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ACC Group - Case Study Example

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When Claire's Antiques, made the bid they were not aware of the competition and the bid the competition would make. The bid that Claire's Antiques made was for $650 for 150 clocks which brought the total to $97,500…
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Acc Group When Claire's Antiques, made the bid they were not aware of the competition and the bid the competition would make. The bid that Claire's Antiques made was for $650 for 150 clocks which brought the total to $97,500. The competitor made the bid at a lower price; this grabbed the attention of the consumer. For Claire's Antiques, this order is very important because without they would not be profitable and would have to layoff many workers.
The company now has to consider its alternatives, the main assumption that we have during this consideration is that Claire's Antiques cannot have a budget based on speculations of money that is not there yet.
If a rebid is to take place, it could be possible for the competitors to lower their price, thus Claire's Antiques should clearly refuse the rebid. In this the consumer would have more time to think the decision through and compare the two companies.
One thing that Claire's Antiques can do is to offer more services, such as after sales service. This would make their offer more interesting even though the price is higher. Claire's Antiques should find out what type of service is important to the customer and include them in their sales process. This would help validate the higher price being charged by them. A discount can be offered if the customer is willing to pay cash or make the payment upfront, that is as soon as the goods are received or within a week of delivery.
Every company has a weak point; Claire's Antiques should find out about the weak point of their competitors and use this to their advantage. There are many things that you need to consider before actually making the bid and once you have done so, you need to sit back and see how the competitors and the customer reacts.
The company does not need to show that it is in a volatile situation, otherwise the customer and the competitor will take advantage of this fact. Also, the company should not let many bidders enter the market because the more companies that will be involved, the more likely it is for prices to decrease for the clocks.
There are a few other options available to the company; they could submit an older bid which they have used for other orders. They could also make a new bid for the order, including more services or reducing the price but not bringing it down to $600. Claire's Antiques could include services and bring the price a little down.
Another option would be to focus on their competitive edge that is the company being an Antiques wholesaler. The quality of the clocks may not be same and the style associated with the clocks will not be the same. The company could focus on this advantage and make sure that the customer knows the difference between the clocks. In the end, the winning bid then
is on average below the item's true but unknown value; but with more and more bidders the price approaches the true value, and with a very large number of 4 bidders, comes very close to it. (Wilson, 1977; Milgrom, 1979 from R. Preston McAfee and John McMillan, 1999)
Bibliography
R. Preston McAfee and John McMillan, 1999, Game Theory and Competition, http://www.stou.ac.th/Thai/Schools/Sec/Info/%BA%B7%A4%C7%D2%C12.pdf Read More
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