5TH Glo-Bus exercise

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INTERNATIO

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Business

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Feb 20, 2024

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docx

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Assignment: - 5 th Glo-Bus Exercise Date: - June 24, 2023 Group Members: - Ravi Patel, Yash Patel Mithil Yadav 1. Which one of the five generic competitive strategies best characterizes your company's strategic approach to competing successfully in wearable video cameras? Our company's strategic approach to competing successfully in the wearable video camera industry is characterized by the best-cost provider model. We differentiate ourselves by offering a compelling value proposition through affordable pricing while maintaining excellent product specifications, quality, and after-sales service. Despite being positioned in the middle market, we provide customers with an enticing product that delivers high performance, attractive features, and dedicated customer support. By offering a product with similar traits as our competitors but at a lower price point, we ensure that our clients receive the best value for their money. 2. Which one of the five generic competitive strategies best characterizes your company's strategic approach to competing successfully in UAV drones? In the UAV Drones industry, our company adopts a product differentiation strategy. This strategic approach also extends to our wearable video cameras, where we position ourselves as a best-cost provider. Our products are marketed as having top-notch features and attributes that surpass those of our competitors. Despite offering exceptional quality, we price our products much more affordably than higher-priced alternatives. By leveraging this combination of product differentiation and competitive pricing, we provide customers with superior value and a compelling choice. 3. Which makes wearable video cameras in your industry appear to be employing a low-cost provider strategy? A broad differentiation strategy? A best-cost-provider strategy? Business Process Reengineering is a strategy that allows radically redesigning production processes and optimizing results. The BPR achieves improvements in critical situations of performance, costs, services, quality, and speed of processes. 4. Which makes UAV drones in your industry appear to be employing a low-cost provider strategy? A broad differentiation strategy? A best-cost-provider strategy? Expanding differentiation through increased productivity is a strategic approach that involves delivering desired quality, features, performance, and service attributes while outperforming competitors in terms of price. This strategy aims to provide a product that offers similar or better value than rivals but at a lower cost. By focusing on improving productivity, companies can enhance their competitive advantage by delivering differentiated products that meet customer expectations while maintaining a cost advantage over their competitors. 5. Which rival companies appear to be concentrating more/less attention on wearable video cameras versus UAV drones and/or some geographic regions versus other regions? Company B has placed a higher emphasis on AC cameras, as they have observed a higher net sales revenue from this product compared to their UAV drones. In contrast, Company K has allocated equal focus on both drones and cameras. However, Company D has achieved exceptional sales in both categories and is currently leading the market.
Assignment: - 5 th Glo-Bus Exercise Date: - June 24, 2023 Group Members: - Ravi Patel, Yash Patel Mithil Yadav 6. Which digital camera companies in your industry appear to be employing a best-cost provider strategy? Following an extensive analysis of the digital camera industry, we have identified several companies that appear to be implementing a best-value provider strategy. One notable example is Company B, which prioritizes affordability while maintaining stringent quality standards. This is evident through their dedicated focus on AC cameras, which have yielded substantial net sales revenue. Additionally, Company K strikes a harmonious equilibrium between cost and quality by giving equal priority to both drones and cameras. In contrast, Company D stands out for its exceptional sales performance in both market segments, highlighting its ability to offer cost-efficient yet enticing products. While there is a possibility that other companies in the industry are also pursuing a best-cost provider strategy. 7. Which rivals appear to have no clear competitive strategy approach in cameras? In drones? According to the competitive intelligence report, it seems that Company K lacks a distinct competitive strategy as evidenced by its below-average pricing, P/Q rating, brand reputation, and number of models compared to the industry average. Additionally, the company's total number of retail outlets falls short of the industry average. Similarly, Company H also lacks a clear competitive strategy in the drone market, as indicated by its below-average industry P/Q rating. Moreover, the company significantly reduced its marketing costs in year 8, including website displays, search engine advertising, and retailer recruitment. Furthermore, Company H has lowered its pricing by a substantial margin compared to the industry average. Overall, Company H's approach for camera and UAV drones using a low-cost strategy seems not right based on the report which makes them ranked 10 in the industry scoreboard. 8. What is your company’s action plan to achieve a sustainable competitive advantage over rival companies? List at least three (preferably more than three) specific kinds of decision entries on specific decision screens that your company has made or intends to make to win this kind of competitive edge over rivals. 1. We will increase our included accessories to 15 since we are low in this aspect in the industry benchmark. 2. We will also increase our assembly facility for workstation spaces because we were not doing it in our previous years. 3. We will increase the number of models of UAV drones because we were offering only 3 models in the past years.
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