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

Annual Report for Firm F - Assignment ExampleThere are a lot unmet fomite needs in the market and Firm F aims at filling this market gaps in accordance to its available resources. Pricing dodge The company did non have a specific product dodging. However, node based pricing and competition based pricing have been used for the past 5 years. utilize the customer based pricing Firm F has had the flexibility of charging different expenditures to its different customers which either fell or rose 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 spinal column hurt was tagged on each car after which information about a prospective buyer was collected 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 was sold at the price attached on the sticker. Hig h price for cars leads to high demand and high sales for these target groups. The vehicle industry is highly competitive and so Firm F had to use competition based pricing as its pricing dodging. In this strategy, the watertight checked out on the competitors prices and then tick the price of its cars about the same level or lower with the main of attracting more customers hence increased sales. The idea behind 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 world-class period, it preferred to work on the up grading of its existing cars after which it launched another car named Falier in the second period. The firm has also th ree young 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 mainly to avoid losing its market share to its rivals. In the beginning, Firm F had some cars the likes of Fantasy, Fish and Fast which existed and later produced other cars like Flop, Farce, Fizzle and Falier. This product strategy was also aimed at suitableing the tailored 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 busine ss operation. This is an prospect for Firm F to design new products which will suit the 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 qualification losses. The fact that