4 - How would you modify Trader Joe’s strategy going forward? In my opinion, one of the concerns of mine about Trader Joe’s is to eventually gat harm because of not having enough technology inside the company. As technology improve each day, it creates a simple world than before. The technology eases our life and so it should do the same to Trader Joe’s in terms of some operational activities. Self-checkout kiosks vanish endless queues and speed ups the process of shopping both for costumer side and seller side.
EXECUTIVE SUMMARY TD Corporation is preparing to launch a new department store specifically for party supplies called Party City. Party City is positioned world wide by the slogan “Nobody Has More Party For Less” – indicating that the store offers more in the way of desirable product features and benefits at a competitive price. TD is taking advantage of the lack of resources for this market on the island. Party City will target multiple age structures of the population because the various events that are planned throughout an individual’s life-cycle. Other target markets will include those from the Psychographic and Behavioral segments.
The economic factors can influence the cinemas because the customers don’t have the money to watch the movie and buy the ticket. In this place in might be the cinemas in down and dangerous situations. Politics also Cinema’s risk factors, because governments can rapidly transform a business rules that negatively disturb Cinema’s business such as in Indonesia that the government don’t make the cinemas in that state. The new company must know about the company that they want to compete. For the new company that want to joint in this industry must have big capital to build the cinemas with the latest of system technology of cinemas that can make the customers can choose the new company compare the others companies.
The drink’s name is essential for customers to go outside and buy it, yet, in the ad the company hardly mentions the name of the drink. If the advertisement included the drink’s name throughout the commercial and mentioned it multiple times it would bring more awareness to the drink. Awareness directly correlates with people not forgetting the name of the drink which in return will increase sales of that drink. To make the source more effective would be to include some humor or satire. Humor is a great way to include the audience into the ad but provides great entertainment.
In this negotiation, the first characteristic satisfies the article because Macy’s and Hudson Bay are the two parties. The second characteristic of a negotiation is that there’s a conflict of needs and desires. In this negotiation, Hudson Bay is interesting in buying Macy’s, in order to increase and make their business more profitable. On the other hand, Macy’s is considering in selling their company or making it private, but it all depends if they encounter with an acceptable agreement. Also, considering that Macy’s have tried so hard to compete with other retailers and has even decided to change CEOs.
In order to satisfy the needs of consumers companies can have surveys where consumers can suggest and comment on the companies’ products. Allowing consumers to voice their opinion and give constructive criticism will allow both companies to succeed and grow. I would also recommend both companies to take risks. Taking risks such as developing a new concept car that is not already out in the market could help the company become a leading competitor, because such product would create an impact on consumers because it has never been seen before. Although, taking risks does not always ensure success it does allow the company to grow by error.
1. Choose one of the companies listed here and explain how it has achieved business success. I personally believe that timing is one of the most important things when making a new business. In Robert Nardelli case; he was able to make a lot of money off of the Baby Boomers by helping furnish new homes with quality goods. He also made it easier for the customer to shop by implementing technology into his stores, things like self-checkouts and wireless scanners.
The Nardelli reign did focus on implementing technology, but only to increase self-service in the stores. This change only decreased the number of employees that were available and on the floor to assist consumers. Technology is still a key area of change at The Home Depot, only now the store uses technology to be more transparent in its pricing. The Home Depot has partnered with competitive price intelligence vendor BlackLocus to continue its innovative trail by developing an application that would allow the company to compare its prices with its competitors. This has allowed The Home Depot to keep its promise to provide low prices.
Place: H&M sticks to keeping their company in a busy area, such as a big city shopping centre. The store comes with a great atmosphere which includes good mellow music and friendly employees. Some stores are so big you could spend hours looking around and be okay with that because it is such a lovely shopping experience. Even if you are the type of person who doesn’t like to go out and shop, H&M is going to be offering online shopping in the near future. Promotion: The main way H&M promotes their clothing is by their magazine which is where you can see many of your favourite celebrities like David Beckham, Madonna, Lana Del Ray and many others wearing the companies clothing.
In addition, open more stores in crowded location, particularly on big cities such as Tokyo, London, Hong Kong. Pop up stores in festivals/carnivals in those particular cities would increase more attention from the customers. Product The product must target on an all age range of the customers with high quality. The company should have product that meet the demand of customers, group product for couples, families, friends would be a great way to increase the production line. The package should provide in eco-friendly way (paper wraps only / avoid plastic wraps).