The national income and per capita income influence

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The national income and per capita income influence the functioning of the organization. Social factors: The prevailing trends, consumer tastes and preferences, culture and values of the people put direct impact on the functioning of the organization. Technological factors: The technology is changing on advanced rate so it influences the functioning of the organization.
The organization needs to update its technology from time to time. Research: It refers to the tools which are used to solve the managerial and operational problems of the organization. Type of data collected: the data is collected in first hand. Primary data is collected from the market analyst and manager. Tools use for research: notes are prepared to collect all the necessary information. Type of research: descriptive and exploratory research is conducted to collect the data. Descriptive research proves to be helpful in describing the situation and exploratory research helps in taking deep insight of the work place. Strategic objectives: To gain the competitive edge over the competitors. To increase the sales so as to capture major market share. To increase the profit up to 25% within 3 years. To attract the customers through sales promotion and advertising. Strategies planned by the organization: Pricing strategy: the company planned to produce its products at competitive prices but will not compromise in the quality level. It will made efforts to provide the cabinets in the good/ better/ best format to satisfy the customer needs as well as meeting the budget. Financing strategy: due to startup business, it is providing the products to consumer at 0% finance in the consideration of some ID proof due to which most of the people can easily afford these designers cabinet. They can pay this amount in affordable investments. Promotional strategy: The company works with local self help organizations when hiring employees and monthly sends out positive press releases to the local media outlets. It also

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