Question

Identify a small, local business with an internet presence and demonstrate how it is applying management strategies? APA Paper Format

Answer 1

We can take the example of a local grocery shop that is also using online shopping websites such as Amazon to sell its products to customers all over the country. The shop owner is using different management strategies to manage the shop efficiently and to reduce the overall cost of operation.

In order to optimize the inventory level of the different products, it uses the concept of Economic Order Quantity to find ou the inventory level that has to be marinated in the shop

For improving the sales of his products, the seller also provides a discount of 15% on the mentioned price so that it can attract price-sensitive customers.

For the regular customers, he also facilitates the option fo buy now-pay later so that the customer can buy in large quantities and he can create loyalty among the customers.

He is also using the social medial platforms such as Facebook, Instagram to promote his products on-line