Competitive Strategy
Indubitably, constructing a clear and concise strategy is crucial to the success of an organization and key to gaining the competitive advantage over the competitors. Knowledge of what the rivals are offering and what the consumers consider a value is critical. Therefore, management must have a solid stratagem in order to compete successfully. In addition, the organization must design a competitive strategy that is specific to meet their organizational goals and will give them the competitive edge in the marketplace. Competitive strategies are unique to each organization and should include a competitive strategy type, knowing the type of strategy the competitors are using, formulating an offensive or defensive strategy, …show more content…
Absolutely, understanding the competitive behavior of one’s competition is essential to the endurance of an organization (Tansey, Spillane & Meng, 2014). In the competitive market, all organizations are subject to offensive challenges from the competition (Bethel University, 2017). Jones Plastic and Engineering provides the best value to our customers. However, when a competitor lowers their prices to steal our customers away, the organization will lower our prices to get those customers back. This simple strategy can be effective as long as the price war does not get out of hand (Varghese, 2014). Staggeringly, customers that leave Jones Plastic and Engineering typically return when our competitors do not meet their expectations. Jones Plastic and Engineering’s ability to design products, decorating products and do on-site assembly sets us apart from the competition. Nevertheless, competitors still promise the customers that they can deliver the same service and customers will leave, but having the defensive mechanisms in place such as adding features via ultra-sonic welding or in-mold labeling are a positive and appealing way of countering a competitive challenge and assists the organization in gaining those customers back (Varghese, …show more content…
Jones Plastic and Engineering utilizes the best-cost provider strategy to gain the competitive edge in the injection molding industry. The organization provides customers with the best value for their money, striving to exceed the customers’ expectations with the lowest cost on the market. Remarkably, knowing what type of strategy the competitors are utilizing is a valuable piece of knowledge that assists in the countermeasures the organization uses to keep their customers or to get them back. When a customer lowers their prices to entice a customer to leave our organization, Jones Plastic and Engineering will counter by matching the price of the competitor. Additionally, when competitors try to take our customers, Jones Plastics and Engineering will offer added features such as ultra-sonic welding and in-mold labeling which are positive and appealing ways to counter our competitors’ efforts to win over our customers. Additionally, being open to expanding Jones Plastic and Engineering is vital for continuous growth by either acquisition or
Indubitably, constructing a clear and concise strategy is crucial to the success of an organization and key to gaining the competitive advantage over the competitors. Knowledge of what the rivals are offering and what the consumers consider a value is critical. Therefore, management must have a solid stratagem in order to compete successfully. In addition, the organization must design a competitive strategy that is specific to meet their organizational goals and will give them the competitive edge in the marketplace. Competitive strategies are unique to each organization and should include a competitive strategy type, knowing the type of strategy the competitors are using, formulating an offensive or defensive strategy, …show more content…
Absolutely, understanding the competitive behavior of one’s competition is essential to the endurance of an organization (Tansey, Spillane & Meng, 2014). In the competitive market, all organizations are subject to offensive challenges from the competition (Bethel University, 2017). Jones Plastic and Engineering provides the best value to our customers. However, when a competitor lowers their prices to steal our customers away, the organization will lower our prices to get those customers back. This simple strategy can be effective as long as the price war does not get out of hand (Varghese, 2014). Staggeringly, customers that leave Jones Plastic and Engineering typically return when our competitors do not meet their expectations. Jones Plastic and Engineering’s ability to design products, decorating products and do on-site assembly sets us apart from the competition. Nevertheless, competitors still promise the customers that they can deliver the same service and customers will leave, but having the defensive mechanisms in place such as adding features via ultra-sonic welding or in-mold labeling are a positive and appealing way of countering a competitive challenge and assists the organization in gaining those customers back (Varghese, …show more content…
Jones Plastic and Engineering utilizes the best-cost provider strategy to gain the competitive edge in the injection molding industry. The organization provides customers with the best value for their money, striving to exceed the customers’ expectations with the lowest cost on the market. Remarkably, knowing what type of strategy the competitors are utilizing is a valuable piece of knowledge that assists in the countermeasures the organization uses to keep their customers or to get them back. When a customer lowers their prices to entice a customer to leave our organization, Jones Plastic and Engineering will counter by matching the price of the competitor. Additionally, when competitors try to take our customers, Jones Plastics and Engineering will offer added features such as ultra-sonic welding and in-mold labeling which are positive and appealing ways to counter our competitors’ efforts to win over our customers. Additionally, being open to expanding Jones Plastic and Engineering is vital for continuous growth by either acquisition or