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Respond to each classmate statement with at least 100 words: Classmate 1) Good E

by | Jun 18, 2022 | Business | 0 comments

 

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Respond to each classmate statement with at least 100 words: Classmate 1) Good Evening Classmates and Mrs. Vann, For this week’s discussion post I was assigned RETAIL. A retail business model that is the best for success is a B2C or direct to consumer. Where one would pick a specific consumer base and direct all sales to them. Such as Best Buy, if you want an electronic they will have you covered. You need something for the office, home or professional business, you can go to OfficeMax/Depot to find your needs. We see other businesses do this such as Petsmart, Tractor Supply, Home Depot, and Lowes to name a few you put their business model out there for the entire world to see. The video showed us Walmart has a business model of having products that middle and lower class can afford. To have lower cost they ultimately have to buy the product for less than and use less customer service employees throughout the store to cut their cost. To set up a building in a small town where others wouldn’t helped them become one of the biggest retailers all over. Classmate 2) Good day classmates, For this week’s forum post, I was tasked with providing an example of how the “Consumer Apparel” industry uses either the product and/or marketing business model. Initially, I conducted a simple search of, “consumer apparel business model” in the APUS Library’s Google Scholar search engine. After reading a couple of articles, I found that generally, the apparel industry’s greatest challenge is the ever-changing style of society. For example, we will use H&M and Gap have similar business models, but have very different strategies to sell their product. Companies that specialize in general apparel, like Gap, seem to remain consistent regarding monetary profit, while a company like H&M take a different business strategy and releases specific styles of clothing at strategically calculated times. H&M has essentially employed people to monitor the changing style of society and time the release of specific clothing based on information collected from consumers and strategic timing. On the other hand, Gap continues to release apparel at a more rapid pace with little regards to the most recent fashion trends. H&M’s business strategy has proven to be more efficient that generates a significantly higher profit. One way to identify an apparel company’s needs is through a deductive approach to data reduction. Essentially a company would apply both positive and negative feedback to its business strategy. Although this sounds counterproductive, it works by simply identifying negative feedback as barriers. Rather than simply avoiding them, a company would use negative feedback to understand the issues better and generate potential solutions to create a better strategy. On the other hand is positive feedback. This should be obvious, but a company should continue to operate based on positive feedback, but also understand that fashion trends will change which may also affect the positive feedback in the future.

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