Attached are samples of six core strategies (also downloaded below).
1. Give advice to each with regard to their core strategy.
2. Does each of the strategy make sense?
3. Do you understand all of the strategies?
4. Do have any suggestions for revision in each strategy?
SAMPLE CORE STRATEGIES:
Core Strategy #1:
The Value Proposition
The small contractor, who wants to increase their bottom line and reduce their time expended in the office, will find that this service will be tailored to their individual needs instead of working with a larger company who will attempt to sell them a one size fits all program.
The Product Positioning or Competitive Advantage
We will develop the service plan based on the requirements of the individual contractor. This individual plan will be one that is cost effect and include only the items required while allowing for change. The client will be shown how they might be able to utilize this service with out increasing their current costs. As we speak their "language" and are willing to conduct business in a traditional office, on the job site, at their home, or the local café a feeling of mutual trust can be formed.
Core Strategy #2
"For people who enjoy convenience without sacrificing quality, Bon Fire Saloon has blazed the trail in pioneering a variety of premixed alcoholic beverages with amazing taste and an unprecedented convenience. Sit, stand, or shake a leg...the good times are on us." The value proposition addresses the key demographic without being too constricting. Here, the value proposition says "your living the fast-paced life" but won't compromise that for what you like. It also says, whether you're relaxing (sitting), entertaining (standing) or getting entertained (shaking a leg) you can't go wrong with Bon Fire Saloon.
The products current position is unique, in that it is the first of its kind to offer this combination of value and convenience. It's differential advantage over perceived competitors, like Franzea Wine and Friday's pre-mixes are very distinguished. Franzea specializes in wines whereas Bon Fire Saloon specializes in mixed drinks. The association between the two isn't adverse in that the packaging is similar but the difference is paramount. If nothing else, the association will boost the reputation of Bon Fire Saloon products like a vehicle brand having On Star. Friday's premixes focus on margaritas and other frozen drinks, like Mud Slides and Dream-Cicles. The quality, convenience and quantity are significantly less to Bon Fire Saloon, differentiating the two brands. In addition, the advertising will basically unfold examples of "how to" use the product! Scenarios depicting, all within their own commercial, relaxing after a long day at the office, sitting by the fire, either outside or inside depending on the season, standing or entertaining guests at home, with the same fire side theme and finally, shaking a leg, that is having a party per se with a nice Bon Fire in the background.
Core Strategy #3
Tiny Tech, unlike other technology companies, offers a combination of extraordinary convenience, quality, great pricing, and an array of products never yet developed by anyone else.
Our winning strategy focuses on providing a creative, quality program and management plan that will focus on driving customer satisfaction, through a balance of solid investment, innovative solutions, and technological advancement that will create exceptional value. We will deliver this as follows (Winer, 2005):
1. Enhanced program accessibility and quality: Tiny Tech's latest creation, Simple Talk, will be offered via Internet and retail outlets across the United States. This will allow everyone an opportunity to have access to the product, thus increasing potential sales. Proposed programming initiatives, promotional plans and IT innovations will appeal to the customer's desire to 1) purchase quality products, 2) be a part of a new age of technology and, 3) communicate with their children at a very young age (Winer, 2005).
2. Partnership Commitment: Through an overall commitment to our people the management staff at Tiny Tech are determined to articulate the value of its employees through a safe and productive work environment which promotes career development (Winer, 2005).
3. Neutralize presence of competitors: While Tiny Tech is a world leader in technological solutions, we will maintain our competitive edge through more technological advancement, leaving the competition behind (Winer, 2005).
Tiny Tech's Differential Advantage will be articulated as our unique ability to know, understand and act on the needs of our customers. Tiny Tech has now added a second product to its long line of creations that has yet to be duplicated by a competitor. We have and will continue to apply the industry-leading instruments that we have developed to learn about technology as it relates to human needs. We are prepared to continue to lead the world as the largest technology company into a new era of technology by deliver excellence while providing access to the unbelievable.
Core Strategy #4
EcoFootprint's Core Strategy
Dedicated to environmentally conscious individuals and businesses, EcoFootprints unlike our fellow CO2 offsetting competitors, offers superior value, creative solutions, and personalized service.
In EcoFootprints efforts for a competitive advantage, our primary aim is towards quality based differentiation. Quality based differentiation is a competitive advantage that utilizes a higher cost approach to produce a product or service of a higher value to consumers (Winer, 2004). Such differentiation should not only allow us to stand apart from our competitors in terms of the value of our services, but should also afford us higher profit margins through our price premiums. According to various studies on competitive advantage, quality based differentiation has shown an advantage to other types of competitive advantages such as brand and price based (Chiarlone, 2000; Hu & Ma, 1999; Aturupane et al., 1997).
To further underscore EcoFootprint's dedication to quality, we are expanding our quality based differentiation to not only our services we provide, but to our sales force as well. As mentioned before in our 2006 objectives, our mission to expand our sales force to our external sales partners will serve to foster a better relationship with our customers by more effectively meeting their needs. EcoFootprints firmly believes that with the increase the quality of our sales team over that of our competitors that we will be effectively positioned to better reach our target customers.
As EcoFootprints is a relatively new company in a relatively new industry, we feel that should further differentiate ourselves from our competitors through the use of brand based differentiation. While this remains a secondary target for us in the near term, we are heavily pushing our EcoFootprint® environmental certification to build upon our brand name. We feel that as more customers utilize our service, and advertise their own EcoFootprint® certification; our brand equity, or our perceived quality, will greatly increase (Winer, 2004).
Core Strategy #5
American Ballistic Products for women on the force, Inc, can't be compared to any other bullet proof vest company, our company is the only manufacture of a women's vest. Furthermore we are obligated to producing police officers extraordinary women vest that meets law enforcement standards, competitive pricing, and a style that fits to a women's cup size. Our gung ho and astonishing strategy is to provide a quality vest that built on faith, and in the line of duty, this vest will save your life. Our organization focus is to develop and produce a long lasting product that our customers will be pleased with and is recognized for a successful Web- based business that has a strong value, and very sound proposition. (Winer, 2005)
The core strategy: Value Proposition
One of the basic principles of a core strategy is the value proposition. (Winer,2005)
American Ballistic products for women on the force will be sold via Internet, on EBay, overstock.com, and police and law enforcement stores and globally to ensure that across the world our product is well branded. Our brand's value proposition can be stated as follows:
For women in law enforcement our women's vest our like non other, unlike Xtreme vest our vest fits like a glove, is measured to fit the person cup size, and host ballistic plates , trauma pads that saves lives. Our projected propaganda will allow our company to forecast possible sales and will help increase customer satisfaction, customer retention, and an achievable advertise product, attract new customers, sales and marketing through internet, develop high quality women's vest, exporting and importing our vest through foreign ventures.
Our product positioning is the bullet proof vest that is developed in America and in Europe, in addition the particular vest is measured to fit to the person's cup size. Furthermore this special made vest will have two ballistic plates in the front and two trauma pads in the back. Ballistic is a bullet proof sheet insert that has back and front pockets, which provide protection against bullets, are any type of metal and our competitors don't make bullet proof vest like ours. This vest will save your life and we sell it at a moderate price
As American Ballistic Products for women on the force, Inc this is a new corporation and we feel that our corporation should make a distinction from our competitors through the use of a name based differentiation. Although this remains an objective for us in the near future, we are seriously selling name American Ballistic Products for women on the force, Inc to build upon our trade company's name. We believe that as more customers make use of our product, this will allow American Ballistic Products for women on the force, Inc; to develop our brand equity and our apparent quality will seriously enhance (Winer, 2004).
Core Strategy #6
In developing the core strategy (comprised of both the value proposition and product position) for NoInk, Inc, we asked the five important questions of marketing:
1. Who are the current and potential customers for a product or service?- Customers with tattoos or customers seeking to get a tattoo however are afraid of the permanency of the tattoo. Tattoo wearers vary greatly, and research has shown no clear indicators identifying a specific target for tattoo wearers such as age, gender, race, and social backgrounds. Research has shown we should not target highly educated post graduate students or consumers over age 60, as there is relatively low tattoo consumerism among this group. (Gardyn, 2001)
2. Why do they buy?- Customers buy tattoo removal processes out of regret or dissatisfaction over the tattoo. The biggest complaint among tattooees, according to the Food and Drug Administration, is dissatisfaction.
3. How do they make their purchasing decision?- Consumers today have only 2 choices on the market for tattoo removal. They can purchase make-up to cover the tattoo, or painful and expensive laser treatments.
4. Where do they buy the product or service? What channels of distribution are used?- Retail stores carry tattoo cover up products, and dermatologists provide laser treatments.
5. When do they buy?- Life events such as divorce, love, or career change influence the need for a tattoo removal product. Other influences are dissatisfaction over time, change in fashions and trends, and social pressures. "Ever since tattoos became trendy and popular--and more people are getting them without understanding the long-term repercussions--we've been receiving calls from people asking how to cover tattoos," says Patricia Saito-Lewe, vice president of sales and marketing for Ben Nye Makeup, a professional and theatrical makeup manufacturer. (Won Tesoriero, 2003)
By answering these questions, NoInk, Inc. was able to identify our customer target, and our competitor target. The identification of these targets assisted in the development of our value proposition that would differentiate our product from others and communicate best with our target audience.
Our product is new; therefore we do not have brand equity in the form of brand loyalty, brand awareness, perceived quality, favorable brand associations, or other brand assets. This means our introduction product launch and positioning is very important, as we are creating brand identity and setting the stage for future product recognition and brand reputation. Testing has shown that our product is safe, good, of high quality, reliable, priced right, and has a true perceived value to our target market; however making sure consumers have heard of our product is one of our top priorities. Consumers will not purchase a product if they have not heard of it. (Winer, 2004)
NoInk Inc.'s Core Strategy:
For anyone that has a tattoo they want removed, NoInk, Inc. is a manufacturing company that has developed the first FDA approved non evasive tattoo removal product that you can apply in the privacy of your own home. In 30 days, your tattoo will disappear from your skin as easily as removing a Band-Aid. Say goodbye to messy, temporary tattoo cover-up products. Don't worry about painful lasers that leave scarring. Our tattoo removal product is the only product on the market today that guarantees to remove tattoos safely, discreetly, and conveniently without pain or scarring. NoInk tattoo removal can be purchased at a store or dermatologist office near you.© BrainMass Inc. brainmass.com June 3, 2020, 6:48 pm ad1c9bdddf
Referring to each core strategy, this solution discusses each strategy by responding to the questions e.g. does each of the strategy make sense, are the strategies understandable and are there any suggestions for revision in each strategy.