Increasing profitiability in a company using the 6 steps of decision Case Study

Increasing profitiability in a company apply the 6 steps of decision making - Case Study ExampleThere ar several(prenominal) strategies that can be imple mented in do to compete with the lower prices and varied selection that these competitors provide. These take on lowering our prices to match those of our competitors and if possible, even go lower than them. We can as well as consider the option of also stocking other clothes in addition to womens clothes, like our competitors. We can also use the fact that we argon smaller as compared to our competitors to our advantage by offering our customers personalized service, making sure that our staff are proficient in their departments, and offering unique and latest trends of womens clothing. Another way we can reverse more competitive is by providing incentives to customers, and also creating value for our products.We need to carefully analyze these alternatives in order to decide which ones are more practical in our case for imp lementation. Although adjusting our prices lower to match those of our competitors is the first challenge that comes to mind, it would be detrimental to do so. Larger repositings take on the advantage of buying products in bulk and then at a lesser price as compared to us. Because they have a wider selection of products, the cost of foot race their stores is also widely spread. They are thus able to sell their products at even lower prices. be smaller chain stores, we would incur big losses if we were to reduce our prices to match those of our competitors. There is therefore no way we can compete on price. Another solution would be to add variety to our store by stocking other clothes other than just womens clothing. Like our competitors, we could also include mens and childrens clothing and also other items such as shoes and accessories. Due to our smaller size, we would have to invest in expanding our stores in order to venture into other products. This is currently not poss ible and as such, this alternative is not practical. However, we