International Journal Economics Production -Myassignmenthelp.Com

Question: Discuss About The International Journal Economics Production? Answer: Introducation The company is considered as a leader of the Australian market industry. It offers a variety of products to the customers. The major strength of the company is that it gives main emphasis on responding to the trends in the market. The company takes into consideration the needs and wants of the consumers and also offers delicious food. The company has a large workforce who is dedicated towards the work. The best ingredients are used by the company. By carrying strength it is analyzed that the company has attained the large market share and is one of the recognized brand in the market (Payne, Frow and Eggert, 2017). Weaknesses The weakness that is faced by the company is related with the level of competition. The level of competition in the market is enhancing day by day. The company has a small market share outside Australia. Also it faces difficulty in collecting the feedback of customers. The competitors of the company like nestle has a large market share by taking into consideration various countries. Another weakness is related with the price of the product that is offered to the consumers. The products that are offered have a high price if comparison is made with the other brands that are available in the market (Scott, Ho, Dey and Talluri, 2015). Opportunities There are various opportunities that are available in the market for the company. Arnotts has a great opportunity to enhance the operations globally. The opportunities are available in china and India. The company can easily expand its operations and can attain the profitability in a proper way. The next element is concerned with innovation of the product. By innovation the company can enhance its sale in the market and can attract customers towards the product (Winata, Mia and Langmann, 2016). The company can also enhance the efficiency by taking into consideration effective systems and technologies. By considering the updated technology the company can easily attain the profitability of the organization. Arnott is a company that can enhance its market share by enhancing the segment concerned with cereal and breakfast. The company gives main focus on the cost saving technique so that enhancement can be seen in the saving pattern. The updated technology is very necessary to be taken into consideration by the company (Bernroider and Schmllerl, 2013). Threats The company faces threat that is related with the cost of the commodity. With the increase in the price of the agriculture commodity like wheat or food oils it gives direct impact on the price of the commodity that is offered by the company. When the price of the product increases the consumers think twice at the time of purchasing the item. So it directly gives impact on the profitability of the organization. It is also analyzed that just because of the net profit outcome the sale of the company product is decreased last year. Company also faces a strong competition in the market. As it is seen that the price of the product is high, so the company has to face a pricing pressure from the competitors (Razavian, Turetken and Vanderfeesten, 2016). The strong competition level that is faced by the company is from Kraft. As the main threat of the company is that the products can be replaced by less expensive products that are offered by the different companies. The price of the product pl ays a great role to change the mindset of the consumers. Recommendation For introducing or promoting the product in the market the company should target the middle and upper class customers and also give main emphasis on children under the age of 12. The new product that is shape should be introduced in the market by considering effective marketing strategies. The company should also give main focus on the pricing strategy so that the products can be availed by the consumers in a proper way. The positioning of the product should be done by taking into consideration the heath of the customers. The prices should be minimized so that every class of people can buy the product (Zentes, Morschett and Schramm-Klein, 2017). Conclusion So, it is concluded that the company should give main emphasis on pricing strategy so that the product can be availed by the consumers of every class. For introducing the product in the market it is very essential that effective marketing strategies should be taken into consideration. To compete with the competitors the marketing strategies like promotion should be considered by the company, so that the goals and objectives of the organization can be easily achieved. References Bernroider, E.W. and Schmllerl, P., 2013. A technological, organisational, and environmental analysis of decision making methodologies and satisfaction in the context of IT induced business transformations.European Journal of Operational Research,224(1), pp.141-153. Payne, A., Frow, P. and Eggert, A., 2017. The customer value proposition: evolution, development, and application in marketing.Journal of the Academy of Marketing Science, pp.1-23. Razavian, M., Turetken, O. and Vanderfeesten, I., 2016, September. When cognitive biases lead to business process management issues. InInternational Conference on Business Process Management(pp. 147-156). Springer, Cham. Scott, J., Ho, W., Dey, P.K. and Talluri, S., 2015. A decision support system for supplier selection and order allocation in stochastic, multi-stakeholder and multi-criteria environments.International Journal of Production Economics,166, pp.226-237. Winata, L., Mia, L. and Langmann, C., 2016. Strategic Alliance, Information and Communication Technology, and Customer-Related Performance: The Role of Industry Characteristics.Contemporary Management Research,12(3), p.337. Zentes, J., Morschett, D. and Schramm-Klein, H., 2017. Retail Branding and Positioning. InStrategic Retail Management(pp. 185-206). Springer Fachmedien Wiesbaden.