The Mattress Business

The Mattress Business

The mattress business gives one of the most significant margins if it is well managed and maintained. For a while, the sales of beddings and furniture have been on the rise, with the global market for mattresses growing steadily as a result. How mattress stores succeed to stay in business mostly is because of the high margin with a low overhead that arises in its management.

Conducting a value chain analysis of the mattress industry creates various added advantages for a company in the industry. The analysis helps identify competitive advantages, improve material, finances, and information flow, identify the complex interrelationships and dependencies, and formulate specific firm strategies. In describing the porter’s value chain analysis of a mattress firm, a firm must consider all activities in an equal magnitude. With the primary chain activities being involved directly in producing and selling the mattress to its target market consumers.

Developing a strong supplier relationship is necessary to help in receiving, storing, and distributing the mattresses. Without proper analysis of the inbound logistics, a firm will greatly face challenges in the product development phase. A good analysis of the industry’s operations activities covers operational activities such as packing, assembling, and testing mattresses. Analyzing and describing the operations activities helps maximize efficiency and improve productivity while ensuring the mattress business’s competitiveness. The outbound logistics involves activities that deliver the final mattress product to customers, passing various intermediaries. Such activities include; scheduling, order processing, warehousing, transportation and deliveries, and material handling. Sales and marketing activities play a crucial role in the success of a mattress store. Ensuring customers are aware of your product and why it is better than its competitors (Sarwar, 2017). This phase’s activities will include; advertising, promotional activities, selecting the right channel and pricing strategy and creating channel relationships.

The support activities that ensure the coordination and facilitation of the primary actives in the value chain analysis. The firm infrastructure involves various activities like financing, strategic planning and management, legal matters, and accounting. In contrast, the human resource management handles the various HRM aspects like selection and hiring, training, rewarding, and employee performance management. On the other hand, technological support helps in the integration of the production, distribution, and marketing activities with the research and design function, ensuring innovation and invention.

For a mattress company to succeed in the industry, the owner should be able to create a suitable environment for business success. Having various capabilities like knowing the current market system and need, being knowledgeable of the product they are selling and providing customer-friendly terms of purchase, and providing a variety of choices to the customer. Furthermore, the company pricing strategy, market innovative techniques, durability, and product customization are some of the competitive resources for a company’s success in the market industry. In addition, packaging and delivery, different mattresses, and proper mattress pricing create a crucial factor for potential mattress business owners to break into the field.

The approach preferred would be the differentiation strategy. The approach would focus on the production and selling of unique products and services to the customers. (Scheele, 2014).  Offering distinctive mattress products that are different from the competitors. The company can expand its customer base through a differentiation strategy by emphasizing the unique mattress features and products. Providing a wide variety to match the various customization of mattresses that are unique as per customer’s preferences and demands creates a unique competitive advantage for the firm. Providing services and products that are different from other companies creates a good marketing strategy for any company to be competitive and successive in any given industry. At the same time, it builds customer loyalty and the right brand image.

References

Haider, A. A., Zafar, A., Khalid, A., Majid, A., Abdullah, M. A., & Sarwar, M. B. (2017). Marketing Management. Head, B. 22.

Scheele, D. (2014). The trade-off between cost leadership and differentiation. Munich GRIN Verlag GmbH 2014