V. Purchaser And Buyer Relationships Essay - 896 Words

V. Purchaser and Buyer Relationships in Just In Time Systems A just-in-time system can only exist in an atmosphere where suppliers are reliable and will work to minimize the risk of not having the needed input of production (Federal Reserve Bank of St. Louis, 1995). A just-in-time system puts increased stress on both the supplier and purchaser in the course of its implementation and places the purchaser at the mercy of its key suppliers, meaning the supplier must never be wrong in terms of quantity or quality (Karlsson Norr, 1994). Optimally a supplier themselves will be on or working towards a just-in-time system themselves, but this is not always possible (Fallon Browne, 1988). To allow the supplier to accomplish the massive feat mentioned above there are three required elements that must be present: clear communications, close proximity, and close relationships. For a successful just-in-time system to occur the communications between the supplier and purchaser should be clear and unambiguous (Epps, 1995). Traditional just-in-time philosophy also implies that a supplier should be located geographically close to the purchaser though some studies show this is not required if the parties can find other ways to compensate for the geographic distance (Manna, 2008; Karlsson Norr, 1994; Keller Kazazi, 1993). The relationship between purchaser and supplier in a just-in-time program must be one of respect and trust where the supplier is involved in the process and aShow MoreRelatedPlacido Engine Company Essay791 Words   |  4 Pagescorrosion process that may ultimately scrap parts. The cost incurred for the rework will be passed on to the supplier, along with ne gative quality ratings. A disadvantage for this possible solution would be acquiring short-term relationship with the suppliers or end of relationship due to high costs and high expectations. 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Human and Computers Interaction - 587 Words

Human Computer Interaction we are all familiar with, a trait characteristic of all humankind that emerged in the early 1980s that started embracing computer science and human factors that would interact with computer. There has been study of how the users of computers utilize them to complete tasks in the environment they will finally be used in. Human Computer Interaction is not just designed for one user and then another user comes along to use it. When been created an HCI system it would have to be considering how the users will interact with computer devices. Human Computer Interaction all aspects have been included in the tasks to be completed, in the technology that will be used by the user (e.g. input/output), how they will interact with the system. Therefore, human computer interaction has become increasingly popular and is important to our society. Over one hundred years ago before, the word computer started to appear in our dictionary people didn’t even know what a c omputer is. Now Human Computer Interaction has expanded rapidly and steadily over three decades. Until the late 1970s, the only humans who interacted with computers were information technology professionals and dedicated hobbyists. This changed disruptively with the emergence of personal computing in the later 1970s. Personal computing, including both personal software (productivity applications, such as text editors and spreadsheets, and interactive computer games) and personal computer platformsShow MoreRelatedHuman Computer Interaction1508 Words   |  7 Pagesa significant impact on human life process. What was on the top of the Maslows Hierarchy of Needs is now performing a vital role in each human life. 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Global Marketing Management By IKEA for Expansion in China

Question 1: Critically analyse the macro and micro environment of the market environment in CHINA using appropriate analytical tools Question 2: Develop appropriate marketing objectives and critically analyse supporting corporate and business strategies to support the expansion of the IKEA brand in the CHINA Question 3: Critically analyse the potential Business Model of IKEA and its adaptation for the expansion of the brand in CHINA. In addition, justify the most appropriate application of the marketing tactics that will support the expansion in CHINA Answer: Task 1:Critical analysis of macro and micro environment of market in China through appropriate analytical tools-900 The SWOT (Strength, Weakness, Opportunities and Threats) analysis of IKEA efficiently highlights the micro environment of the company. Details from this analysis are efficient enough to identify the potential factors affecting the business of the company. In order to analyse the macro environment the PESTLE (Political, Economic, Social, Technological, Legal and Environmental) analysis tool as opined by Li and Yang (2014, p. 4742), is an efficient one. It efficiently brings forth the eminent external factors affecting the business of IKEA in China. Porters Five Forces The potent industrial factors affecting the company are efficiently highlighted by conducting the Porters Five Forces Analysis. As stated by (Porter-Steele, 2010, p. 79), the five major forces of this tool identify and give the details of significant factors that influence on the business conduction of a company in the concerned market. The Porters Five Forces analysis of furniture industry of China points out relevant information as follows: The high Bargaining power of customers indicates the availability of adequate number of furniture organisations in Chinese market (Shi and Smith, 2012, p. 82). The low bargaining power of suppliers on the other hand, identifies the high price sensitivity among the customers of China. This factor accounts for the consideration of the prices of IKEA products to be high in the Chinese market while the same price is considered low elsewhere. The need for large amount of capital investment is a major barrier to entry in Chinese market for most organisations. IKEA however, being a well-established company is expected to overcome this barrier easily. At the same time, it restricts the other smaller companies from entering the market thus, reducing the competition intensity to an extent. However, as asserted by (Agnihotri, 2014, p. 207), there are large numbers of furniture businesses operating in the Chinese market at domestic level. Therefore, IKEA is about to face tough competition from t he domestic companies in Chinese furniture retail market. The analysis highlights a failure of the retail giant Home Depot in Chinese market. There also exists a specific market culture. Thus it lowers the threat of new entrants into the furniture retail market of China. However, the tool pinpoints on the high Threat of substitutes in Chinese market. Existence of fake IKEA stores and ease of copying the products of IKEA by other retailers is an eminent threat lingering over IKEA in conducting its business efficiently in the Chinese furniture retail market. The high Incumbent rivalry evident in Chinese market is a major factor and threat for IKEA. The presence of strong players as BQ and Taobao contributes to the increase in rivalry in the market of China. Jiang et al. (2013, p. 209) argued that there are several suppliers in China market who emerge as the direct competitors of IKEA. Task 2: Developing appropriate marketing objectives and critical analysis of business and corporate strategies supporting expansion of IKEA brand in China IKEA can apply techniques and procedures as Hofstede Index, Psychic Distance Model, Perceptual map on positioning, marketing mix and segmentation to analyse market in China. It will direct the company towards the development of appropriate marketing objectives (Luther, 2011, p. 62). Hofstede Index (Refer to Appendix 1) It indicates that there exist a remarkable distinction in culture of China and Sweden, the home country of IKEA with a highlight on the show-off mentality among people of China. The preferred style and need of furniture differs widely among the 2 countries with China consisting larger families than in Sweden. On-line shopping emerges as a viable scope of business in China where mostly people are busy in work. As stated by Bessant (2009, p. 41), the index drives IKEA towards innovative products through depiction of wide acceptance of innovative items in China with the property of accepting changes very fast. However, a deeper focus is required for advertisement and customer attraction in China than in Sweden due to the lesser fun-loving culture of China. Psychic Distance Model (Refer to Appendix 2) This model identifies the marked language distance between the country of Sweden and China. It drives IKEA towards adoption of Chinese main language Mandarin for its business and marketing operations in China. IKEA can also set the store locations near offices as per the Chinese culture. A major focus on maintaining low price products by IKEA is essential in China due to the unstable economic conditions. The rule of paying 25% corporate tax in China raises the business expense of IKEA in China. However, the company is provided with ample investing opportunities by the Chinese government (Jiang et al. 2013, p. 205). Perceptual map on positioning (Refer to Appendix 3) As per the Perceptual maps of IKEA products in terms of quality and price in different countries, the company can efficiently position itself against its rivals in the respective countries of China, US, France, Germany, Austria and UK. The products of IKEA depict standard quality level in all the mentioned countries. Hence, IKEA stands at a better position than its rivals in terms of quality. However, China being a developing country shows the consideration of prices of IKEA products to be high. It leads to the development of conception that IKEA products in China market can be considered of good quality but highly priced. Segmentation IKEA can segment its target market as per the following criteria of Demography, Geography, Psychograph and Socio-graphic: Corporate and business strategies of IKEA As far as the corporate and business strategies of IKEA are concerned, its corporate strategy of offering low price products with functional and well-designed characteristics poses a challenge to the organisation in face of competition in market. It strategy of global outsourcing is effective in enabling it in cost reduction facilitating international expansion. Its corporate strategy is also effective in attaining low-cost labour and less expensive raw materials by providing scope of long-term high-volume business relationship with the country as is found in Vietnam (Hgevold, 2011, p. 395). Its business strategy of open communication facilitated knowledge sharing, streamlining decision-making, mastering new technologies in furniture production and effective advertising methods enabled IKEA to develop unique competitive advantage over other rivals in the industry. Task 3:Critical analysis of potential business model of IKEA and its adaptation for brand expansion in China with most appropriate marketing tactics supporting the expansion According to Hwang et al. (2013, p. 1506), business canvas model is a tool to create and analyse business models. Most of the company can create this model easily. But the main thing that every company has to make sure is that they must analyze it and update the existing model with due course of time. As per the given case study organization IKEA has also a business model of its own. Customer Segments: The target customer of IKEA is basically the families. The age varies from 30 and 35 and about 70% of their customers are women. Customer Relationship: According to Hgevold (2011, p. 384), IKEA does all the necessary activities to maintain a healthy relationship with the customer. This is the reason why they have reduced the price of their products as per the demand of customers. Channels: IKEA mainly does its business through retail outlets. They provide very limited online service (Hellstrm and Nilsson, 2011, p. 640). Value Propositions: IKEA successfully provides quality service within a less price. But in China the pricing strategy of their products are generally high. Key Activities: In China market IKEA needs to expand more and they need to communicate with the customers through various social media sites. Key Resources: IKEA has been very successful on this as they recruited more than 120,000 people around the world for their 315 stores. According to Michael Sayeau (2009, p. 494), last year was one of the most successful year for the company as they have been able to generate a revenue of 28.5 Billions of Euros. Key Partners: IKEA being one of the top most furniture company brands has suppliers from almost different countries. 60% of their merchandise are sourced from Europe, Asia and North America (Hultman et al. 2012, p. 14). Cost Structure: IKEA sources the merchandise from cost effective sources so sourcing is not that costly for the organisation but reducing the price in China has been very costly for the company. Revenue Streams: As it is a furniture company so its main earning areas are from the hotel chains and restaurants. Their cheap rate and excellent product quality has made IKEA a popular household name in all over UK (Hellstrm and Nilsson, 2011, p. 640). Criticism of their business model: The main problem with their business model that sometimes their price leads them to loses. Although the pricing system is one of the major revenue generating components for the company, still they have to make some considerations while operating in countries like China where the pricing system is naturally high. Another point of concern in their model is that, they are not concentrating much on the online media. They have a very limited service in this media, hence they may face some problem in the near future because the trend of online shopping has exploded so much that people hardly goes to a shop now. Online shopping is less time consuming and very effective for those people who dont have time to visit shops personally. Figure 2: Business Model Canvas of IKEA (Source: As created by the learner) Conclusion: This study highlights the essential aspects of global marketing in the context of IKEA organisation in Chinese furniture retail market. Although the company faced challenges regarding price reduction, differential government laws, culture difference, etc IKEA identifies methods to improve its market position. Taobao and BQ the two main competitors of IKEA in Chinese furniture market can be well handled by the company through gaining adequate competitive advantage by adopting the measures as stated in the recommendations. Recommendations: In order to develop and attain an effective marketing operation and expansion in the Chinese market IKEA needs to focus on certain major factors. As per the issues highlighted in the study, the relevant recommendations are provided as follows: Development of online-marketing techniques IKEA with its sole focus on providing quality products at low prices, and market expansion overseas has neglected the adoption of technological features with time. The company lags behind in its online shopping provisions, which is highly advanced in most of the rival companies in Chinese market. The people in China with a busy schedule of work in their daily life show a high preference towards online-shopping. IKEA thus, needs to develop its online shopping infrastructure considerably to improve and enhance their efficiency of business in the Chinese market and attract more clients thus increasing sales and revenue. IKEA can also avail more customers and spread awareness of their products through improving their social networking activities which is quite popular in China. Opening more stores in China As highlighted in the business model section, IKEA has a smaller number of stores in Chinese market. In order to achieve an effective expansion, they need to set up more stores. Focusing on establishment of stores near the office area is a major recommendation for IKEA. As observed from the study, the Chinese people availing the stores mainly driven by need rather than luxury or fun. Therefore, setting the stores near the offices will attract more customers. Another recommendation for IKEA is to shift their focus from restaurants and hotels to offices. It is because in China, there are more offices and the focus is higher on office works than on hotels. Therefore, emphasising on offices, if IKEA designs their products as per the needs and expectations of office works, they can expect a better and more number of orders and purchase. Thus, the company needs to shift its focus as per the country needs. Reference List Books: Bessant, J. (2009). Innovation. London: DK Keegan, W. and Green, M. (2010). Global marketing. Harlow: Pearson Education Kotabe, M. and Helsen, K. (2010). Global marketing management. Hoboken, NJ: Wiley Luther, W. (2011). The marketing plan. New York: AMACOM Journals: Agnihotri, A. (2014). Mass-Media-based Corporate Reputation and Firms Market Valuation Evidence from Emerging Markets. Corporate Reputation Review, 17(3), pp.206-218 Dennis, C., Morgan, A., Wright, L. and Jayawardhena, C. (2010). The influences of social e-shopping in enhancing young women's online shopping behaviour. J. Cust. Behav., 9(2), pp.151-174 Hgevold, N. (2011). A corporate effort towards a sustainable business model. European Business Review, 23(4), pp.392-400 Hellstrm, D. and Nilsson, F. (2011). Logistics driven packaging innovation: a case study at IKEA. International Journal of Retail Distribution Management, 39(9), pp.638-657 Hultman, J., Johnsen, T., Johnsen, R. and Hertz, S. (2012). An interaction approach to global sourcing: A case study of IKEA. Journal of Purchasing and Supply Management, 18(1), pp.9-21 Hwang, J., Han, H. and Hwang, C. (2013). A Study on the application of Architectural Business Model Canvas of Urban Single Houses on the Viewpoints of Prosumers. The Journal of the Korea institute of electronic communication sciences, 8(10), pp.1505-1514 Jiang, N., Liping, W. and Sharma, K. (2013). Trends, Patters and Determinants of Foreign Direct Investment in China. Global Business Review, 14(2), pp.201-210 Johansson, U. and Thelander, . (2009). A standardised approach to the world? IKEA in China. International Journal of Quality and Service Sciences, 1(2), pp.199-219 Keller, H. and Thackeray, R. (2011). Social Marketing and the Creative Process: Staying True to Your Social Marketing Objectives. Health Promotion Practice, 12(5), pp.651-653 Li, L. and Yang, T. (2014). An Analysis of Furniture Manufacturing Industry Competitiveness Based on Design Innovation Investment. AMM, 687-691, pp.4741-4745 Lindqvist, U. (2009). The Cultural Archive of the IKEA Store. Space and Culture, 12(1), pp.43-62 Michael Sayeau, (2009). IKEA Modernism and the Perils of Innovation. Modernism/modernity, 16(3), pp.493-495 Mochon, D., Norton, M. and Ariely, D. (2012). Bolstering and restoring feelings of competence via the IKEA effect. International Journal of Research in Marketing, 29(4), pp.363-369 Porter-Steele, N. (2010). Book Review: Transactional Analysis: 100 Key Points and Techniques. Transactional Analysis Journal, 40(1), pp.79-80 Prasad, A. and Prasad, P. (2013). Innovation in the Global Age: Implications for Business and Management in the Knowledge Economy. IJBA, 4(6), pp. 102-106 Rask, M., Korsgaard, S. and Lauring, J. (2010). When international management meets diversity management: the case of IKEA. EJIM, 4(4), p.396. Scott, A. (2009). Notes from a recession. Business Strategy Review, 20(3), pp.4-10 Shi, W. and Smith, P. (2012). Exploring Market Opportunities for American Hardwoods through Chinese International Furniture Supply Trade Shows. Forest Products Journal, 62(2), pp.80-89 Websites: China, C. (2015). Case analysis Ikea in China. [online] Academia.edu. Available at: https://www.academia.edu/6652225/Case_analysis_Ikea_in_China [Accessed 8 Jan. 2015]. Dudovskiy, J. (2014). IKEA Porters Five Forces Analysis - Research Methodology. [online] Research-methodology.net. Available at: https://research-methodology.net/ikea-porters-five-forces-analysis/ [Accessed 8 Jan. 2015]. Ikea.com, (2015). Facts Figures - IKEA. [online] Available at: https://www.ikea.com/ms/en_GB/about_ikea/facts_and_figures/facts_figures.html [Accessed 8 Jan. 2015] APPENDICES Appendix 1 Hofstede Index (IKEA) Appendix 2 Psychic Distance Model Appendix 3 Perceptual Map of IKEA products in Terms of Quality and Price in China Perceptual Map of IKEA products in Terms of Quality and Price in France Perceptual Map of IKEA products in Terms of Quality and Price in USA Perceptual Map of IKEA products in Terms of Quality and Price in Austria

The History Of Lidls busines free essay sample

Lidl was first founded in Germany as a grocery wholesaler back in the 1930s by a member of the Schwarz family. Lidl’s full name is Lidl Stiftung Co.KG. The first Lidl stores were opened in 1973. By 1977 there were 33 Lidl stores in Germany. By the 1980s Lidl was a household name throughout Germany. During the 1990s Lidl started to open stores around the rest of Europe and today Lidl stores can be found in nearly every country in Europe. Lidl opened its first UK store in 1994 and grew rapidly during the first decade of the 21st century. Since then, Lidl has grown consistently, and today has over 650 stores. Lidl is now well known as a main European food retailer. Today, Lidl, as part of the Schwarz Group, is one of the largest grocery retailers in Europe? it has over 3100 stores in Germany and more stores around the rest of Europe. We will write a custom essay sample on The History Of Lidls busines or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is Aldi’s main competitor in Germany. Since 1994, when Lidl first came to the UK, there has been a fast rise in the number of stores and is now more than 400 stores, and there are still plenty more to come. Lidl is planning to take their stores outside of Europe and possibly build stores in locations such as Canada, Australia, and Mexico.A typical Lidl store has an average sales area of around 1,000 square meters (about 10,800 square feet), whereas Aldi stores have an average area of 600 to 800 square meters (about 6,500 to 8,600 square feet). However, both discounters have started to open larger stores. Some new Lidl stores have sales areas of up to 1,400 square meters (just more than 15,000 square feet), while new Aldi stores have up to 1,100 square meters (slightly more than 11,800 square feet).Lidl’s product range is wider, around 1,800 items, including private label products as well as branded products.Lidl is investing strongly in advertising in newspapers and on TV and billboards. In some countries, such as the Netherlands and Croatia, Lidl spent the same amount of money on advertising as the market leaders (Ahold in the Netherlands and Konzum in Croatia).LIDL has their own distribution centers and keep strong control over the production cost of their private label products. In order to quickly react to changes in the prices of raw materials, Lidl operates its own chocolate and bakery factory in Germany.Lidl saw strong revenue growth of 10 percent in Poland in 2014, whereas Aldi’s growth in Poland was much slower.