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Radio Frequency Identification Technologies, Research Paper Example

Pages: 1

Words: 360

Research Paper

The use of radio frequency identification (RFID) technology to reduce cost, increase revenue and crate a competitive advantage in the organic food business is majorly beneficial to your business in relation the market segment you target to sell your products (Want, 2006). Our market segment to find consumer are obviously the vegetarians and consumers that occasionally eat green and organic food. According to the competitors mention in the information, who are large scales producers, a competitive advantage will only be created and enhanced through creation of new and innovative organic products? The first new product would be based on a holistic package that contains the organic food, health and beauty products and the smoothie generally purchased by consumers. It is like a package containing all the essential goods in it.

There are consumers, most likely vegans, who usually purchase groceries as whole package that they use for an entire month. Using a radio frequency identification technology for an holistic package that contains all the organic food plus whole possible beauty products that a potential consumer can utilize at a certain time will help you know how manage inventory numbers and push for more sales (National Research Council (U.S), 2004). Providing these consumers with smart cards from your business that provide loyalty point for this product will be strategically advantageous. Most certainly consumer retention will be high and there is a possibility for shift in consumers from your competitors to your business.

The second new product I would create that uses radio frequency identification technology would be a product that focuses on reiterating to the non-vegetarians and non-organic market segment in your locality on importance of going green. From time to time they will purchase your product but providing incentives and prudently giving loyalty points to this market segment will also be strategically beneficial. You will be able to supply to your regular consumers while increasing the chance of capturing this new market segment there after increase your revenue. (National Research Council (U.S), 2004)

References

National Research Council (U.S). (2004). Radio frequency identification technologies: A workshop summary. Washington: National Academies Press.

Want, R. (2006). RFID explained: A primer on radio frequency identification technologies. San Rafael: Morgan & Claypool.

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