the Project B Management Consulting team sees an opportunity to widen Cango’s advertising scope and capture these shoppers. The shoppers consist of females with higher levels of education that generate a greater salary. This strategy supports Cango’s targeted customers as being a majority of Generation Xers and Generation Yers.
Demographic Segmentation Source: Experian Simmons Survey
The online global retail e-commerce market, consisting of 875 million internet users, which Cango is part of, has grown at an average rate of over 12% during the past three (3) years. In 2014 the global e-commerce industry total sales was nearly $291 billion. Online gaming accounts for $70 billion of the total online sales, equating to 24% of total …show more content…
The main reason for this is highly imposed shipping costs. Cango’s profits will increase if the product can be received electronically. In addition, time and money can be saved if Cango does not maintain their inventory or ship product. Project B Management Consulting recommends obtaining a partner for controlling their inventory and providing a drop shipping service as well.
Market Strategic Recommendations With incredible room for growth within the online market, CanGo has to remain informed of the market along with any demand changes. This leaves enormous and promising potential for CanGo in the online gaming market. As long as the proper planning is implemented, and market analyses are understood, CanGo is capable of taking advantage of this huge profit opportunity. It is important that CanGo moves forward with their market plan quickly in order to grow their reputation within the market, and increase their online gaming profits. In order to grow CanGo must remain desired by consumers. Project B Management Consulting recommends that CanGo utilizes online and off line advertising to assist in this effort. Advertising methods such as publications, billboards, satellite, and the internet are the vehicles that can support CanGo’s online market …show more content…
A comparison of bottom line figures of Cango’s greatest competition is the best place to start. What we’ve done here (see next page) is taken figures from the mentioned company’s balance sheets and income statements. Then, converted that data into a more meaningful ratio. Financial ratios gauge the effectiveness of a company to manage liquidity, debt, profitability, and efficiency. The table below demonstrates that Cango can compete with the more established rival companies in the
Demographic Segmentation Source: Experian Simmons Survey
The online global retail e-commerce market, consisting of 875 million internet users, which Cango is part of, has grown at an average rate of over 12% during the past three (3) years. In 2014 the global e-commerce industry total sales was nearly $291 billion. Online gaming accounts for $70 billion of the total online sales, equating to 24% of total …show more content…
The main reason for this is highly imposed shipping costs. Cango’s profits will increase if the product can be received electronically. In addition, time and money can be saved if Cango does not maintain their inventory or ship product. Project B Management Consulting recommends obtaining a partner for controlling their inventory and providing a drop shipping service as well.
Market Strategic Recommendations With incredible room for growth within the online market, CanGo has to remain informed of the market along with any demand changes. This leaves enormous and promising potential for CanGo in the online gaming market. As long as the proper planning is implemented, and market analyses are understood, CanGo is capable of taking advantage of this huge profit opportunity. It is important that CanGo moves forward with their market plan quickly in order to grow their reputation within the market, and increase their online gaming profits. In order to grow CanGo must remain desired by consumers. Project B Management Consulting recommends that CanGo utilizes online and off line advertising to assist in this effort. Advertising methods such as publications, billboards, satellite, and the internet are the vehicles that can support CanGo’s online market …show more content…
A comparison of bottom line figures of Cango’s greatest competition is the best place to start. What we’ve done here (see next page) is taken figures from the mentioned company’s balance sheets and income statements. Then, converted that data into a more meaningful ratio. Financial ratios gauge the effectiveness of a company to manage liquidity, debt, profitability, and efficiency. The table below demonstrates that Cango can compete with the more established rival companies in the