Despite the efforts of some business analysts, many companies continue to have heterogeneous demand for their services. On the other hand, the constant maintenance of capacities and personnel that are sufficient to handle peak demand would require companies to incur prohibitively high costs. For the more even and manageable intensity of service delivery, enterprise management can influence demand through some methods and strategies.
The business market knows examples when top companies have successfully introduced appropriate plans in order to meet customer demand and adapt to current trends. The abilities to respond to any changes in consumer demand timely and to offer acceptable alternatives are the features that characterize an enterprise’s strategy as a successful approach to resource management and a competently oriented policy of attracting customers.
Plans to Deal with Changing Customers’ Characteristics
Providing the client with an opportunity to choose the level of service is one of the ways to influence the fluctuations in demand. For instance, urgent orders require an additional payment, which can be beneficial for the company from a financial point of view. High-value goods take precedence over inexpensive orders, which allows for a higher level of flexibility in terms of the timing of product sales. Another way proposed by Prajogo (2016) is an innovative approach to the production of goods. According to the author, “product innovations would naturally drive process innovations” since consumers, as a rule, acquire those things that are trendy and correspond to modern interests (Prajogo, 2016, p. 249). Therefore, this measure allows monitoring demand and providing clients with necessary goods without losing profits.
Companies Examples
As the examples of companies that successfully cope with constantly changing consumer demand, several world-famous corporations can be listed. In particular, such a brand as Samsung, one of the flagships in the field of digital goods, has always demonstrated a desire to please customers and provide them with quality and relevant products. Despite high competition and the changing environment in this market, the company uses available resources effectively and builds partnerships with other large enterprises.
As Song, Lee, and Khanna (2016) note, “Samsung involves internal vendors and outside complementors in the new product development processes of smartphones” (p. 133). These measures allow the management of the corporation to have information about the current characteristics of demand and to respond to the changing preferences of the target audience.
Another global company that copes with the changing conditions of consumer demand is McDonald’s. According to Shah and Mujtaba (2016) who research the success of this network’s opening in India, “the demand of the local clientele is the key to the survival and growth of business” (p. 43). The management of the corporation strives to provide customers with new products and attract them with frequent promotions and discounts, which is a successful approach to organizing sales. Such a strategy contributes to satisfying the interests of consumers without losing profits. Therefore, the corporation’s plan aimed at providing products at affordable prices is successful.
Conclusion
The competent regulation of demand characterizes any company as a successful enterprise that can provide customers with quality services and allocate resources efficiently. Different strategies may be useful in organizing work, for example, clients’ individual choice of the service level or the policy of innovation. Such corporations as Samsung and McDonald’s demonstrate the successful application of business and marketing strategies and have a large target audience.
References
Prajogo, D. I. (2016). The strategic fit between innovation strategies and business environment in delivering business performance. International Journal of Production Economics, 171, 241-249. Web.
Shah, S., & Mujtaba, B. G. (2016). Contemplations for opening the first McDonald’s restaurant franchise in the IT capital of India’s Bangalore. International Journal of Marketing Practices, 3(2), 33-46. Web.
Song, J., Lee, K., & Khanna, T. (2016). Dynamic capabilities at Samsung: Optimizing internal co-opetition. California Management Review, 58(4), 118-140. Web.