Competitive Analysis Essay This paper analyzes the competitive position of the beauty-retail chain of shops called Sephora. This paper looks at the competitive profile of two cosmetics companies — Ulta and The Body Shop. Although the three companies have distinct approaches, they aim the same market and compete for consumers.
During the annual planning process, the business owner and her management team develop marketing plans to maximize the revenues that result from this advantage.
Long-term success in business requires building a sustainable competitive advantage -- one that endures despite new competitors entering the market or existing competitors improving their own products or services. An objective of his marketing plan is to identify the customer groups that can benefit the most from the products and services he offers.
These are the individuals most likely to become his customers. The marketing planning process helps narrow the target customers to those most likely to buy. Companies particularly adept at marketing planning develop a capacity to spot these emerging markets, which occur as a result of factors like population shifts, changes in consumer taste or technological innovations that could be turned into new products.
Effective marketing planning requires the ability to select the potentially most profitable opportunities among the many opportunities available. Expand Distribution Channels A small business can increase the odds of making a sale to target customers by increasing the opportunities for the customer to see the product.
This means adding distribution channels. A southwestern barbecue restaurant, for example, could add a food truck that rotates locations around the city. The company might also leverage its brand by creating a line of frozen barbecue entrees that are distributed through specialty grocery stores.
When preparing the marketing plan, the business owner identifies all the possible distribution channels the company could use and the market potential of each one. Having your products more widely available is a powerful way to build your brand awareness -- a key component of competitive advantage.
Emphasize Customer Service Owners should include strategies for raising customer service levels. Keeping a customer satisfied produces both repeat business from that customer and the opportunity to send word-of-mouth endorsements to other potential customers.
Turning customer service into a competitive advantage is accomplished through such tactics as addressing their concerns promptly, having a person available to speak with them, and taking the time to get to know customers as individuals and finding out how the company can improve its product or service offering.Amazon competitive advantage essays Essay writing tips ‘ Allows the flexibility to target market segmentation: This is done by allowing companies to focus on a select group of clients with a competitive advantage by giving them what they want and the satisfaction of unique needs.
Competitive Advantage Essay by Mashell Chapeyama University of the People Competitive advantages of Chipinge Banana Company A competitive advantage refers to any asset or capabilities that a company has that gives value to it or its products and services, which competitors do not have.
Personal Strategy for Competitive Advantage. Then, eliminate the metrics that don’t concern you or on which you are weak and see no low-cost way of improving. ardatayazilim.com to create competitive advantage.
and so forth. like low-cost strategy and redesign of the value chain.
that may be just one way such as low-cost-strategy. Buy Cheap Marketing Strategies and Competitive Advantages of Fast Food Essay Abstract This dissertation concentrates on market segmentation and market product positioning under market strategies and competitive advantages for UK.
IKEA’s key competitive advantages ‘Strategy is the outcome of a formal strategic planning process from top management.
Therefore, it has limited value in providing the organisation with a competitive advantage.’.