There are lots of ways through which firms can fast track their development and ensure an increase in their profit base. I think and I know one of these ways is the designation of a retail product. What then is a retail product? Retail products are products that are accessed by everybody irrespective of social class at a reasonable price.
You see, one of the greatest things many organizations are not doing is the inability to develop a product that can be accessed by everybody in a particular country. Firms and organizations in my own estimation tend to make more money, leverage on economies of scale and have a wider coverage of their market base when they develop a retail product.
For instance firms like Coca-Cola, McDonalds, Mtn and other big multinationals become huge and have a large share of their respective market base just by developing and offering a retail product that can be accessed by everybody, anywhere in any country irrespective of the nation’s economy. A bottle of Coca-Cola can be bought by an American and also by a Djiboutian thus making Coca-Cola a market leader in soft drinks both in America and also in Djibouti. Hence, for firms to be able to expand their market base and become a market leader there is a need to design a retail product that can be accessed by everybody irrespective of their social class.
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