L.L Bean is a privately held retail company that specializes in outdoor sporting equipment and quality apparel. It was founded by one outdoorsman by the name of Leon Leonwood Bean in 1912. As of today, L.L. Bean still sticks to its mission as making customer satisfaction their top priority. It is headquartered in Freeport, Maine and is home to 22 retail stores and 10 outlets in the US. They can also be found internationally in Japan and China, where it hosts another 70+ retail stores and outlets.
Based on the research found, I consider L.L. Bean to be a monopolistic competitive company. Although there are numerous sellers in the outdoor retail market, L.L. Bean continues to offer other incentives to set them apart from the competition. Unlike the competition that offers free shipping for a promotion or limited time, in March of 2011 L.L. Bean offered this service year around. This incentive can be added to any purchase, as there is no minimum amount required. It can be shipped anywhere in the US and Canada and the promotion never ends. They take so much pride in their quality boots that they offer a 100% satisfaction guarantee or you ca return or exchange the item (as long as it …show more content…
Bean. Political factors that may affect the business are the laws and regulations in both Japan and China. Although headquarters are in the US, tax and employment laws are sure to be different internationally. Economically, we are looking for to a bigger turnaround. However, this could put a halt to any plans the company may have. If they have to deal with rising labor and operational cost, it could cause a loss in profitability. L.L. Bean is in a good position with the social media takeover. They are a part of a number of sites that have millions of followers, such as Facebook, Twitter, and Google+. Being a part of such media sites, has allowed many companies more success as this can stand as another form of
Based on the research found, I consider L.L. Bean to be a monopolistic competitive company. Although there are numerous sellers in the outdoor retail market, L.L. Bean continues to offer other incentives to set them apart from the competition. Unlike the competition that offers free shipping for a promotion or limited time, in March of 2011 L.L. Bean offered this service year around. This incentive can be added to any purchase, as there is no minimum amount required. It can be shipped anywhere in the US and Canada and the promotion never ends. They take so much pride in their quality boots that they offer a 100% satisfaction guarantee or you ca return or exchange the item (as long as it …show more content…
Bean. Political factors that may affect the business are the laws and regulations in both Japan and China. Although headquarters are in the US, tax and employment laws are sure to be different internationally. Economically, we are looking for to a bigger turnaround. However, this could put a halt to any plans the company may have. If they have to deal with rising labor and operational cost, it could cause a loss in profitability. L.L. Bean is in a good position with the social media takeover. They are a part of a number of sites that have millions of followers, such as Facebook, Twitter, and Google+. Being a part of such media sites, has allowed many companies more success as this can stand as another form of