Five forces of assessing balance of power in Tech Mahindhra Company
Tech Mahindhra Company shall ensure that it has the potential of increasing number of suppliers to provide raw materials for company. An increasing number of suppliers shall enable Tech Mahindhra Company to control potential of external suppliers to raise prices of raw materials. Also, the company shall enjoy the availability of substitute goods and services. Tech Mahindhra Company as a supplier of produced goods and services shall ensure consistent production of new brands in markets to provide a variety of tastes and reference. We shall ensure we have wide geographical coverage to reach new customers on various platforms including World Wide Web. Tech Mahindhra Company shall supply high-quality product & services to customers to ensure high maintenance of trust. We shall maintain good relationships with customers through the provision of after-sale services, guarantees, and compensating for spoilt products supplied to customers. Tech Mahindhra Company as suppliers shall combine processes and capabilities through computerized systems to ensure our supply operations and transactions are automated according to technology (Zohrabi, 2013).
Tech Mahindhra Company shall ensure that it has provided buyers with various tastes of products that provide a chance for them to choose the type of products they prefer. Buyer shall have the potential to choose from different prices o-f a given product of same quality but different quantity. We shall increase the size of buyers size by through advertising via different media such as radios, the internet, newspapers, billboard, and televisions with aiming a particular target clients. We shall ensure a constant trend in changing prices based on policies, demands, and frequency of periods determined by patterns analyzed in markets (Pringle, & Huisman, 2011). Our customers shall be handled depending on the importance of product and services to facilitate easier understanding and serving of customers in best ways that satisfy their wants. We shall ensure a number of products and volumes required are supplied to customers through following Just InTime (JIT) principles of scheduling.
Tech Mahindhra Company shall ensure that it can easily enter into marketing easily by eliminating barriers and blocks towards joining markets. Research of available markets, as well as influencing power, shall facilitate organization has access markets at ease. Easy access to marketing places shall involve eliminating geographical factors that affect marketplaces. Tech Mahindhra Company shall implement new strategies that can hinder another new entrant from joining the market. The strategies applied shall include market leadership in quoting of prices; ensuring company has the power to control pricing of goods and services (Porter, 2008). Tech Mahindhra Company shall ensure it has dominated all possible routes that lead to marketplaces by establishing agents and middlemen to provide company products.
Product and Technology Development
Tech Mahindhra Company shall ensure it has facilitated proper measures that deal with the threat of substitute products and services. Among strategies to ensure that company has dominated the markets substitute products shall include the provision of alternatives prices of goods and services. Customers requiring goods in bulk shall enjoy economies of scale while those buying in smaller quantities shall have different prices. We shall implement market distribution changes strategies to encourage customers to try our quantities. The strategy shall involve market advertising forums within specific locations on particular target group (Porter, 2008). We shall produce new fashions based on current technology and time. New products shall encourage customers to try new fashions as substitutes to old products. The organization shall ensure it has maintained good standards by renewing their updates according to legislative effects. We shall comply with authorities as a measure to eliminate instructions from controlling markets.
Tech Mahindhra Company shall ensure that it has applied all possible methods of set theory to cut down costs of production, and other expenses. We shall implement recycling strategies and technologies to ensure organization enjoys cost advantage. Through the analyzed trends, organization shall put up alternative methods of acquiring raw materials as well as other inputs within the production process. Tech Mahindhra Company shall establish plans that ensure easy access to raw materials. We shall always perform production processes where company maximizes profits to ensure and where a company incurs lowest costs of production. Bulk production strategies shall ensure company enjoys the economy of scale (Porter, 2008). Tech Mahindhra Company shall ensure that our products are differentiated from competitor’s products through branding, blending, and allocating unique trademarks.
Significance of Tech Mahindhra Forces of Company Accessing Balance
The strategies outlined shall facilitate the company to have better utilization of linear programming strategies that facilitate organization to operate at a minimal loss. Through the strategy, Tech Mahindhra Company shall retain its reputation in the market as well as dominate market regarding quality products, technology, and customers (Smith, 2006). Five forces shall ensure organization operates at minimal expenses thus having the capability of controlling prices in the market.
Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86, 1, 78-93.
Pringle, J., & Huisman, J. (2011). Understanding Universities in Ontario, Canada: An Industry Analysis Using Porter’s Five Forces Framework. Canadian Journal of Higher Education, 41, 3, 36-58.
Smith, A. (2006). Aspects of Strategic Forces Affecting Online Banking. Services Marketing Quarterly, 28, 2, 79-97
Zohrabi, A. (2013). Formulating and ranking qualitative strategies and studying the five competitive forces of porter in industrial organizations. Advances in Environmental Biology, 7, 8, 1731-1744.