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Retail businesses are great examples. A lot is observable by visiting competitors’ stores. Traditional retailers – even mighty Wal-Mart – are being disrupted by online players https://casino-las-atlantis.com/blog/highway-slots/. But some innovative brick and mortars also compete differently. Costco charges an annual fee; Wal-Mart doesn’t. Costco’s large package sizes attract bigger baskets, require less replenishing time and allow faster checkout, which drive significant efficiency and help sales per square meter, making more of fixed costs. Aldi has another way to disrupt many giants. It has real scale for each SKU it manages by focusing on fewer SKUs and only some branded ones. Aldi also limits fresh produce that requires more service and costly cold-supply chains with higher shrink. It standardizes the simple look and feel of the stores, which are cheaper to build and maintain. Differences such as these allow the likes of Costco and Aldi to offer customers lower prices than bigger supermarkets with greater purchasing power can.
Insight into how your rivals’ competitive economics differ from yours is one of the hardest and most important things to understand. How does scale help if they are much bigger? If their assets or personnel productivity is higher, how far can they reinvest it in pricing against you? Is their sales mix more favourable across portfolios, geography, channels and the like? What’s their real marketing spend, and how does that influence your customers’ willingness to pay for their products?
Communication is always a key component. Effective communication puts the entire team on the same page as against everyone working towards a different goal. I find that one way of adequately communicating is getting inputs from the various stakeholders that way you can evaluate their understanding of the desired objective and also clarify where needed. Strategic communication also has to be deliberate especially where frontline staff are involved. Dissemination of information to frontline staff has to be central as the tendency for information distortion can be really high.
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Casino software providers are the companies behind the online free slots we know and love. When you play online, you’ll always come across games from industry giants like IGT and RTG. And you’ll even see innovative slots from newcomers like Pocket Games Soft.
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