Differentiation strategies are not about pursuing uniqueness for the sake of being different. Differentiation is about understanding customers and how GM ’s product can meet their needs. To this extent‚ the quest for differentiation advantage takes us to the heart of business strategy. The fundamental issues of differentiation are also the fundamental issues of business strategy: Who are GM ’s customers? How does GM create value for them? And how does GM do it more effectively and efficiently
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functions so any product that specialize In one of those individual functions can also be termed as a substitute. Buyer power Buyers bargaining power is high because of the following reasons: * More choice of products and very limited differentiation of those products * Elastic demand- demand is highly sensitive to economy * Less asymmetric information-buyers have all the required information * Less switching costs: This depends on the country and type of mobile plans provided
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* High employee turnover from stress Alternative of differentiation Pros * Highlights company strengths and niches * Attract target customers * Higher revenue per transaction * Lower cost because specialized inventory needs less space Cons * Alienate customers that can’t afford higher cost of product * Higher market risk because business is less diversified Alternative of using both low cost and differentiation Pros * More customer volume * More diversified
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Positioning and Differentiation Strategies Differentiation is the act of designing a set of meaningful differences to distinguish the company’s offering from competitor’s offerings (Rao‚ 2010). With Voice to Text/Text to Voice‚ Toyota designed itself above the rest. After researching the needs of its consumer‚ Toyota focused its plans on the safety and needs of today’s driver. With the human need to stay connected to our loved ones‚ friends‚ and business contacts at the touch of a button‚ Toyota
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DIFFERENTIATION – WHAT and HOW? A few decades ago the world of education was very exercised by the forerunner of differentiation which was called ‘mixed ability teaching’. Then people began to realise it was not just ability that could be “mixed’’ and that teachers had to cope with a plethora of differences: learning style‚ age‚ motivation‚ prior learning and experience‚ gender‚ specific learning difficulties such as dyslexia‚ and so on. Consequently the term ‘mixed ability’ began to be replaced
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SALES PROMOTION ACTS AS A TOOL IN MARKETING TO LUBRICATE MARKETING EFFORTS. 2. IT IS NECESSARY IN PRESENT COMPETITIVE WORLD AND CONSUMER ORIENTED MARKETING3. IT SUPPORTS ADVERTISING AND PERSONAL SELLING. 4. IT AMIS STIMULATING CONSUMER PURCHASING AT POINT OF SALE. 5. IT PROVIDES MORE SALES AND PROFITS TO PRODUCERS AND DEALERSNEED OF SALES PROMOTION1. FOR UNLOADING ACCUMULATED INVENTORY. 2. FOR INTRODUCING NEW PRODUCTS. 3. FOR OVERCOMING SEASONAL SLUMPS. 4. FOR SUPPORTING ADVERTISING CAMPAIGN. 5
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Broad Differentiation Some important tactics necessary to gain and maintain perceived uniqueness: 1. Developing innovative products/services for broad range of customers Zara creates a “fast fashion” concept which getting designs to customers quickly. It has more style than Gap‚ faster growth than Target‚ and logistical expertise rivaling Wal-Mart. 2. Significant investments in Marketing‚ Technology Development‚ Procurement & Customer Service ZARA takes just two weeks to get a new design
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Strategy 7 Advertising 11 Promotion 13 Brands in the Lenovo space 13 Promotion Strategy 13 Impact of Promotion and Future Outlook 13 Channel Strategy 15 Channels of Distribution 15 Physical Distribution 16 Lenovo Customer Support 17 Distribution Strategy 18 Pricing Strategy 19 Alternate Pricing Strategy 20 Product Life Cycle and New Product Development Strategy 21 References 22 Shop Visits 23 Introduction Lenovo is an ace Chinese computer technology corporation that develops
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I. Cost Leadership & Differentiation strategies A/ My perspective on the issue As far as I’m concerned‚ cost leadership and differentiation are the most popular strategies applied in business battlefield. Each has its own pros & cons‚ aims and sticks firmly to companies’ different long-term goals. And here are my brief comparison tables between them : Cost leadership Differentiation Staples Provide customers with standardized products at the lowest prices Provide customers with products having
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BUS 478 Case Study -----Lenovo April 1‚ 2011 Prepared by: Hu‚ Zhihan Liu‚ Xiaobei Mi‚ Yu Shen‚ Yan Zhou‚ You 301097126 301105475 301067373 301061639 301091758 TABLE OF CONTENT INTRODUCTION .......................................................................................................................... 1 MISSION‚ GOALS & STAKEHOLDERS .................................................................................... 1 EXTERNAL ANALYSIS................................................
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