Annual Report for Firm F Assignment Example | Topics and Well Written Essays - 750 words

Annual Report for mansion F - Assignment ExampleThere are a lot unmet vehicle inescapably in the market place and Firm F aims at filling this market gaps in accordance to its available resources. determine strategy The company did not have a specific harvest-tide strategy. However, customer ground determine and competition based pricing have been used for the past 5 years. Using the customer based pricing Firm F has had the flexibility of charging several(predicate) prices to its different customers which either fell or pink wine depending on the size of the customers wallet. The customer target for Firm F includes people of different sizes of wallet though they have a common need. Therefore, exceptionally high sticker price was tagged on each car subsequently which information active a prospective buyer was undisturbed to gauge how the buyer is price sensitive. If the prospective buyer as found to be price sensitive, a negation on the price was done otherwise, the car w as sold at the price given on the sticker. eminent price for cars leads to high demand and high sales for these target groups. The vehicle industry is highly militant and so Firm F had to use competition based pricing as its pricing strategy. In this strategy, the firm checked out on the competitors prices and then fall the price of its cars about the same level or lower with the main of attracting more than customers hence increased sales. The idea rear the use of this strategy is that when the price of the cars is set close to the price of the rivals, the firm does not risk losing its market share to its competitors. In future, the firm plans to use customer based pricing strategy as it is more profitable than the competition based strategy. Products strategy The firm did not have any specific product strategy. However, when the company started in the first period, it preferred to work on the up grading of its existing cars after which it launched another car named Falier in t he second period. The firm has also three new cars during the last 2 to three periods and in between the periods, the firm was busy trying to do minor and significant upgrades on its cars. Upgrading of the cars was a product strategy used by the company to improve the features of its cars in comparison with those of its competitors, and this chiefly to avoid losing its market share to its rivals. In the beginning, Firm F had some cars like Fantasy, Fish and turbulent which existed and later produced other cars like Flop, Farce, Fizzle and Falier. This product strategy was also aimed at meeting the trim needs of its potential customers. The firm plans to continue producing new products in future to enhance its performance. The organizations outlook and plan for the next 5 years Given its current customer segment, Firm F has a potential for growth. For example, it has a large customer base when it comes to enterprises. Enterprises have different needs when it comes to the variety of cars needs for its business operation. This is an opportunity for Firm F to design new products which will suit the ever-changing needs of its customers. Firm F has a capacity of increasing its production to meet the increasing needs of its products. When it comes to pricing, the competition based pricing may be a business threat. This is because other competitors may be using the same strategy hence reducing the price of their products below the new price set by the firm. At the end of the day, the firm may end up making losses. The fact that