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
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