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Business Analysis Paper

681 Words3 Pages

It is important that companies look for different ways to reach out to beat competitors in the market place, thereby generating more profit for their organization. Differentiating a product or service is a method every company should implement. Differentiators are features and attributes of a company’s product or service the help it beat competitors in the market place. For firms to be successful in the market place they have to focus on image, customization, technical superiority, price, and quality of the product or service. ‘How the firm will win in the market place’ is symbolized by Hambrick and Fredrickson, (2001), as differentiators (Quilliam John, 2015). A company that has been successful in implementing this strategy is Meteor. They tried to differentiate itself from competition. They made …show more content…

A customer is an individual or a business that purchases the goods or services that are produced by a business (Investopedia, 2010). The customer is seen as the end goal of a business, since it is the customer who pays for the service or product. Through this we know that it is essential that business focus on their customers (Investopedia, 2010). Focusing on the needs of customers can give a business an edge over its competitors. A businesses marketing strategy should be geared towards reaching out to those that would benefit from your business with the hope of generating as much profit as possible (BusinessPlans, 2016). A customer driven strategy involves identifying your target market and reacting to their needs (Smallbusines, 2016). It should also focus on ways to retain customers and use them to help a business gain additional customers. A customer driven marketing strategy helps a business to build customer loyalty. This can lead to a repeat in sales for the business thereby generating more profit for the business. Marketers use the reward mechanism, where customers receive points each time they purchase a

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Every company has the same mission: to maximize their value. But in Marketo’s view, your most valuable asset isn’t your product, or your branding, or even your team—it’s your customers. The most successful companies succeed because they excel during each stage of the customer lifecycle: in acquiring new buyers, in growing their lifetime value, and in converting them into advocates. But in today’s digital world, buyers are more empowered than ever. The internet gives them instant “information gratification”— they can access detailed specs, pricing, and reviews about goods and services, 24 hours a day, with a few flicks of their thumbs.

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For the business-level, Trader Joe’s adopted a differentiation focus strategy. According to our textbook with this strategy, Trader Joe’s seeks to differentiate in its target market. They rely on providing better service than broad-based competitors. Specifically, they focus on the special needs of the buyer in other segments (Dess, Page 159). Joe’s differentiates its self from other grocers by providing a unique shopping experience fortified with their private label goods and great service from their crew members.

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STEP 6 Analyzing the Problem and Evaluating Insights STEP 6 states researchers to present the research with the challenge “to view the problem through the perspective of each relevant discipline and then evaluate each discipline’s insights concerning the problem to reveal their strengths and limitations” (Repko & Szostak, 2017, p.180). There are multiple relevant disciplines when answering the question of how training programs can be made increasingly influential on making society aware of the freshwater scarcity issue and the importance of practicing water conservation efforts. One of these relevant disciplines is that of Human Resource Development. Human Resource Development “is seen as parallel or alongside Human Resource and other organizational disciplines in promoting workplace learning and performance” (Werner, 2014, p.129). Human Resource Development provides the insight on the factors to consider and resources needed to construct a training program that not only will bring awareness to the general society; but will also be influential in the importance of practicing water conservation efforts.

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Moreover, using this factor company also can cover the cost. The Walt Disney Company exemplifies a company that uses product differentiation to gain competitive advantage. It contains several examples of Disney using product differentiation. Some of Disney’s theme park product differentiation features include a friendly staff, extremely clean facilities, an extensive range of entertainment offerings and unique customer experience.

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has millions of buyers and the company continues to woe more consumers to buy its products. The threat to buyers is not a big concern to Apple Inc. The competition on this area falls on the pricing system and differentiation of products to meet the unique needs of the consumers. The move to differentiate the products of the company aimed at addressing the diverse needs of the consumers (Bergvall-Kareborn and Howcroft 2013, p.280).

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Differentiation Strategy: - It includes developing new products & services which satisfies customer needs, they offer much more values than their competitors. They differentiated the segment according to the customers. They provide multiple customer segments which includes moderately priced to premium priced customers for example: 1. Bulgaria resorts & hotels (The Ritz Carlton) - Target segment:-Luxury guest. 2.

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Besides that, product differentiation is one of the threats of new entrants. Starting a new business we need to use a lot of money for advertising to attract customer, but we have to create our new things that cannot found in others competitors. For non-traditional barriers to entry, we have unique business model. We created a business with a unique design and establish a network of relationships that makes the business model work so that no people can easily to copy our

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First of all customer means A person who buys goods or services from a shop or business, loyalty means the state or quality of being loyal, faithfulness to commitments or obligations. So Customer loyalty is the key objective of customer relationship management and describes the loyalty, which is established between a customer and companies, persons, products or brands. “Customer loyalty is an essential aspect in any organization whether it is offering a good or providing a service. “Many organizations are looking for various ways to increase their customer loyalty as it has a positive effect on the profitability of the organization.” (Gremler 1996: 171, Abdullah et al. 2000: 826).The individual market segments should be targeted in terms of developing customer loyalty.

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