Business Essay Sample

BUSINESS ESSAY SAMPLE Introduction Retail business has been rampant for decades in the world. In most cases, retail business are categorized as small kind of business. However, even the big companies have several retails shops distributed in different parts of the world. This paper will focus on the Tiger Retail business. Tiger is a Danish variety store; its first store was opened in Copenhagen in the year 1995. Among the largest markets of Tiger, include Denmark, the UK, Spain, Italy, Sweden, and Norway. This business deals with food retail. Currently, this kind of business has been exposed to ethical scrutiny having their central position in the supply chain. The tiger shrimp has been able to differentiate its products by taking responsibility on what it offers to customers. This paper will evaluate the Tiger Company in Dublin, focusing on the store in Ireland as one of the most prosperous company in retailing business. Background of the Research Location of the Company Tiger Retail Company has many outlets and stores, the major one is the Tiger stores in Dublin City, it is found in 36-50 Nassau Street, few miles away from Grafton Street. The outlet in the Nassau Street has different items, starting from little gadgets and styling office supplies at an affordable price. Tiger deals with different items under one store, thus, providing variety to customers at the same time. The Ireland has a Tiger store where it is designed in a modernity with different items displayed in the entrance. The store is categorised as the top retailer shop in the Ireland. 1

BUSINESS ESSAY SAMPLE Benefits of the Location The location of the store outlet in the Nassau Street provide has the advantage on the position. It is well situated in the lane where people are frequently passing. The street is well distributed with electricity and accessible by both cars and individuals. The location provides an appropriate feature for the company to display its items in a systematic manner in order to attract the passers-by. The position of the outlet in the Ireland Nassau street favours the tiger company in Dublin and enabled the company to develop very fast because of the flow of customers. Critique of the Location The tiger outlet in the Nassau location face challenges because of several stores from other retail companies that are congested in the City. The street of Nassau is always busy and sometimes it becomes difficult for the public to get ample time to see what is displayed. However, tiger deal with small quantities of products; this helps the company to avoid making major loss in case of a recession. However, small items mean less profit, for example, utensils, homecare products, and electronics. For the company to curb the issue of little profit as retail business has implemented the concept of dealing different products that customers might need, and therefore, widening the profit circle. People from Dublin describe the company as cheap and cheerful; they enjoy its products in amazing manner. Layout of the Store The layout of the store is nice having bunches of items that are well designed shelves that accommodate different items at the same time. The store in Nassau Street is designed in a modern way. Most of the products in the front lane are the fast going products and those that customers will always buy at any time of the day such as food staff. On the entrance of this outlet, there are sans furniture, art supplies, candles, and hair, accessories. On the other side, there are snacks, utensils, trash bins, and stylish gifts. There electronics are directly opposite the entrance displayed in way that every customer going can see. Layout of the store in Dublin has affected how other stores compete in selling of the products. The company keep on changing the layout depending on the customers’ feedback. Some of the strategies that the company has been able to win a large variety of customers is through proving quality services; fun decoration, quality food, and their price are simple and clean, very affordable. The company continuously update the variety of its products (Edwards, 2010, p. 54).  2

BUSINESS ESSAY SAMPLE In marketing targeting, various ways that the company used to evaluate the potential and commercial attractiveness segments. These are criteria size, difference, money, accessibility, and focus on difference benefits. Finally, product positioning is the last element in the model used by the Tiger Company. The arrangement and branding of the products attract customers to buy the products. Tiger’s products are own branded, colourful, simple having a Scandinavian touch. The retail design manual of the tiger company ensure that customers access the items at their conveniences. Tiger Company has reduced the prices but sell more items within a short time, therefore, eventually making enough profit to sustain and develop the company (Singh, 2012, p. 61). Tiger used STP model when having new marketing communications strategies because it helps marketers to prioritise preferences and appropriate messages for engaging with different audiences. Tiger as a retail business implemented STP strategies in various ways. Firstly, market segmentation has the aspect like identification of the base for segmentation and determining the significance properties of each segment in marketing. In market targeting, there is evaluation of potential and commercial attractiveness of each segment. In the same context of market targeting, there is an issue of selecting one or more segments. Finally, in the product positioning there is the aspect of detailing product positioning for the selected segments and developing a market mix that is applicable in each of the segments. Currently, the company is concerned with digital marketing. Tiger Retail business has been able to apply appropriate strategies in order to segment the audience. In the context of layout and design, the company has improved its safety of the product in order to ensure its customers feel safe as they buy the products. Critique of the Layout of the Tiger outlet in Dublin The layout of the store keep on changing depending on the season. When the season for buying warm clothes is high, most of the warm clothes are displayed on the front lane to attract customers. The changing of layout design affects the sale in a different way. Sometimes customers get bored on searching for the same items every time they visit the store. Therefore, preferring other shops where the layout is fixed. The outlet in Ireland is interlinked with the evolution of town places. The mode CSR conceptualizes key categories of responsibilities that will enable to understand the Tiger Company clearly. The four types of responsibilities ate the economic responsibility to be profitable, the legal responsibility to follow all the regulations that a company is supposed to abide in the industry, the ethical responsibility for doing what is appropriate, fair, and just, and the philanthropic responsibility for contributing to social, educational, and recreational purposes. Through corporate social responsibility, it is easier to understand the role of the business in the society.  3

BUSINESS ESSAY SAMPLE Company Social responsibility (CSR) helps to understand the running of the company in a more vivid manner, enabling to understand how the Company relates and is responsible to the society. A retail business model articulates how a retailer creates value for its customers and appropriates value from the markets. Retail Company is of the businesses that one can operate with a lot of ease. It does not need a large team in the management.  Tiger implemented how to use targeting, segmentation, and position strategies for development in the market. The model is applicable in various businesses since it is one of the popular market model in the current century. Since the company started had been using the product differentiation strategy in order to increase the profit level of the company (Osborne, 2012, p. 77). There are various ways that the company can segment the audience. Demographic is one of the ways for segmenting in the retail business like Tiger Company. At this aspect, there is breakdown of customers in various groups depending on certain factors such as gender, income, education, ethnicity, material status, types of residence and type of household an individual have. Psychographics is another way of segmenting. It includes to personality and emotions that are based on behaviour of an individual. Purchasing choice depends on the attitudes, hobbies, lifestyle, and risk aversion of an individual. In lifestyle, it mostly apply to hobbies, entertainment and recreational pursuits (Edwards, 2010, p. 47). The company has been affected by different factors that determine the overall sale of the company. Small retail businesses are affected by belief and values such as nationalistic, political, religious, and culture. The store in Ireland provided other shops with small items to sell to the customers. The leading to the growth of the retail stores, also as a vice versa the retail shops (murray, 2012, p. 67). The Tiger retail shops have led to a growth of production in the county and thus the subject county has experienced growth its social-economic state where the production has grown and also the consumption behaviours’ evolved to sustain a good growth of the county’s economy. Products Tiger Company Sales Some of the variety items that have drawn customers to like the company are arts and crafts supplies, napkins, candles, batteries, and spices. The store deals with men’s and women’ clothing too. The company has variety store selling own-brand Scandinavian design home-ware goods from stationary to cosmetics. The food staff in the store are fast food and other business people in the street are the main customers. The business can classified as one the modern retail business with full of information regarding what the customers need at what time.  4

BUSINESS ESSAY SAMPLE Selling high quality products at an affordable price is a strategy that few can practice since the profit may be little but there must be a way to recover the profit. It is categorized as store with a difference and class by many people. Dealing with fast food is a challenge and at times might lead to a huge loss in case the product does not sell. Tiger maximized its selling through using internet to advertise its products. For decades, the issue of flooding in many parts of the world affected retailing industry. Much retail business in a region affected the market. The government control the licensing of some retail business in some areas in a region to avoid overcrowding. In addition, investors from outside are able to buy shares and be stake holders of the Tiger stores. On the other hand, in terms of production the Tiger stores have improved on their means of production because of the technological advancement in the world. The products have evolved and become antique.  Unique products, which in any market the consumer can readily get them because they are available and of good quality at a fair price. The aspect increase the production and when the production rate increases so does the economy of Dublin. The company has variety store selling own-brand Scandinavian design home-ware goods from stationary to cosmetics. Tiger Company has experts for advising the company on appropriate strategies to take under different circumstance such as Stephen Murray of JLL. Creating positive picture about the company helps to have more customers with time. Tiger has worked on its branding in major way, allowing customers to experience the real touch of the quality products and services from the company. The company has been able to secure enough resources from some financiers such as Cardiff Council Economic development Fund and a business loan from HBS for backing the retail outlets. Therefore, the company implement the aspect of relying on loans from financial institutions to help the company develop. The retail shop uses the aspect of display as a market strategy. Creating a good display that will attract customers is appositive aspect that enhance the growth and development of the company. For the Tiger Company to survive in the company, it had to create good entrepreneur-consumer relations. Tiger has developed its tributaries to other countries. In Dublin, the retail is among the best shops in town that provides what the customers need (Singh, 2012, p. 25). Retail business can increase at any time because of the flexibility of the business. Changing products from the other is easier and it can take a day to change the type of stock in the stores. There are no many requirements in opening new outlets for Tiger in the any region. How Technology has affected Tiger Retail Company in Dublin Technology can be termed as the main power source fueling the Tiger retail business  5

BUSINESS ESSAY SAMPLE in Dublin, the growth of technology and also technological change has really affected the growth of the retail stores in that advertisement has become global and thus putting the business on a global scale. In terms of technology, it is acknowledged that the growth of online advertisement has immensely grown. Technology does not only put the apparent stores on the global level but also allows consumers from all over the continent to view products from the stores and order them online. However, the payments are strictly in euros the transaction take place because of the global market. The growth to the retail business the subject business suffers a downfall closure and thus the growth of the Tiger retail business in a rapid motion clearly exhibits the growth of the Irish economy. In contrast to the earlier economy the economic growth, it has been clearly enormous and as the years went by (from 80s to 90s), the economic growth has been seen to grow marking an increment of over 10 percent.  Throughout since 1995 this has not only led to the growth of Tiger retail business but also the growth of all the retail business taking place in the Irish soil. The amount of population also tends to affect the retail business such that under a high population or low population tone there maybe changes in terms of the consumer’s behaviour to consume. Therefore, the Tiger retail stores have really summed up a strategy, which suits both the consumer and the business as the producer therefore achieving a win situation in the economy of the Ireland country. Conclusion As a capital of the country, Dublin expresses micro economic changes which latter affect the shopping patterns of the consumers (O’Callaghan, (1997), p. 102). Micro economic changes are brought about by social and economic changes this are disposable consumer income change and the apparent economic status of the county itself. In terms of disposable income change, the county has expressed growth for income in the county. The shopping patterns increase with no doubt and as a whole creating demand for the retail stores example the Tiger retail stores has an increasingly high population of consumers who vary in certain periods of the year although the expenditure of foodstuff has seemly gone low in Ireland the tiger retail stores are equitably growing all over the European continent. Moreover, in terms of the growth of the Tiger retail shops, the government has played a very big role in terms of formulating policies, which provide a healthy environment for the growth of the retail transactions. 6

BUSINESS ESSAY SAMPLE REFERENCES Edwards, J., 2010. Retail strategy and structure: A management approach. Business Horizons, pp. 58-62. Mc Goldrick, P. (1990). Retail Marketing. McGraw Hill, UK. Murray, j. a. (2012). Is organisation commitment culturally Bound? Irish Business Journal vol 7, 4-19. Osborne, 2012. Retail strategy and structure: A management approach. Business Horizons, pp. 52-81. Singh, R. a. S. D., 2012. Tiger, tiger, burning bright! Will India’s tiger economy stimulate its business marketing space?. Jnl of Bus & Indus Marketing, pp. 54-62. O’ Callaghan, E. (2008). An empirical study of corporate branding in retail SMEs. EIRASS, (p. 102). Zagreb. O’Callaghan, E. &. ( (1997)). ‘Dublin as an International Location: Perception and . CIRASS Conference, (p. 97). Arizona: Unpublished paper . 7