respond to a comment

Hello, Can you help me to respond top these two comments. I just need a short paragraph of what you like about their comment with meaningful responses. It doesnt need to be a whole page essay. Thanks a lot.

1. Advances over the years in information technology and communication have increased global competition for goods and services in many ways. A great example of these advances is Amazon. These two very popular companies have been able to expand their companies to the next level through an app that can do it all for customers.

For example, with Amazon, we have seen that many customers prefer shopping online for a good than going into a store and buying it. Amazon has been able to not only get what customers need at a low cost but customers also get the option of getting it delivered to their home same day, next day or a pickup option with many of their items. These options bring convenience to many customers which is the reason that has caused global competition for retail stores and many other online services. Customers who shop at Amazon do not prioritize brand parity. Brands do not matter when shopping at Amazon, what matters is who can get it delivered the fastest at the lowest cost.

Another strength for Amazon has been customer engagement. I have gone through this experience myself when I have called them to complain or report an issue they have been able to immediately help me out with my concern or issue. I called them 3 times during Christmas because my packages were getting stolen and Amazon quickly returned my money and asked if I would like to place the order again. This made me feel like they valued me as a customer because they listened to me and without any questioning, they quickly resolved my issue.

Channel power is very common nowadays with successful companies and a great example of that would be Netflix. I have a friend who works for Netflix and tells me how they have amazing people with great attitudes that go to work on a daily basis to have a great time and develop new ideas. He has described to me that the Netflix environment is very fun and you can never be in a bad mood because everyone is always very jolly. In this case, channel power is key because those with an amazing attitude are able to alter someone else’s attitude.

Overall, information technology and communication have increased global competition for goods and services and it will continue to do so in the next coming years.

2. Advances in information technology and communication have increased global competition for goods and services because it means to competing companies don’t have to be around where you company is located; competing companies can be located across the country or on the other side of the world. Companies that are able to deliver a product that is in high quality and still have a low price will be chosen by the consumers regardless of where the company is located because of delivery systems that make sure it reaches the customers doorsteps within a matter of days. For example, instead of going to the mall to shop for shoes I use sites such as GOAT or StockX because they actually have the shoes that I want in stock. GOAT headquarters is in Los Angeles while StockX headquarters is in Michigan. Global competition has impacted brand parity because there is an increase now. Consumers don’t look for a specific brand when they are shopping for a product, instead they look at a group of brands. Price, availability, or promotional deals are important factors for consumers whereas quality is not a big factor for them. Because of this brand loyalty has decreased and companies spend more resources trying to convince consumers that their product should be chosen over the competition. For example, credit cards offer different rewards to try and lure consumers. Companies want to increase customer engagement and engage with customers at every contact point through programs and social media. Companies have to create incentives and make customers want to come back and stay loyal to them. Some incentives can be using points to purchase a product (Sephora) and customers would have to build up those points and another incentive is offering a discount. Channel power has partly shifted from retailers to consumers because of the Internet. This is because people are able to share information, such as having a good or bad experience with a product, and that have an impact on future purchases. Companies have to engage with consumers and not solely rely on advertisements to reel them in.

Thanks a lot. I will give you extra tips.

 

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