Tanya opened her small boutique in a town nearby a major tourist resort. She designs all the clothing in her boutique and employs a competent staff to assist with sewing and sales. Her brand name ‘Caribbean Designs’ appeals to both local customers and tourist. After launching her website over two years ago, her sales volume has doubled requiring her to expand to meet growing demand. The expansion of Caribbean designs has been very challenging as there are more workers to manage and orders to fill. Tanya is worried that this will soon compromise the quality of her product.
(a) (i) Define the term ‘market structure’
(ii) Name the market structure in which Tanya is involved.
(iii) Explain one reason for the market structure named.
(b) Identify three marketing activities and say how they relate to Caribbean Designs.
(c) (i) Give two benefits of growth.
(ii) Give one disadvantage of growth.
(iii) Discuss two ways in which Tanya can overcome her growing pains.