Strengths and Differentiation of Chic Republic Free Essay Example

1. Know customer need

Chic Republic is the first home fashions store in Thailand with a collection of furniture “Modtrad” Trend. Chic Republic is the prototype store in the form of standby alone with the collection of fashion, furniture, home furnishings that are popular in both Europe and America with less expensive price and a one stop service on the Home Fashion Store. The region has established a separate zone, each decorated to reflect the style that customers see such a Modern Classic, Classic Vintage, Oriental Modern, Classic French, etc.

As examples to see what combinations and then showed a “Modtrad” of each culture and inspire customers.

2. Set your positioning

Chic Republic selected this location because purchasing power of customers in Bangna district is quite high and Ramindra-Artnarong Express Way Route is the landmark of furniture and home furnishings stores and at present the home furnishings store has altogether more than 100 units in these places. Chic Republic will be provided zone to customers to be very comfortable walking together.

Add convenience to customers by designer and stylist with real experience that has been certified guarantee and is accepted as a professional, Duke – Panudej Wattanasuchart and A. Chokchai Nanthawakul is acting as the Personal Interior Designer & Stylist forward advice at no cost at all including shipping services, free installation and special discounts.

3. Launch your promotional campaign

Chic Republic has launched special promotion for two top of customers will have highest purchase for every two weeks will be receive the Special Chic packages that give customers experience life’s top class and luxury travel at World Class Bangkok – Hong Kong.

Another sales promotion method it has cooperated with many credit cards such as HSBC, SCB, KBANK, KTC, etc. and if customers shop for every specific price, they will be get several prizes, for examples; getting IPAD wifi+3G 32GB for every purchase 500,000 Baht; BlackBerry Bold 9700 for every purchase 300,000 Baht.

How Chic Republic can improve their service or performance

1. Non-store retailers increase their visibility in store-based retail channels; Operators of non-store retailing, particularly direct selling and home shopping, introduced their shops at shopping malls, hypermarkets, and high traffic areas in order to expand their brand exposure to non-users of their products. Moreover, the outlets are allowing consumers to try the products and/or are being used for product demonstration to stimulate purchase.

2. Large chained retailers continue to dominate market; Leading chained retailers like CP All PCL, Eka-Chai Distribution System Co Ltd, Central Retail Corp, Big C Supercenter PCL and Cencar Co Ltd continue to maintain the top five positions in the retailing market. They continue to perform ongoing expansion together with aggressive marketing, advertising, loyalty schemes and product innovation to support strong growth.

3. Chic Republic should attend International Furniture Fair or Exhibition because they can penetrate into niche markets, as well as, to attract more potential customers with smaller orders. Especially Thailand International Furniture Fair will undoubtedly play a strategic role in helping Thailand meeting its export goal. The event is anticipated to attract potential buyers and business partners from around the world – such as Japan, the United States, the European Union, India, China, the Middle East, Africa, Canada and Australia – to engage in business negotiations with Thai furniture entrepreneurs and producers.

Example of Integrative Bargaining

Integrative bargaining is important because it usually produces more satisfactory outcomes for the parties involved than does positional bargaining. Positional bargaining is based on fixed, opposing viewpoints

(positions) and tends to result in compromise or no agreement at all. Oftentimes, compromises do not efficiently satisfy the true interests of the disputants. Instead, compromises simply split the difference between the two positions, giving each side half of what they want. Creative, integrative solutions, on the other hand, can potentially give everyone all of what they want.

There are often many interests behind any one position. If parties focus on identifying those interests, they will increase their ability to develop win-win solutions. The example of interest-based bargaining and creating joint value is that of a dispute between two little girls over an orange. Both girls take the position that they want the whole orange. Their mother serves as the moderator of the dispute and based on their positions, cuts the orange in half and gives each girl one half. This outcome represents a compromise. However, if the mother had asked each of the girls why she wanted the orange — what her interests were — there could have been a different, win-win outcome. This is because one girl wanted to eat the meat of the orange, but the other just wanted the peel to use in baking some cookies. If their mother had known their interests, they could have both gotten all of what they wanted, rather than just half.