Essays on Product Lines and Service Lines - Wesfarmers Limited Case Study

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The paper "Product Lines and Service Lines - Wesfarmers Limited" is a great example of a marketing case study.   Wesfarmers Limited one of the largest listed companies in Australia. It's headquartered in Perth. Wesfarmers Limited deals with a wide variety of product and services. Some of its business operations include office supplies, home improvement, liquor, supermarkets, convenience stores and hotels. It also engages itself with industrial interests including coal, industrial safety products, chemicals, fertilizers and energy The company has been farmers' cooperative of choice since its establishment in 1914. It has a large shareholder base of about 500,000.

As a private employer, Wesfarmers employs about 220,000 human capital. The company is working around the clock to meet its primary goal of providing satisfactory returns to its large shareholder base from its diverse operations 1 (a)Corporation A corporation is any firm that satisfies three distinct requirements so as to be recognized as having legal existence. a corporation is independent of its owners. The three requirements needed for the firm to be a corporation are (i) Continuity of existence; this implies that the firm can beyond the capacity and the lifespan of its owners.

It allows its owner to be transferred either through a gift of shares or sale. (ii) Limited liability; together with its owners, the firm is limited in their liability to its creditors as well as to any other obligatory strictly to the firm’ s resources. The only exception is when the owners give their personal guarantees. (iii)Legal existence; this is another critical issue to consider. Legal existence gives the company the ability to enter into a contract, own, sell, buy, be sued, sue other firms and persons.

Such obligations can make the corporation commit an offence and be punished and do good and be rewarded. The owners of a corporation shareholders who share the corporation’ s profit and losses made through its operations (Hansmann, 2006, pp. 1-19) Product portfolio It is a composition of all products which a business has. The product portfolio in a corporation can be composed of a variety of categories of products, diverse products lines as well as particular products. Sound management is essential for all these three levels of product portfolio to ensure the success of the corporation.

In many businesses, there are different managers managing a particular product, product lines, and highest level management managing a complete portfolio. Service portfolio The service portfolio is the representation of all the investments and commitments made by a service provider to its customer base. It requires active management of the investments the service lifecycle. Service lifecycle comprises of all service design, concept, and transition pipeline. The service portfolio is important in the service industry as it aids the management to prioritize its investment. It is also critical in helping the managers in the allocation of resources.

Service portfolio characterizes the ability and readiness of the service provider to meet the customers’ needs. The service portfolio is also important as it instills a specific financial discipline crucial to avoid making investments that are not profitable to the corporation 2. Business research a) Business unit The business unit is commonly referred to as a strategic business unit (SBU). The business unit is a center in a corporate company which pays critical emphasis on the market segment and product offering.

In businesses, business units are usually having the critical role of a marketing campaign, analysis of competition and marketing plan despite being part of the larger business entity. SBU is sometimes business itself or a branch of it. A large corporation such as Wesfarmers Limited can have several business units which strive to make their own profits as units. Such units are in a position to influence most of the dynamics that affect their performance. In spite of the fact that business units are operated as distinct businesses, business units are responsible for their parent corporation (Mö ller, Rajala, & Svahn, 2005, pp.

1274-1284)

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Möller, K., Rajala, A., & Svahn, S. (2005). Strategic business nets—their type and management.Journal Of Business Research, 58(9), 1274-1284. http://dx.doi.org/10.1016/j.jbusres.2003.05.002

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Who we are. (2016). Wesfarmers.com.au. Retrieved 23 August 2016, from http://www.wesfarmers.com.au/who-we-are/who-we-are

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