Competitive Market Portfolio
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You, Mike, and Tiffany meet in a conference room to begin to assemble your final presentation.
Mike begins, "I think we've done some pretty good analysis on our strategy. We just have to put the pieces together before the final presentation."
"We do have some solid information, but we have to look at all the parts to see if we can remain competitive," Tiffany adds.
Complete the following:
- What are the considerations that you need to be aware of to remain competitive?
- Based on the research that you have done, can you compete in the market that you have chosen?
Why or why not?
- What primary factors led you to this decision?
- What would you say to someone who would dispute your position?
- How do you plan on evaluating the global marketplace in the future?
Compose, prepare and recommend strategies to achieve and sustain a competitive market profile.
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Solution Summary
Competitive market portfolios are examined. The considerations required to remain competitive are determined.
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Introduction
Competitive advantage can be achieved, by providing the innovative products and services to the customers in market. In this report, considerations to remain competitive in the marketplace have been analyzed. In addition to this, overall competition in US market and primary factors for making the decision has been discussed in this chapter. Along with this, strategies for the rivalry firms and future planning to remain competitive in the market global marketplace have been analyzed.
Considerations to remain Competitive
In today's competitive industry, various companies find different ways in order to remain competitive in the market. It has been analyzed that companies can remain competitive with the use of well-planned strategies. In order to remain competitive, organization should analyze the overall market situation and events that has been taken place in the external environment. Competitive position can be achieved through the strategic planning, pricing, first to market and personnel (Pearl, 2011). Through the strategic planning, organizations can be able to form various policies and strategies in order to produce innovative products and services in the market. It has been analyzed that innovative products and services will be helpful achieving the competitive advantage in the market.
Further, newly establish manufacturer of custom furniture should analyze the strategies of Pacific Hospitality Design and Anees Upholstery. It will be helpful in manufacturing the innovative furniture for the customers in US market. With the help of analyzing the strength, weakness, opportunities and threats for the competing firms will be helpful in remaining competitive in the market structure. It has been identified that competition is less in custom furniture manufacturing, which in turn helpful in achieving competitive advantage (Keillor, 2011).
Competition in Market
On the basis of ...
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