3. Strategic Planning for competitive Advantages
◦ Cost Leadership
◦ Differentiation
◦ Niche Strategy
◦ Altering the industry Structure
◦ Creating New Products and Service
◦ Improving Existing Product lines and Service
◦ Other Strategies
Performance-Based Information System
4.
5. Becoming the lowest cost producer in the company
Reducing the costs of raw materials
Reducing warehousing and shipping costs
Becoming more efficient
Outsourcing to cut costs when making products or
completing services
Leading to strong market share and profit margins
6. a product that is superior to the competitor’s product
Deliver different products and services
Involve producing a variety of products, giving customers
more choices, or delivering higher quality products and
services
Try to create a product or service that is considered unique
within their industry
7. Deliver to only a group of consumers
An attractive opportunity to small businesses forced to
compete against the larger competitor
Three rule for niche marketing
◦ Meeting the market’s unique needs consumers & market research
◦ Say the right thing grab group of consumer’s interest
◦ Test market start with small investment
8. “But I think everybody could use my product
and if I limit my market, I will get fewer sales.”
“Okay, if you want to market your product to the
world, how many millions of dollars do you have to
invest?”
9. Change the industry to become more favorable to the
company or organization
Creating strategic alliances or strategic partnership
(An agreement between two or more companies that involves
the joint production and distribution of goods and services.
Sanete understands this
one and then delete it
from slide )
10. Introduce new products and services periodically
helps a company gain a competitive advantage
Companies that stay on top are constantly developing new
products and services
11. To success in creating new product
◦ Ask the market
◦ Understand the needs of the target audience
◦ Gain sufficient competitive knowledge
◦ Understand current trending
◦ Learn from the past
12. Keep up with competition update your product to meet
customers’ need + reflect the latest in technology
Increase sale increase new service increase profit
However
◦ doing so will reduce sales of older item
◦ Poor marketing do enough market research + done
skillfully
13. Growth in sale
First to Market
Customizing products and services
Hiring the best people
innovation
