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Is it possible for a company to pursue both strategies and be 'struck in the middle'?
Wiki User
∙ 10y ago
It is possible to pursue both strategies and be "stuck in the middle". Strategies often play out in different ways. Sometimes you need to weight the positive and negatives in both to determine the best solution.
Wiki User
∙ 10y ago
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Why should study marketing?
It is important for one to study marketing if they intend to pursue that path of career. This will give the person a general idea of the various techniques, strategies and trends in marketing among others.
Promoting orange juice not just for breakfast anymore the Florida Orange Growers Association attempted to slimulate?
Assuming the word is "stimulate"...this is a simple example of a market penetration strategy. More specifically, it is a promotional effort with the goal of selling more of an existing product to a current customer. It differs from other strategies since it doesn't require the creation of a new product nor an effort to reach a new group of customers. Market penetration strategies are particularly attractive for a group like the FOGA since it is a consortium unable to create a new product - they are all growers. Market penetration strategies are also cheap opportunities to pursue since they use a product you already make and are designed to reach customers already buying the product. Interestingly, when thinking about opportunities to pursue and the costs involved in each, many companies mistakingly think first about creating new products and/or pursuing new markets BEFORE they have maximized opportunities to sell a current product to a current customer.
What are some other market strategies a company might pursue?
It really depends on your goals and audience. Lets start with goals. Are your trying to drive foot traffic to your brick and mortar? Are you trying to drive traffic to your website, or social pages. Are you a 501C 3 and want to promote your non-profit and stimulate your donator base? Once you've identified your goal we need to identify where is the best place to reach this audience. Another factor to consider when determining this audience is your geographic limitations. Once you identify these key elements, set realistic expectations and budget your advertising can work as intended.
Necessary to do a swot analysis?
why it is nessary to do swot analysis for any business before going to stretagy A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as strengths (S) or weaknesses (W), and those external to the firm can be classified as opportunities (O) or threats (T). Environmental analysis identifies opportunities and threats.And Organisational analysis identifies strengths and weaknesses.Altogether they are commonly is referred to as a SWOT analysis. SWOT analysis means analysing strengths, weaknesses, opportunities and threats. The SWOT analysis provides information that is helpful in matching the firm's resources and capabilities to the competitive environment in which it operates. It is a useful strategic planning tool. It is based on the assumption that if managers carefully review internal strengths and weaknesses and external threat and opportunities, a useful strategy for ensuring organisational success can be formulated. As such, it is instrumental in strategy formulation and selection. Strength. A firm's strengths are its resources and capabilities that can be used as a basis for developing a competitive advantage. It is an important organisational resource which enhances a company, competitive position. Some of the internal strengths of an organisation are: -Distinctive competence in key areas -Manufacturing efficiency like exclusive access to high grade natural resources -Skilled workforce -Adequate financial resources -Superior image and reputation such as strong brand names -Economies of scale -Superior technological skills -Insulation from strong competitive pressures -Product or service differentiation -Proprietary technology such as patents and resultant cost advantages from proprietary know-how -favorable access to distribution networks Weaknesses A "weakness"is a condition or a characteristic which puts the company at disadvantage. The absence of certain strengths may be viewed as a weakness. Weaknesses make the organisation vulnerable to competitive pressures. Weaknesses require a close scrutiny because some of them can prove to be fatal. Some of the weaknesses to be reviewed are: · No clear strategic direction · Outdated facilities · Lack of innovation is Complacency lack of patent protection · Poor research and developmental programmes · Lack of management vision, depth and skills · Inability to raise capital · Weaker distribution network · Obsolete technology · Low employee morale · Poor track record in implementing strategy · Too narrow a product line · Poor market image · Higher overall unit costs relative to competition. * a weak brand name * poor reputation among customers * high cost structure * lack of access to the best natural resources * lack of access to key distribution channels Opportunities The external environmental analysis may reveal certain new opportunities for profit and growth. An "opportunity" is considered as a favourable circumstance which can be utilised for beneficial purposes. it is offered by outside environment and the management can decide as to how to make the best use of it. Such an opportunity may be the result of a favourable change in any one or more of the elements that constitute the external environment. It may also be created by a proactive approach by the management in moulding the environment to its own benefit. Some of the opportunities are: · Strong economy · Possible new markets and an unfulfilled customer need · Emerging new technologies · Complacency among competing organisations · Vertical or horizontal integration · Expansion of product line to meet broader range of customer needs · removal of international trade barriers . loosening of regulations Threats Changes in the external environmental also may present threats to the firm. Management should anticipate such possible threats and prepare its strategies in such a manner that any such threat is neutralised. Some examples of such threats include: . shifts in consumer tastes away from the firm's products . emergence of substitute products . new regulations . increased trade barriers · Entry of lower cost foreign competitors Cheaper technology adopted by rivals · Rising sales of substitute products · Shortages of resources · Changing buyer needs and preferences · Recession in economy · Adverse shifts in trade policies of foreign governments · Adverse demographic changes The SWOT Matrix A firm need not necessarily pursue the more lucrative opportunities. Rather, it may have a better chance at developing a competitive advantage by identifying a fit between the firm's strengths and upcoming opportunities. In some cases, the firm can overcome a weakness in order to prepare itself to pursue a compelling opportunity. SWOT analysis involves evaluating a company's internal environment in terms Of strengths and weaknesses and the external environment in terms of opportunities and threats and formulating strategies that take advantage of all these factors. To develop strategies that take into account the SWOT profile, a matrix of these factors can be constructed. The SWOT matrix (also known as a TOWS Matrix) is shown below: SWOT / TOWS Matrix Strengths WeaknessesOpportunities S-O strategies W-O strategiesThreats S-T strategies W-T strategies · S-O strategiespursue opportunities that are a good fit to the company's strengths. · W-O strategies overcome weaknesses to pursue opportunities. · S-T strategies identify ways that the firm can use its strengths to reduce its vulnerability to external threats. · W-T strategies establish a defensive plan to prevent the firm's weaknesses from making it highly susceptible to external threats.
What are the Difficulties faced in marketing time share business?
1. identifying the customer 2. designing timeshare according to the customer requirements Well, to make a certain brand stand out from the rest, you must also identify ways to beat your competitors. Effective advertising usually is costly. So, cost must also be considered. With regards to the ways of marketing, it is not much of a problem. There are numerous ways nowadays that are effective. The problem is these ways mostly involve a significant cost. Thus, you should evaluate if it is just to pursue such strategy and how it will benefit your company.
What are the basic international business strategies that firm's can pursue?
effectiveness and learning
A producer of commodity steel should pursue what generic competitive strategies?
focused
Why is not advisable to pursue many strategies at once?
By pursing more than one strategy at once, you may spread your resources thin.
Why would a company pursue a security audit?
There are many reasons why a company would pursue a security audit. One of the most common ones would be if the company feels that someone in the company's security team is leaking company information and has become a risk to the company. The security audit will determine the leak and the company will be able to remedy the situation.
How can you pursue your dreams of becoming a pro skateboarder if you suck?
Start A Skate Company
Can the other persons insurance cover your deductible?
Yes. That is part of your claim against them. However, if you filed with your insurance company, you gave up your right to pursue them for damages. Generally speaking, your insurance company will pursue the other party's insurance company and if the other company pays, that payme usually includes your deductible.
What qualifications are required to pursue a career with the CVS pharmacy company?
"To pursue a career with the CVS pharmacy company, you first need to know in what area of the store you will want to be working in. Once you determine that, there will be different qualifications for different parts of the store."
Does the insurance company pursue charges if unauthorized use wreck?
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Can one get a BA then add on to it to become a BS or do you have to earn them separately?
There is such a thing as taking a double major at the undergraduate level, so it is possible to do concurrently although not too many individuals actually pursue it.There is such a thing as taking a double major at the undergraduate level, so it is possible to do concurrently although not too many individuals actually pursue it.There is such a thing as taking a double major at the undergraduate level, so it is possible to do concurrently although not too many individuals actually pursue it.There is such a thing as taking a double major at the undergraduate level, so it is possible to do concurrently although not too many individuals actually pursue it.There is such a thing as taking a double major at the undergraduate level, so it is possible to do concurrently although not too many individuals actually pursue it.There is such a thing as taking a double major at the undergraduate level, so it is possible to do concurrently although not too many individuals actually pursue it.
Can you sue a company for forging your name on a contract?
Yes. If a company forges your name and signature on a contract and you can prove it, you have a right to pursue legal action.
What happened to the Carp River Trading Company in Traverse City Michigan?
I closed the company in 2006 to pursue new ventures, thank you for your loyalty..
Can a mortgage company pursue after a foreclosure?
Yes, if the house was sold for less than the loan value.
