Short Answer 6-11

It defines a suitable niche market and aligns marketing activities with customer needs and preferences.

It refers to how the products/services meet a particular customer need.

It refers to the process of changing a target market’s understanding and perception of a product/service.

<p>Repositioning Strategy</p> Signup and view all the answers

<p>Before the business reach to mature stage, it would go through the growth stage. In this stage, business could capture the demand of customers, the profit increase dramatically. All supply and demand are both favored for supplier. However, the market is saturated which leads to both needs and demand of customers go down. Customers saw no innovation or differentiation in products/services. This is when the market reached maturity. Qantas is suffering this situation; it seemingly mature market. Mature market is the stage when the rate of growth slows or little growth. This may pressure on profit. In order to exist as well as maintain the position in this situation. Firstly, Qantas should redefine targeted segmentation. It means that Qantas should consider desirable target customers to be strongly positive to market attractiveness and potential competitive position. Secondly, redesigning services should be applied in this case. Qantas must identify which flaws it is facing; thereby, adding more value or upgrade the quality are different from competitors and enhance augmentation for services. Finally, Qantas should develop new products. In order to attract customers’ attention, gain profit and enhance revenue, Qantas can add the utility for existing customers and enlarge more benefits for new customers.</p> Signup and view all the answers

<p>When enter new market like Australia:</p> <ul> <li>Tiger Airway segments the market, targets the most profitable ones (Behavioral Segmentation, Demographic Segmentation, Geographic Segmentation, Psychographic Segmentation)</li> <li>Tiger Airway can continue using their</li> </ul> <ol> <li>Cost Leadership strategy (maintained a sustainable low-cost advantage over their full-service competitors)</li> <li>Differentiation Strategy (Tiger airways focused on differentiation of their product, that mean they must also offer a product which is very highly rated by passengers in terms of value for money.)</li> <li>Operational strategy (focus on short haul route, perform a system of activities differently from that of traditional rivals and providing a coherent set of key activities that reinforce each other to achieve such position in a sustainable manner)</li> </ol> Signup and view all the answers

<p>Allocating and coordinating marketing resources to achieve business objectives.</p> Signup and view all the answers

<ul> <li>Firstly, Apple capitalized on the multi-touch technology and turn this technology into the new launching products. At that time, Apple recklessly removed physical keyboard, just only use virtual keyboard. This seems stimulate the interest and curiosity of customers, thereby many people bought and experience it.</li> <li>Growth market is the place where business could capture the demand of customers, the profit increase dramatically. All supply and demand are both favored for supplier. This is the reason why when the first iPhone was introduced, it receive good reaction from customers. It can be seen Apple employed a breakthrough strategy to differentiate. As a result, it can gain the market share in auto mobile phone industry.</li> </ul> Signup and view all the answers

<ul> <li>Source of synergy: when the business’s business, product market, resource deployment and reinforces to each other. Synergy enables the total performance of the business to be greater.</li> <li>There are different kind of source of synergy that CEO of Qantas is looking for</li> </ul> <ul> <li>Knowledge-based synergy: the performance of a business can enhance by transferring knowledge, competencies or intangible things (brand name, brand reputation)</li> <li>Corporate identity and corporate brand: these help business differentiate from their competitors and give it sustainable competitive advantages in the market.</li> <li>Shared resources: consists of share operational resources, facilities and function across business units which can increase the economies of scale. As a result, it can bring the efficiency as well as productivity for businesses</li> </ul> Signup and view all the answers

<p>_ Any businesses has to be in declining market which cannot be generated money any more. This is considered as a difficult stage when business ongoing find ways to overcome and managers must seek opportunities to survive. _ In case of becoming profitable survivor in this circumstance, it is feasible when a company see market start growing again in the future. A profitable survivor focus on gaining market share. Definitely, if a company still operate in declining market, it needs to adjust its strategies from the one it use in mature stage. There are some conditions for the use of profitable survivor strategy</p> <ul> <li>Ford Motors should take risks by creating the breakthrough in designing products. Adding more value in products makes Ford Motors differentiate to competitors. From there, they can gain the position in the market</li> <li>Exploring the latest trend and technology in order to catch up with the changing external environment. By doing that, Ford Motors can compete with other players as well as survive in declining market</li> </ul> Signup and view all the answers

<p>_ Source of synergy: exist when business, product market, resource deployment and reinforce to each other. Synergy enables to total performance of the related business to be greater _ There are different kind of source of synergy that CEO of Qantas is looking for</p> <p>Knowledge-based synergy: the performance of a business can enhance by transferring knowledge, competencies or intangible things (brand name, brand reputation) + Corporate identity and corporate brand: these help business stand out from their competitors and give it sustainable competitive advantages in the market. Shared resources: consists of share operational resources, facilities and function across business units which can increase the economies of scale. As a result, it can bring the efficiency as well as productivity for businesses.</p> Signup and view all the answers