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Prepare a paper based on the company/industry you selected for your company/industry overview. The paper should address the following refined topical areas:
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Abstract
Introduction
a. Company/Industry overview
b. Current market condition analysis
c. Future Market conditions analysis
d. Final recommendations
1) Price
2) Production
3)Composition of inputs
e. In your paper, address the following questions:
1) Should the firm continue, expand, or reduce current operations? Explain you reasoning.
2) If your answer is to expand: should the firm invest in new plants, equipment, or
technologies? Should the firm consider a merger with another company? Explain your
reasoning.
3) If your answer is to reduce: Should the firm reduce production or shutdown their
operations? Explain your reasoning.
Conclusion
The portion I need help with***
final recommendations
1) Price
2) Production
3) Composition of inputs
The word count 1000 – the company Macy’s
Please include citation information and in text citation.
© BrainMass Inc. brainmass.com March 21, 2019, 6:44 pm ad1c9bdddf
https://brainmass.com/business/business-management/company-industry-overview-267097
Solution Preview
d. Final recommendations
Price:
Macy’s has to remain as competitive as possible in terms of pricing in the current scenario as well as the near future to ensure that consumers do not feel the pinch during these recessionary times and are able to capture maximum possible “value” from their purchases. In other words, as consumer spending is dipping due to recession and consumers are opting for moderately and low priced goods and avoiding purchase of big ticket and costly items, Macy should focus more on the moderately and low priced product and remain as competitive as possible in this segment in terms of pricing. Further, it should offer steep discounts in premium and big ticket items to attract buyers for purchasing such costly products.
Macy should continue to offer discounts and sales and stress on low priced products in its marketing and advertising campaign. Even though Macy’s average customer is more affluent that it’s competitor’s consumers such as JC Penny’s, the company will still need to attract customers to purchase non-essential, big ticket or costly products via steep discounts and sales.
At the same time, Macy should remember that instead of highlighting that the company is offering “cheap” products, the company should stress on the “value proposition” via its revised …
