MARKETING - RENTAL EBOOK ACCESS CODE
7th Edition
ISBN: 9781264156467
Author: Grewal
Publisher: MCG
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Chapter 2.1, Problem 2PC
Summary Introduction
To determine: Ways to attain sustainable competitive advantage using four macro strategies.
Introduction: Marketing strategy is an idea by the management to enhance the performance of the company and attract customers.
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Management ,CRITICALLY dISCUSS how diversification fits into an organization's overall strategic planning process.
Using one strategic management tool, explain in your own words how to carry out an effective external environmental analysis on a firm.
An industry's key success factors
A) can be determined from studying the "winning" strategies of the industry leaders and ruling out as potential key success factors the strategy elements of those firms considered to have "losing" strategies.
B) depend on the relative competitive strengths of the industry leaders and how vulnerable they are to competitive attack.
C) are a function of market share, entry barriers, economies of scale, degree of vertical integration, and industry profitability.
D) can be determined through identifying an industry's dominant economic characteristics, assessing the five competitive forces, and considering the impacts of the driving forces.
E) vary according to whether an industry has high or low long-term attractiveness.
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- A company achieves sustainable competitive advantage when: Answer D) its strategy and its business model are well-matched and in sync. C) it is consistently able to achieve both its strategic and financial objectives. B) it has a profitable business model. A) an attractive number of buyers have a lasting preference for its products or services as compared to the offerings of competitors.arrow_forwardUnder what conditions will a related diversification strategy not be a source of competitive advantage for a firm?arrow_forwardFrom a business strategy perspective, what is the purpose of evaluating your "industry" per the Industrial Organization (IO) model.arrow_forward
- Discuss why the macro environment is important to business strategy and outline with examples how organisations typically measure and assess it.arrow_forwardWhy is it increasingly important that firms engage in sustainability? What are some ways that strategies for the Four Ps can include sustainability?arrow_forwardConduct a SWOT Analysis of Tropical Leisure based on the images provided and Elaborate on 5 different environmental factors which are likely to impact on Tropical Leisure’s business over the next five years.arrow_forward
- What are the primary factors that shape competition in an industry, according to Porter’s model?arrow_forwardAnalyze the mission statement of any company on the basis of major competitive spherearrow_forwardMake use of the VRIO framework and determine if Pfizer can develop any sustainable competitive advantages.arrow_forward
- “Winning in the marketplace is, in most cases, a result if the actions an organisation takes to seekand secure a sustainable competitive advantage” (Louw & Venter, 2019:249). Analyse thebusiness level strategy employed by Sportify.arrow_forwardListed below are (5) problems/incidents encountered by an entrepreneur during his/her business operations. Determine what actions should be taken in every problem/incident encountered. Incidents Occured Actions Taken 1) Employee Turnover Rate 2) Increase in Competition 3) Failing Sales 4) Uncertainty 5) Globalizationarrow_forwardDiversification strategy may offer the greatest potential for increased revenues compared with other strategies presented by Product / Market Expansion Grid Select one: True Falsearrow_forward
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