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Every company needs to have a strategy a plan to achieve companys longterm and short term objectives There are five main criterions thatcompanies are using to distinguish themselves from competitors costquality delivery flexibility and service Some consumers are buying products only by price When the price is lowthen they will buy a product if the price rises they will stop buyingthat product If a company has a lot of competition one of the best wayto have more customers and to be more profitable is to lover productprices For example Wal-Mart has the lowest prices than other companiesand even if a product costs more than a product that competitors havethey will match the price My uncle has a Pizzeria in the low incomearia if he will increase the price of pizza he would loose a lot ofcustomers they will look for another pizzeria that has cheaper pricesSince there are a lot of competitors my uncle cant raise the pricebecause loosing customers will mean to him loosing his business In todays world quality is one of the main reasons for customers tobuy or not to buy a specific product Companies have to first know whatcustomers require There were many times in my life that I wasntsatisfied with the quality of a product that I bought and the mostfrustrating thing is when you have to wait a specific period of time fora product to be fixed of replaced Speed and delivery is another important factor in purchasing decision ofcustomers I remember when I ordered Christmas presents online and theywere delivered four days after Christmas I was upset because theyassured me that my products would be delivered on time That was thefirst and the last time I ordered products from that website Productsshould be delivered to customers when promised A company is flexible when a company can offer its customers a varietyof products An example of a company that is flexible is Wal-MartWal-Mart provides all the products that
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