Interior Dorm Design Company For Dorms

Most of the competitors offer custom furniture in specific styles or with limited choices. Doe Furniture needs to emphasize the custom nature of their work. They can offer to build specific pieces to order based on a picture a customer brings in, on the size and design of a room, or a customer may suggest the functionality needed for a piece and a piece will be designed for them.

Businesses are not only faced with competition within the industry they operate in. They also face competition from businesses in other industries.

RQ1: I would advise them to be very open minded and broad when defining their market they are competing in as to not exclude any and all potential competition.

Step 1: The business strategy goals are to capitalize on specialty products and offer products for all incomes. The business strategy is a collaboration of the broad differentiation strategy and focused market niche strategy. The broad differentiation strategy concentrates on “seeking to differentiate the company 's product offering from rivals ' in ways that will appeal to a broad spectrum of buyers.” The focused market niche strategy principles are differentiation and concentrating on a narrow buyer segment that may outcompete rivals by offering niche members customized attributes that meet their tastes and requirements better than rivals ' products” (Thompson, Gamble, & Strickland, 2006, p. 114).

Firms pursuing a specialization strategy often try to develop a competitive advantage based on customer intimacy and try to deliver unique and customizable products or services to meet their customer’s needs and increase their

Individual Assignment 1: Using a company that you are familiar with, explain how factors in the external business environment influence marketing strategies and outcomes

A good example is a children?s clothing store. They must be able to understand what has made their competitors like Carter?s and

Interior designers and education share a causal relationship; as the profession of interior designers increases, the quality and levels of education in interior design also increases. According to Us News and World Reports, the top four colleges to attend for interior design from #1-4 include Pratt Institute in Brooklyn, New York, California College of the Arts in San Francisco, California, Ohio State University in Columbus, Ohio, and the School of the Arts of Chicago in Chicago, Illinois. Colleges may require submitted sketches, designs, real work the designer has completed, as well as examples of artistic abilities. Many other universities offer a variety of courses including modern architecture and design, two-dimensional design, and a plethora of other core classes that are needed to continue. Post

“…Are the factors that need to be overcome by new entrants if they are to compete in an industry…” Home retail in the UK is very big, developed and competitive industry. It has well-known companies that are recognized for style, price, and costumer services. A new competitor can get easily to the market competing with better services, design products and price. But economic and legal aspects may be a reason for potential entrants to refrain to enter into the UK market as it represents a fairly large investment. Potential entrants need to penetrate into the market with a new kind of service or product. Example: Argos use catalogues to make sales through the market. IKEA, is known for selling ready-to-ensemble products.

The industry in which the company operates can be characterized as monopolistic competition. This is because, since there are no barriers to entry in this industry, threats of entry by potential entrants has made the industry some-what competitive. But the brand loyalty gained by the firms through massive advertising has rendered the firms within

2. Unique business model – expanding on the self-service trend with a unique twist and custom pricing options will be appealing to all consumers.

Porter’s five model is defined as the framework that evaluate the position of a company in the external environment with focus drawn on the level of competitiveness (Roy 2011). The framework considers factors such as rivalry, substitute goods, the power of suppliers and buyers as well as new entrants. Four forces can influence the success of Michael Kors. The first one is competitive rivalry. Here, the struggle is about maintaining performance despite different tactics used by different companies to increase sales. For instance, Ralph Lauren uses premium prices for quality products to differentiate itself, while Coach uses product variety within the line of handbags to remain competitive (Stewart 2016). Also, when the industry is flooded with similar companies producing similar merchandise, the probability of a company stagnating is high because consumers have a variety to pick from. Hence, the need to establish loyal customers.

Competitive analysis is an important part of your business plan, there are a lot of different alternatives in the market, costumers usually look for different sets of values to focus on, benefit levels and what does the item include when they are choosing where to buy the product from. Even though costumers usually choose similar products to those alternatives, and that’s where competition is created.

It may be that you will only be competing directly against some of these because you will be targeting a particular segment of the market or offering services which are hard to find elsewhere”( Market Research- Estimating Demand, 2012).

Most of the businesses operate in competitive markets: businesses have to take on and see of rivals or competitors.ALDI, a