Feasibility Case Study: Challenger Technologies Limited

For a market with generic competition, is where competitors avail to the customer's other types of goods or services that are not the same to those of the organization but they can be used as substitutes for the products of the organization. Adequate and the right information about the generic competition is vital to provide a good knowledge of the threats and opportunities. This will facilitate good decision for better competition by ensuring continuous customers’ satisfaction (Grabowski & Boyo,2016).

The competitive advantage of Nordstrom is that they have extraordinary services, high wages, promotion possibilities, product availability, their image, customer loyalty, and patronizing sales in which source is superior customer service. Their current competitive strategy is broad differentiation strategy where Nordstrom seeks to differentiate their product or offering from competitor in ways that will appeal to a broad range of

RQ1: I would advise them to be very open minded and broad when defining their market they are competing in as to not exclude any and all potential competition.

There are many strategies that organizations can incorporate in today’s business environment. An organization can decide to take on a low-cost provider strategy, a focused low-cost strategy, broad differentiation strategy, focused differentiation strategy, and/or a best-cost provider strategy. While all of them have their own unique features and can offer a competitive advantage over its rivals, Competitive Shoes, Inc. decided to incorporate the best-cost strategy into its organization in order to compete against it rivals. By incorporating the best-cost strategy into its organization, Competitive Shoes Inc. felt that they could stay

Mission statement: “Through an efficient and diversified multi-channel marketing system, we provide customers a unique shopping experience by offering the best prices and service on a broad range of products and services.”

An understanding of a competitor’s position can be a key for a business to determine where funding and resources should be allotted to create new products or services.

A competitor’s capabilities can be analyzed according to its strengths and weaknesses in various functional areas. The competitor’s strength defines its capabilities (Competitor’s Resources and Capabilities, 2010). One common and useful technique is constructing a competitor array. The steps include:

The entrance of a new competitor into a market can cause a business to change its marketing strategy. For example, a small electronics store that was the only game in town might have to change its image in the marketplace when a large chain store opens nearby. While the smaller store might not be able to compete in price, it can use advertising to position itself as the friendly, service-oriented local alternative.

A company needs to create a series of programs to differentiate their product from those from its competitors and to appropriately price the product to achieve the maximum demand, in order to set up the dynamics of its competitive strategy (David, 2007). The competitive strategy of a company is also expected to offer better products or services to its customers, at a reasonable cost. Due to the mass influence of the external environmental on the customers’ preference, it is vital for the company to develop an available competitive strategy to be able to solve a series of problems, and ultimately to improve the company’s performance. Those problems include: how to differentiate its products or service from competitors, how to create market segments to maximize demands, and how to offer a wider range of products or services to better meet the customers’ needs at more acceptable costs (David, 2007).

* Although not as profitable, this positioning strategy will still make a profit and build brand equity.

One of the benefits of both unrelated and related diversification strategies according to Zhang was, “Speed and differentiation… two approaches to be better customer focused; speed in being able to satisfy customers’ needs as quickly as possible and differentiation in being able to offer new and innovative products to meet different needs. (pg. 7)

Analyzing the trends and consumer behavior indicates that horizontal expansion will be necessary to capture the full and growing target market. Horizontal expansion can be

There are various ‘products’ some name it components or levels that constitute a product offered by a company. These can be described as core product, actual product, augmented product and potential product.

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’

To be the best cost provider .Train and develop the team’s capabilities and competencies to make them technically prepared to implement the new strategy.