The Product Differentiation Strategy Marketing Essay

The Product Differentiation Strategy Marketing Essay Excellent Shoes Manufacturing Pte Ltd has the options of using different strategies in their business; using appropriate examples, describe your understanding of these different strategies and suggest what strategy you might recommend the Company to use. In present day the economic is flexibility and the company that be able to survive in this field should know how to manage their own resource in the maximum efficiency and need to follow the market change and movement, the way to do this depends on the different technique and operating diversely on strategic management of the company. Especially, in the consumer markets which there is a high level of competitive. It is the essential that every single company should open up its market in new area, expanding further with modest ambitions or operating in additional differentiation products in markets annually. These factors are main causes to bring successfully to business which I believe that it depends on how the company maintain competitive advantage in business strategies? , What types of strategies are available in the business environment? Another important aspect is that the company can use flexibility standard strategies or develop its own strategy or not? In term of Excellent Shoes Manufacturing Pte Ltd, with the size of medium business, I feel that the company can use different of business strategies, according to its situation. For example, at the beginning, when the company was established, it may face different challenges than at the present. Moreover, the business strategies that it is implemented may be different from its competitor. In my point of view, I believe that there are four types of business strategies by following these: 1. Growth Strategy A growth strategy conduces introducing new products or adding new features to existing products. Sometimes, the company may be forced to modify or increase its product line to keep up with competitors. By using the new technology of a competitive company is a core concept to play on growth strategy. For example, the company is likely constantly adding new features or discovering new technology for shoes healthy design in order to save customerà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s feet while they are wearing. As a result, shoes companies that do not keep up with consumer preference would not stay in business long period. Moreover, the firm may also adopt a growth strategy by finding a new target customer group for its products. Sometimes, it can find new one for its products by chance. For example, as a result of the company is a specialises in the manufacturing and supply of high fashion leather shoes and the manufacturer may discover through marketing research that young teenagers in school like its products. Hence, in addition to selling fashion leather for students in order to distribute to retail stores or shoes shop in school, the company could design the shoes product in format of school styles. 2. Product Differentiation Strategy Most of companies will often use a product differentiation strategy when they have a competitive advantage, such as superior quality or service. For example, the shoes manufacturers may set themselves apart from competitors with their superior engineering design or manufacturing technology. Obviously, companies use a product differentiation strategy to set themselves apart from key competitors. However, I believe that a product differentiation strategy can also help a company build brand loyalty. It can see that today, the company is known in the local industry and it is amongst the top companies who can produce a high quality pair of sports shoes and ladies fashion leather shoes. 3. Price à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Skimming Strategy A price-skimming strategy involves charging high prices for a product, particularly during the introductory phase. The company will use a price-skimming strategy to quickly recover its production and advertising costs. However, there must be something special about the product for consumers to pay the excessive price. An example would be the introduction of a new technology. By doing this, it may be the first to introduce a new type of new sport shoes aerodynamic design or leather formal shoes modern styles. Because the company is the only one selling the product, customers that really want in trend by wearing new one and willing to pay the higher price. 4. Acquisition Strategy According to the size of company with extra capital may use an acquisition strategy to gain a competitive advantage. An acquisition strategy conduces purchasing another company. For example, the company may purchase a polyester factory or a leather factory in order to expand its operations and to control cost of shoes raw material. 5. Cost Leadership The benefit of formulation this business strategy is that the company will consciously choose to position its company as a provider of products or services at the low end of the pricing point compared to its competitors. Moreover, it could make up in volume what they may forfeit in terms of a high price point. On the other hand, Cost leadership is a business strategy that allows a company to become the lowest cost production company in an industry. Traditionally, businesses have two key options for improving profits by increasing sales or decreasing costs. By doing this, the company need focus more on acquiring raw materials that are the highest quality at the lowest price. Another important aspect is that the company must also use the best labour to transform raw materials into valuable consumer goods. Low-cost leadership usually translates into high-quality goods at low consumer prices. The capability to undercut a competitorsà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ price often leads to increases in market share. In term of suggestion, what types of strategies should be formulated for Excellent Shoes Manufacturing Pte Ltd; I claim that the company could bring the result from the step of strategy analysis and to consider in these questions, what the external and internal environments that are confronting are? How the company can organizes and combines its resources in order to build its strengths, to eliminate its weaknesses and to sustain core competencies? How the company can achieve to find good opportunities for growing the business and to keep changing of posing a threat. From the consideration in those questions, I feel that I could recommend the company to use cost leadership strategy. As of the issue that Mr. Pattakorn is worried about the return of the investment in terms of profit is not as good as it was during his fatherà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s time. Conversely, the firm seems to have grown bigger with the manufacturing of many more pair of shoes. It is likely that the firm would have the problem from too high production cost. I believe that if the company can review and to control production cost, it will bring back the outstanding profitability. To sum up, sometimes, businesses would look for a combination strategy to please customers looking for multiple factors such as quality, style, convenience and price.

Division/Classification Essay: Three types of children Essay

Anyone who has spent time with or around children will notice that each one has a special personality all of their own. Children, like adults, have different traits that make up their personalities. Experts have researched this phenomenon in detail and classified children into different categories. The three categories that most experts agree with have been named â€Å"flexible,† â€Å"fearful,† and â€Å"feisty.† Children generally may have similar interests, but the way they interact and deal with these interests displays their personality type. The first personality type is called flexible. This is the most common of the three types. About 40 percent of all children fall into the flexible or easy group. These children usually handle feelings of anger and disappointment by reacting mildly upset. This does not mean that they do not feel mad or disappointed, they just choose to react mildly. These actions mean the flexible child is easy to take care of and be around. They usually adapt to new situations and activities quickly, are toilet-trained easily, and are generally cheerful. Flexible children are subtle in their need for attention. Rather than yelling and demanding it, they will slowly and politely let their caregiver know about the need. If they do not get the attention right away, they seldom make a fuss. They patiently wait, but they still make it known that they need the attention. These children also are easygoing, so routines like feeding and napping are regular. The next temperament is the fearful type. These are the more quiet and shy children. This makes up about 15 percent of children. They adapt slowly to new environments and take longer than flexible children when warming up to things. When presented with a new environment, fearful children often cling to something or someone familiar. Whether it is the main caregiver or a material object such as a blanket, the fearful child will cling to it until they feel comfortable with the new situation. This can result in a deep attachment of the child to a particular caregiver or object. Fearful children may also withdraw when pushed into a new situation too quickly. They may also withdraw when other children are jumping into a new project or situation they are not comfortable with. These children may tend to play alone rather than with a group. The third temperament type is called feisty. About 10 percent of children fit into this category. A feisty child expresses their opinions in a very intense way. Whether they are happy or mad, everyone around them will know how they feel. These children remain active most of the time, and this causes them to be very aggressive. Feisty children often have the tendency to have a negative persistence and will go on and on nagging, whining and negotiating if there is something they particularly want. Unlike flexible children, feisty children are irregular in their napping and feeding times, but they do not adapt well to changes in their routines. They get used to things and won’t give them up. Anything out of the ordinary could send them into some type of fit. If these children are not warned of a change, they may react very negatively. Feisty children also tend to be very sensitive to their surrounding environment. As a result, they may have strong reactions to their surroundings. Generally speaking, children can be divided into three groups, but caregivers must not forget that each child is an individual. Children may have the traits of all three of the personality groups, but they are categorized into the one they are most like. Whatever their temperament, children need to be treated according to their individual needs. When these needs are met appropriately the child will be happier, and those around the child will feel better also. Knowing the general personality types and how to react to them will help to make the caregiver’s job much easier and aid in the relief of unnecessary stress.

Reward Management Essay

Recently, Reward Management is an important role in Human Resources Management. Many organizations realized the benefit of the reward system , in a way that it could reinforce the employee’s performance, enhance motivation and gain their commitment. For example, when employees know that rewards are tied to their performance, they will try to perform better and take ownership of their jobs. Also, it is a motivation that makes employees evolve a sense of accomplishment and take pride in their work, which in turn increases ownership. Remuneration is a major feature for employment. It is the reason that why people are working. The contribution of employees to the organization can be compensated in terms of monetary or non-monetary terms. Remuneration does not just compensate employees for their efforts, but also affect the recruitment and retention of talented people. There are three recommendations for improving performance by using modern reward management techniques. First, we would recommend that remuneration to be linked to performance, linking to the pay to the quantity of the employee’s output or productivity charts, and therefore the remuneration with be depending on the result, whether the outcome is to be of good quality or outstanding quantity. Another type of performance-linked remuneration is performance related pay, where the performance of employee is measured against previously set objectives, or compared with the various tasks listed in the job description by using performance appraisal system. Based on the above features, we propose to add in these kinds of features into the reward system. We can hold some reward planning, which is related to pay that to encourage most of employees. Secondly, staff motivation can be enhanced through the reshaping of working routines and hours. Nowadays, many employees have complaint about the long working hours and the private life being invaded. However, reducing working hours is not always possible due to the huge amount of workload. In order to deal with the problem, we would recommend flexi-working hours. The concept of flexi-working is to suit the convenience of the employee without influence the organization’s functioning. Nowadays, many people are busy on working, studying and managing their family life. To such extent, flexi-work allows flexible entry and leaving times for employee, which is beneficial for employees in managing their time schedule. Being able to manage their work, study and family life, they are able to obtain a work-life balance, and thus being able to increase their productivity, decline in absenteeism, and reduction in employee turnover and increases their moral. Thirdly, competition among work increases vigorously, and employees tend to undertakes different training courses or opt for further study. As a result, we would recommend the linking of training or education sponsorship with the performance. For example, if the employees opt for a course related to their job nature, the company can sponsor their cost of training. In order to enhance performance, we suggest the amount of sponsorship to be linked with the employee’s performance, and the payment is to be made upon the successful completion of the course. To such extent, the employee’s motivation to perform is enhanced, and they are more willing to equip themselves with the necessary skills related to their job. In conclusion, reward management is essential in managing the performance of the employee. Remuneration is the major and yet the most essential element in employment term, and therefore managing the reward system can effectively enhance the employee’s performance and motivation. Yet, both monetary and non-monetary reward can be used for the aforementioned purpose.

Power of Citizenship - Free Essay Example

Sample details Pages: 3 Words: 825 Downloads: 9 Date added: 2019/04/15 Category Society Essay Level High school Tags: Citizenship Essay Did you like this example? Over the course of my civic engagement experience, I met and talked with a lot of people. I got trained, and volunteered many hours with the on-campus voter registration drive, attended the Clear the Haze debate, worked with my teammates, and participated in Change Your World Week. interacting with so many people in a relatively small amount of time is always an interesting adventure. Don’t waste time! Our writers will create an original "Power of Citizenship" essay for you Create order Meeting so many different people with many different and sometimes opposing viewpoints, has helped me to expand my own. These experiences gave me new and unexpected insight and connections to the content I learned for class. As I learned in chapter one, and in my own experience, public policy is very important. Public policy is a purposeful action or actions taken by the government to reach a specific goal or objective. Examples of public policy include the environmental policy and the energy policy. Public policy is essential, it keeps our country from falling into chaos, as it is what regulates most every aspect of our government. When it comes to veterans healthcare, it is very obvious that public policy is very important and closely related to this issue. A change in the policy around veterans healthcare is needed, as I found out not only in my research, but also in talking to veterans themselves. The staff of the Delta College Veteran Services Office and many veterans I talked to at Change Your World Week, agreed that changes needed to be made, the current policy is simply not cutting it. In reading chapter six, I learned about public opinion and what it is. Public opinion is essentially the opinion of the public, to be straight to the point. Is it the culmination of the attitudes and beliefs of individuals about certain issues or officials. If anything is to get done in our government, a supportive public opinion is very helpful. As we are a democracy, the government is intended listen and respond to public opinion. I received quite a hefty dose of public opinion while taking part in Change Your World Week. most of the students, staff, and passersby were ready and eager to tell me what they thought about the issues currently surrounding veterans healthcare in this country. My group and I also were a part of that public opinion as we shared our thoughts to others. Overall, I learned that the overwhelming public opinion of those on the Delta College campus is that they believe our veterans are being neglected and that needs to change. My proof of that is a certainly sh own with all of the signatures we collected over various days. Chapter eight taught me about interest groups and their purpose. Interest groups are groups of citizens who share a common interest. That interest can range from political opinions, to religious or ideological beliefs, to a social goal, or even to an economic characteristic. Interest groups attempt to influence public policy in order to benefit themselves. My teammates and fellow classmates were basically and effectively interest groups ourselves. We all advocated in our papers, presentations for Change Your World Week, and letters to officials that there is a change or changes that needs to happen with our various issues. We worked as groups to get our topics heard by as many people as we could and to influence as many people as we could as well, which we were able to do because they agreed to sign our petition. Voter mobilization and what the purpose of it is, is taught in chapter 9. Voter mobilization is efforts made to encourage citizens to participate in elections and other types of voting. As a democracy, voting is the backbone of our government. In order for it to work for the, those citizens need to vote. By participating in getting trained and then volunteering to get people registered to vote, I helped encourage voting. Afterall, if youre not registered, you cant vote at all. Its not a longshot to guess that at least a few of the people I helped register to vote actually did go out and vote. If they hadnt been registered on campus, it is very possible they wouldnt have ended up getting registered at all. In chapter two, factions are described and defined. Factions are any group that puts its own interests above those of the rest of society. Factions unite people to achieve goals that advance their agenda and position. Factions often become politically aimed and are not limited to political parties. At the Clear the Haze deliberate dialogue, I was able to see factions at work. Each side, for or against the legalization of marijuana, wanted their agenda to be the one that prevailed. The side that was against, mostly ignored the positive outcomes, and of course, the side that was for mainly brushed off the possible negative results. Each side was only interested in what it wanted, regardless of the wants and needs of others.