Business strategy Assignment Example | Topics and Well Written Essays - 1000 words

Business strategy - Assignment Example Indian restaurant owners would already have a solid customer base from which to work from, and there is also the possibility of picking up some other ethnicities too. Cheap Indian food could be offered by encouraging Indian to be spoken within the restaurant, thus attracting the target market. c) The video rental firm market segment is not as attractive as it used to be. This is because more and more young people are using other means to watch their favorite movies. This type of business could possibly work if it was attached to some other kind of product, most likely televisions or DVD players. Special promotions could even be used to encourage people to rent a video along with another kind of purchase. 2) I do not agree that the appropriate positioning is obvious once you have identified the right segment. This is because once the right segment has been discovered further research must be done to narrow down the target customer market. This could be done through surveys of focus groups. Also, the market is always evolving and changing, so it is impossible to automatically know where to position a product in the market. 3) An organization’s competitive stance is the segment of the target market that a company chooses to pursue: low-cost supplier, differentiation, or niche marketing. The functional strategy of marketing activity depends on what the competitive stance is. For example, a company that chooses a low-cost strategy must produce its products for as cheaply as possible in order to offer low prices. Also, this company would need to produce far more products than its competitors in order to make any kind of profit. In a well-designed strategy, an organization’s competitive stance and marketing activity can work well together as long as when one changes, the other one changes to reflect that change. 6) Apple has a competitive advantage over its competitors