Our Form 5 business students visited Pandamart's headquarters on May 2, 2023. The visit provided a valuable opportunity to explore essential business concepts in a real-world setting.
During the visit, our students observed how Pandamart applies economic principles such as:
ʕ´•ᴥ•`ʔ Supply and Demand: Pandamart balances its product supply with customer demand to ensure customer satisfaction and maximize profits.
ʕ´•ᴥ•`ʔ Elasticity: Knowing how price changes affect product demand, Pandamart can design its prices and promotions to achieve optimal profits.
ʕ´•ᴥ•`ʔ Economies of scale: As Pandamart grows, it lowers its costs by increasing production or expanding its delivery network, leading to potential savings for customers or reinvestment in the business.
ʕ´•ᴥ•`ʔ Market structures: Pandamart competes with other online food delivery services and therefore focuses on unique offers, faster deliveries or excellent customer service to differentiate itself.
The visit to Pandamart allowed our students to better understand business concepts and how they apply them to real business situations. We are grateful to Pandamart for this enriching opportunity and believe that the knowledge and skills acquired will benefit our students in their future careers and society.