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The article recommends that Skagen’s strategy of expansion should be based on quality product rather than brand exposure. In the contemporary market arena, customers have shifted bases of their purchase decision-making from price or brand popularity to specific attributes of the product that meet their requirements. Charles Darwin’s theory on natural selection or the survival for the fittest can also define this theory. Retail organizations are economic entities that deal with an environment that is made up of competitors, customers and ever changing technology. This unpredictable environment can change the profitability of retail centres. The only way any retail form can adjust in any environment is by adjusting to the surrounding before it is squashed by competitors. In many situations, the decline or success of retail enterprises is associated with the business environment. Skagen has stores in several parts of the world, and in the US. For instance, the closure of many departmental stores in western markets is associated with the inability of the retailers to react positively and quickly to environmental changes.This theory is also similar to the wheel of retailing theory. Davies (2001) argues that cyclical theory assists in having a deeper understanding of the retail changes. The theory insinuates that retail innovators appear to be low price operators who have low profit margin requirements and low cost structures and who offer eye catching product prices that automatically take away customers from their established retailers. Their prosperity is characterized by acquisition of expensive facilities and the sale of a wide variety of goods. Lewis, in his article, argues that the funds of emerging markets have become fashionable redoubt for investors in the United Kingdom. Regardless of great improvement from 1.8% in 2006 to 13% in 2011, companies offering these funds are undervalued and under-researched. Skagen, therefore, is advised to pick from this rumour and do proper research of these companies and invest in them.Skagen recognises the presence of widespread competition from companies offering substitute products. Conflicts will always exist either between retailers selling the same product or retailers selling various products. Retail innovation results in the increase of more retail formats (Fill, 2009). Retailing, therefore, develops through dialectic processes whereby two

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preview essay on Will be uploaded later
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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