Paperhelp Org Reviews 2020

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Paperhelp Org Reviews 2020

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Paperhelp Org Reviews 2020

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Consumer Preferences

Consumer Preferences Consumer Preferences Home›Economics Posts›Consumer Preferences Economics PostsCompetitive advantage refers to the situation in which a firm is able sustain its profits that are more than the average profits for its industry. Due to the existence of so many different companies in the global markets, a company needs to do something that will put it one more step a head of others in order for it to register more profits. It has to make sure that it has something to offer to customers that other competitors don’t have in order to have a great command in the market. This is what is known as competitive advantage.A very good example of the changes in consumer preferences as a result of competitive advantage is the changes in quality of the automobiles in the market. In the early times and for a long time the Peugeots controlled the automobile industry. They were the most preferred vehicles by the people than any other type of vehicles. But they had some disadvantages which include t he fact that they were too expensive to purchase and they consumed a lot of fuel. Consumers never liked this.Later the Japanese came up with a model of vehicles called Toyotas. The Japanese Toyotas were cheap as compared to Peugeots and their fuel consumption was low as compared to the Peugeots. Many people rushed into the market to buy the Toyotas at the expense of the Peugeots which looked expensive to them. Thus they changed their preference in favor of the Toyota vehicle. In turn the Toyota Company made more profits than their competitors.Another example is the introduction of the mobile phones in the telecommunication industry. The emergence of mobile phones saw the introduction of early phones like the Alcatel, Samsungs and Nokias which fully and competitively controlled the market. These types of mobile phones had major characteristics such as presence of long antennae; they were expensive and heavy too. As a result of stiff competition in the market, the Nokia Company went b ack and restructured its models.It made models that were less heavy (portable) with smaller or no antennae, smaller in size and cheap to buy as compared to other products from other companies. The customers preferred more of these new Nokia models than those of other companies. Thus they bought more of them and in turn Nokia Company made extra profits and acquired larger share of the market than there competitors. Hence, the concept of ‘consumer preferences and competitive advantage’

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Top Advice on Essay Samples Word

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Four Contextual Factors Free Essays

1. Four Contextual Fators Apple have shown an ample example that they have implemented the four contextual factors in the organization which then lead to their organization successfulness. i. We will write a custom essay sample on Four Contextual Factors or any similar topic only for you Order Now Culture – Steve Jobs, the founder of the organization have a clear vision and yet simple that he wants the whole organization to know. â€Å"Bringing the best personal computing, mobile communication, and portable digital music and video experience to consumers, students, educators, businesses, and government agencies through its innovative hardware, software, peripherals, services, and Internet offerings. Steve Jobs. ii. Strategy – Apple Inc. also spends a fair time of training and or re-training its employees on a global scale and comes up with many new devices to not only keep the shareholders happy, but also by braining storming and coming up with new technology so in which Apple Inc. can hire new employees; thus helping the global economy. Apple Inc. understands, as new venture grows, there can be a need for more and more administration. (Hisrich, Peters, 2010, p. p. 127) iii. Culture – Team building and team sustaining with repositioning is and can be a gruesome task, however ‘Time heals all wounds unless you pick at them. ’ (Shawn Alexander www. bellaonl ine. com/articles/art11602. asp) Managers worldwide can look at Apple Inc and learn that with any type of conflict; where it is by internal or external nature; can be maintained and or healed if the organization has a team willing to work and learn together if the team is willing to collaborate systematically. v. Enviroment – People believe that the leaders in the organization, especially Steve Jobs are one of the reasons for the organizational success; Human resources are a very important. Apple has been known to be a good employer. Its employees are appreciated and valued. They are provided with a healthy work culture that comes from learning organization, some of them feel that Apple has a wrong human resource strategy as they maintain secrecy. How to cite Four Contextual Factors, Essay examples