Wild Craft:
Wild craft is an Indian outdoor and adventure product company headquartered in Bengaluru. The company’s products sold in over 175 exclusive stores and 4000 multi branded stores in India and abroad.
Economic concepts related to Wild Craft
1.Economies of Scope: As this company is operated all over India in a large quantity, it enjoys the benefits of economies and also economies of scope as it diversified its products by competing in different sectors if market.
2.Incentives: They also provide different offers for clothing, accessories by which they attract large customer base.
3.Law of Demand: If the demand for their products increase they will increase price and if the demand decreases they will reduce reduces the price and also offers discounts to attract customers.
4.Price Discrimination: Wild craft has both online and offline stores. They provide same product at low price on online stores when compared to offline stores because of several reasons.
5.Cost and Efficiency: Cost is the amount spent for the production and supply of a commodity. Efficiency represents the cost and quality effectiveness of a manufactured item. Wild craft provides products at reasonable price with very good quality because of low cost of manufacturing by using scarce resources effectively.
Wild craft is an Indian outdoor and adventure product company headquartered in Bengaluru. The company’s products sold in over 175 exclusive stores and 4000 multi branded stores in India and abroad.
Economic concepts related to Wild Craft
1.Economies of Scope: As this company is operated all over India in a large quantity, it enjoys the benefits of economies and also economies of scope as it diversified its products by competing in different sectors if market.
2.Incentives: They also provide different offers for clothing, accessories by which they attract large customer base.
3.Law of Demand: If the demand for their products increase they will increase price and if the demand decreases they will reduce reduces the price and also offers discounts to attract customers.
4.Price Discrimination: Wild craft has both online and offline stores. They provide same product at low price on online stores when compared to offline stores because of several reasons.
5.Cost and Efficiency: Cost is the amount spent for the production and supply of a commodity. Efficiency represents the cost and quality effectiveness of a manufactured item. Wild craft provides products at reasonable price with very good quality because of low cost of manufacturing by using scarce resources effectively.
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