I also believe that by following my recommendations, Barilla will succeed in influencing its distributors and Sales personnel to work together and implement the JITD program. This will not only result in better performance in terms of time and money but also promote trust and good relations among all the partners in the supply chain. 2. Identification of the problem Barilla is suffering from what is known as Bull whip problem- high inventory, -magnification of demand variability across the chain-frequent promotion – only one way of flow of information. • Promotions: Barilla’s sales strategy relied heavily on the use of promotions, in the form of price, transportation and volume discounts.
Marketing Britvic Case Study – Assessment 1 1. Characteristics of the marketing concept. The Selling Concept – This concept doesn’t primarily focus on new consumer wants or desires but focuses on the selling and promotion of a particular already existing product in order to achieve the highest sales they possibly can. This technique is suited to companies who sell products which are in high demand and whose customers/consumers tastes are unlikely to change and lessen demand. The Production Concept – Companies focusing on this concept will primarily focus on achieving high production efficiency at low costs and mass distribution as they believe the consumers are primarily interested in widely available products at low prices.
The success of strategies depends on ability of an organization to satisfy customer needs better than its competitors in market. Krishna & Vasant (2006). Therefore it can be said that marketing mix strategies in retail are highly influenced by the customer’s needs and requirements and strategies adopted by competitors. That aim of marketing mix strategies in retail sector is to satisfy specific customer needs with price strategy that can make some profit for the organization (Kurtz et al,2009) Blankson(2010) explain that retail marketing mix strategies should aim to create distinct image in the mind of consumer while mix can vary on the basis type of specific market requirements. Many elements can be placed to form marketing mix of any organization but most significant elements are given as follows (i) Store location (ii) Merchandise and Category Management (iii) Pricing (iv) Inshore marketing (v) Customer Relationship Management These retail marketing mix strategies at Argos are discussed here in detail (i) Store Location:- The selection of store location is most significant and important decision and success of business heavily relies on this decision.
It also ensures that he can put a high quality product on the market at a relatively low price. On the contrary, when the government requires that workers be paid more, businesses are forced to make adjustments in other areas to offset the added costs, such as reducing work hours, cutting benefits, hiring fewer people and charging higher prices. Naive lawmakers tend to believe, or at
So just as profits reward producers for making things people want to buy at prices they are willing to pay, losses punish producers for wasting resources and producing things people don’t want at a cost consumers are not willing to cover. Negative profits and business failures serve a productive function in the process of business growth and development. When one business enterprise in a market economy finds a way to lower its costs, competing enterprises have no choice but to scramble to try and do the same. Any change in the economy, such as an increase in demand for a product, requires further changes and adjustments in many aspects. Any kind of change in the output of one product will most likely require changes in other markets, as well, and will start a chain of adjustments.
The company has developed a strategic plan which enables the company to relocate the store shelves of Best Buy based on the behavior of the market. Best Buy has created niche segmentation to each store making the profit of the company grow bigger because of diverse target markets in each location. The company has also developed a reward zone program which allows the customers to earn points and receive gift certificate for future purchase (Pride, 2008). Resources and capabilities that allow the firm to complete important tasks are one of the strengths of the company. Best Buy is able to effectively manage the flow of its inventory that helps them complete the important task of having the right merchandise on its shelves for customers to buy.
Factors that have been particularly favorable to Marks and Spencer in diversifying its retail businesses into financial services (lending, pension, life, assurance etc.) , • Good image and reputation of the company. A company's image is what makes it stick in the minds of potential customers. It's so important because your image instantly tells all your customers and vendors what kind of company you're running. If your image is excellent, it will make your company stand out from its competitors.
It is common knowledge that the nature of a business in the consumer based capitalistic economy we have here in America is to sell a product in order to make a profit. In order to make money and be successful, the company must inform the public that it exists and that it is the best product to buy. The inception of television advertising introduced commercials that were essentially functional and informative based on how the individual’s life was going to be improved by the product. As in the inception of printed advertisements, television commercials told consumers how the product worked and what its purpose was or informative advertising. Namely, these kinds of advertising sought to convey information about the effectiveness of a product, not to persuade us that we wanted it so bad to the point we feel we need it.
MISSION STATEMENT OF AMAZON To continue to offer quality products and services using the best technology available and at a reasonable price. This results in highly loyal customers, while maintaining shareholders interest and company profits in mind. We also want to expand geographically, increasing the number of customers and to keep improving our main competitive advantage - infrastructure. By working hard and having fun we seek to offer the best working environment to our employees, promoting career opportunities, and to increase our responsibility towards environment and the society. MISSION STATEMENT OF WALT DISNEY The mission of The Walt Disney Company is to be one of the world's leading producers and providers of entertainment and information.
As such, each of the unit must be fully furnished with the required resources to help develop their companies. This will imply the creation of synergy managers, portfolio managers and parental develops to help raise the level of growth within the company. The portfolio managers will help improve financial discipline, improve performance, keep costs on the down low, and provide few central services. Synergy managers will help pursue economies of scope, shared utilization of the resources available and the variation of local conditions to fit the organizational needs. Looking at the benefits of these parenting styles, the best group to observe the different styles of parenting is the Virgin Group.