Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Identify the possible revenue models for online business based on the below case study Hardware in Sandushy, Ohio, in 1998. He had been working during

Identify the possible revenue models for online business based on the below case study

image text in transcribed
Hardware in Sandushy, Ohio, in 1998. He had been working during his college summer vacations for a long-established hardware store and decided he liked the business. Halis Hardware developed an excellent reputation as a friendly neighbourhood store. The store managers are all active in communities and the store regularly sponsors youth sport teams and supports local charities. When hired, salespeople go through a comprehensive training program that includes product training (plumbing, electrical, power tools, ooring, garden, etc.) customer service skills training. As a result of this focus on service, Hal's Hardware became a community gathering place. Hal oers classes and workshops for homeowners and hobbyists three evenings each month, and regularly schedules seminars for professional customers on weekend mornings. Many of these workshops and seminars are under written and taught by manufacturers to promote their products, but an increasing number is being created by Hal is Hardware stat)\" members. in recent years, Hal has become concerned that the business is no longer growing. The store is facing increasing competition from hardware chains such as Home Depot and Lowe fs. These national chains have opened many new stores, which are larger; carry more items and oer lower prices on some items. The competition is fierce. For example, Halls Hardware closed its lumber department because of the competition. The national chains buy lumber in such large quantities that they can obr far low prices. Hal matched his larger competitors' prices, but found he was unable to earn a prot on lumber sales and that the department consumed a large amount of oor spaces in the store. Hal was worried that this sort of problems could develop in other departments, so he began looking for ways to add value to the customer experience, especially in ways that the national chains were not willing or able to do. For example, Hal has found that many people want to try out a new power tool in

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Practice Of Statistics

Authors: Daren S. Starnes, Josh Tabor

6th Edition

978-1319113339

Students also viewed these Economics questions

Question

Please help me evaluate this integral. 8 2 2 v - v

Answered: 1 week ago