BUS 181 Team Term Project #2 - 10,000 Villages Product and Market Analysis

Include an introduction to your explanation of both quantitative and qualitative information (10 points)

Globalization has totally transformed the human life and organizational performances. The world has now become more than every enriching and challenging place to work with different cultures, nations and systems. Organizations that are already operating outside their home country are not limited to a few huge enterprises anymore. The world has watched the proliferation of multinational companies from many countries and later from the developing economies. For this purpose, it has become necessary for almost all companies to operate in their own locality first, and when they have enough control over their area of origin, then they must go national and then international. This is the need of the time and the demand of customers; otherwise in this highly competitive environment it becomes almost impossible to survive.

To understand with the discussion, on a qualitative note, Ten Thousand Villages has been designed and developed with the objective of unique, hand-crafted jewellery, gifts, souvenirs, home décor, art, sculptures, and pieces of textile and special ornaments that depict and narrate the rich cultural heritage of Asia, Africa, Latin America and the Middle East. With the dying business of art and artisans, the company was established immediately after the ended of World War II in the year 1946. The online user interface provides five (5) broadly and distinctly different varieties of these exquisite pieces that pertain to capture the eye of an artist. These include living traditions, world spirit, global dreams, timeless currents and finally treasure grove (Achenbaum, 83).

Examples of quantitative information that should be included are the number of products in each category, the price range from lo to high, etc. (20 points).

Functioning in 38 countries, Ten Thousand Villages strives long and hard to bring a cross-market acculturation and at the same time to pave for the purpose and objective of catering to the dying business of artisans. Targeted and positioned as a luxury-item, online user interface, Ten Thousand Villages, created and developed in alignment and the laws and regulations of the World Fair Trade Organization (WFTO) aims to provide more-for-less value proposition and at the same time create a strong bond with both current and potential customers (Alden, Steenkamp & Batra, 1999). Running as an NGO and charitable organization, Ten Thousand Villages pave way for giving maximum sales and give out quality products of clients majorly coming in from South Asia (45%), followed by East Asia (17%) and in the third place with Latin America/ the Caribbean (15%), that are interested in the purchase of these valuable ornaments.

For qualitative information, analyze and describe the products in each category, such as clothing, furnishings, decoration, etc. (20 points)

Diversification allowed the company to utilize market power by indulging in predatory pricing giving them monopolistic advantages over new entrants and existing competition in that particular market or industry. The company has the advantage of being able to utilize resources and ...