Courts Guyana Analysis
This is a preview of how the company has evolved to suit the changing consumer behaviour regarding tastes for goods and increased knowledge in services due to advancing technology. The third section examines the company’s use of big data as an aid of understanding consumer behaviour and the last section discusses the company’s efforts to create and maintain customer loyalty. This is a discussion of how Courts Guyana’s operations have contributed to its success and suggestions of untouched grounds that could expand the company’s operations thereby raising its profit margins. Courts Guyana Limited Profile An enterprise can be is defined as a legal entity possessing the right to conduct business (Babin and Zikmund, 2015). Discussed in this essay is a dynamic brand under the Unicomer Group umbrella known as Courts.
This was a major breakthrough that unleashed the potential to initiate, increase and even invent new methods that would have tremendously increase market share and sales. (McKenzie-Mohr, 2011). Ever since then, technology and marketing have been twins and Courts (Guyana) took advantage of the toll that technology has on people to increase sales by redirecting their purchase behaviours and the marketing trends from analogue methods to the digitised ways (Goodrich and De Mooij, 2014) in order to achieve favourable sales. Often, an enterprise may be challenged while adjusting to dynamic and making impromptu changes in its environs, especially when its customers are involved (Oliver, R. L. Hence, the company has been launching integrative activities such as engaging in the youth welfare through promoting sports and academics.
This has given the brand a clear recognition since the winners receive desktops that were issued by marketing managers. A negative implication of digitisation is that consumers’ expectations have evolved adversely with evolving technology (Oliver, R. L. A few years ago, companies dictated the time to shop and customers had to bear with that. This has an implication that the consumers prefer subtle, understated products which puts the logo-heavy enterprises in a corner as they strive to assimilate their goods to match modern brands (Leeflang et al, 2014). This has been a challenge for Courts since it has to maintain a creative and outgoing team who researches the market dynamics and devices rebranding mechanisms to suit market demands (Turban et al, 2017). The Digital age is constantly changing and ensuring that the brand remains relevant is quite a challenge (Leeflang et al, 2014).
Therefore, the hiring technique has evolved to hiring a mixture of youths who are trending in technology, with the experienced goons in the company. This combination ensures a hybrid output that is easy to blend into the market. Though goods and services have always been selling side by side, they are different. A good may be easily defined by its characteristics in the eyes of the buyer and the quality approximated by the customer but offering a service, especially an intangible product is very challenging (Cook, 2017). This paper addresses some of the unique ways through which Courts Guyana can market its services to increase its revenues. Courts Guyana’s Investment in Intangible Products A product can be defined as a substance that is manufactured for sale while a service is an action of helping someone or some corporation with some work where value is achieved (Cook, 2017).
Particularly, in this scope intangible products include; education, accounting, consultancy and banking. Also, most of Courts products have a special service referred to as warranty that allows free repair or to return the product if it fails to operate within the warranty period Courts (2018). Goods and services are mostly complimentary, like when an electrical appliance is bought, one must have it transported to their premises and someone must be available to install it (Porter and Heppelmann, 2015). Employing the marketing mix keenly will always reveal the gaps in the organization where improvement might bring significant improvement in sales. They are efficient in analysis of the product branding, the best place to sell it, at a given price and helps in promotion of the product and they are applicable even in the service industry.
Generally, there is always an opportunity in specialization of services as there is in goods. Repair and maintenance is a very important aspect of sales for the company (Hill and Alexander, 2017). Personnel from the company who are entrusted in a certain appliance tend to be very efficient in the same and are preferred by consumers. Rapid feedbacks are expected in such departments thus demanding highly responsive, always available team to cater for the needs (Slack, 2015). Additionally, since the company’s major sector have been dealing with furniture sales, a team of interior designers would give furniture sales a great boost. Visiting someone’s place upon request, like a client who wants to change sets of furniture or is building a home or an office is a great service that would not only increase sales but also put the brand in everyone’s tongue (Lovelock and Patterson, 2015).
When Courts Guyana participates in community welfare, they collect some data like turn up which is stored in hard copies and soft copies. Uses As Big Data is collected, software that manipulates the data is integrated with the collection systems to give real time trends or the data may be retrieved for analysis (Hartmann et al, 2016). Courts Guyana has been able to predict consumer needs and deliver in the most appropriate time. Also, user behavior analytics are deduced and they can predict potential markets and underlying threats such as financial frauds and other dangers. Courts Guyana has been using information and product rating to know how to modify commodities to suit the market demands. Courts lack enough data analysts and the available ones are very costly to hire.
Big data simulation and analysis to obtain values from which useful conclusion can be made needs a data analytic and this manpower is rare and expensive. The field is still new and educational institutions have not produced enough manpower. Also, data needs special handling and sophisticated software to analyse it before any conclusion can be made (Fan et al, 2014). Ethical Legal Issues with Data Protection Any research where people are involved is governed by ethics. This tendency of the client to continuously buy products from the same brand regardless of persuasive competition is referred to as brand loyalty and those customers that do not buy from competitors are the loyal customers (Hill and Alexander, 2017). The reason why customers cling to a brand is a combination of factors that should always be guarded to maintain the loyalty (Stobart, 2016).
Courts has been known for quality and beauty of their products and this has been their greatest customer winning asset. But in the increasing competition and duplicated products, Courts Guyana has been venturing into the trending word of mouth marketing through increased participation in community welfare like donating computing equipment to schools, sponsoring children’s education among others (Hill and Alexander, 2017). Another driving force for their loyal customers is the layaway payment plan and free installation of equipment’s during the warranty period. The fourth force is threat of substitutes. This has been nothing to worry about for Courts Guyana since the brand has almost all possible substitutes but those of high quality. The presence of varieties of furniture and electrical appliances in the Courts stores outweighs any chance of another brand bringing in a substitute and the clients are satisfied with the products as preferences are different.
The company has diversified to all types of goods; bicycles, electrical equipment and household items. The fifth force is competitive rivalry which has been minimal for Guyana as there has not emerged a brand that is as popular as Courts. For instance, the company has been having response delay problems due to little manpower for repairing appliances like refrigerators and freezers. Courts Guyana’s expansive operations, availing varieties to the customers as well as shopping vouchers and participation in community interests such as education have been among the bases on maintaining customer loyalty (Rothaermel, 2015). In addition to that, the company has discounted items in different times of the year and customers stays quite thrilled about shopping with courts (Hill and Alexander, 2017).
According to Porters five forces, the company stands a good position to continue operations and enjoying consumer loyalty. However, installation and repair personnel are few compared to the tasks available every day. G. Exploring marketing research. Cengage Learning. Available from: https://books. google. google. co. ke/books?hl=en&lr=&id=V4wtDwAAQBAJ&oi=fnd&pg=PA94&dq=investing+in+customer+loyalty+for+Courts+guyana+furniture+stores&ots=ldOoiGzZiM&sig=RTPZF8CTbFHQW8QMgRGpUg76OGs&redir_esc=y#v=onepage&q&f=false[Accessed 10 May 2018] Chaffey, D. Global social media research summary 2016. Smart Insights Social Media Marketing. shopcourts. com/guyana/company-history [Accessed 28 March 2018]. Courts Post Sales webpage: Available from: http://www. guyanacityguide. com/place/courts-guyana-inc/ [Accessed 10 May 2018] Chaffey, D. Available from: https://www.
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