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Competitor Success Factors for the Mattress Industry - Essay Example

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The paper "Competitor Success Factors for the Mattress Industry " discusses that we are adopting the logistics concept to improve our internal operational problems. And we are using TV advertising to raise our brand name and increase our market share in the Hong Kong mattress industry…
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Competitor Success Factors for the Mattress Industry
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Executive Summary This report is concerned with the development of Sealy Asia Limited in Hong Kong. The main purpose is to improve the competitiveness of the mattress industry in Hong Kong. It is based on external factors, a survey of the Hong Kong mattress market and the internal company management operations of Sealy Asia Limited. This summary concentrates on the key findings. The reader should also consult the recommendations offered and the guidelines suggested for implementation of these recommendations. Sealy Corporation, through its subsidiaries, is the largest bedding manufacturer in North America and produces a diversified line of mattress and foundation products throughout the world. According to industry sales data, compiled by the International Sleep Products Association (ISPA), a bedding industry trade group, approximately 700 manufacturers of mattresses and box springs make up the domestic conventional bedding industry. They generate wholesale revenues estimated at approximately $4.7 billion during calendar year, 2002. The market for conventional bedding represents more than 85% of the entire bedding market in North America. Approximately two-thirds of conventional bedding is sold through furniture stores and specialty sleep shops. Most of the remaining conventional bedding is sold through department stores, mass merchandisers, and membership clubs. Sealy has the largest market share and greatest consumer awareness of any bedding brand in North America. It is believed to be the largest manufacturer of bedding in the world. Sealy employs more than 6000 individuals, has 34 plants, and sells its products in over 7,000 retail outlets in the United States, including furniture stores, leading department stores, sleep shops, and mass merchandisers. Sealy is also a leading supplier to the hospitality industry. Sealy Asia Limited is the regional office of Sealy Corporation, a bed sets manufacturer established in Hong Kong in 2001. It is one of the major mattress manufacturers in the world, and it would like to explore the Asian market in the forthcoming years. Sealy’s vision is to be first, best, most and continuously the most improved player in the Hong Kong market. In sum, we want to have our customers view Sealy as first in product quality and service, as best at meeting their needs, and as the resource that offers the most in every facet of our business relationship. We have a healthy dose of self-criticism, so we are driven by an honest and a critical self-assessment in our quest for improvement in all aspects of our business. In addition, the company mission of Sealy Asia, Limited is helping the customer to get a great nights sleep. This is because we truly understand that the beginning of a great day really starts the night before. Sealy Asia, Limited specializes in high-quality, luxury spring mattresses in different categories: crown jewel, palatial crest, posture premier, back saver, etc., that offer different benefits and functions to customers. The mattress size is divided into king’s size, queen’s size, and single beds. Sealy’s target market in Hong Kong is the middle to high-class consumer. The price range of products ranges from HK$4000-HK12000. Since Sealy does not have its own retail shops in Hong Kong, it currently relies on department stores such as Sogo, UNY, Jusco, and some other high-class furniture stores as the selling agents of Sealy Asia Limited. Crown Jewel Palatial Crest Operation Flow The following is the operation flow of Sealy Asia Limited, Hong Kong. A) Operation flow from pickup of the product from the warehouse to the end-user On Day One, Sealy receives the Arrival Notice from carrier. An office assistant is assigned to collect the bill of lading. An office assistant then exchanges the Inbound Release Order (IRO) at the shipping company and returns to the company. On Day Two, the truck department, upon receiving the IRO, makes a container pick-up appointment at the terminal, a plan for the pick-up schedule, and makes an appointment with the warehouse. On Day Three, a tractor picks up the container from the cargo terminal and delivers it to the warehouse for cargo devanning. Warehouse labor handles the cargo according to any special requirements (e.g. places the mattress vertically). B) Operation flowchart from pick-up of the product from the warehouse to the end-user. Selling agents send a delivery schedule (DS) to the warehouse. The DS contains the client name, address, contact number, and quantity of products to be delivered. On Day Four, upon receiving the DS, the office contacts the warehouse to arrange the delivery of cargo and make an appointment for delivery to customers. On Day Five, the distribution department prepares the cargo for delivery per DS. At the same time, distribution staff collect the Original Delivery Notice (ODN) at the office. The distribution center then delivers the cargo per order and gets the customer’s signature on the receipt and collects payment of the charges. The charges are sent back to the office, and cash payments remitted to the bank account on the next day (this is not included in cycle time). Total cycle time from container pick-up to end-user: 5 days. Project Objective The objective of this project is improving our competitive power in the Hong Kong mattress industry. According to a recent survey report taken from our customer, we found that the major problem of our operation is the long distribution cycle time. Therefore, this project objective must be improved and made more effective and efficient through the logistical refinements and improvements. Competitors Analysis An analysis of the mattress industry in HK finds that there are three main competitors that directly threaten our company. These competitors are “Sea Horse”, “Airland” and “A-Fontane”. We carefully assessing their company histories, their market strategies and characteristics, and analysis their success factors. The First Competitor is “Sea Horse” The “Sea Horse” brand was established in the mid-1980s in Hong Kong. Their major product lines focus on household products. The brand is aimed at the general public, it is well-known for its excellent quality, and it offers economic pricing. In 1987, the Sea Horse Healthy Mattress was launched. The users have applauded the products since then. According to a SRH report, Sea Horse mattresses and pillows have been the number one best sellers in Hong Kong since 1989. Sea Horse brand is a popular choice for consumers looking for top grade products with reasonable prices. “Sea Horse” is owned by Seven Sea Chemicals (Holdings) Limited. It was established in 1987. As a company based in Hong Kong, serving the Hong Kong community and other areas, its mission has always been to provide customers with the best - the best in distinctive furniture design, the best in lifestyle. Seven Sea Chemicals (Holdings) Limited introduced HECOM products to Hong Kong in the early-1990s. The majority of this North European styled furniture is imported from Denmark. It is trendy and full of the touch of great nature. In recent years, HECOM diversified the product line and provided our customers with a series of bedding of superb quality. These bedding series are manufactured from fabrics imported from Europe and USA. They are not just beautiful and elegant, but also very durable. It is definitely the wise choice for those who really want a touch of graceful lifestyle. The product line includes distinctive designs with strong, clear cuts and solid looks. The modular system enables anyone to make their own design choice and the Scandinavian influence is considered an outstanding attraction. The second competitor is “Airland” "AIRLAND" has been the leader of spring mattress manufacturing in Hong Kong. In addition to numerous best-seller achievements, "AIRLAND" was the first and the sole mattress manufacturer that received the “Q-Mark” Award from the Federation of Hong Kong Industries and the “Hong Kong Top 10 Brand Names” Award from the Chinese Manufacturers’ Association of Hong Kong. Since its production lines migrated to Shenzhen, China in 1980s, the development of “AIRLAND” has been growing more rapidly. Its product range has extended from spring mattresses to bedding products, as well as sofas and home furniture that’s provides customers wider choices of quality and comfort. Also, with its 50,000-square-metre production plant, and more than 80 experienced technicians and professional sales and marketing talents, “AIRLAND” has become a popular choice of millions of customers around the world. Currently, their sales network extends from Mainland China to Hong Kong, Southeast Asia, Australia, New Zealand, and Canada. After years of enormous effort, “AIRLAND” has accumulated numerous achievements and awards in different areas like quality, design, and marketing. “AIRLAND” was the first enterprise awarded ISO 9001 Quality Management System Certification and ISO 14001 Environment Management System Certification in the mattress and bedding industry in China. Also, “AIRLAND” was awarded the “National Top Three Sellers Certification” in China in 2001, and the “Brand of Guangdong” in September, 2002. In order to meet its significant growth in market share targets while simultaneously adjusting to ever-changing market needs, “AIRLAND” always keeps an eye on technological advancement and scientific testing to improve product design and its manufacturing process. In addition to its reputable mattress and bedding business, “AIRLAND” has also successfully participated in various investment projects involving real estate, power generation, and hotel management in order to develop a multi-disciplined enterprise. Among all of the successful projects, it is worthwhile to mention its innovative multi-property right hotel, AIRLAND HOTEL, which is located on the scenic coast of East Shenzhen, Daimeisha. Bordered by golden sands and gentle waves, AIRLAND HOTEL is the only four-star graded hotel in the area. It provides comprehensive services in tourism, leisure, entertainment, and dining – making it an ideal resort for vacation and rejuvenation. The Third Competitor is “A-Fontane” A-Fontane has invested heavily in sleep research, and with the help of modern technologically-created products, has improved its ability to enhance the quality of sleep. A-Fontane has thus become the market leader in the bedding industry. The forerunner of A-Fontane, Cheung Kee, was founded in 1974. The brand, A-Fontane, has been in the market for 20 years, after having been established in 1983. Products from A-Fontane are wholly processed in-house. This includes choosing fabrics and designs, printing and dyeing, manufacturing of finished products, and even logistics. In total, there are more than 1,500 employees and the manufacturing area occupies about one million square feet. A-Fontane products are available internationally, such as in China, Hong Kong, Taiwan, Japan, South-East Asia, USA, Canada, and Australia. The world’s first Pillow Selector, combining the latest findings in medicine, optics and ergonomics, was jointly developed by A-Fontane with the Hong Kong Productivity Council. The Pillow Selector measures the width of the shoulders and the curve of the neck and within 30 seconds it determines the right pillow size out of 48 shapes. The Pillow System, combining the Eco Pillow and Pillow Selector has been awarded the Gold Medal at the Hong Kong Invention Expo, 2000. In 2002, it also won the Gold Medal at the International Exhibition of Inventions in Geneva, Switzerland. The Eco Bed was launched in early 2003. It is made with a stunning new material, “Naturelast”, which replaces the traditional spring coils. The Eco Bed has an exceptionally long life span and by providing good support helps to eliminate pressure points. A 10-day money-back guarantee is offered for the Eco Bed. Towards the end of 2003, A-Fontane will also promote environmentally friendly bedding. Colors and designs have more natural tones, last and significantly they use soft pure cotton fabrics dyed with Azo -free dyestuff that meets the high Swiss Oekotex-Standard 100. Products made of these environmentally friendly fabrics are so surprisingly soft to the touch that they will certainly become everybody’s favorite bed linen. A-Fontane is specialized in a range of well-received bed linen and bedroom accessories. The brand awareness is ever-increasing, and the brand was thus rightly awarded the “Hong Kong Top Ten Brand Names Award”.   The production volume of the high quality, A-Fontane made comforters, mattresses and pillows is increasing substantially year by year, and so is their market share. A-Fontane has not only created a two-system mattress, where a couple with different body weights can have a mattress with two different firmnesses made to order, but the company has also invested over HK$200 000 in importing a machine from Germany called the “Ergo Check”. Using a pad on the mattress in combination with a computer, the machine shows how suitable a certain mattress is for an individual. This machine can be found in the A-Fontane Showroom, Ground Floor, in China Hong Kong City, where the customer can try the mattress free of charge and get his personal “Pressure Points Profile”. He can then choose the right mattress to be tailor-made. Now we try to summarize some successful factors about our competitors: Firstly, we found that they have over 20 years of history in the HK mattress industry; as a result, the Hong Kong people have a very deep impression of their brand name. Two of the above-mentioned competitors have received the “Hong Kong Top 10 Brand Names” Award from the Chinese Manufacturers’ Association of Hong Kong in past few years. This means, Hong Kong people is recognized their brand. “Sea Horse’s” marketing target is mainly focused on the general public, so their product prices are lower than the other two mattress manufacturers. Moreover, “Sea Horse” and “Hecom ” furniture are also under the Seven Sea Chemicals (Holdings) Limited. Consequently, they can get the “Chain Effect” advantage. This means that when the consumers buy the bed from “Hecom” furniture, they are mostly buying the “Sea Horse” mattress at the same time. “Airland” mainly aims at the middle-level consumer. Their product prices are higher than the other two mattress manufacturers. “AIRLAND” always keeps an eye on technological advancements and scientific testing to improve their product. This was rewarded as they were the first enterprise awarded ISO 9001 Quality Management System Certification and ISO 14001. Furthermore, their sales network has extended from Mainland China to Hong Kong, Southeast Asia, Australia, New Zealand, and Canada since mid-90s. “A-Fontane” mainly aims at the general public, so their product price is comparable to “Sea Horse”. Recently, the company has invested over HK$200 000 in importing a machine from Germany called the “Ergo Check” to provide tailor-made service to the customer. Their products are also available internationally, such as in China, Hong Kong, Taiwan, Japan, South-East Asia, USA, Canada, and Australia. Last but not least, we found that all three competitors have used plenty of money on TV commercial advertisements to raise their company images and brand names. SWOT Analysis Strengths Unsurpassed Quality Level Sealy has the highest quality standard in the mattress industry. In fact, consumers rate Sealy ahead of the competition in terms of product quality and durability. Also, we spend more than twice as much on Research and Development than our closest competitor and more than all other manufacturers combined. Sealy mattresses feature the most advanced bedding technology in the bedding industry. Significantly, Sealy has more patents on mattress and box spring technologies than any other manufacturer. Our products, Sealy Posturepedic mattresses, enhance the quality of sleep. They are designed in cooperation with orthopedic surgeons to provide correct support to the back bone. These high-tech products surpass the level of quality of our competitors. Sealy wants to provide the world with “good night’s sleep”. Good Reputation Sealy-branded products are the most recognized in the U.S.A. and North America. Sealy also believes it to be the largest manufacturer of mattresses in the world. The quality of our products is a source of pride. Sealy is also The Official Mattress supplier of the U.S. Olympic Team for the 2004 Olympic Summer Games in Athens, Greece. We believe that the good reputation in the world is one of our most valuable assets. Warranties Sealy offers limited warranties on all of its manufactured products, and is proud to claim the lowest consumer return rate in the bedding industry! Sealy warrants against manufacturing defects found during normal wear (i.e., broken or protruding coils or wires, extreme squeaks, rattles or noises, etc.). The length of the "no-charge" warranty periods vary from 1 to 10 years on all of Sealys products. As customer feedback has demonstrated, our warranty service is the main reason why customers select Sealy’s mattresses. Weaknesses Every organization has some weaknesses. Although Sealy mattresses are the most recognized in the US market, Sealy HK has a short two-year history. Therefore, our brand name is not common like the previously mentioned local competitors. It is directly affecting the number of sales. Furthermore, we still have some internal operational problems. According to a survey of our customer complaints, research carried out by our customer service department, we found that more than 50% of the complaints related to the punctuality of delivery service. (Fig A) (Fig A) After an investigation, we found the following reasons for the long cycle time. Shortage of trucks Sealy Asia Limited only has two trucks to deliver 20 orders on average each day, in which the peak delivery time is limited from 6pm to 10pm. Therefore, the delivery schedule is very tight, and punctuality is greatly affected. We sometimes need to negotiate with customers to delay the delivery to the following day. Insufficient manpower Since most of the deliveries are requested from 6pm onwards, it increases the labor overtime. Basic working hours are from 8am to 5pm. This is required in order to fulfill the delivery service. As a result, the customer service level decreases. Warehouse location The existing warehouse is located in Kwai Chung ATL Logistics Center, which incurs a rather high rental cost. According to our research, we found that almost 70% of customers are living on HK Island. This causes a long delivery lead-time and high transportation costs, including longer mileage and tunnel tolls. (Fig B) (Fig B) Limited Channels for order placing The selling agents can only place orders via fax, over the phone, or by hardcopy once there are purchases of Sealy’s mattresses. The mechanics for placing orders are inefficient and not error-free. They also tend to be too time-consuming. However, there is no technical support at this moment to develop electronic means, like the Internet or email transmissions, to facilitate a more efficient order-placing process. Opportunities After the SARS incident in April, 2003, most people came to understand that health is very important. Providing a good nights rest is very important because people spend one-third of their life in bed. Over the past few months, the number of mattress sales in the HK market has grown continuously. More, the growth rate for high-quality mattresses is increasing rapidly compared to last year. Threats Companies such as “Sea Horse”, “Airland” and “A-Fortune” have all made recent investments in improving their operation systems, e-commerce, and computer technologies. In addition, because of cost-reduction concerns, they have also adopted logistics concepts like “Just In Time” to control inventory management. Improvement Plan Objective: i) Improve the total cycle time from container pickup to product delivery from 5 days to 4 days. ii) Build up the company image and customer loyalty. The following are the methods for implementing these suggestions: increasing the number of vehicles, outsourcing, carrying on-shift duty, changing the warehouse location, providing alternatives for order-placing and TV advertising. Most of these suggestions have advantages and drawbacks. Increasing the number of vehicles We can purchase new vehicles to increase the fleet size The advantage of increasing the number of vehicles: It can increase delivery efficiency and punctuality. It can also meet the requirements of customers at nighttime. Moreover, it can also increase the flexibility for delivery service so that different trucks can concentrate on different areas. This will result in better routing and scheduling for delivery service. Finally, it can save transportation time and cost. The drawback of increasing the number of vehicles: It requires investing additional capital on vehicles. It will also increase the repair and maintenance costs. At the same time, it will employ more labor. Finally, it requires more parking spaces and added parking charges Outsourcing Outsource the distribution operation to vendors for delivering the goods at peak time in order to fulfill the customer’s requirement. The advantage of outsourcing the distribution operation: Firstly, it can reduce manpower. Also, it will lower fixed costs, and repair and maintenance cost. It will also provide flexibility for operation management and planning The drawback of outsourcing the distribution operation: Because it is not handled by us directly, it may be difficult to control and coordinate fleet management. Carrying on-shift duty The advantage of carry on-shift duty: Firstly, it can improve flexibility of material handling and packaging at nighttime. Secondly, it will decrease labor overtime costs. Lastly, it will benefit from an economy of scale. The drawback of carry on-shift duty: It will increase warehouse-running costs (e.g. electricity, etc.). Some staff may express dissatisfaction about on-shift duty arrangements. Lastly, there may be insufficient labor in certain periods of time ( e.g. daytime). Changing the warehouse location. Moving from Kwai Chung ATL warehouse to Wong Chuk Hang warehouse The advantage of changing the warehouse location: Firstly, it will reduce the warehouse rental cost by 20%. At the same time, it will save transportation time and cost for delivery services since the major customers are middle-high class and mostly living on Hong Kong Island. The advantage of changing the warehouse location: A huge amount of warehouse removal cost is needed. Alternative for order placing Develop technology services like a homepage or electronic means like email for order placing to replace traditional hard copy for purchase orders. The advantage of alternative for order placing: Firstly, it will shorten the order processing time. Secondly, it can reduce transmission failures ( e.g. paper jams). Thirdly, it can provide the information to various departments at the same time. It can also improve the company’s image and reputation. Furthermore, This warehouse can execute the order promptly in order to send the goods to customers earlier. In this way, it will provide the real time informative service to our customer ( e.g. the size and price lists). Finally, when we get the customer information, we can set up the membership to provide discounts to them. It can increase customer loyalty. The drawback of alternative for order placing: It requires a high development cost, and it must have a sophisticated monitoring system for security purposes. Advertising TV Advertising and Sponsorship can improve the company’s image. The advantage of advertising: Firstly, it will directly affect the number of sales. And then, it will raise the company’s image and brand name recognition and trust. Lastly, it can promote our new products to a wider range of consumer. The drawback of alternative for order placing: It requires a high advertising cost Implementation To sustain Sealy Asia Limited as the local mattress industry’s leader, the following improvement plan has to be implemented. In the Short-term The first step is to concentrate on the short-term improvement plan. It is of a smaller scale and needs less time to achieve, but the results cannot ignored. To improve the quality of services, outsourcing the distribution operation can quickly improve the delivery service in peak time. Furthermore, carrying on shift duty is fully used the manpower resources. Importantly, the advantage of using these two methods are is low cost ease of implementation. In the Long-term There are many ways that Sealy Asia Ltd can improve its status and widen the gap between itself and its competitors. Apart from outsourcing distribution operations and carrying on-shift duty, changing the warehouse location is a long-term solution. It can reduce warehouse rental cost about 20%. This suggestion is optimal in the long-term, because it needs a large amount of removal cost. It can also reduce the transportation time and cost of delivery service. So, it is a good choice in long term. In the meantime the productivity and service can be increased. Another strategic solution for Sealy Asia Limited to implement is to rely on their brand name in Hong Kong. Sealy, over the years, has weakened its customer loyalty in Hong Kong. Therefore, Sealy Asia Limited should invest money in TV advertising to keep pace with its three local competitors. It can build up customer confidence and loyalty. Moreover, the purchase of new trucks can increase the flexibility and efficiency of delivery. And in view of fleet management, it can make for better scheduling and planning. Last but not least, Sealy Asia Limited’s competitors are gaining in the market share for this industry. Companies such as “Sea Horse”, “Airland”, and “A-Fountane” have started to make technological improvements to their services. Business logistics, from an information technology development point of view, is simply essential. It can reduce the processing time and manpower. In the meantime, it also provides product information to our customer. It can increase the purchase opportunities for curious persons. Although the above suggestions are mostly suitable to our company, we should not implement all the suggestions at the same time. It may expose us to a high risk. In addition, investing a huge of money will affect our company’s capital liquidity. Therefore, I recommend that we implement these suggestions on step-by-step basis. In the short term, we can try to improve the quality of services, outsourcing the distribution operation can quickly improve the delivery service in the peak time. Furthermore, carrying on shift duty is fully used the manpower resources. These two suggestions only require low cost and are easy to implement, but they can help to reduce the customer complaints. As we know, customer service is very important. Management Review According to above analysis, I decide the suggestions be implemented in three periods. With higher productivity, more of the improvement plan can be implemented gradually to different aspects, such as outsourcing the distribution and carrying on-shift duty. These improvements can improve productivity and save money, so it is the first step to perform. After this half year, we will evaluate the above changes and implement another step. The second step is TV advertising and creating an alternative for order placing. With a more prominent brand name, customers will build greater confidence and loyalty to Sealy Asia Limited, which will further attract more customers. Developing information technology can provide shorten the distance between ourselves and customers . Also it can reduce the costs of production. We will evaluate the above changes and the perform the third step. It is the changing of the warehouse location and increasing the number of vehicles. We decided changing the warehouse is so complex and time consuming. We must have enough time to select our warehouse, even if our target is Hong Kong Island. This is because of outsourcing our distribution operation, therefore increasing the number of vehicles may not perform in this two year. Conclusion This report has attempted to analysis the competitor success factors for the mattress industry and reviews our strengths and weaknesses. We are adopting the logistics concept to improve our internal operational problems. And we are using TV advertising to raise our brand name and increase our market share in the Hong Kong mattress industry. Sealy Asia Limited is now in one of the best positions to add the logistics concept in this industry. We believed that Sealy will expand and continue to develop in the Hong Kong mattress industry. Our vision is that we will become Hong Kong’s No. 1 mattress manufacturer in forthcoming years ~ The End ~ Read More
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