Crafting and Executing a Strategic Plan
Business Brief
Competitive Strategy:
Frame By Frame has evaluated the market closely analyzing the entry-level and multi-featured segments. Employing the low cost strategy in the entry-level market was established to do exactly what is intended with this approach: ● Gain a broad cross-section of the market
● Lower overall costs than the competitors ● A good basis camera ● Continuous search for ways to reduce costs ● Highlight the features that lead to low cost
The keys to sustaining the low cost strategy for the entry-level segment will be a vigorous approach to finding an economical ration between prices and camera value. Paramount to sustaining the strategy will be to manage costs down every year in all areas of business (Thompson, Strickland, & Gamble 2010 p. 161). Appendix A
Frame by Frame will generate market share in all regions with a clear understanding that profit margin will be low. The low price leader with continued market share expansion will pay dividends in the high end multi-feature segment.
Frame by Frame will complement the low price entry level camera with a well differentiated multi-featured camera. Appendix B. Profit margins over market share will allow this segment of the company to continue to thrive. A selective market which Frame by Frame intends to service will prove beneficial to the bottom line. With strong marketing and advertizing plans market share will grow in years to come leading to even stronger market share and profits. The differentiation strategy for the multi-featured camera will
● find a narrow market niche where buyers needs and preferences are distinctively different.
● develop features, attributes and custom made products that match the tastes and requirements of niche members
● communicate how product offering does the best job of meeting the niche buyer’s expectations
It will be crucial for Frame to Frame to stay committed to serving the niche better than rivals.
Competitive Strategy:
Frame By Frame has evaluated the market closely analyzing the entry-level and multi-featured segments. Employing the low cost strategy in the entry-level market was established to do exactly what is intended with this approach: ● Gain a broad cross-section of the market
● Lower overall costs than the competitors ● A good basis camera ● Continuous search for ways to reduce costs ● Highlight the features that lead to low cost
The keys to sustaining the low cost strategy for the entry-level segment will be a vigorous approach to finding an economical ration between prices and camera value. Paramount to sustaining the strategy will be to manage costs down every year in all areas of business (Thompson, Strickland, & Gamble 2010 p. 161). Appendix A
Frame by Frame will generate market share in all regions with a clear understanding that profit margin will be low. The low price leader with continued market share expansion will pay dividends in the high end multi-feature segment.
Frame by Frame will complement the low price entry level camera with a well differentiated multi-featured camera. Appendix B. Profit margins over market share will allow this segment of the company to continue to thrive. A selective market which Frame by Frame intends to service will prove beneficial to the bottom line. With strong marketing and advertizing plans market share will grow in years to come leading to even stronger market share and profits. The differentiation strategy for the multi-featured camera will
● find a narrow market niche where buyers needs and preferences are distinctively different.
● develop features, attributes and custom made products that match the tastes and requirements of niche members
● communicate how product offering does the best job of meeting the niche buyer’s expectations
It will be crucial for Frame to Frame to stay committed to serving the niche better than rivals.