2006-11-01 15:05:27 · 6 answers · asked by Maqbool A 1 in Business & Finance ➔ Careers & Employment
1. Market Positioning
2. Company Resources and Opportunities
3. Evaluation of Opportunities
4. Defining the Process
* Operational Efficiency
* Customer Service
* Product Leadership
5. Choosing a Competitive Edge
Do you allow feedback and comments or testimony from clients? What does your company pride itself on? Promote the Owners and Manager (yourself) for clients to feel and develop relationships on a personal level. You gain an edge over rivals only by doing something that they can't-fast delivery, quality product? By accurately identifying and analyzing your firm's target market and its relative competition, you may recognize potential opportunities for success in selling your product or service. These opportunities, which your competitors may have overlooked, will provide your firm with the vision to develop marketing mixes far superior to your competition. To ensure your firm's market staying power and survival in today's marketplace it is important for you to gain and maintain a competitive differential advantage in your target market. The state of the economy has a profound impact on your customers' buying habits. Twenty-first century customers have become more concerned with repaying their debts, lowering capital expenditures, and reducing costs by concentrating on products or services that satisfy their basic needs. Although not willing to lower their standards, both individuals and corporations are more selective in identifying products or services to satisfy their needs. What customer needs can be fulfilled by your textile business versus competitors?
1. Market penetration. This is characterized by a firm trying to increase existing product sales in its present market, for example, by developing an aggressive marketing mix, attempting to increase product use, win competitor's customers, or target non-users. Some of the questions you might want to address are:
* Why are customers currently buying my product or service?
* What might motivate my market to buy more?
* How can I persuade my competitor's users to switch to my product or service?
* How can I motivate non-users to try my product or service?
* Can I reinspire former users of my product or service to begin purchasing again?
2. Market development. This opportunity is characterized by a firm attempting to sell its current products or services to new markets (i.e. opening your business in a new geographic area or advertising in different media to attract new customers).
3. Product development. A firm that offers new or improved products to existing markets is pursuing a product development opportunity.
4. Diversification. This opportunity would be utilized by a firm adding and moving into a totally different line of business. It may be characterized by unfamiliar products, markets, or levels of production.
2006-11-01 15:50:00 · answer #1 · answered by JFAD 5 · 1⤊ 0⤋
Question
Being a manager of a textile company how you can get a competitive edge/advantage over your competitors?
Marks 10
Instructions
1.Please use a 12-point font in Times New Roman.
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2006-11-04 07:11:21 · answer #2 · answered by Ahmed A 1 · 0⤊ 0⤋
Listen to your sales people, ask them for bad news. Make it mandatory for them to include bad news in their weekly / monthly reports. This is how Microsoft got so big, Bill insists on being told bad news. Make quality a number one issue. Remember the secret of Demmings success in Japan was "Quality can be measured" and "Quality costs less". Quality isn't just taking care, it is recording information such as carpet thickness, then producing average and standard deviation. The smaller the standard deviation is the higher the quality. Is the fibre you got this week the same color, thickness, and strength as last week. Put crayons and paper in the cafeteria and ask people to submit any ideas. Ask the sales people what is the best way to advertise the product. Let the staff buy unlimited carpet at the wholesale rate (limit on credit though). I heard of one carpet company where a manager got most annoyed because one of the staff kept buying carpet at staff discount (10% less than retail) and was selling it to his relatives. It was only when someone told him the guy was selling more carpet than the top salesman that he shut up. Don't be frugle with bonuses, especially with the less well paid people. If the cleaner suggested something, the cleaner gets the bonus.
2016-05-23 10:44:18 · answer #3 · answered by S 3 · 0⤊ 0⤋
New product at lesser price. If true put a small us flag on product and advertise as American made.
2006-11-01 15:16:00 · answer #4 · answered by Dotr 5 · 0⤊ 0⤋
cheaper labor force.
better customer relations.
better marketing.
better clothes.
got nothing.
2006-11-01 15:08:34 · answer #5 · answered by Anonymous · 0⤊ 0⤋
is this for Virtual university asignment?
2006-11-02 22:54:32 · answer #6 · answered by mansoordost 1 · 0⤊ 0⤋