Introduction:
Gold Corp used to be one of Canada’s best mining companies, but their 2011 downfall turned everything around. Read my repot to find out how Goldcorp started as a successful company but slowly made its way down. Goldcorp is a mining company that mines for gold, silver and other minerals. The company was founded in 1954 by Rob McEwen. They are headquartered in Vancouver and have production plants all over the world. Goldcorp’s vision is to together create sustainable value and work together as a team to achieve goals.
Problem:
The main problem the company is facing is the decrease in the price of Gold which is the main contributor to the company's profit. In 2011 their sales decreased by 9% and only increased by 8%, causing a
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The pros to this would be that the low cost will give them more sales, it will allow a greater consumer margin and _______. The cons of this will be that the production can cost a lot of money, the amount being made from every sale might not balance what needs to be paid to venders and with the lower sales they will make less profit then before. The 2nd solution would be to create new markets to increase demand. The pros to this would be that the new markets will cause more awareness about Goldcorp, it will bring up their sales and help their company grow. The cons to this would be that a new market would cost a lot of money because of all the new equipment, gold and other minerals may not always be at reach and you might not gain customer trust with a new market. Last but not least, the 3rd solution is to advertise Goldcorp. The pros to this is that it will give the company more recondition which will give them more sales, increase customers and help the company grow. The cons to this would be that the advertising will cost lots of money, some people get annoyed of internet ads which can cause customers to ignore them and your marketing materials are available to anyone in the world to copy. (Add a conclusion