Strategic Mareting Management Questions: 1. Does a company always have to keep t

Question

Strategic Mareting Management Questions:

1. Does a company always have to keep the competition in mind when when planning for the future? Can you think of any company that just forges full steam ahead without a thought as to what other companies are doing....and they are very successful? How do they do that? What's their secret weapon?

2. By and large, most companies are not in a position to forget about the competition as we discussed in the previous topic. Most companies find success when they find and keep a competitive advantage, Here's a link Competitive Advantage https://www.tutor2u.net/business/reference/competitive-advantage

For this topic, list a company that you believe has a competitive advantage in one of these categories and explain your reasoning.

For example, with its everyday low price strategy, Walmart has a cost leadership competitive advantage. It maintains this leadership position because it has the buying power with its suppliers to demand the lowest cost for its inventory, which it passes on to its customers its the form of lowest prices.

3.The individual writing assignment tasks you to find direct competitors in a product category. Let's be sure you understand what direct competitors are and how they differ from indirect competitors. Again, you may have to refer to some of the reading resources to understand the difference between direct and indirect competition. Here's a hint: McDonald's and Burger King are direct competitors. Taco Bell is an indirect competitor to both of them.  

Give me one product category and identify at least one direct competitor and one indirect competitor. Be sure you don't repeat what another classmate has already posted. And, just in case you disagree with someone's posting, be sure to give us your take, thoughtfully and supported with evidence. You can also enhance someone's post; maybe you can think of other direct and indirect competitors in the same product category.

Explanation / Answer

1. The company that is not worried about the competition in the market is Mondelez International. Mondelez is popular in the Indian market with the name Cadbury Dairy Milk and they have a monopoly in the market. The company grew from 33.6% market share in 2014 to 43% in 2016 without any new products. The competitors like Nestle and Ferrero India released a lot of new products. It made no difference to the business of Mondelez because of the market knowledge they have.

The company is not worried because they have studied the Indian market and the Indian mentality very well. They are the experts in product innovation and they prove that every time they release a new product on the market. They know how to attract the customers with their marketing approach as well. They basically keep the strategy simple without trying too many things at the same time. They will segment the market better, create an excellent product, and market them effectively.

2. Amazon is one company that is very much worried about the competition in the Indian market. The rial Flipkart has the maximum market share in the market as they have acquired a lot of small e-commerce companies. Amazon is no doubt touch competition to Flipkart and the loyal customers of Flipkart are moving to Amazon for their shopping needs. The competitive advantage that Amazon has over the rival is the cost leadership. The products sold on Amazon are at least 4 to 12% cheaper than the products sold on Flipkart. The product quality on Amazon is excellent and the rival kees getting customer complaints regarding the quality. The delivery is free on Amazon and Flipkart charges for the delivery. The customer will save more money when he shops on Amazon and this is their competitive advantage.

3. The direct competitor of Nike in the footwear and apparel industry is Adidas. The indirect competitor of Nike is Decathlon. The Nike and Adidas are mainly known for their coll image and great designs but at the end of the day, they are manufacturing shoes and apparel for the general public as well as athletes. These two are very premium brands and are used only by the upper segment of the market. Decathlon, on the other hand, is known for manufacturing good quality and affordable footwear and apparel for once again the general public and the athletes. Decathlon also manufactures the goods and equipment related to different sports as well. They differ from Nike and Adidas in this aspect and their main target is the middle segment of the market. They are also trying manufacture top end products and attract the upper segment of the market trying to compete with those two brands indirectly.

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