LifeStyle Lift Company Essay Example | Topics and Well Written Essays - 250 words

life-style go on Company - Essay Example life style Lift Company operates in an constancy characterized powerful buyers. The companys target market is in general women aged between 50 and 70 years. LifeStyle Lifts buyers are highly antiphonary to product price, credibility, quality as well as accessibility. High insurance cost in the industry makes it difficult for buyers to switch from one firm to another. In order to minimize the threat of high dicker power of buyers, the company can offer excellent customer service and ensure high transparentness in its operations.LifeStyle Lift Company needs to establish competitive advantage over its rivals in order to do business successfully. It needs operation precision machinery and operation tools that can ensure good and effective service delivery to customers. There are few medical companies supplying LifeStyle Lift with the resources it needs to serve its target market effectively. Few suppliers in the industry mean high supplier bargaining power and hence high product prices. Currently, the company is more focused on the prices of its products rather than quality. However, it is difficult for companies in the industry to change suppliers because the business is more specialized.Some of the barriers to entry in LifeStyle Lifts market segment include insurance and legal requirements, which are both financial and regulatory. However, the barriers to market entry are not meant to discourage foreign firms from invading the local markets and hamper spheric growth of the