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This document contains multiple short answer questions (SAQs) on various business strategies, including how market positioning affects branding decisions, alternative strategies for Qantas in a mature market, Apple's prospector strategy, and Tiger Airways' market entry strategies. The document also includes information on analysis of business strategies.
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1. Explain how the result of a market positioning analysis affects the final decision about where to position a new brand or reposition an existing one. - P ositioning statement: refers to how the products/services meet a particular customer needs. Positioning is the process t...
1. Explain how the result of a market positioning analysis affects the final decision about where to position a new brand or reposition an existing one. - P ositioning statement: refers to how the products/services meet a particular customer needs. Positioning is the process to define a suitable niche market for a product. - Repositioning statement: refers to the process of changing a target market’s understanding and perception of product/services due to unexpected reasons. he selection of position should match with the needs of target segmentation as well as the T preference of customers; thereby, company can deploy marketing activities appropriately or ex: Bitis- one of the well-known brands. Bitis lost connection with gen Z (middle-age). CMO of F Bitis realized that most of Gen Z moved into other brands: Nike, Adidas. Hence, Bitis decided to launch a new product named Bitis Hunter repositioning to those who live far away from home. When wearing these shoes, they will remember their hometown and desire to come back home. Consequently, this campaign is totally successful because it can touch into the bottom of the heart of audiences. It can be said that Bitis employs a repositioning strategy by launching new products as it can enhance the brand image and attract the target customers like Bitis desires. 2. Qantas (Australia's largest international and domestic airline) is in an extremely competitive and seemingly mature market. You have been asked by the marketing manager to come up with an alternative going forward. Offer suggestions to the manager on what is possible. (chap 6, p.182) Examine the existing position of Qantas, what key competitors are doing? Which products/ < services do competitors serve to the customers? > _ 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 1 d emand 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. 3. Apple Inc. is considered to be following a prospector strategy. Under what condition is this strategy appropriate for Apple _ A prospector strategy entails product innovation and ongoing exploration of new market opportunities to develop or penetrate. This kind of strategy requires the organizational flexibility to adapt to dynamic environment as well as the influence from macro environment. * The condition for this strategy: + Rapidly changing the environment due to new technology, shifting customers needs + Industry offers many opportunities for new product market entries + Newly emerging technology, many application undeveloped yet. _ Every year, Apple plans to launch new upgraded product in the market: iPhone, Macbook, Apple watch. Each of item is innovated by adding new features, tools coupled with modernize the technology to catch up with the evolving information technology in industry. It can be said that Apple is appropriate with prospector strategy because it pose latest technology that surpass to other competitors and become a technology giant in industry. 4. Explain the various ways Tiger Airway as challenger can target other domestic airlines in an established market like Australia( https://www.ukessays.com/essays/management/company-overview-of-tiger-airways-management-es say.php) When enter new market like Australia: - Tiger Airway segments the market, targets the most profitable ones (Behavioral Segmentation, Demographic Segmentation, Geographic Segmentation, Psychographic Segmentation) 2 - Tiger Airway can continue using their 1) C ost Leadership strategy(maintained a sustainable low-cost advantage over their full-service competitors) 2) 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.) 3) 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) 5. What is the primary focus on marketing-level strategies? What critical issues do they focus on? _ Marketing-level strategy focus on allocating and coordinating marketing resources, activities to accomplish business’s objectives. The critical issue concerning the scope of a marketing strategy is defining target markets for a particular product; therefore, business seek to the competitive advantage through well-integrated marketing mix (Products, Price, Place and Promotion). For ex:(Define 4Ps) 6. Apple gained significant market share within a short period of time following the launch of the first iPhone on 29/6/2007 in emerging smartphone market. Explain how Apple’s share gains are worth more in a growth market than in a mature market (x) _ 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. _ 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. 7. CEO of Qantas is looking for to identify the source of synergy from different business in Qantas. What are the various sources of synergy for Qantas? _ 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 3 _ There are different kind of source of synergy that CEO of Qantas is looking for Knowledge-based synergy: the performance of a business canenhanceby transferring + knowledge, competencies or intangible things (brand name, brand reputation) Corporate identity and corporate brand: these help business differentiate 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. 8. Ford Motors want to be the profitable survivor in the declining market. Write a brief note on this strategy. Explain the conditions most appropriate for the use of the profitable survivor strategy _ 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 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 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 9. What are analyser and defender strategies? How they similar and dissimilar from each other? List the conditions most appropriate for their use _ Analyzer strategies:is the strategy that maintain the position and seek to expand the new product-market _ Defender strategies:is the strategy that maintain position by establishing product-market while paying less attention to the new product development. * SIMILAR: _ Both strategies focus on maintaining the position in product-market _ Trying to keep stable product, improve service by offering low-cost but high quality 4 * DISSIMILAR ANALYZER STRATEGIES DEFENDER STRATEGIES I ntermediary type, make fewer in slower L imited range of product compared to product-market change than prospector competitors but less committed to stability and efficiency than defenders aintain stable product-market position M ry to protect the domain in the stable T but carefully follows selected set of and pay less attention to product promising new development in its development industry arely a first-mover but often a second R Ignore industry changes or third entrants in product-market to ot at the forefront of technology/ new N exits market bases product development The appropriate condition for Analyzer strategies: _ The business has to pay attention to product development in order not to be surpassed by competitors with latest upgraded products or even being left behind by new entrants 1 0. CEO of BHP Bilton is looking for to identify the source of synergy from different business in BHP. _ 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 Knowledge-based synergy: the performance of a business canenhanceby 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. 5