GEM Strategy And Co

Decent Essays
2.2.1 INTRODUCTION
There are countless variations of competitive strategies that we find, even within the same industry. This is mainly due to differences in leadership style, in the strategic approaches that companies adopt, and to their own unique circumstances. However, when it gets down to basics, the most important differences between competitive strategies depend on whether a company's market target is broad or narrow, and whether the company is pursuing a strategy based on low costs or on product differentiation (Hough, 2011:148).Crafting a strategy tightly to match a company’s situation involves being alert which strategy alternatives are likely to work well and which are unlikely to work. Specifically one must understand the following;
…show more content…
Examples include Voice over, Internet Protocol (VoIP) telephone communication, online education, organic food product, e-books and electronic banking. As stated in the case study the GEM Strategy and Co. is making an effort to regain and obtain evolving emerging market share, their consultancy is assisting other business in utilizing on line strategy simulation also their industry leaders in innovative product. Base on their competitive advantage and their resources strength the recommended strategy for their growth, is a dual strategy, i.e. combining a strategy for competing in emerging markets and a strategy for industry leaders, and these strategies are discussed below in relations to GEM Strategy and …show more content…
Shift advertising emphasis from creating product awareness to increasing product use and building brand loyalty as the product becomes more familiar.
8. Use price-cuts to attract the neat layer of price-sensitive buyers into the market.
9. Form strategic alliances with key suppliers to enhance the supply chain and increase competitiveness.
This strategy for competing in emerging industries is suitable in assisting Gem Strategy and Co. to capture emerging markets, as it is stated in the study that gaining market share in the emerging markets has proven to be a challenge for the company. Since innovation is one of their competitive advantage they can push to perfect technology and apply all of the above discussed approaches so to gain and retain the market share in the emerging markets, as this is an opportunity which was identified by the company for growth.
2.2.3 STRATEGIES FOR INDUSTRY LEADER
Hough (2011:199) states that Industry Leaders are concerned with defending or extending their leadership positions. There are three contrasting strategic postures that are open to industry leaders as stated by Hough (2011:199-202), which

Related Documents

  • Decent Essays

    Creates opportunity for other initiatives. To continue to effectively service the loan portfolios. This will provide future loans approval to develop and invest in projects. External Environment: SWOT ANALYSIS - THREATS The current business strategy of Grace Kennedy is to evaluate and monitor group performance in order to achieve the strategic goals of the Internal Processes, Financial objectives, Customer satisfaction and Learning and Growth Objectives (GraceKennedy.com, 2014). STRENGTHS SUPPORTING EVIDENCE EFFECTS PLANNED INITIATIVE • Global competition Major competitors may enter the manufacturing industry and targets market segment Increase competition may arise for the market segment's growth.…

    • 994 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    This information will help the managers to understand the increasingly complex market and make strategic decision. Through marketing research Castrol can collect valuable information and set a right price for their products. This will help them to increase their sales. Better Customer Management. The importance of market research is that you can use tools of marketing campaigns (questionnaires, meetings, discussions, messaging) to reach a wide audience of customers, reduce the timeframe within which your product/service reaches the customers, investigate current and future needs and expectations of the customers, and achieve higher customer satisfaction.…

    • 732 Words
    • 3 Pages
    Decent Essays
  • Decent Essays

    Introduction: It is very much essential that an organization is curved by the strategic management plan and process to bring future growth in the business in terms of global market insight and profitability of the specific organization. The systematic and formative analysis of the factors and steps incorporated with the external environment of the organization as well as the internal environment give it a boost to strategize marketing and management plan in easier way. In this case study, the strategic management plan of Mintzberg and Waters evolved out with the insight of specific example and the organization has maintained those process in a dynamic way. Question one Analysis of external environment and its tools and techniques to help the…

    • 1133 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    This operational strategy involves the creation of new goods and services, typically designed due to innovations in technology and based on the tastes and preferences of a businesses identified target market. There are various steps in this process such as; the initial concept idea of a product, a cost-benefit analysis, the creation of the product, and finally, market testing to gain feedback and an understanding if further changes are needed. An innovative product enhances a customer’s perception of the product, vital to success in the contemporary competitive business landscape. The new product would be viewed as a superior product, differentiated from previous models or rival products through its higher quality. This differentiation would promote businesses sales and increase the business market share, in turn, increasing profitability levels.…

    • 1487 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    Analyzing it is important because it allows a firm to make better decisions regarding productivity and creating value towards their products and services. It is the foundation of competition, which leads companies to exceed their competitors. They influence on data driven strategies to help them compete and make innovation possible. An example of Big Data can be gathering data from sensors installed in products to conclude how consumers use them. This creates the incentive to create new services and product designs in the future.…

    • 977 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    All things considered, creating a product that is unique, useful and hard to imitate is the key to a successful product launch and financial turnover to the company. Conducting a marketing test before launching a new product or an improved product into the market allows marketing executives to make accurate predictions of the potential turnover of the product. It also enables the company to identify and fix any product…

    • 847 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    63, Iacobucci), positioning statement is a memorandum of company information needed as a way to fix problems and create new ways to improve segments. Segmentation, targeting, and positioning are very important in the success of marketing management. These aspects, help find your specific segment and target that will be profitable to the company. Positioning will further enhance the company by knowing their strengths and weaknesses, knowing how to improve the company to satisfy their segment, and knowing their competitive advantage to contend with…

    • 810 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Isn 't that what your business is all about - great value and great sales? 4. Enhanced Communication and Influential Innovation - The message communicated to the audience must fit into their conviction. Market research helps all innovative businesses to focus on the target, test concepts and create better opportunities in the market. It also helps in identifying the desires, requirements and needs of the consumers in a better…

    • 749 Words
    • 3 Pages
    Decent Essays
  • Decent Essays

    In order to get maximized profits the difference between the selling and purchase price must be significant. While selling the investments the sales price is valued on the company’s diversification. Therefore, the main reason for investing in startups is to maximize the company’s worth in the investment period. Hence, they also provide businesses with managerial and technical skills, so that they can prosper in their field. Making it capable enough to achieve breakeven point and further to make profits and acquire major market share holding in the…

    • 1306 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    Therefore, the company will have to include a “buy” strategy to its talent strategy. A buy strategy enables Steve’s Soda Co. to recruit the talented individuals who have the knowledge and expertise to facilitate future global operations. However, the company will have to upgrade its current recruiting practices in order find and attract the best external candidates. According to Silzer et al. (2012), “A buy strategy requires companies to have robust talent sourcing,…

    • 836 Words
    • 4 Pages
    Decent Essays