You are talking with Mike and Tiffany at lunch. “You’ve done some great research and brought up some good ideas to implement in the presentation,” you say. “There is one element that we are missing.”
“One of the most important aspects of the strategy: our competitors,” Tiffany states.
“I’ve already done some analysis, and there are many in the global market. It seems like there are several office furniture companies thriving, but not as many custom furniture manufacturers,” Mike elaborates.
“Well, we need to provide the board with some solid competitors. I’ll work on finding our top two,” you say. Complete the following:
Company Biography In January of 2002, John Ferrer and his wife Deborah started their own corporation, a large custom furniture manufacturer located in Boston, MA. Their initial accounts were in the Northeastern region of the United States and annually observed a constant profit increase. By March of 2006, they were able to grow the company enough to go from 5 distribution and manufacturing plants to 10 to allow shipping to 48 states. Although they have two retail stores, one located in Phoenix and one in Boston, their primary source of revenue is online catalog sales. They have 10 manufacturing plants and distribution centers throughout the country. John and Deborah’s corporation is known throughout the industry for its exceptional customer service and superior quality. The contemporary designs lend themselves to a younger market, and the customer base is predominantly upper-middle class because it is one of the highest-priced furniture companies in the market. Part of the appeal of John and Deborah’s brand is their consistent involvement with the local communities to create green gardens. They have also been a major contributor to organizations that build houses for people in need. One of their primary strengths is their vertical integration. They have a team of in-house designers saving the company design costs and allowing the flexibility to rapidly change designs as the market changes. Their products have been featured on several prominent home design and gardening shows and endorsed by several well-known designers. Because the recent housing market sales decline (8% from 2005–2006), home renovations have slowed significantly. This has impacted the amount of furniture and fixture sales and continues to impact revenue. Furniture sales in the U.S. have decreased significantly, and John and Deborah have recently been discussing the possibility of global expansion. Another potential threat to their company is that many higher-end brands have been marketing...
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