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Caribbean Market Research Paper

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Company Description Caribbean Market is partnership business with 20 locations within the United States, owned by two Caribbean born females who have always wanted to run their own business after graduating high school. After a few years of saving and working extremely hard their dream have finally came true. Caribbean Market business structure is centralized organizational structure, the reason why this type of structure is in place is because of the fact that decision-making responsibilities are focused with a few key leaders. As a result of having a few numbers of decision makers it is faster to execute complications within the business. Executives are abled to gather information and efficiently examine pros and cons of decisions in a small …show more content…

To accomplish this mission Caribbean Market has to determine some attitudes, rules, processes and procedures, such as open door policy, this means that managers doors are open to all employees; three basic beliefs and values this means respect for the individual, service to our customers, striving for excellence. Ten-foot rule, which means that all employees must greet, make eye contact and help customers who come within ten feet. Also, being able to answering employees, customers, and suppliers questions on the same day the questions are received. This mission statement reflects on the strategies Caribbean Market uses because the company’s main purpose is to provide lower prices of goods and services to its’ consumers and Caribbean Market only uses strategies that will help bring prices down (Farfan, …show more content…

Firstly, the company wants to provide its customers with low prices, which will attract a large population. Caribbean Market’s product is it retail service. The company will attract its customers by providing convenient and effective services. Our employees are trained to efficiently assist shoppers in finding the good they need. By helping our customers finding everything that they need will increase store sales. At the ending of 2016, Caribbean Market extended it’s food assortment. The revenue that was produced from the year 2016 was 11.6 billion. For the next three years 2017, 2018, 2019 Caribbean Market estimate it’s sales to grow to range between 3 to 4 percent annually, which will be approximately $45 to $60 billion in sales. (Williams, S). SWOT Analysis Strengths Wide range of products Having a wide range of products can be a good thing because it can build the sales and move the company in a whole new direction. Scale of operations Caribbean Market captures the market share with its everyday low price strategy. Caribbean Market train its’ employees because the company believes that people are the key to the

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