Import restrictions or tariffs are helpful because if our government
thinks that a product that is produced say in China is harmful to us then they
might implement a tariff to discourage us from buying that product. A tariff is
a tax on imports and exports.
Import restrictions or tariffs can be harmful as it can reduce the revenue for
the government weakening its finances.
Key ways organizations compete:
Product and service design: The Company wants to be first in the market to have
a competitive advantage. Example could be that Apple I always wanting to
release their new phone before Samsung.
Cost: Companies seek to keep their cost low. Sometimes companies will outsource
to help reduce their costs.
Location: This can help keep costs low. If you are a Bread company and your
customers are nearby then you will save on transportation. And they could
receive their product faster. Many companies like to be near expressways so it’s
faster to their product moving vs if your company is 20 miles away from an
expressway you could potentially travel more mile than need be.
Quality: Meeting the consumer’s
expectations on the product or service.
Quick response: Being able to deliver on a timely manner such as amazon where
you will have your product within days. There was one time I ordered something
and had it the next day.
Flexibility: Being able to change a product for their customers or being able
to produce a product on short term notice for a customer.
Inventory management: Keeping a little amount of product in a warehouse as it’s
a cost issue if you have excess. You also take the risk of using a product that
is newer product so the old product just sits there and potentially can be
Supply Chain Management: This goes hand in hand with inventory management and
try not to have excess inventory but keep just enough to meet demand.
Service: Getting your oil changed, taxes, your nail, tow Truck Company,
mechanic shop, Geek squad and so many more different types of services are
Managers and workers: Managers are important because they help keep the morale
of the workers up and they delegate the work so it’s a productive day. Workers
are important because without them there would be no productivity. They are a
key part of the company’s success.
Oder qualifiers is what consumers expect from a product or service
to have before they consider to but the product. Like a refrigerator. When I go
to look for a refrigerator I know that I want my refrigerator to have a little
freezer pull out on the bottom. If it doesn’t I won’t purchase anything. Order
winners is when the product / service exceeds the consumer’s qualifiers. Like
Samsun meets my qualifiers but exceeds my expectations over an Apple phone.
This is because when I look for a phone I mainly look at storage and Samsung you
are able to add more storage here Apple you are not. And with Apple you must
purchase majority of your apps where Samsung has so many more free apps.
Walmart: low price and convenience
Target: higher quality and sales
Walmart compete with Target on their prices and conveniences as the ratios of Walmart’s
to targets is higher. Target carries products that have a better quality and
they provide weekly sales, Walmart just offers everyday low process. But none
the less they both compete over customers.