Modifying a product in the existing market by changing its outlook, improving both its quality and performance, will create a more appealing product in the market (Maria, Grandinetti, & Bernardo, 2012, p. 73). This will attract more customers into buying the product, therefore, increasing the company’s sales. Apart from that, market development is another marketing strategy in the Ansoff matrix. This involves the company venturing into new markets to increase its client base. Opening up different branches at different locations will enable the company to reach new customers in areas that the product was not available.
Costco builds new warehouses and offices in other countries. There are many incentives associated with building new retail outlets in other countries such as access to more consumers and products. Costco applies new infrastructure and business laws in accordance with whichever country it is located in (Costco’s Global). By doing so, they gain access to new markets and new consumers while also avoiding economic and trade barriers. Costco also makes a point of tailoring each of its stores to the local culture by seeking out local retailers and providing local cuisine (The Costco Craze).
There should be sufficient employees at all times. “Companies were detaching jobs, placing workers on short time, or going into liquidation because they could not produce due to an untrustworthy electricity supply” said (Sapa, 2015). 5. Practical application of suggested KPI’s Profitability per business-according to Booysen, (2014) “Eskom’s sales decline along with its productivity, its revenue problem deteriorates. The Eskom disaster has now become a brake on the economy and the only long-term solution will be to find new managers for the usefulness, rather in the private sector.
In what way are business and human rights in conflict in this case? In what way are they not in conflict? There is a conflict between the company’s interest and the workers’ human rights. The company would want to be a “global company loved by people from around the world” but if words got out that a worker died due to their failure of providing safe environment for their worker, then it will ruin the company. We can assume that because of it, the members of the Samahan ng mga Manggagawa sa Hanjin Shipyard were not able to speak up about the incident fearing that they may lose their job.
Secondly, suppliers in emerging markets are faced the choice of ignoring their business and benefits if they wish to pursue sustainability and moral issues. Thus, what decision should suppliers make in this situation??? This question really forces us to think twice about suppliers’ responsibility. For example, they should pay the workers as much as they are concerned with the workers’ welfare while suppliers cannot do that as these suppliers are attracted by other companies due to cheap labor and operational costs. Another choice for suppliers to make is to fire these workers but the side-effects of this decision on workers’ life is so harmful as they possess no skills to save their lives.
Recent Study by the United Nations High Commission for Refugees (UNHCR) indicated that western countries and strong economies of the world accept very few refugees into their countries. This denies such people homage or employment in such countries. The USA is also grappling with illegal immigrants who view it as a potential employer whereas; the laws of the land do not allow free migration (Lewis, Sargeant, 2013). Internal Resistance to Diversity – In every organisation, a culture is developed and upheld or transferred to newcomers. If diversity efforts are to be successful at introduction, a lot has to be done to change the culture of that organisation (Bratton, Gold, 2012).
The advertisement helps the organisation to reach to their targeted customers in an effective manner and at the same time, also enables them to develop a superior relationship with the public as a whole. Other techniques that are used in marketing are mainly transactional marketing, viral marketing, and mass marketing. The marketing process helps the organisation to increase the customer base for the company, which in turn leads to the development of the sales level for the organisation. Different marketing techniques must be incorporated within the marketing strategies of the organisation so, the companies are able to enhance their operations and at the same time develop in the near future (Hynes and Janson,
• Search Engine Optimization, Billboards, television advertisement, radio adverts, using Social Media Influencers of that area to spread word of mouth are just some of the marketing strategies to be used when penetrating into new markets. Cost Leadership • As a new brand in a new region, cost incentives such as discounts and in store specials. This will benefit the Markham brand in terms of higher returns, crushing existing competition. Backward Integration • With the acquisition of Prestige Clothing by the TFG, this gives the Markham brand a competitive advantage, because now it can manufacture its own
(Prove? )This is because when the industry is growing, there will be more consumers in the market for Muji to target and therefore, it allows Muji to increase their market share. Innovation of new products is also one of the opportunities as the consumer market in Malaysia is always looking for the latest products and fashion. (Prove?)
With the continuous increase in the penetration of the international market in the local scene the local brands are forced to offer discounts that will increase brand attention and promotion to be able to compete with the merging international brands. One technique to campaign the brand is to