Comparative Analysis Of Tiffany And Co And Tiffany & Co

A strategic group map is a valuable tool for comparing market positions for companies or putting them into specific groups while helping align specific differentiating characteristics. The map can help show where the company is in regard to the success of its differentiating characteristics based on both its own goals/results as well as those of its competition. There are levels on the map that range from weak to strong based on established market expectations as well as the expectations and established standards of the company.

Distinguishing one 's firm from the alternatives is a major concern for any business. Strategic analysis provides the starting point in the strategic management process organizations use to evaluate and choose the competitive advantages that distinguish them from other organizations within the market. Dominating businesses should also "choose among alternative grand strategies to guide the firm 's activities, particularly when they are trying to decide about broadening the scope of the firm 's activities beyond its core business (Robinson & Pearce, 2009)."

Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. The marketing director has asked your team to do a competitive market analysis to determine the product’s potential success. The analysis will focus on your primary competitor in the product’s market.

It is used to measure the position of a firm in relation to its relative market share as well as its market growth. Based on this the situation where in all of the given four divisions of the firm are at different levels of performance can be evaluated in order to formulate a 5 year strategy plan. This can help in the creation of a portfolio

Portray the competitive strategy of the (competing) firms using the grid of “strategic target” and “source of competitive advantage”.

The above matrix shows that four categories for growth based on a group of expanding products and markets. In each category presents different opportunities, risks, and finding for Lancer Gallery. In developing new markets or products " The imitated artifacts the buyer of imitated artifacts products who use the products for decoration and fashion” that will be resulting in a higher risk than increasing market share in Lancer Gallery existing markets. In diversification category, the company is not just developing new products but targets new markets is the riskiest.

To better understand a firm and its placement of its strategies, we must conduct an analysis of factors that might affect its selection of strategies.

By analysing those elements stated above, it is likely that the higher authority could evaluate the organisations in terms of its strategic performance level which would definitely lead to a better overall understanding on consequently may assist in decision making. The analyses of those elements are as following.

As can be seen in Graph 1, from the traditional perspective, Analysis for Strategic Marketing written by Rao and Steckel is plotted the highest with respect to the Horizontal Axis “Business Strength” and the Vertical Axis “Industry Attractiveness”. On the contrary, if AWL wants to build its “leading-edge” image, it is suggested to promote Marketing Engineering written by Lilien and Rangaswamy with more resources and effort. As can be seen in Graph 2, from the leading-edge perspective, Marketing Engineering written by Lilien and Rangaswamy is plotted the highest with respect to the Horizontal Axis “Business Strength” and the Vertical Axis “Industry Attractiveness”.

Other than Under Armour, the industry’s most prominent competitors are Nike and Adidas. In Figure 1 of the Appendix, a strategic group model illustrates Under Armour’s performance in comparison to the other leading competitors in the same industry. 7The size of each bubble is the amount of market share that that company holds. According to the map, Under Armour comes in at third place; it is apparent that the firm needs to make some changes if they desire to remain a legitimate player in the long run.

To remain competitive a company must consider who their biggest competitors are while considering its own size and position in the industry. The company should develop a strategic advantage over their competitors’

Its strengths are to know how in the context of globalization, effectively integrate resources from all over the world. Pandora jewelry is design in the Italian and then produces the product in human costs relatively low place, Thailand. So the price would be acceptable for petty bourgeoisie. According to customers’ personal preferences and ideas, they can choose from the more than 800 kinds of handmade sterling silver and 14k gold tags and select the style free collocation with commemorative value or significance. Nowadays, customers are more likely to purchase unique products that make meaning for themselves and PANDORA Jewelry fit in the market provide a high-involvement purchase experience to customers. Since PANDORA Jewelry corporation with Disney in product charm bracelet and sell products in the Disneyland which successfully attract the customers of Disney fans and increase the brand awareness. Because PANDORA Jewelry is fast fashion brand and its customers most come from petty bourgeoisies, so PANDORA will focus more on building up its brand image to attract

Middle class is booming worldwide and with prosperity comes consumers ' desire to show that they are doing well, therefore super brands like Danish Pandora and British Signet also called “category killers”, has stormed the global jewellery market where there is money to fight for. Pandora competes in affordable luxury segment, which in 2009 totalled 83 billion USD, equivalent to approx. 57% of the total market for fine jewellery. Affordable luxury still gives consumers the feel of stardust.

In that mapping Jaguar is my selected brand and main competitors are Mercedes and Audi. So, after reviewing that map it can be say that for this three specific brand there has same target customer. However, among those three brands Jaguar holds a moderate position that means they have sporty cars but not like the competitor. So, to get a better position jaguar has to reposition this brand. For that Jaguar have to identify competitor advantages that it do not have right now. In that mapping the market leader is Audi .That means they have different variety of sports cars and those cars are more expensive. Mercedes holds second position in that market that means they have more sports cars rather than Jaguar but not as many as Audi. However, there cars are not much expensive.

Competition has became evident and essential in the market of the world’s most important companies. It has allowed consumers to receive ultimate value from the goods and services that they are seeking. In my case study this competition is between two companies that produce ponchos for the fashion industry. The company that we are introduced with is named Tela and their running mate, Saira, is the Goliath of this market. Tela is trying to stay afloat and gain more customers as the underdog. Their plan to reach out to prospective customers is to introduce their new marketing strategy. This strategy includes Tela’s new mission statement which would make consumers aware of their core values and advantages over the Saira. Tela is owned by