Bonanza Clothing seeks to improve growth through several strategies: increasing promotion and ads; researching reasons for any decline; creating a value chain between departments; investing in trend research; focusing on customer needs; providing quality products; applying the Ansoff Growth Matrix; conducting market segmentation; increasing market share; performing SWOT analysis; setting affordable prices; targeting the right markets; maintaining customers; increasing product variety and designs; offering limited discounts; continually evaluating strategies; pursuing opportunities; improving services, products, and profits; creating local partnerships; and informing customers of product availability.
Bonanza Clothing seeks to improve growth through several strategies: increasing promotion and ads; researching reasons for any decline; creating a value chain between departments; investing in trend research; focusing on customer needs; providing quality products; applying the Ansoff Growth Matrix; conducting market segmentation; increasing market share; performing SWOT analysis; setting affordable prices; targeting the right markets; maintaining customers; increasing product variety and designs; offering limited discounts; continually evaluating strategies; pursuing opportunities; improving services, products, and profits; creating local partnerships; and informing customers of product availability.
Bonanza Clothing seeks to improve growth through several strategies: increasing promotion and ads; researching reasons for any decline; creating a value chain between departments; investing in trend research; focusing on customer needs; providing quality products; applying the Ansoff Growth Matrix; conducting market segmentation; increasing market share; performing SWOT analysis; setting affordable prices; targeting the right markets; maintaining customers; increasing product variety and designs; offering limited discounts; continually evaluating strategies; pursuing opportunities; improving services, products, and profits; creating local partnerships; and informing customers of product availability.
M. Umer Hayat MISSION STATEMENT OF BONANZA Excellence, Innovation, Value, Style. WAYS TO IMPROVE GROWTH: Increase promotion or Ads Search for the reasons of decline & work on it. Create a value chain through which every department can inform marketing department Invest in research for new trends. WAYS TO IMPROVE GROWTH:
Look for customer needs.
Provide quality products. Apply Ansoff Growth Matrix instead of BCG Matrix. For creating customer value, Market segmentation in products is required for customers. Increase market share. WAYS TO IMPROVE GROWTH:
SWOT analysis will help us know the strengths, weaknesses,
opportunities and threats. SWOT will help in awareness of all the factors involved in making a business decision. Price should be affordable for customers. Target the right market for your product. Satisfying and maintaining the customer should be our main motto. WAYS TO IMPROVE GROWTH:
We should increase the variety of clothes in our collection.
New designs should be included. Increase limited discounts should be given. We should continually check our strategy’s results. We should be ready for the opportunities in the market & know how to take advantage from it. WAYS TO IMPROVE GROWTH:
We should work on our services & product quality.
We should ask the customers the their feedbacks for improving our services & products. Improve profits for firms. Create local partnerships. We should create a way to know about availabilities of our products. These steps will surely improve our growth in near future.