Sample Exam Paper Questions Essay Example | Topics and Well Written Essays - 1500 words

Sample Exam Paper Questions - Essay Example Then UNIQLO concentrates on different market segments using the tools of sales planning, sales promotion, and visual merchandising (UNIQLO official website). The company makes families as their focal point of sales and it keeps wide variety of models so that the customers can choose what they require. UNIQLO operates on the basis of the Ansoff’s matrix theory which says market development and product diversification are the two best techniques to enter into a new market segment (QuickMBA). Since the designers are familiar with the geographical peculiarities of each area, they give more priority to cultural designs which are highlighted in the visual merchandising. The product demonstration has a very effective role in entrancing and dominating a market as it is the fact that ‘first impression is the best impression’. 2. UNIQLO is one of the prominent leading companies with highly extended worldwide network. This large scale network reduces the material costs as it engages in large scale production and purchases. At the same time the commitment to buy 100% of the raw materials of a particular dealer adds to the diminished material costs. The intension to conquer the raw materials at the minimized prices reduces the quality of the materials which eventually leads to less worth products. This puts pressure on the supply chain of UNIQLO. The decision of UNIQLO to dissect the supply chain in order to differentiate the areas of highest and lowest costs gave way for the mismatching of the coordination between the dissected supply chains. It was concluded that reduction in the number of fabrics, designs and cuts resulted in cost effective mass production. As Hoffman and Wimbish (2009) state, changing to mass production encourages the sacrifice of style and excitement which would have an effect on the supply chain (p.10). According to the ‘Product Life Cycle’ theory, the commencement of a product in the market attains utmost customers du ring the business enlargement (The Product Life Cycle PLC). To illustrate, subsequent to the market stabilization, the product becomes mature. Gradually superior competitors overtake the product which leads to the declination and eventually the pulling out of the product. As per the ‘Product Life Cycle’ theory every product goes by the introduction, growth, maturity and decline stages. The desire of mass production and low cost production should not be a barrier for the essence of the quality of products being produced. Effective managerial strategies are one of the key issues to minimize the pressures on the supply chain such as framing of an effective managerial team with innovative thoughts, online feedback collection of the customers etc. Store revolution and streamlining product offerings would add to the efficiency. In the view of ‘Product Life Cycle’ theory product and brand differentiation play vital role in the maturity stage of a product. Product promotion and media utilization becomes essential aspect when the product is in the decline stage. Hence the maturity strategy of PLC needs to be considered during the encouragement of product offer. 3. Online customer engagement refers to the interaction between customers and company through an online medium. It enables the company to market their products and identify the changing tastes and preferences of the customers through online feed back collection. It is the least expensive