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This paper briefly analyses the possible consequences for Tate & Lyle having a major product like Granulated white sugar in the growth stage of its product life cycle and the case for and against Tate & Lyle deciding to sell its sugar under the Fair-trade label.
During the growth stages of a product, the product manufacturers should focus more on devising specific strategies for maintaining the growth. During this stage; “more competitors will enter the market, companies increase the number of product offerings in order to differentiate themselves from competitors, the prices may begin to fall and the emphasis may shift from moderate to heavy advertising and promotion activities”(Planning: Middle Growth Stage, 2010). Tate & Lyle’s product Granulated white sugar is in the growth stage of its product life cycle and hence it may severe completion from the market as more and more competitors may enter the market for reaping the profit. It is difficult for Tate & Lyle to sell their product for a higher price even though the sales volume and public awareness may increase.
Tate & Lyle needs to elaborate their distribution or logistics channels in order to reach more remote customers during the growth stage of their product, Granulated white sugar. Moreover, the expenditure for promotional activities and advertising should be increased in order to tackle the efforts of competitors. Even though the sales of Granulated white sugar may increase during the growth stage, the expenditure for maintaining the growth phase would be more than any other stages of the entire life cycle of the product.
Fair Trade is an internationally-recognised approach to trading which aims to ensure that producers in poor countries get a fair deal. A fair deal includes a fair price for goods and services, decent working conditions, and a commitment from
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Milton argued in this article that the sole purpose and core obligation of a business is to act in the shareholders best interest- i.e. to create shareholder value or in more blatant terms, to generate profit for them (Friedman, 1970). However, Wearden (2010) adds that there are many who argue against this, the proponents of Corporate Social Responsibility or Sustainable Business, those who advocate the integration of social and environment concerns in their business operations.
For instance, the suppliers, employees, and products and services of a business organization are influenced by it. In addition, government policies, employees, suppliers, and competitors exert substantial influence on a business organization. As such, the effect of the environment on a business is inversely proportional to its size (Dyer & Ross, 2008, p.
1). This paper briefly summarizes the enormous business potential in the USA as witnessed at one of the major business events known as “Denver Gift, Home, Jewelry & Resort Show” held in Denver, Colorado from February 26, 2011 to March 1, 2011. To encourage the manufacturing and sale of Native American products, Denver Gift, Home, Jewelry & Resort Show hosted 450 exhibitors selling nearly 4000 types of products including jewelry, furniture, gifts, cosmetics, stationery, handicrafts, garden accessories, interior decoration, etc.
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10 Pages(2500 words)Essay
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