The competition between them is very high as the size of market is large and product are diversified in various numbers. Some of the companies are successful and some are not due to the less sales or any other reasons. So one attempt is taken to study the customer satisfaction towards the amway company. Since amway is a retail company so the main motive is to satisfy the customers, customers should not face the issues or the problem with the company. In todays world If a company wants to exist in the market then that company have to retain its customers.
In addition to this, the annual reports can also help to discover the benefits of adopting this strategy. The information and understanding of the potential investments and market forecast from the perspective of existing competitors can be very helpful to enhance the diversification strategies. 32 Generally, market diversification focuses on the areas which are not one of the company’s core competencies defined in its portfolio. So stakeholders involved in the decision making for implementation of diversification strategies know the discomfort of the risk involved when working outside their knowledge base. To manage to get succeed in the diversified market, a company should be able to match the R&D of their competitors.
Generally there is a given word count for the assessment and learners have to attempt to match that word count. Reliable This factor is mainly important for teachers to follow. All assessments for all their learners have to be the same. They should be carried out in the same way, setting and with the same amount of time given to complete. This ensures all learners are fairly treated.
The strategy that lazarus employed toward growth was in establishing a customer centric approach.Lazarus care most about the customer, as well as the growth of the company. He`s focus was not on exploiting customers, but in providing the best value he could to the customer. He utilized a market penetration strategy, providing goods to customers at low profit margins with the efforts focus primarily on gaining market share. This strategy also creates barriers for entry to competitors who had low profit to contend with as well as rapid expansion of nation wide stores. With the expansion, Toys R Us started acquiring competitors stores within foreign and domestic reach (Reference for business, 2015).
A good brand understands that its service should be available, fast, reliable and at the right price. Customers when they are satisfied they will return to buy the same product and when they realise that the quality is the same they will try to inform others as well. Hence, the company not only gains good reputation and loyalty from the existing customers but it also increases its profits from the new customers. Wal-Mart and Amazon.com are great examples of well-designed and well-functioning supply chain management. Mistakes in the supply chain may cause disruptions and make the product unavailable as it happened with Adidas, the company suffered because the customers could not find the product on time at the right place.
(M. Billur Akdeniz, 2010) When dealing with Businesses in a B2B market there is often an extreme focus on the quality of the product provided, unlike consumers in a B2C market, B2B businesses demand high quality standards and are far more vocal about their standards, if their standards are not met by the supplier it could potentially push them away to other suppliers. Although there are fewer customers in B2B markets they are far more profitable than the average B2C consumer, strategies such as product promotion can communicate to their potential B2B consumers as it is more content-orientated and personalised. It is important for a business operating in a B2B market to focus on providing competitive prices, reliable delivery of products, and forms of after purchase support services to those businesses they work with, with additional support and input even after the product has been provided the supplier gains a unique offering with a combinations of their services potentially causing businesses who work with the supplier to show loyalty. (Hutt,
However , Puma normally uses premium pricing strategy because Puma views its brand as premium. Premium pricing strategy means maximizing profit in areas where customers are happy to pay more. For Puma , premium pricing strategy may not be the best pricing strategy as nowadays , there are more and more price buyers , which means people who buys products at the cheapest place and only see the price as the only consideration . Even when price buyers were once a loyal customer of the company, if this strategy continues , they may not still be loyal and may go to other cheaper companies to be their loyal customer. 5 P : People Puma has always provided high quality customer service to customers and sales would provide trailor-made services to clients.
In the modern economy, businesses are encouraged to compete in pursuit of profit. They would be providing goods and services that a society demands, and then they get compensated for their efforts, therefore there is nothing evil or shameful in pursuing profit, as long as it is within the boundaries of the law. Advertising is tool that is required for the business process to carry on, by communicating the right products to the right customers. Since the marketplace is only getting fiercer every year and products are getting commoditized, marketers are finding it difficult to compete, so sometimes they resort to using deceptive methods to market their offerings. Kantian Ethics: From a Kantian perspective, businesses have the duty to provide goods and services that meets the needs of customers.
In fact, a growing number of companies have begun to realize the relevance of brand orientation and the high value their brands provide as assets (Keller, 2013). First, focusing highly on the main purpose of market orientation, i.e. satisfying customer needs and wants, might result in inconsistency and poor management of the brand and the business (Urde, Baumgarth, & Merrilees, 2013). Though it may save the pure existence within the market, it is a certain focus on brand orientation and thus the establishment and perpetuation of powerful brands that provides the ability to compete and generate growth and profitability (Urde, 1994). Second, the two approaches of brand and market orientation are both different and synergetic since they provide hybrid versions that are more likely to occur than pure brand or market orientation.
PDB continuously create new and innovative products as well as achieve the robust growth in Retail and Lubricant sectors. The headquarters of this company is located at the PETRONAS Towers in Kuala Lumpur. 1.1 Vision PDB’s vision is to be the “Brand of 1st Choice” which drives the core values of what PDB stands for, which comprises of delivering a high quality, innovative concepts, excellence and differentiating experience for petroleum products and services in Malaysia sector. With a wide range of differentiated products and services offered to meet all the customer’s needs, PDB wants to ensure they continue to recognize PETRONAS as their preferred brand in the oil and gas sector. 1.2 Key of Success The key pillar of PDB’s strength comes from the extensive logistics and distribution network of the company which was established over the years.