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The UPS Company has the opportunity to improve its market share through innovation, strengthening customer relationships, and carrying out smart hiring practices. A smart and competitive marketing team in the company would guarantee growth as they will be the best option to deal with the competitors. The percentage that the UPS Inc controls in the market might increase if the customer relationships and various innovative ideas are included in the operations of the delivery company. Innovations ought to be carried out for the benefit of the customers since they are the key determinants of the position of the company in the market.
Innovations such as the use of technology to improve operations are essential in the running of businesses. For instance, the FedEx Inc has used technology in the past to improve its operations. The use of technology may include E-purchasing as an alternative vehicle that companies use to generate more revenue and maintain a good customer relationship. The UPS Company needs to invest more in operations that would lead to more markets, just as the FedEx does through the use of technology. E-purchasing would also ensure that the UPS Company gets more competitive pricing since a company that uses the technology is no longer limited to local merchants. Additionally, the transaction cost during the operations is also reduced due to less paperwork involved (Farhoomand, 2003).
Smart inventory control systems may be significant in the reduction of inventory levels; thus, improving profitability and speeding up customer feedback about the operations. When a company adopts a smart inventory system, it is able to track order status in an easy manner as well as identifying the peak and low periods that would allow the company to adjust to purchases. Market position is improved when the business takes advantage of the latest technologies that would improve its productivity. The UPS Company needs to use the web sources and send its marketing team to shows that illustrate to investors the latest innovations in the market.
In order to be innovative as the FedEx Inc, the UPS Company has to choose trade shows as a great resource since the software vendors at the trade shows provide useful information to vendors. The shows can give the company an opportunity to narrow down its search for solutions that are concerned with the activities of the organization. Getting in touch with consulting services may also be vital in the selection of criteria that best suits the need for growth in market position.
Companies with well established markets such as the UPS Company need to protect their existing market share by taking measures that would prevent customers from jumping ship when their competitors provide new offers in the market. Despite the new offers in the market, companies still have the option of using the same old tactics to satisfy customers. It is a trend for satisfied customers to speak well about the products of a company to their family members and friends who may also end up using the same products or services for their satisfaction. The company has the task of increasing its market position through word of mouth by strengthening their customer relationships.
Companies with high market share such as the UPS Company have challenges that are also regarded as their curse. Although the companies are known for an advantage of high profits, the high market share also means headaches. The companies are targeted by competitors, consumer organizations and government agencies. UPS Company has to make decisions and manage their operations with more care so as to deal with the strategies of competitors. Managing the activities of its competitors, the UPS Company has to consider the regulations that the government has put in place to control its operations.
It has to cope with the antitrust initiatives that the government takes to renew the structural characteristics of markets. To improve its market position, UPS has to make decisions that would prevent it from earning penalties due to its success. The company is concentrated in an expensive legal battle that it may be forced to change its ways of doing business.
Other companies such as the FedEx Inc have dealt with the problem of market position by estimating the relationship between market share and profitability. There are measures that the companies take to prevent harmful businesses from being successful. The company has also estimated the amount of risk that is associated with the market position that it strives to achieve. Additionally, the corporation has determined the point at which an i9ncrease in market share cannot bring enough profit for compensation of the risks to which the company exposes itself (Farhoomand, 2003).
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