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Provide a 1 page analysis while answering the following question: The History of eBAGS. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required.
Provide a 1 page analysis while answering the following question: The History of eBAGS. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. The success of eBAGS as a consistently thriving and profitable dot-com company may be unprecedented but this is not a guarantee that the same outcome will be realized when they venture into the European market. The company must adopt a product-process strategy that focuses on the specific needs of the market and thus slowly develop a viable brand for that specific region. Jon Nordmark and his management team must analyze the consumer trends already existing and to play on their strong points while keeping in mind what the clientele is looking for.
A cross-functional team would be important prior to entering the market, during its entry and consistently thereafter. These stages of the new venture toward expansion would be vital in ensuring success. The logical first steps should involve a study of the purchasing attitudes of the consumers. Since the company is an internet-based retail company, it would only be sensible to research on whether or not internet shopping is a prevalent practice and to what extent, if not, then what measures would entice them to practice it. Furthermore, an analysis of the brands that has the strongest customer loyalty should be a main concern for the team. These brands, if not yet in the inventory of eBAGS’ numerous brand offerings, must be made suppliers ideally. This will make it easier for consumers to identify and trust the company.
The history of eBAGS has made it a force to be reckoned with. Its first year record was an “average monthly sales growth of 98% had broadened their product offering from six to fifty-six brands” (Schroeder, Goldstein & Rungtusanatham 2011, p.507). currently, it is in dire need of new ventures to safeguard continued growth and adopting a new business model has become imperative. Their entry to the European market would be a promising new move that could yield positive results and increased profit. The team should be made-up of dedicated and talented members to ensure that their set goals are achieved.
Bibliography
Schroeder, R., Goldstein, S., & Rungtusanatham, J. (2011). Operations management contemporary concepts and cases. 5th ed., New York: Mcgraw-Hill.
