Mydin offers varieties of similar range products as their competitors where they are still able to undercut prices by reasonable percentages. Mydin’s pricing strategy is low price strategy where this strategy emphasizes on low price products as well as maintaining the quality of their products. It also focuses on reducing the cost from their operation to produce lower price products yet good quality. Besides that, Mydin used low price strategy to attract lower and medium income group in across Malaysia. Therefore, lower and medium income families are willing to purchase at lower price and high quality products at Mydin. Nevertheless, Mydin able to sustain its customers for long period of time and it will increase customer loyalty through their low price strategy. In addition, this low price strategy may attract small wholesalers and petty traders in getting cheaper supplies from Mydin. “It has also contributed to the business expansion and is reflected by an increase in number of wholesalers and petty traders who have registered as their frequent buyers (Armum, N.D)”. Furthermore, Mydin also emphasize in bulk buying and bulk selling to enjoy lower prices. Thus, Mydin selling in bulk enable to cut cost as well as sustains lower price for its wholesaler, bulk purchasers and end user. Therefore, Mydin was encouraging people to buy in bulk in order to save more. In addition, Mydin purchase raw materials in bulk in order to save more cost. “Mydin sources merchandise both locally and from other countries including Bangladesh, China, France, Hong Kong, India, Indonesia and some more” (Armum,
Accordingly, to reach the scale of revenue required would mean increasing the number of transactions per month a few folds from 2,000 to 8,000 transactions. Moreover this would require not only increase in the marketing of the existing 2,000 products listed on the store, but a significant increase in the breadth of product offerings. If the number of vendors was not going to increase the current process might continue be manageable, nevertheless one of the Store’s strategies is to limit the number of products from each vendor to only 20, hence requiring an increase in the number of vendors fourfold which is relative to the increase in revenue.
The company has launched a new line of products in a bid to improve its competitive edge in the retail industry. In addition, the new line of products aims at meeting the demands of customers at all levels. The new line of products includes products such as vegetables, deli services, kitchen essentials, designer clothes, and décor products. These products are targeted to a certain group of
CHUCKTOWN, Va. – An undercover Tamoon police officer shot an armed Chicago man in the parking lot of the Credit Union 1 midday yesterday, police said.
c. To manage sales and inventory, UA recently adopted a new SAP system which will make future product expansion easier.
The sales composition is split into 37% from grocery stores, 20% from drug stores, 35% from mass merchants and 8% from miscellaneous sources. 70% of their total sales value is derived from 10% of their important customers. The company has foreseen valuable increase in their demand and is about to face some problems due to their traditional distribution network and their competitors. To focus these issues, they have decided to improvise on certain issues by collaboration with suppliers and customers which are discussed below.
Apply the Timmons entrepreneurship framework (entrepreneur-opportunity-resources to analyze this case. Analyze and explain Kalin’s traits and how he gathered resources for his venture. According to
“Smart-Toys-Smart Kids” is a toy manufacturing company. They are providing toys to retail stores in the region. The company has 500 employees. The CEO of the company Fred is looking for alternatives to streamline B2B transactions between his employees and the retail stores. Fred's information systems department has presented him with two alternatives for developing the new tools for better customer service with the retail stores.
This report examine that this product is initially launching in Lahore’s domestic market the study included both primary and secondary research. The primary study focused on a survey of the competitors and the liking and disliking of the people. Through
The brand seeks great opportunity to further develop the business, enhance product design as well as company’s brand image.
In this paper, I will be simulating, that as a project manager, I have been designated to design a new Direct sales and Accounting System for up a coming business “Especially for you Jewelers”, or EFYJ. I will be assessing Business benefits, explaining the capabilities, and giving examples of three (3) possible scenarios. I will attempt to create a Vision Document, Activity Diagram, and a Use Case Description.
turnover, which is made possible by low prices and limited product selection. This business model is appealing for them and has many benefits. Firstly, by setting up the business approach to rapidly
We had launched four products, comparably less than other groups which was five. Our products aimed for a niche luxury market with high technologies and expensive price. Rather than selling many products with different models, we planned to increase market shares of each specific models.
As the new technology and fast evolution of software, keeping information system efficiency became a challenge. On the enterprise side, the company’ operation, inventory, and logistics systems are the key to success. On the customer side, the high quality and satisfied experience from the user interface is very important. Moreover, the establish and develop a new technology is costly and different.
Businesses are established with the sole reason to provide a product or service to a customer with the intend to make a profit. The amount of time, effort, and resources spend should generate a profit. Then, the profit depends “on its effectiveness in performing these activities efficiently, so that the amount that the customer is willing to pay of the products exceeds the cost of the activities in the value chain” (NetMBA.com).