brand in US. In order to provide all the style fitting their target customer's need, a cycle of product development will hold to design product customer may want in the future and develop it to merchandise. In order to satisfy the market needs and keep the brand competitive in the market, designers need to do different type of research and analysis to get the idea of what the market want. But after knowing the demand, several of products will be designed base on the concept and developed so finally can come up with a product that can fit and sell to the target customers.
Facility: LG has higher manufacturing volume based on they has an advantage from scale of economies by purchasing lots of material and got the discount on the prices. Moreover, they can use its manufacturing nearly full capacity. Execution: Tork’s low-end sales where demand was highly seasonal al, meaning production is increasing in late winter and early spring. Thus, LG can gain more advantage based on their sales tend to be smoother throughout the year. 2.
At any one time you have a team of 15 shop assistants with a need for 6 per day. Due to the nature of the work you have an average staff turnover of 1 staff position per month. At a recent senior management meeting the business strategic plan was developed from which you now to develop a performance plan for your sales team. You also need to remember the ongoing team requirements as well as those new requirements brought about the strategic plan. In essence, the strategic plan states that, over the next 12 months, ‘Yummy in your Tummy Lollies’ is aiming to: Increase turnover by 30% by: * Introducing 20 new products including a range of 6 ‘healthy lollies’ options Build market loyalty by specifically targeting ‘tweens’ as customers by: * Designing new packaging specifically designed to have greater marketing appeal to the 7-12 age demographic.
The brand has its own stores mostly in the United Kingdom, Ireland but also Netherlands, Poland, Russia Singapore, Spain and Turkey, Middle and Far East. The firm is owned by the investment company Lewis Trust and is located in Chelsea House, Westgate, London. Recently starting shipping worldwide it opened new opportunities and gained new customers. New fashion arriving into the stores every week designed ‘in – house’ with one of the largest design teams in the High Street. The company’s strategy drastically changed from the small shop in East London that sold wool and womenswear to 11,676 employees.
(Matlack, 2004) Under Mathieu’s tuttledge, productivity increased, leather-cutting equipment was improved to be more efficient, as well as implementing a Japanese-style teamwork model to decrease the time it took to launch a new product until it arrived in stores from 12 months to 6 months. At some factories, employees work in teams of 20 to 30, focusing on one product a time. Employees are encouraged to suggest improvements in manufacturing and are also briefed on the items retail price and how well it is doing in the stores. These managers and employees are the reason behind Louis Vuitton’s transformation from a “cottage industry” into a “21st century business. Hired for his appeal to younger customers, albeit risky for their brand at the time, Marc Jacobs joined the Louis Vuitton family as creative director in 1998.
There are many industries have been using the low-cost country strategy for their sourcing for many years, so when there are any cost increases on the cost producing the products, the suppliers will try to reduce their cost by using all the ways. To reduce the cost, the suppliers will change their raw materials very often. They will change the original materials to something that is similar, cheaper and have got good at passing audits and appearing compliant without actually being compliant . The reason why the suppliers choose to use the impermissible level of lead paint to reduce their cost is because this impermissible level of lead paint is cheaper than the paint that is ordered and specified by Mattel, especially when they were facing the problem of competitive cost pressure in China. For example, rising wage rates, a shortage of skilled labor in coastal provinces, escalating material and commodity prices.