Business Analysis
I. Introduction UMUC Haircuts has been in business for the last 15 years. The business has grown from a one chair barber shop, to three barber chairs, three hair styling stations, and a shampoo station. However, the owner is worried about numerous other business that have popped up in the immediate area. Below is an analysis of UMUC haircuts, it will utilize Porters Five Forces analysis, it will provide a justification for the choice of the Cost Leadership Strategy as a competitive advantage, and it will explain how UMUC Haircuts choice to improve employee and customer scheduling supports this strategy.
II. Five Force Analysis
FORCE EXPLANATION
(Minimum 2 good sentences) IMPACT (POSITIVE, NEGATIVE, or NEUTRAL) AFFECT STRATEGY? (YES/NO)
BUYER POWER Buyer power is the power a potential customer has in choosing different options. Given the amount of competitive businesses in the area, buyer power is high. This will directly impact UMUC Haircuts competitive advantage strategy, because it allows customers to choose the most cost effective option. Positive Yes
SUPPLIER POWER Supplier power is the power suppliers have in bargaining over the cost of their supplies. Currently, UMUC Haircuts has no way to check to see if it could order supplies at a cheaper price. Given that UMUC Haircuts cost of supplies continue to rise, this will have a negative impact on the strategy. Negative Yes
THREAT OF SUBSTITUTE PRODUCTS OR SERVICES Threat of substitute products
Competitive advantage - Nundies is an innovative product which provides an alternative to visible panty lines; no other company produces the same type of product
Orange Kingdom is a clothing retail store owned by Between, Inc. It is differentiated from its family brands such as Between and Old Marine, as it gives an upscale image compared to the other two brands, and targets young professional population aged mid twenties to mid thirties both men and women. It provides mid-scale work-to-play casual and business apparel, accessories, and shoes through about 500 stores including factory stores in the United States. It is also gaining market share in Asia, South America, and Europe as well. In this marketing proposal, I would like to discuss three service options to retain and acquire customers.
Bargaining Power of Suppliers: The bargaining power of suppliers in the industry is low. There are numerous suppliers in this industry, and the large department stores have the ability to negotiate for the lowest prices. In addition, the switching costs are low, as the products are not highly differentiated. There are a large volume of purchases in the industry, allowing the department stores to exert even more power over the suppliers.
Power of Suppliers - This is how much pressure suppliers can place on a business. If one supplier has a large enough impact to affect a company's margins and volumes, then it holds substantial power. Here are a few reasons that suppliers might have power:
Bargaining power of supplier: High levels of competition among suppliers act to reduce prices to producers. This is a positive for Ford Motor Company. Standardization of parts allowed Ford to reduce dependency on fixed supplier/vendor which goes into producer’s favor.
This document represents The i-Fusions Consultant’s Report on BRITA. The company’s current business situation is analysed and various options for action considered. The report aims to identify a clear marketing strategy for Brita in order to address the current issues facing the company the associated falling sales.
When it comes to women and their rights many people do not know what they had to endure and fight vigorously for. With that in mind it reflects how people think about women and their rights, which is not very highly. The twentieth century was a vital period for the progress of U.S. women and how they are treated today. The part of the twentieth century that will be covered today ranges from the 1900s to the 1950s. I will discuss the employment of women in the early 1900s and speak about the conditions, pay, treatment, and other major obstacles that women faced. Along with that, I will discuss career mothers of the 1950s and how people perceived them. In closing we will discuss how women have made progress but equality has still not been presented fully to the women of the twenty-first century.
Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.
A supplier group have even more power over an industry if it is dominated by a few companies, there are no substitute products, the industry is not an important consumer for the suppliers, their product is essential to the industry, the supplier differs costs, and forward integration potential of the supplier group exists. Labor supply can also influence the position of the suppliers. These factors are generally out of the control of the industry or company but strategy can alter the power of
Regardless of healthcare and medical advances, birth outcome disparities continue to exist in the United States. In 2014, 1 out of 10 infant births were premature, correlating to over 380,000 infants born prematurely (Health 2016). The current national average for infant births before 37 weeks is 9.6% (Services 2010). Premature birth is identified as a birth that occurs before the 37- week gestation. During the preterm period, infants are placed at a high risk of death and developing disabilities that may cause permanent handicap. Mothers that give birth preterm may partake in risky behaviors such as smoking and drug usage, lack proper nutrition, and are burdened financially. Maternal education intervention programs centered around the Health Belief Model may have a positive impact on maternal care and prevent premature birth.
Supplier Power: This highlights that it is easy for suppliers to rise up their prices. This is determined by the number of suppliers, the uniqueness of their product, their control over the buyer, and the cost of changing from one buyer to another. The scarcer the supplier choices you might have, and the more you need the help and that
ATT Group is a full-service digital creative agency that is located in Seattle. The company provides marketing services, web, branding for a company in many industries. To illustrates, the company provides solutions of marketing strategies including website, social media, or video production, so that customers can get the best solution for their marketing strategy based on their budget. In addition the company can help its customers by providing an assessment and an effective plan, so that they can decide what should they focus on their marketing efforts.
As I read the articles and after I made some research about marketing, I noticed that there are different roles. For example, one that caught my attention was marketing manager. The salary was not what caught my attention, because they do get paid very well. But what caught my attention was the name. When I read the the first article, I thought it would be simple. I thought it would have been simple, because in high school I was the soccer captain and manager for the varsity and junior varsity team, and there was not much to do. Once I research the job description for marketing manager, my whole idea of a simple job flew away. A marketing manager has to do a lot. Some examples of their job descriptions are “plan marketing and branding objectives”, “expand product solutions and offerings”, “prepare and adhere to budgets” and the list keeps adding up (http://www.americasjobexchange.com/marketing-manager-job-description). A marketing manager has an important role in keeping the company or organization stable or even improving.
This business environment analysis is being done for Ms. Myra Morningstar’s business, UMUC Haircuts. When Ms. Morningstar opened her barbershop back in 1995 she only had one chair and over the years she has added more services, to include; shampooing, styling, and, in the very near future, manicures (Scott, 2015). Due to these expansions, Ms. Morningstar requires a better solution for managing customers and employee scheduling. UMUC Haircuts was evaluated Using Porter’s Five Forces Analysis (PFFA) and the Cost Leadership Strategy (CLS), in order to find the effects on UMUC Haircuts.
Top managers develop long-range plans, called strategic plans that define the company's overall mission and goals. Strategic planning focuses more on issues that affect the company's future survival and growth. To develop strategic plan, top managers also need information from outside the company, such as economic forecasts, technology trends, competitive threats, governmental issues and shareholder concerns.