Question
While looking at the traits of the companies, which competitive strategies do you suggest for firms to adopt? Give logical arguments and describe the possible positive outcomes of using those particular strategies? (20 marks)
Friday, 3 May 2013
MKT501 Marketing Management Assignment 1 idea Solution Spring May 2013
Increasing competition at market
place and the impact of globalization has made the lives of firms
difficult. To do something better has become the necessity for
organizations to stay competitive. Star Textile is an organization,
striving to win the competitive position at
market place. Firm is having strong creativity and marketing skills,
and has also been ranked in top 5 on the basis of R & D in Textile industry. The competitor of Star Textile working in the same industry, named as Acro Textile Mill, is also struggling to maintain its position
in the market and wants to sustain competitive edge through
core competency. Firm is having cost control & close supervision
towards labors. Firm also takes advantage of economies of scale. Firm
has maintained its position to make high volume of standardized products in the target market.
Another competitor is Zia textile which makes a specific product. It
makes uniforms for hockey and cricket team. Firm has a competitive edge
in the local market. But due to a new entrance in the market, the firm may face threat. As the firm knows the target market and its needs, so the cost can be minimized in terms of advertisement, research & development and personal selling.
Question
While looking at the traits of the companies, which competitive strategies do you suggest for firms to adopt? Give logical arguments and describe the possible positive outcomes of using those particular strategies? (20 marks)
Question
While looking at the traits of the companies, which competitive strategies do you suggest for firms to adopt? Give logical arguments and describe the possible positive outcomes of using those particular strategies? (20 marks)
