netrashetty
Netra Shetty
AnaSpec Inc. is a biotechnology company headquartered in Fremont, California. Located in the Silicon Valley, it is a provider of custom and catalog research peptides[1], antibodies, dyes, assay kits, synthesis reagents, oligonucleotides, and PCR kits. AnaSpec focuses on multiple technologies: peptides, detection reagents (including dyes and antibodies), combinatorial chemistry, oligonucleotides, and PCR
Being such an important part of the retail business, considerable attention must be paid to the organization of the sections of the retailer that carry out the functions which are included within product management. A buying organization could be defined as the entity within a retail organization that carries out the essential task of bringing goods into the retail business from the supply base to be sold on to retail customers. Although it is the most directly concerned with the product offer, the buying organization is not the only department or section within a retail business that is involved in product management (Gillooley & Varley 2001). Logistics and visual merchandising, for example, have a deep involvement with products, but their role is one of support rather than control. The people who essentially 'control' the product offer are referred to, either in title or as a collective team, as retail buyers. Retail buying personnel operate on behalf of the commercial organization which employs them. Decisions are made for the benefit of the organization rather than the individual, therefore the ability to divorce personal taste or preference from the business role is an essential qualification (Gillooley & Varley 2001). A retail business sells goods and other consumer merchandise in a fixed marketing location. People who operates such kind of business, buys from their supplier or corporations large quantities of consumer products. The retail business has many ups and downs depending on diverse environmental and cultural instances. The retailing business in the US is a succeeding industry wherein it currently holds the second place for generating employment in the country. US retailers have their stores in malls or in retail parks. Local retail shops are known as brick and mortar stores. This report is written for the US market because, that market can be a challenge for the business to penetrate. The US market can help the company establish itself in the international market.
3. Situation analysis
Macro environment analysis
PESTLE analysis
Political
ABC food retailer of Hong Kong made sure that they were aware of the political situation of every country they have operated in and the company has made sure that it has a reasonable position with regards to political issues. ABC food retailer of Hong Kong is continuously prepared for any problems concerning the political sector.
Economic
ABC food retailer of Hong Kong can be said to be economically stable for the past years. Its economic stature is doing well that’s why they try to improve their products to give the best to their clients. It is not only the internal economic situation of the company should be taken note of but also the economy of the country, ABC food retailer of Hong Kong checks first the economic status of the country they are operating in before making decisions if they will have a branch in that area.
Social
ABC food retailer of Hong Kong makes sure that the products they offer will be accepted by the public. ABC food retailer of Hong Kong does not authorize the delivery of some products they know will cause outbursts or complains from different groups in the society. ABC food retailer of Hong Kong makes sure that they have a very good relationship with different sector in the society. ABC food retailer of Hong Kong also engages in social activities that tend to develop a better relationship between them, the clients and the society they are operating in.
Start by going to your local video arcade (a very similar target demographic group) and spend a full day there on a weekend and also during the week. Take notes on how many customers come in, and note their approximate ages and what times of the day they come to the arcade.
Next, draw up a questionnaire and ask a sampling of kids (around 50) if you can interview them. Ask them how often they would go to a skate park, what days of the week and what times of day, how much they would pay, and how many friends they would go with. Also ask how many kids would make a park too crowded for them.
Finally, figure out what your capacity is. With this information — customer estimates, frequency of visits and capacity — you should be able to estimate projected attendance for the park.
Online buyers rely on a healthy mix of search and social media throughout the purchasing process
Purchasing funnel. Buying cycle. Path to purchase. Over the years, the desire for marketers to label and map the exact nature of the online buying process has uncovered the complexities of the journey and the growing number of resources buyers rely on as they move to make informed purchasing decisions.
Research from GroupM Search and comScore highlights the increased use of yet another resource consumers are turning to in combination with their tried-and-true search engine usage: social media.
Marketers still skeptical of the overall influence of social media on online purchasing habits have reason to rethink that skepticism.
In fact, buyers who purchase or convert online are almost as likely to use a combination of search and social resources (48%) as they are to use just search (51%) along the path to purchase.
Furthermore, when consumers were exposed to both brand-specific search results and social media, search clickthrough rates increased by 94%, indicating the investment in social media can help marketers to better influence consumers during their purchasing process and boost search performance.
However, marketers looking to capitalize on social media’s role in vetting shortlists and identifying new brands will have to look beyond standard media channels and brand-controlled experiences on Facebook and Twitter.
Buyers researching brands on their product shortlist depend largely on their peers’ opinions—30% of consumers rely on user reviews to aid in their purchase decision, whereas only 17% and 9% turn to Facebook or Twitter, respectively.
In the 90 days leading up to purchase, less than 1% of all online purchasers engaged with brand-controlled social media from Facebook, Twitter and YouTube or ads on social sites, whereas 16% of consumers engaged with vertical- or industry-specific blogs offering expert opinions and product reviews.
Reliance on review-focused social media channels makes it difficult for marketers to control consumer exposure to unapproved brand messages and interactions as consumers vet each brand on their shortlist.
Additional findings from ForeSee Results further emphasize the role of product review websites as an important influence on buyers visiting retail websites. Compared to other influences, product review websites were most likely to affect the shopper’s likelihood of purchasing online, sharing this distinction with another highly influential factor: word-of-mouth recommendations.
Somewhat contradictory to the GroupM and comScore findings is the reported level of consumer satisfaction of interaction with branded messages and advertising on social networks, indicating an area ripe for further investigation to better understand the true influence of brand-created messaging on social networks.
In reality, the data further illustrates the complexity of the online path to purchase and further justifies the need for marketers to track their individual marketing programs, specifically their search marketing and social media efforts, to uncover the channels and resources that best optimize the consumer buying experience.
Being such an important part of the retail business, considerable attention must be paid to the organization of the sections of the retailer that carry out the functions which are included within product management. A buying organization could be defined as the entity within a retail organization that carries out the essential task of bringing goods into the retail business from the supply base to be sold on to retail customers. Although it is the most directly concerned with the product offer, the buying organization is not the only department or section within a retail business that is involved in product management (Gillooley & Varley 2001). Logistics and visual merchandising, for example, have a deep involvement with products, but their role is one of support rather than control. The people who essentially 'control' the product offer are referred to, either in title or as a collective team, as retail buyers. Retail buying personnel operate on behalf of the commercial organization which employs them. Decisions are made for the benefit of the organization rather than the individual, therefore the ability to divorce personal taste or preference from the business role is an essential qualification (Gillooley & Varley 2001). A retail business sells goods and other consumer merchandise in a fixed marketing location. People who operates such kind of business, buys from their supplier or corporations large quantities of consumer products. The retail business has many ups and downs depending on diverse environmental and cultural instances. The retailing business in the US is a succeeding industry wherein it currently holds the second place for generating employment in the country. US retailers have their stores in malls or in retail parks. Local retail shops are known as brick and mortar stores. This report is written for the US market because, that market can be a challenge for the business to penetrate. The US market can help the company establish itself in the international market.
3. Situation analysis
Macro environment analysis
PESTLE analysis
Political
ABC food retailer of Hong Kong made sure that they were aware of the political situation of every country they have operated in and the company has made sure that it has a reasonable position with regards to political issues. ABC food retailer of Hong Kong is continuously prepared for any problems concerning the political sector.
Economic
ABC food retailer of Hong Kong can be said to be economically stable for the past years. Its economic stature is doing well that’s why they try to improve their products to give the best to their clients. It is not only the internal economic situation of the company should be taken note of but also the economy of the country, ABC food retailer of Hong Kong checks first the economic status of the country they are operating in before making decisions if they will have a branch in that area.
Social
ABC food retailer of Hong Kong makes sure that the products they offer will be accepted by the public. ABC food retailer of Hong Kong does not authorize the delivery of some products they know will cause outbursts or complains from different groups in the society. ABC food retailer of Hong Kong makes sure that they have a very good relationship with different sector in the society. ABC food retailer of Hong Kong also engages in social activities that tend to develop a better relationship between them, the clients and the society they are operating in.
Start by going to your local video arcade (a very similar target demographic group) and spend a full day there on a weekend and also during the week. Take notes on how many customers come in, and note their approximate ages and what times of the day they come to the arcade.
Next, draw up a questionnaire and ask a sampling of kids (around 50) if you can interview them. Ask them how often they would go to a skate park, what days of the week and what times of day, how much they would pay, and how many friends they would go with. Also ask how many kids would make a park too crowded for them.
Finally, figure out what your capacity is. With this information — customer estimates, frequency of visits and capacity — you should be able to estimate projected attendance for the park.
Online buyers rely on a healthy mix of search and social media throughout the purchasing process
Purchasing funnel. Buying cycle. Path to purchase. Over the years, the desire for marketers to label and map the exact nature of the online buying process has uncovered the complexities of the journey and the growing number of resources buyers rely on as they move to make informed purchasing decisions.
Research from GroupM Search and comScore highlights the increased use of yet another resource consumers are turning to in combination with their tried-and-true search engine usage: social media.
Marketers still skeptical of the overall influence of social media on online purchasing habits have reason to rethink that skepticism.
In fact, buyers who purchase or convert online are almost as likely to use a combination of search and social resources (48%) as they are to use just search (51%) along the path to purchase.
Furthermore, when consumers were exposed to both brand-specific search results and social media, search clickthrough rates increased by 94%, indicating the investment in social media can help marketers to better influence consumers during their purchasing process and boost search performance.
However, marketers looking to capitalize on social media’s role in vetting shortlists and identifying new brands will have to look beyond standard media channels and brand-controlled experiences on Facebook and Twitter.
Buyers researching brands on their product shortlist depend largely on their peers’ opinions—30% of consumers rely on user reviews to aid in their purchase decision, whereas only 17% and 9% turn to Facebook or Twitter, respectively.
In the 90 days leading up to purchase, less than 1% of all online purchasers engaged with brand-controlled social media from Facebook, Twitter and YouTube or ads on social sites, whereas 16% of consumers engaged with vertical- or industry-specific blogs offering expert opinions and product reviews.
Reliance on review-focused social media channels makes it difficult for marketers to control consumer exposure to unapproved brand messages and interactions as consumers vet each brand on their shortlist.
Additional findings from ForeSee Results further emphasize the role of product review websites as an important influence on buyers visiting retail websites. Compared to other influences, product review websites were most likely to affect the shopper’s likelihood of purchasing online, sharing this distinction with another highly influential factor: word-of-mouth recommendations.
Somewhat contradictory to the GroupM and comScore findings is the reported level of consumer satisfaction of interaction with branded messages and advertising on social networks, indicating an area ripe for further investigation to better understand the true influence of brand-created messaging on social networks.
In reality, the data further illustrates the complexity of the online path to purchase and further justifies the need for marketers to track their individual marketing programs, specifically their search marketing and social media efforts, to uncover the channels and resources that best optimize the consumer buying experience.