The primary benefit of technology is efficiency. Businesses--from small businesses to large conglomerates--are capable of providing products and services at a faster, more efficient rate which can result in higher profits. In an effort to free resources and become more responsive, business leaders across the industry spectrum are reshaping their business priorities, stretching budgets and applying greater scrutiny to capital expenditures. Some have found that when a precarious economic climate requires quick action, a company can open new avenues for growth by strengthening and redeﬁ ning what is truly core to its business. There are several additional factors one must consider when implementing mobile officing across many different offices across different
Relationship with the customers can be used positively to continuous customer retention and to increase repeat purchases. Stay with future challenges of new technology The truth is customers put attractiveness before efficiency and this puts the company at a risk of consumers moving to other websites provided it is similarly useful as Zappos.com. Zappos has to take initiatives to redesign its websites to be more user-friendly and attractive. In overall, Zappos will stay on the market with the given
The progress of your company is directly related to the success of your marketing. With proper digital marketing, you’ll be able to find new strategies to increase profitability and stay ahead of your competitors. You’ll be able to harness the reach and power of the virtual environment to enable your business to thrive. When you’re running a company, time is a precious commodity, and marketing your brand can take up plenty of your time. That is why it is a smart move to outsource your digital marketing services to an agency that knows how to reach customers in the digital world.
It follows product and services updating strategy by launching new products and services over and over. This helps Samsung to maintain its trademark and achieve the objective of survival. Samsung faces strong competitors who shape a sort of threat for itself in the market; other companies like Apple, Sonny and other similar companies. To deal with these threats, Samsung innovated its current products and make new mobile phones with the most features while keeping the price a it lower than other competing products. Samsung tends to face greater competition by offering real benefits to consumers by initiating new products and lunched several hybrid products that can keep their current customers’ loyalty while attracting new potential customers to try the new products.
Customers are used to products that continually improve and make their life easier. Modern consumers are more informed and have more options in terms of what they buy and whom they buy it from. Essentially, customers won't accept mediocre products because they know they can always go somewhere else. Innovation is important, as it is one of the primary ways to differentiate your product from the competition. If you can't compete on good prices, you'll need innovative products and ideas to make your business stand out from the crowd of competition.
Generally, companies invest more in information to respond quickly to their customers. Growth in information technology is an evidence for the importance of information as a driver in improving firm’s performance. As information driver is used to making supply chain, both more responsive and more efficient, there is a less room for the trade-off between responsiveness and efficiency. But we cannot say there is no trade-off at all as it depends on the valuable information in reducing cost and improving responsiveness with the supply chain. Based on the supply chain structure and customer segments, the decision related to the valuable information will vary.
Generally in today’s world, businesses must always strive to invent and create unique things to attract the consumer. Consumers desire continuous improvements to products, making it better, faster and cheaper. E-commerce is constantly progressing therefore businesses need to keep up with consumer trends in order to have the competitive advantage against other businesses in the industry and to be successful and survive E-commerce benefits the business by providing opportunities to generate a greater profit and advancement to a business while creating better options for the consumer. As seen in the discussion above there are several key factors, decisions and practices that should be considered when including e-commerce in a business for its success. Reference list Christopher, M 2016, Logistics & Supply Chain Management, 5th edition, FT Publishing International, United Kingdom.
Transparency is a not a principle but a tool to increase trust, empower employees and widen information flow so that both employees and customers can be benefit. Vince Cable (2014) states that transparency and accountability are both essential because it removes the veil between a business and the consumer thus changing the relationship and increasing trust. Lack of transparency with respect to those who really own and control companies can allow tax evasion, money laundering and terrorist financing to flourish. When a company makes its operations transparent, it reveals them not only to its customers but also to its competitors ( Julia Kirby 2012). Maintaining transparency in a fast-growing company’s culture is not as simple as rolling out
Now, the team work has become much more engaged and it has boosted a whole new level of co-operation. Streamline Business with new technology Implementing tools to assists in modernization of your business and keeping up with the technology will make harvesting your profits rather easily and with lesser efforts. Your business can’t afford to compromise on company’s levels of profitability, productivity and security. By implementing new technological elements and efficient office management tools you are making your business much more streamlined accompanied with adequate protection. With effective technological renovations you can enhance workplace profitability and
Ferrell (2005) states that product is the core of the marketing mix strategy in which retailers can offer consumers symbolic and experiential attributes to differentiate products from competitors. On the other hand, it should be stressed how the consumer perceive the product. Modis (1998) associated new product development with the smartphones by stating that product mutations grow at both the start and end of the product life cycle and that more mutations will bring more chances that some smartphones will survive and will become established products. As such, destabilization and chaos must be encouraged as part of the product development strategy. Nilson (1995) is of the view that the introduction of a completely new and innovated product is one of the ways to bring chaos into a market and according to the author, this will destabilize the market.