Business Recommendation for Larson
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- Date Submitted: 02/16/2011 10:20 AM
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Business Recommendation for Larson, INC.
ECON/561
February 9, 2011
Business Recommendation for Larson, INC.
Several economic futures could affect the continued success of Larson Incorporated. The three we will focus on are: market boom, market crash, and market competitor.
Market boom would be the most preferable and potentially profitable economic future. In such a future the types of products Larson sells would be in high demand and there would be an excellent opportunity to sell more units and generate more revenue, but Larson would be unwise just to sit back and hope for profits to roll in. Competitors in the market would have the same opportunities so it would be crucial for Larson to adjust advertising and pricing to be competitive.
Being competitive and differentiating their product would be especially important during a market crash. Batteries would be in low demand and there would not be room in the market for many competitors. Larson may need to consider restructuring their business model, such as advertising, pricing, and target market to maximize profitability in such a tough market.
Market competition is similar to a market crash in that positioning the company to be competitive is key. Larson would need to be innovative and look for new opportunities as well as using their established name in the United States and Germany to their advantage.
Market Boom
Within the next five years, Larson could incur a market boom that would positively affect their economic future. In the event of a market boom, consumer confidence will increase and banks should begin to lend more which will boost the economy. Wages should increase allowing consumers more purchasing power and more people will be able to spend more money on items that require batteries. Larson will be able to market to more customers establishing a larger loyal market base creating prosperity in...
ECON/561
February 9, 2011
Business Recommendation for Larson, INC.
Several economic futures could affect the continued success of Larson Incorporated. The three we will focus on are: market boom, market crash, and market competitor.
Market boom would be the most preferable and potentially profitable economic future. In such a future the types of products Larson sells would be in high demand and there would be an excellent opportunity to sell more units and generate more revenue, but Larson would be unwise just to sit back and hope for profits to roll in. Competitors in the market would have the same opportunities so it would be crucial for Larson to adjust advertising and pricing to be competitive.
Being competitive and differentiating their product would be especially important during a market crash. Batteries would be in low demand and there would not be room in the market for many competitors. Larson may need to consider restructuring their business model, such as advertising, pricing, and target market to maximize profitability in such a tough market.
Market competition is similar to a market crash in that positioning the company to be competitive is key. Larson would need to be innovative and look for new opportunities as well as using their established name in the United States and Germany to their advantage.
Market Boom
Within the next five years, Larson could incur a market boom that would positively affect their economic future. In the event of a market boom, consumer confidence will increase and banks should begin to lend more which will boost the economy. Wages should increase allowing consumers more purchasing power and more people will be able to spend more money on items that require batteries. Larson will be able to market to more customers establishing a larger loyal market base creating prosperity in...