M Marketing
6th Edition
ISBN: 9781259924033
Author: Levy Grewal
Publisher: Mcgraw-Hill
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Question
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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Make use of the VRIO framework and determine if Pfizer can develop any sustainable competitive advantages.
Management ,CRITICALLY dISCUSS how diversification fits into an organization's overall strategic planning process.
Kourdi (2009:3) has defined business strategy as a “plan, choice or decision used to guide a company to greater profitability and success.”
Required
Explain how the following strategies facilitate the achievement of success or profitability:
Outsourcing
Diversification
Market Focus
Market development
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- why is business so important to achieve 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_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_forward
- What kinds of changes in the competitive environment occur when an industry begins to mature? Identify three strategic approaches that are well-suited for this type of industry environment.arrow_forwardExplain why social and environmental sustainability is seen as being of growing importance to businesses. Consider ways in which a company's annual reporting may contribute to embedding sustainability into stakeholder decision-making.arrow_forwardAnalyse the impact of information technology on competitiveness of global business strategies as portrayed in the below extract. SMC ltd is a subsidiary of the Swedish-based Andvik Group, which operates in 130 countries. SMC is a major supplier and marketer of underground mechanized mining products to the mining and major infrastructure sector. Locally,SMC is run strategically by a board that is mainly non-executive and includes managing director and country manager, Jim Tolley.SMC’s outstanding performance over the last six years is based on a strategy of improving customers’ operational efficiencies and profitability through the development of high-tech engineering products. SMC boasts a global increase of 6% sales growth and a 17% return on capital employed. SMC plans to double in size over the next five years. ‘We make it possible’, is SMC’s slogan.SMC is a service-orientated organization that prioritizes listening to clients’ to ensure that products contribute to long-term…arrow_forward
- Why is it increasingly important that firms engage in sustainability? What are some ways that strategies for the Four Ps can include sustainability?arrow_forwardSelect an organization or a company of your choice, use SWOT & PESTEL analysis tools to firstly perform an external and internal environmental analysis of the company’s business environment, and then to show the effect on the organization's operations and success.arrow_forwardAn 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.arrow_forward
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