Reed market analyze – Case Study Example
The new items on display at DG seem to be compatible with the technological trends within the market of such goods. However, Reed has not yet considered this option and is still also doing business the old way despite many suggestions posed by management.
The other problem lies in the level of customer loyalty. The level of loyal customers keep going down and the supermarket has lacked the capacity and means to retain attracted customers since it does not have a well thought out procedure for ensuring that customers who come shopping actually keep coming whenever a shopping need arises. This could also be attributed to the fact that many retail chains have sprung up and are offering better services.
The growth of private label merchants seem to give Reed a big headache considering that it mainly depended on the branded items which now find little appreciation within the market. This is one of the tools that new entrants into the market are trying to implement successfully.
The consumers in this locality and whole of America have become health conscious and would not go for the traditionally sold goods which are thought to affect their health status. Reed has not implemented a food retail store that caters for the changing food needs of its customers while other chains are doing so.
The pricing model for Reed seems to get it in trouble since it happens to have higher prices as compared to Aldi and DG, which is actually reducing the sales of Reed. This issue has also been compounded by the fact that Reed is poorly located and access by many customers is limited as compared to other stores. The above issues and more to be identified have made it hard for Reed to keep its shares growing and instead they keep dwindling (Quelch and Carlson1-12).
The 14% market share held by Reed in Columbus is not enough. If it could adjust and find new ways of doing business,
Big Data, Big Data Analytics, Data Mining and their applications in Industrial Engineering – Essay Example
The usage of predictive analytics in big data situation can help power plants forecast production size and also gain insight on prevailing challenges within the plant. Energy companies that are capable of managing and analysing high volume data by using advanced softwares like IBM information systems or any other suitable statistical software, can always transform their data into useful and profitable strategies.
For instance, developing efficient demand response strategies requires that utilities apply innovative analytics across a mix of data about clients, consumption rate, generation capacity, physical grid unique behaviour, weather, and energy commodities market. A Companyâ€™s decision backed by data are always more forward and acceptable as compared to using prevailing perceived information about the energy market.
As mentioned before, power plants are welcoming the usage of smart grids and meters as a long term strategy that enables efficient energy supply. Energy companies can therefore create better power storage solutions, include uniform power generation points and in the process eliminate the need for new power plants. Essentially, this will enable power consumers to have more control over the amount of power/electricity they use.
A higher number of meter reads per day of power usage by consumers basically generate an overwhelming amount of data. This amount of data presents a great opportunity for power plants to study their consumersâ€™ behaviours and also understand how market segmentation of customers can help industries know the amount of power output to achieve. For example, if you are an electricity producer, time of use pricing usually makes cost-savvy retail consumers to run dryers, dishwashers and washing machines at off-peak periods.
Evidently, these segment of consumers do not only save cash but they also need less generation capacity from their electricity providers.
Welcome to your brand new blog at Edublogs!
To get started, simply visit your blog’s dashboard, edit or delete this post and check out all the other options available to you.
Like more help?
We can walk you through step-by-step in our guide to getting started with your blog.