Even though a country has an absolute production advantage it may be better to concentrate on its comparative advantage. To calculate the comparative advantage one has to compare the production ratios, and make the assumption that the one country totally specialises in one product. To maximise the wellbeing of both individuals and countries, countries are better off specialising in their area of competitive advantage and then trading and exchanging with others in the market place.
brands franchise steers. Steers was founded in 1970 and ever since has been well known in South Africa for their flame grilled pure beef burgers and handmade chips. Over the past years Steers has undergone product development as well as to date holds 522 stores in total. In Steers life cycle formidable success and proudly hold the title as being considered the “First Fast- Food Burger Concept” with in South Africa, as well as Steers has been awarded many awards for having the best burger for 17 consecutive
Introduction South Africa’s fast food industry is one of the biggest and most competitive, with new restaurants coming into the market current franchises need to ensure they have a competitive advantage. KFC and Nandos are two of the biggest names and most successful fast food brands in South Africa, with both having over 300 stores across the country. They also are two of the most competitive franchises in the South Africa industry. Both of these companies have a rich history which helped them
In this section I will be discussing the advantages and disadvantages of local or international trade with specific reference to Illovo Sugar, a South African company. Local trade can be defined as the buying and selling of goods and services within the boundaries of a country where international trade is just an extension of local trade and it takes place outside the boundaries of the country (TRADSA, 2015:5). The company I will be relating to is Illovo Sugar. Illovo sugar is a company that sells
economy is driven by innovation” therefore more opportunities are created in the economy while consumers’ needs are achieved through new technology. In South Africa all of the organisations are functioning in the field of its own product and target market but if one takes a look at the bigger picture it is clear that businesses function in the South African business environment and sometimes in a more global environment. Therefore, it can be said that businesses are influenced by trends that are innovated
affordable fashion creates a competitive advantage over other major groups such as Edcon and Woolworths, which is a bit more expensive. • Mr Price has a wide demographic target audience, especially since they target LSM 6-10 , (middle to upper class) but also gets 24% from LSM 1-5. • It is well known and established and therefore has a competitive advantage over new entrants. • Mr Price has a variety of divisions namely: Mr Price Home, Mr Price Sport etc. This creates an advantage as brand loyal customers
well known in that they gain a lot of support from the public in south Africa, and they are both businesses which are opened internationally hence making the both of them competing businesses. And in this research project I have chosen to focus on assessing marketing for both of these Brands and Franchisers Many things can be applied by these two franchisers in order to make their business a success and to gain competitive advantage. And so with this project we assess and research how each of these
could improve and where it holds a competitive advantage in its market environment. Porter’s model will be used to analyse the challenges facing KFC in the market environment. Finally, strategies of how KFC has maintained a competitive advantage will be reviewed, and furthermore, new strategies that could be useful to the company’s future will be discussed. Background KFC was founded in the USA in 1930 by Colonel Harland Sanders. KFC was introduced to the South African market in 1971, making it
Technological factors play a major role in a company like Google and it is part of the company’s competitive strategy. Google is not only a search engine; it also provides many services, tools and products free of charge through www.google.com. Google's IT infrastructure is a closely guarded secret because it is one of the company’s competitive advantages. Google has up to 450,000 servers spreads over at least 25 locations and it uses a customized version of Linux operating
the sustainable competitive advantages of the entity, Revlon’s resources are categorized in accordance with VRIO framework as follows. The capabilities and resources fulfilled all the four criteria of VRIO framework provide Revlon significant competencies to create competitive advantages (Kumar, 2016). The competitive implication signifies that patented ingredients, proprietary technology and brand recognition are the resources delivering Revlon sustainable competitive advantages. To stay ahead of