Homework Help
Homework Help
View Details
Assignment Help
Assignment Help
View Details
Online Tutoring
Online Tutoring
View Details
Home » Management Homework Help » Marketing Management Help » Strategy Identification
Strategy Identification
Identify strategic alternatives

The purpose of external and internal analysis is to help generate strategy alternatives to provide the criteria for selecting among them.

Strategies can be generated in many different ways for different companies and essentially depend on three critical key factors

(i) Resources available for investment in growth.

(ii) Skills core competencies and assets which can be leveraged

(iii) “Appetite” for growth

These three factors together determine the first level of strategic alternatives for a firm consider.

1. Intensive growth- growth within the same industry

Organic route- means achieving growth of revenues in existing products and product lines or adding new product lines.

Inorganic route- acquires brands or competitor companies within existing businesses. Jet Airways proposed acquisition of Air Sahara is the inorganic route to strengthening its position in the airline industry.

2. Diversification growth- looks at growth outside the present business/industry.

Companies could consider getting into new businesses or product areas which may be related to or unrelated to present businesses. Company’s choosing to diversify their businesses may adopt the organic route by setting up the business themselves and growing it; or to take the inorganic route of making acquisitions of other companies within the industry they have chosen to diversify into.

3. Intensive growth- through vertical integration

This means performing or having control over the performance of many more activities related to an existing product, in house.

In the petroleum business or having control reliance petroleum is into the refining, marketing and retailing of petroleum products. Getting into oil exploration and drilling as well, makes it only other vertically integrated company (the other being ONGC) in this industry. The other oil majors are into refining, marketing and now retailing.

In the textiles business, Reliance not only manufactures the Polyster Filament Yarn, but also the key raw materials and fabric and retails it through Vimal and Harmony outlets.

Integrative growth is not only aimed at growing the top lines (sales revenues), but growing bottom lines (better margins and profitability) as well.

Companies that have a large “appetite” or ambition for growth, the access to resources fund growth as well as the skills and competencies to manage the growth, will naturally look at all the three growth directions, more conservative organizations that processes the resources and skills but lack may Mao the appetite, may map out a different growth route.

Market penetration

This is the growth strategy where the business focuses on selling more of the existing products into existing markets.

Market penetration sees to achieve four main objectives:

(a) Maintain or increase the market share of current products:

A company can increase it market share by:

(i) Converting prospective non users to users.

(ii) Convert the occasional user to a regular user.

(iii) Induce competitor’s customers to switch by using aggressive pricing communication and sales promotion.

To maintain and increase market share companies need to build a big brand presence, through extensive communication and aggressive distribution.

Services:- Strategy Identification Homework | Strategy Identification Homework Help | Strategy Identification Homework Help Services | Live Strategy Identification Homework Help | Strategy Identification Homework Tutors | Online Strategy Identification Homework Help | Strategy Identification Tutors | Online Strategy Identification Tutors | Strategy Identification Homework Services | Strategy Identification
Submit Your Query ???
Topics
Companys Marketing Efforts Creating Good Products Customer Value Marketing Concepts Marketing Myopia Marketing Misconceptions Understanding Customer Needs Competitors Orientation Competitor Analysis Customer Perspective Competitive Strategies Five Forces Model Generic Competitive Strategies Identifying Competitors Industry Perspective Industry Structural Analysis Marketing Competition New Entrants Threats Consumer As Individual Socio-Cultural Consumers Decision Making Process Motivation Dynamics Consumer Behaviour Learning Involvement Level Perception Personality, Personal Factors Purchase Decision Relationship Marketing Buying Behaviour Type Decisions Types Channel Design Channel Structure Distribution Decision Services Distribution Channels Managing Channel Relationship Marketing Channels Role Advertising Marketing Budgeting Media Characteristics Communication Process Factors Affecting Communication IMC Objectives Internet Integrated Communication Communications Campaign Public Relation Tools Sales Promotion The Media Mix Business Statement Competitive Advantage Corporation Core Competence Market Oriented Strategy Market Product Development Functional Areas Plans Product Price Implementation Strategy Identification SWOT Analysis Contact Method Data Preparation Analysis Data Collection Demand Measurement Market Research Market Research Process Marketing Decision Support Report Preparation Research Approaches Sampling Plan Effective Market Segmentation Demographic Segmentation Market Segmentation Market Segmentation Facts Industry Market Segmentation Market Segmentation Process Market Targeting Sociocultural Segmentation Services Characteristics Services Differentiation Companies Gaps Model Marketing Of Services Managing Product Report Managing Service Quality Firms Marketing Mix Self Service Technologies Positioning Marketing Benefits Positioning Concept Positioning Importance Positioning Strategies Positioning Developing Process Repositioning Distribution Channels Role Price Competitiveness Company Growth Strategy Pricing Game Competitiveness Pricing Process Pricing Tactics Product Line Pricing Price Competition Reaction Adopter Categories Adoption Process Stages Brand Decisions Brand Equity Consumer Adoption Process Product Concepts Product Development PLC Concept PLC Stages Product-Differentiation Tool Product Classification Product Differentiation Product Innovation Product Life Cycle Product Mix Lines Specialty Unsought Goods Innovations Types Cost, Value Pricing Pricing-Cost Impact Price Sensitivity Strategic Pricing Price Value Perceptions Pricing-Maturity Stage Product Lifecycle Pricing-Growth Product Reference Price Switching Cost Business, Marketing Changes Economic Factors Macro Environment Elements Marketing Environment Macro Environmental Changes Macro Environment Forces Natural Environment Factors Political, Legal Factors