The Better Way Company started in 1988 in a 3 unit building with 10 employees. This was the brainchild of Dr. Amornthep Deerojanawong who wanted to bring quality products to Thailand consumers at an affordable price. The company started with 10,000,000Baht and its current sales for 2012 were 10,000 million Baht (“History”, 2014). In addition its current office is a luxurious building site on 30 acres located on Ramkhamhaeng Road in the suburbs of Bangkok boasting “Future Gardening” by French botanist Mr. Patrick Blanc (“History”, 2014). The company has quickly grown with its direct selling approach, fast deliver of products and increase branding. The company has combated several issues over the years to gain market share, loyal …show more content…
This is a high end product to help reposition the company with high end consumer base of professionals. In addition, the company is pushing its B-class marketing to help expand the product into the higher income consumer (“About Us”, 2014).
Weakness
• Narrow Customer Base
One of the strong areas of weakness is the limited or segmentation of the customer base with the Mistine line. The company developed a product for the Asian population with a target on the low or middle income consumer. The product is designed to meet the needs of the Asian population and not easily transferred to other global markets. The eyeliner and whitening products are based on Asian needs not north or Western culture.
• Fast Growth
The company has grown to be one of the largest in the Thailand areas utilizing direct selling. However the company fast grown could have left areas open for competition and loss of production. In addition the company has quickly expanded into Europe, Africa, Australia, South America and North America could spell disaster
- Tangible resources: Some items ranging from apparel to household electronics are defective placed on the store floor.
Although the company has been in business for over a hundred years it has encountered several challenges. One weakness is its image. As described earlier this image is not conducive to one to be associated with the kindler, softer side of humanity. Another threat or weakness is the continued outsourcing of manufacturing of parts and accessories into overseas markets and companies. Although, there is no set percentage
Target Corporation is known worldwide as a large retail chain that brings in millions of dollars each fiscal year. The ability to remain competitive in a saturated industry could prove difficult to some retailers, but Target remains one of the leaders in the retail market. With success comes risk. Target Corporation competes against online retailers as well as “big box” stores to remain competitive.
The cultures of those countries are also similar to the Thai culture and the slogan “products that are developed and formulated especially for Asian women” will also appeal to those women. When penetrating international markets Mistine will face the following difficulties:
As the company continues to evolve, it still stays true to its attractive qualities that have earned millions of loyal customers around the world. They have a commitment to quality. By only carrying 4000 stocked units in the warehouse, compared to 30,000 at your local super market, it can carefully choose its products. This insightful selection is based on quality, price, brand and features. Therefore, having the ability to offer the ultimate best value to its members.
This report presents the meetings that have taken place here at CanGo. For the short time I have been observing I have learned that CanGo is a small company but is one of the fastest growing companies around. During the meetings none of the staff members talked about the effects that online gaming would have. Furthermore, staff didn’t ask opinions on the online gaming topic they also didn’t speak about price of stock or how it contribute to the overall strategy. Some employees would like to see some firm financial projections before implementing the online gaming. During the meeting the staff assumes they would have to settle for the preliminary marketing plan.
In 1983, Jim Sinegal’s idea for a new business was a place where there were no signs identifying isles, no advertising, no way for customers to bag their purchases, and before customers would be allowed to shop, they had to pay an annual fee. That business is Costco and during Jim’s 30 years as founder and Chief Executive Officer (CEO), he grew that business into the fourth largest retailer in the country. Looking back on the legacy Jim left behind when he retired, it is clear that Jim is one of the most visionary and ethical leaders of our modern times. First, we will look at how Jim implemented his vision while demonstrating idealized influence by setting aside his self-interests and gaining the trust of the customer for the good of the company. Then we will explore Costco’s code of ethics that employs Dr. Toner’s principles of owing, ordering, and oughting. Finally, we will explore how Jim’s leadership style has impacted me and influenced my leadership.
One thing that I noticed in my reading of the case is the lack of advertisement. Even though the company has a great reputation, they need to advertise in papers and other media channels. This will let future customers
So currently Next are having a few small problems due to the consumer environment and changing trends. But as it is a big company and finically strong the chief executive believes ¡§it¡¦s not going to break the company¡Kand we will still have growth¡¨
Many patients’ lives have been saved and improved, due to the staff’s cutting edge innovative ideas for treatment. The rest of the services offered at Barnes-Jewish Hospital are all equally stunning in the quality of care provided to patients. Patrons can be sure to receive the most up-to-date care and will be attended by some of the best staff in the country. The hospital is dedicated in extending their outreach programs and providing services to the surrounding community (Barnes-Jewish Hospital, 1997-2012).
However external factors they cannot control, because of the economically uncertainties, it’s hard for the brand to forecast operating results. Therefore one of the main risks they could be facing in the near future is the slowdown in the worldwide economy and more particularly in China. If there is a slow down in the Asian economy it would greatly impact the company’s profit since Asian- Pacific region accounts for 24% of their biggest market sales.
They are facing difficulty in logistics and procurement restricted to imports from Taiwan. Sometimes, they are also have marketing budget of their products during their promotion.
The core problem is about their management style in top level. With such a highly efficient production line plant, the company 's management is like a job-shop, the executives take charge of every small decision of almost everyone. This greatly weakens the possibility to expand, because the one or two top management are not available dealing with so many daily issues. In addition, due to the size and life-long
Harding Loevner International Equity vs WCM Investment Management International Equity (HLMIX and WCMIX are proxies that represent the respective portfolios)
Better Way, the parent company of the Mistine brand will need to be strategic in its plan to expand internationally while maintaining its presence and leadership in Thailand. Building on its reputation as a high-quality, value-priced company, Better Way must retain that position during expansion. This means they will need to be deliberate in their ventures to new markets. Careful research and selection of targeted locations will be key elements to success. They must identify what type of a company they want to be. They currently offer products designed specifically for Asians