Hat Boys: Porter's Five Forces Model
Hat Boys The Hat Boys is a company made up of three college students that sells different types of hats online. There are three different styles of hats as each member of the company created their favorite design. Each member holds a different position in the company and is responsible for different departments. Bill is the Chief Executive Officer and is charge of the management of the company along with the IT portion of the company. This title includes overseeing the work of the three of them and keeping up to date on the IT, which includes the website. Bob is the Chief Financial officer of the company and is head of the finances and accounting of the company. Bob is in charge of setting the prices, along with tracking the sales and completing
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A problem that could arise with buyer power is that the customers driving down our prices on the hats. One way they could do this is by one big purchaser to want a large quantity for a low price. Supplier power could arise by the manufacture charging higher prices which would mean the Hat Boys would have to increase the price and in result lose customers. There is also a threat by other companies online offering a similar product at a lower price. The one advantage we have to this is that it would be a different design than ours as we have the designs patented. New entrants could create problems by having a similar product to ours. It would decrease the demand for our product if consumers chose theirs. One of the drawbacks of selling online is the threat of existing companies. With the internet being as big as it is there are a lot of competitors we will …show more content…
The policies include Information Privacy, Social Media, Acceptable Use, and Ethical Computer Use. All responses and posts to the website or any online website need to be written professionally. It is more difficult to talk to a customer over the Internet rather than in person. Different people read text differently and could be conveyed differently than the intended purpose. All three employees will have power to delete or edit any posts if one needs to. This will ensure the company keeps a professional look and will increase our customer
A problem that could arise with buyer power is that the customers driving down our prices on the hats. One way they could do this is by one big purchaser to want a large quantity for a low price. Supplier power could arise by the manufacture charging higher prices which would mean the Hat Boys would have to increase the price and in result lose customers. There is also a threat by other companies online offering a similar product at a lower price. The one advantage we have to this is that it would be a different design than ours as we have the designs patented. New entrants could create problems by having a similar product to ours. It would decrease the demand for our product if consumers chose theirs. One of the drawbacks of selling online is the threat of existing companies. With the internet being as big as it is there are a lot of competitors we will …show more content…
The policies include Information Privacy, Social Media, Acceptable Use, and Ethical Computer Use. All responses and posts to the website or any online website need to be written professionally. It is more difficult to talk to a customer over the Internet rather than in person. Different people read text differently and could be conveyed differently than the intended purpose. All three employees will have power to delete or edit any posts if one needs to. This will ensure the company keeps a professional look and will increase our customer