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Hermes Courier Ltd Earls Bottom Up Approach
Hermes Courier Ltd Earls Top Down Approach
Hermes Courier Ltd SWOT analysis
Hermes Couriers Ltd Porter's 5 forces analysis
Hermes Couriers Ltd STEEP Analysis
Hermes McFarlan's Strategic Grid Analysis
Hermes STEEP Analysis Presentation
Introduction of Hermes Couriers Ltd
PADINI rivarly and competitive strategy
Porter 5 force revisited
PADINI rivarly and competitive strategy
Rivalry / competitive strategy
In the current market, PADINI face many competitors from local and also oversea brand such as Levis, ZARA or GUESS. In creating a new competitive strategy, PADINI needs to understand on the customer buying interest.
~ does the customer really satisfy with the product that they purchase?
~ Does the design, color or size really meet the user demand?
~ Do they really buy the product because they like it or they don’t have any choice but to choose the product that ready made ?
By understanding on the user buying interest, PADINI can use this information and create unique strategy that can attract customer on their product. Based from here, a strategy that can be suggested to PADINI is by
providing product customization
where customer can select type of material, design, color and even button that they prefer. By implementing this type of strategy, it provides full understanding on the customer needs and demand. This might help to open new buying trends that can attract more customers on PADINI product.
~ Pricing competition is not good ways to create competitive strategy to compete with other competitor. By lowing the price and give too much discount can affect the sales profit. Others than that, if the price is cheap, the value of the brands is going down. However, there are several strategy that can be use for example, conducting sales event it would help to create customer loyalty towards PADINI product. An example of sales event such as PADINI warehouse clearance, summer design sales or spring sales.
~ Other than that, PADINI can use a concept of offering sales for price per package replacing price per unit sales. As an example, selling whole product from top to bottom including accessory per package rather than selling one unit of product. Maybe PADINI can cut down the price for the package sales to attract the customer. The idea is that instead of buying one product per time, PADINI can sell more products at one time.
~ Creating on-demand product price offers
~ Online store
PADINI is improving their sales from brick-and-mortar to click-and-mortar where it will provide services on online sales. By having this improvement, it create more better services towards the customer because by having online sales, the customer can purchase at anywhere and at anytime 24/7.
~ PADINI can provide an online catalog and loyalty program.
Other services that be offers by PADINI is by having online catalog to view new product arrival. Other than that, they can alert their customer by sending mail advertising on new product sales or new incoming product. This helps to promote more on their product and help to increase sales.
~ Product Return duration
Sometimes, the customers are not really satisfied on what they purchase maybe because the color, size or design. Most of the shop in Malaysia does not offer on product replacement . therefore, by understanding this requirement Padini can offers a product replacement but followed by the rules to avoid the customer to take advantages. What they can do is that they can offers product replacement within 7 days after the product is being purchase and there is still price tag on to it. By doing this, it helps in providing good services to the customer.
~ Distribution channel is very important in attracting customer as well as creating value towards the brand. Based from this, PADINI can use hypermarket such as KLCC, Sunway Pyramid, Mid Valley or any other hypermarket in the big city such as Gurney Plaza in Penang as their distribution channel. This is because Hypermarket is the main target for customer when they want to purchase the product. However, the other distribution channel that can be use is by joining the carnival sales such as JOM HEBOH (Tv3 carnival). This help to promote the product as well as attracting more customers to purchase their product.
~PADINI can cooperate with charity event.
Exploiting relationship with supplier
~ investing more on supplier technology to assist in developing product customization services
~ by having good relationship with the supplier, PADINI can set weekly on demand of product. This help reducing waste of product.
~ PADINI is a concept store where it combines many brand of product to sale in one shop. Other product brands are Vincci , P&Co, PDI and MIKI. By cooperating between each others, PADINI can create unique product that combine design offers by each brands. This idea can be accomplish with having good relationship with the other brand suppliers.
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