1)In today’s competitive marketplace where there is an increasing level of competition and decreasing product life cycles, product innovation has been identified as the key to a firm’s success (Slater, Mohr, & Sengupta, In Press).2) By seeking new or better solutions to customer problems, new product development can both transform existing markets and create new ones. 3)Without innovation, incumbents will slowly lose their markets as rivals may innovate past them (Hauser, Tellis, and Griffin, 2006). Miron-Spektor, Erez, and Naveh (2011) 4)further suggest that many firms today face immense pressures to pursue innovation to respond to the constant changes in customer requirements, and in particular to develop radical innovations that will draw the market spotlight, thus capturing more market share.…
Business: Fe’nix del Sur, LLC is a limited liability company that sources and sells South American…
Marketing plays a major part in sustaining and having happy customers. Bringing in new products that appeal to the nature of such a wide audience allows the company to stay in tune with their target audience and it has allow them to rebuild in a way that is even greater than before (Fulgoni,…
Potential Outcomes: Fe’nix del Sur can strive to secure sourcing for authentic artifacts and work on exclusive and guaranteed distribution channels to protect existing margins and levels of growth. In addition, Fe’nix del Sur can explore the replica markets to expand market share. Failure to protect current markets and proactively develop new markets will result in continued erosion of sales and margins.…
Marketing has evolved through a change in production and consumption due to the advent of new technology (Ranchhod, 2004). The development of technology has also driven the globalisation of communication. During this period, consumers are facing a variety of choices (Jackson and Shaw, 2009). Thus, companies need to actively embrace these changing factors to grow their business and succeed in the marketplace.…
DESCRIPTION Organizations all over the world are faced with increasing pressure to perform in an environment that is characterized by new challenges like: -Decreasing profits. -More players/competitors in the field. -New products every day with increasing competition to existing products. -Increasing customer knowledge, sophistication and customization requirements. While an organization is facing these and many more challenges, it needs to stay competitive and moving continuously looking for new products and revenue streams, carefully monitoring its competition as well as…
Technological and economic forces will have a positive impact on the company’s marketing strategy. Research shows that new technology is available to improve…
It is imperative that Team A Corp. develop a competitive product that can truly compete in this market both with sales price and corporate revenue. The development of The…
According to the product-market matrix above, and after reading about the industry, it is apparent that Fe’nix del Sur competes in selling authentic artifacts to collectors. After some of their clients insisted on an expanded product line, Fe’nix del Sur started producing replicas of their authentic artifacts. The replicas, in return, have broadened the company’s market to include gift buyers and individuals looking for decorative items.…
Technology now is leading us to a Long Tail market pattern. We can do the information search much easier now, and because of this, even the popularity is low, there are still some people is willing to make the product to match the taste of small number of customers.…
1) Alternative courses of action- the main alternative action they already have begun is the production of their own replicas within the company. Fe’nix del Sur prides themselves on having 100 percent authenticated artifacts from all over the world but with competitors replicating their product and selling at a lower price they have had to alter their marketing mix, even their production to try to retain their market share. The in house production of these replicas is helping them by having both options within their store. This provides the consumer with a hands on experience of seeing what an authentic piece looks like and also a replica. Also giving them the option to have an…
Customers like our current brands and we should keep adding new brands as our customers ask for them. To attract customers to our products and services we will maintain a great customer relationship by being there for our…
Note: Teaching Case 2 Edward Marshall Boehm, Inc. Case Objectives 1. To provide an introduction to the conceptual framework of strategic management. 2. To introduce students to the process of problem identification and potential solution analysis that will be used in case discussions throughout the semester. See the table below to determine where to use this case: Chapter Use 1: Strategy Concept 2: External Environment 3: Internal Analysis 4: Intellectual Assets 5: Business Level Strategy 6: Corporate-Level Strategy 8: Entrepreneurial Strategies 9: Strategic Control 10: Organizational Design 11: Strategic Leadership 12: Managing Innovation Key Concepts Leadership for strategic management; sustainable competitive advantage; vision, mission, strategic objectives Industry competition five forces; general environmental factors Value-chain analysis; resource-based view of the firm; VRIN Intellectual and human capital Competitive strategy; generic strategies Diversification; synergy Opportunity recognition Informational vs. behavioral control Organizational structure; functional structure Leadership; learning organization Innovation; scope of innovation Case Synopsis Edward Marshall Boehm, Inc. is a small, high-quality porcelain art objects company that has been very successful, particularly at producing images of vanishing species of birds. These pieces are complex sculptures selling from $100 to over $20,000, and are sought by some sophisticated collectors. The company is run by Mr. and Mrs. Boehm: he is the artist and master of the complex hard paste porcelain manufacturing process; she is in charge of the marketing and financial aspects of the business. At the end of the case, demand for the artistic creations is growing, and many of the companys past policies no longer seemed appropriate. The Boehms wanted to position the company for the long run. Their stated goals for the company were to make the world aware of Mr. Boehms artistic talent, to help world wildlife…
For me, La Presa or Sitio Pungayan, the real name of the place is not that destroyed or ruined. The news just made an overreaction about the tourists that are still flocking to Sitio La Presa and worsens the image of the place and called it #LaParusa just to catch people’s attention. Maybe, in some part, This Sitio was a little bit in chaos when the shooting was still ongoing for the teleserye Forevermore but now that the show was done, the place was not crowded at all and things are getting back to its normal place. In fact, it helped the locals to start a small business. And, at least we discover a new paradise hidden in Benguet Province.…
As the 21st century is fast growing marketing becoming more and more attractive for the companies at state national and international levels. With the development of new market new technology of selling wide variety of consumer products has been designed and developed.…