My business is called Smart Home Solutions, and basically what my company does i

Question

My business is called Smart Home Solutions, and basically what my company does is bringing cutting edge technology and convenience to the ever-growing home construction and renovation market. Our purpose is to provide products and services that intergrate entertainment, security and everyday activities, in effort to combine and simplify the execution of these events by allowing mobile, voice and gesture commands to control them all. So that being said:

-Basic Strategy Approach. How will or does the firm approach competition? If an existing firm how well does its current strategy fit the market in which it competes? Should it change strategy? If a new firm, what strategy do you recommend and why?

Explanation / Answer

While our firm approach competition with other firms it was important to maintain the standards of gour good or service provided.Our product should serve the benifit to the customers that which makes the loyal customers.By changing trend day to day our product must be manufactured.Should target the customers that who buys our product so that according to that survey marketing must be done.Marketing must directly triger the customers that who wants your product more.By giving the good differentition of products between the other competitors our firm will approach the competition.

During the begining of the firm,firm fix the strategy and make many efforts to acheive it.During the planning it self firm management had a thinking about the future and they analyse what were the changes can be observed.This analysis needs the critical thinking and an expert should only can do these process.So that our strategy will be designed according to the present trend that which market was.So that it can easily approach the competitors.If the current strategy was not suitable to the present market it should definetly change the strategy because otherwise our firm leads to the loss and non profit.To approach the market it was important to change its strategy.

As it was the new firm while developing the strategy it should focus on present future market.Foe example if the firm manufacture any product which had good approach of customers in the market at present there will be profits but when the days are going there will be decrease in the sales there will be more loss.So that to avoid these distractions while the firm was new it needs to have the strategy it should suit to the present but also the future that which will give more profits.Should also have an good marketing strategy because marketing was an important tool to pronote our firm.Strategy must be trendy in any period as it was present or future.

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