Essay: Following Rules and Regulations of the Institution
A company that does not follow the rules and regulations of the institutions that are responsible for ensuring a level playing ground for every entity in the market is a failing market player. By ensuring that we adhere to all the set regulations, we give our customers a reason to have faith in us. The fact that there are some regulations that are difficult to be followed does not mean that we will fail the customers. All the set rules as per New York legislations are very important in the setting of our business. Having an opportunity to compete with global entities, serves as a motivation to work towards beating even though ours is a local business. (Pahl & Richter 2009 pp 21)
We are using the above strategies that we are targeting a growth of 2% in the market share in the next three years. Since the average of the profit we get from a single customer is $1000 per year, this will translate to an additional profit of $60,000 per year. In the next three years, our target is to be serving at least 13,000 customers in New York only and going by the rate, we will be serving almost the entire customers who buy their groceries online by the end of ten years.
Some customers may translate reduction of prices as a decrease in quality or the service they have been getting. In order to counter this, aggressive sales persons and at the same time use of media in advertising our products in order to assure the customers that what they get is of the same quality as the one they have been receiving. (Pahl & Richter 2009 pp 77) By assuring the customers of the company’s commitment to serve them better, this strategy is going to improve the company’s turnover. The bottom line of the company will always being identifying the needs of each customer and working towards satisfying them as an individual.