Third-degree price discrimination by Tribeca Coffee when entering new markets. Identify two common errors in pricing that Tribeca Coffee could be potentially exposed to when entering Ethiopia and recommend ways for the business to minimise the impact of such errors: Heavy reliance on cost Infrequent revision of prices. Setting the price independently of the marketing mix. Inadequate variation of prices. Tribeca Coffee has decided to invest in its own fleet of vehicles to move its product across the SADC region. Explain how the business can capitalise on opportunities and minimise the impact of challenges in transportation technology: Security challenges for transportation technology Transportation by road
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Third-degree
Identify two common errors in pricing that Tribeca Coffee could be potentially exposed to when entering Ethiopia and recommend ways for the business to minimise the impact of such errors:
Heavy reliance on cost
Infrequent revision of prices.
Setting the price independently of the marketing mix.
Inadequate variation of prices.
Tribeca Coffee has decided to invest in its own fleet of vehicles to move its product across the SADC region. Explain how the business can capitalise on opportunities and minimise the impact of challenges in transportation technology:
Security challenges for transportation technology
Transportation by road
As businesses expand into new markets, they encounter a multitude of opportunities and challenges, especially in regions with unique market dynamics and consumer preferences. Tribeca Coffee, a coffee retailer, is venturing into the Ethiopian market, which is not only known for its rich coffee heritage but is also subject to distinct economic, social, and logistical considerations. To achieve a successful market entry, Tribeca Coffee must carefully consider its pricing strategy, minimizing potential errors that can impact profitability and market positioning.
Simultaneously, the company is investing in its transportation infrastructure to ensure the seamless distribution of its coffee products across the Southern African Development Community (SADC) region. This undertaking involves the strategic utilization of transportation technology to optimize efficiency, reduce costs, and enhance security.
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