Discussion Question (250 words each)
1. Explain the following competitive strategies and use at least two corporate examples: Focus on market niche, low-cost leadership, product differentiation, customer-supplier intimacy.
2. What is the role of strategic planning in creating value for an organization? Provide an example of how a company uses strategic planning to create value for an organization.
3. How do metrics allow us to track the progress of implementation of the strategy? How is environmental scanning helpful in choosing the appropriate metric guidelines to use? Use examples© BrainMass Inc. brainmass.com October 17, 2018, 10:03 am ad1c9bdddf
The market niche strategy is a strategy in which an organization focuses on a specific segment of the target market and pursues efforts to satisfy the unique needs and preferences of that particular market segment. Examples of niche market strategy would include hybrid automobiles such as Toyota Prius or luxury brands such as Rolls Royce. These products focus on a very niche and small segment of the total automobile market. Toyota Prius is focused on consumers who are passionate about environment whereas Rolls Royce only focuses on the super premium segment.
Low-cost leadership is a strategy in which an organization aims to achieve market leadership on the basis of pricing of its products or services. The company positions itself as the lowest cost provider of goods or services in the marketplace. Examples include Walmart or Costco which are considered low cost provider of retail products. These companies focus on a large market and aim to earn profit via economies of scale and higher sales volume.
Product differentiation is a strategy pursued by companies in which the companies try to differentiate their offering in the marketplace or establish a unique positioning for themselves via ...
Discusses questions related to competitive strategies, role of strategic planning
Marketing discussion questions
1. Most discussions of marketing strategy focus on large businesses like Procter & Gamble. Is it practical for small businesses to develop offensive strategic market plans or defensive strategic market plans? Why? What role could offensive and defensive strategic market plans play in the short- and long-run performance of a small business? Should small businesses balance of offensive and defensive plans? Why?
2. Tactical marketing plans are the Ý|uts & bolts?action steps used to achieve the strategic market planning process. Should the manager develop the marketing budget based on the tactical marketing plan or the strategic market plan? (Let the debate begin!) How would the tactical marketing plan and marketing budget for a strategic market plan to grow market share (offensive) differ from those of an optimize position strategic market plan to reduce share?
3. How does a business create a forecast of its future performance based on the strategic market plans for each product-market it intends to serve over a given planning horizon? Will this process vary if the product is a service or a good? Do you really think most companies forecast their performance in an orderly, structured manner?
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