SWOT Analysis of Amazon
Introduction Amazon is the world’s leading online retailer and its success has spurred other physical, brick, and mortar retailers to have an online presence. It is often referred to as the online equivalent of Wal-Mart because of its reach and global footprint as well as its aggressive pricing strategies. Amazon can leverage on several opportunities […]
Introduction to Financial Markets and Institutions
There are certain types of financial markets and financial institutions that are found in almost every country in the world. For instance, most countries where economic activities take place have an established stock exchange and a banking system. Each of these institutions is different and hence perform different functions. However, together, these financial markets and […]
International Retailing – Features and Challenges
International Retailing and branding has been one of the sectors that is seeing exponential growth. With increase in standard of living and disposable income, people in developing countries are getting exposed to international brands. Rise of internet and multi-media has further provided impetus to the dream of people to aspire for branded consumer goods. Along […]
BCG Matrix – Meaning and its Limitations
Boston Consulting Group (BCG) Matrix is a four celled matrix (a 2 * 2 matrix) developed by BCG, USA. It is the most renowned corporate portfolio analysis tool. It provides a graphic representation for an organization to examine different businesses in it’s portfolio on the basis of their related market share and industry growth rates. […]
Managing Retailing, Wholesaling and Market Logistics
Companies are looking forward to moving away from the conventional supply chain and moving towards value network. In a value network traditional supplier-wholesaler-retailer are considered as partners rather than as a customer. Companies designing marketing channel under the value network principle need to understand the players, role and their importance. Retailing The act through which […]
The world attention once again has turned to Durban where the countries are meeting to try and resolve the crises that our World is facing today in terms of Global warming and Energy crisis. Environmental protection as well as Prevention of cruelty to Animals too have been global agendas making news all the time. Though you get to read about these environmental issues as well as Global energy crises and climatic changes in paper or via the visual medium, you may not give it any attention for you believe that your job or profession has nothing to do with it. This is the perception amongst common people. However in reality these global issues are debated by the countries in such forums and agreements are reached where in the countries agree to take remedial measures to bring down global warming.
The implementation of the measures begins with passing laws, guidelines and policies that help the industries to reduce their carbon footprint and own up the targets. All the industries then need to adhere to the regulations and adapt environmental friendly technologies. Thus the global issues do affect all the industries and business organisations.
Environmental and global issues concerning nature and animals being highly sensitive subjects, do manage to get public attention for everyone is concerned about the future of the planet. Companies who have adapted policies to participate in the process of reduction of waste and pollutants as well as reducing carbon footprint have realised the benefit of talking about their green initiatives. They have begun to associate their support with social causes as well as environmental issues too and use it to build a relationship with the customers who are interested in such issues.
When you walk into a boutique hotel or a resort you will see detailed instructions on how you can help conserve water resources through following the guidelines and reducing the need for washing the towels on daily basis. You also get to see the ways in which the hotel is implementing various projects to save on precious resources. Some hotels use recycled and handmade paper and promote use of decorative materials made using natural fibres and fabric etc. Some hotels use natural dye for their walls and promote handmade crockery etc. Through such initiatives they are trying to give a message as well as create an interactive platform for building a relationship with the customers. Those who appreciate such initiatives are likely to become loyal customers and help refer the hotel to their friends and acquaintances too.
Very often we come across sales campaigns by leading consumer durables and consumer product companies who pledge to support a particular humanitarian cause or a project related to a social issue or a conservation project. The advertisements urge you to shop with them so that a part of the sales proceeds are donated to support the cause. Again through such interactive methods there is a relationship that is built with the Customer who identifies the Company with the cause that is close to his heart.
Take the case of Body shop. The Company uses natural products for manufacturing the products and do not use the animals for testing the products. The Company has defined this fact in its vision statement and has succeeded in striking an emotional chord with the consumers who care for animals.
As such there is a huge scope for the businesses to associate their social responsibility as well as the green initiatives that the Company adapts with their public image and use these as effective tools to reach out to the customers and manage the relationship with the customer effectively.
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