Browsing: D40

Introduction. Although tobacco products and tobacco crelated products have been described in numerous occasions by different worldwide known researchers, health specialists, political and public figures, as well as health associations as being extremely dangerous and harmful for individuals’ heath (being reported that “smoking causes many kinds of cancer, heart disease and respiratory illnesses which are fatal for many sufferers”), due to the physiologically and psychologically addictive nature (and not only) of their key ingredients (among which especially nicotine, which according to the specialists can be associated more with the effects induced by “heroin and cocaine – rather than shopping, chocolate or the Internet”), the tobacco industry seems to flourish year by year, although “it never claimed any health benefits”, gaining more and more market share and brand share by attracting more and more customers.

Aim of the study. This paper aims to addresses the following key aspects: first of all, the article is keen on providing an answer to the following question: “What is the place of the tobacco market and tobacco companies worldwide?” in order to show the importance of tobacco and tobacco related products worldwide and to stress the importance of this continuously growing market worldwide (despite its controversial nature); second of all, this paper is focused on providing an answer to the following question: “What is the evolution of the land devoted to growing tobacco and its importance for the tobacco companies worldwide?” in order to show connection that exists between the following elements: the land devoted to growing tobacco has known a continuous growth between 2000 and 2012 (and, of course, until today), due to the role played by tobacco and tobacco related products in the lives of the consumers worldwide; the tobacco companies become more and more powerful and more and more reach with each year; the lands devoted to growing tobacco are especially found in less developed countries and statistics have shown that a significant number of children are used in the tobacco industry; third of all, this work focuses itself on providing an answer to the following question: “Which are the biggest tobacco companies in the world?” in order to present the world’s tobacco industry leaders, as well as the latest trends and future predictions concerning this strong and competitive industry; and fourth of all, this research paper intends to provide an answer to the following question: “What are the latest tobacco market trends and hidden opportunities in Romania?” in order to show the latest tobacco market trends and hidden opportunities in Romania.
Keywords: tobacco market, tobacco companies’ worldwide, growing tobacco, tobacco related products, enterprise value, nicotine and tar addiction, market trends, market share, product revenue, profit, brand, hidden opportunities, sustainable economic growth, waste, Romania’s situation.
JEL Classification: D40, L66, Q18, P45, I00, O00

Introduction. Anywhere in the world and in any market, the firms are facing more and more a major challenge to meet growing customer demand towards addressing specific business or operational needs of their customers. In a globalization era, a firm’s customers are more oriented on how to create value for their own customers and such they are looking for an approach shift from their providers. Nowadays, the customers are expecting from their providers to better understand the value creation process in their organization.

Aim of the study. Through knowledge combination, the provider and the customer are acting like partners in the co-production of a customer solution to solve a specific customer business requirement. The expected approach is for the provider to create value not for the customer but together with the customer. Even though a number of driving forces requires the shift of a firm’s focus towards taking the perspective of the customers of that firm, it is not an easy task for any firm no matter the market it is operating in or the geographical area the firm is covering. But this shift could represent one effective and efficient way for the firm to differentiate in the market and to be rewarded with achieving a competitive advantage to be sustained over a longer period of time.
Keywords: value creation, sustainable competitive advantage, customer solutions.
JEL Classification: L10, D40, M10

Introduction. The global economic crisis changed the competition game in any marketplace. Faced with increasing competition, declining margins or decreasing demand due to crisis, the firms are looking for new ways to compete at global level. Considering Peter Drucker’s argument that the reason the firms exist is to satisfy the customer, they are trying to differentiate themselves by moving their focus from simple stand-alone products and/or services and instead developing customer solutions. They are defined in the extant literature as a combination of goods and services designed to satisfy a customer’s business needs and therefore they are difficult to imitate and thus they have the potential to be used as a source of sustainable competitive advantage. Much more, firms are facing a demand change from their customers as a response to address new business requirements imposed by the economic crisis. But the shift towards developing, selling and implementing customer solutions is not an easy journey. The firms have to transform many aspects of their business. The question that arises is what are the major challenges firms are facing in creating effective customer solutions to achieve sustainable competitive advantage and how they could address these challenges.

Aim of the study. The firms have to transform many aspects of their business. The question that arises is what are the major challenges firms are facing in creating effective customer solutions to achieve sustainable competitive advantage and how they could address these challenges.
Keywords: customer solutions, competitive advantage, value co-creation
JEL Classification: L10, D40, M10