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Strategic Competitive Advantage

   

Added on  2020-11-12

14 Pages4692 Words324 Views
Strategic CompetitiveAdvantage

Executive summary Apple Corporation is considered as one of the leading brand in electronic market whichmanufactures and sales products- smartphones, music players and tablets. It has strong brandimage due to innovative products and high pricing strategy that sets a bench mark in competitivemarketplace. The objective of present assignment is to provide a detailed analysis about conceptof strategic marketing in Apple Corporation. Though this research, it has identified howcompetitive advantage of a company helps in developing strategic plan and achievement ofmarketing objectives. This would help in analysing how strategic marketing plan give support indeveloping customer awareness and increase loyalty to gain high competitive advantage. For thispurpose, secondary sources like books and journals, are used to gather adequate amount ofinformation. This would help in analysing that in order to design an effective marketing plan,Apple needs to understand its competitive advantages. As it wants to expand its business in newemerging market, it is recommended to this company to develop a proper marketing mixstrategy. Along with this, competitive advantage will play an important role in strategicmarketing because this will provide major benefits in order to maintain their monopoly at largemarket area. Apple company require to maintain and mange their business operations for takingposition in the top market place which assist in reaching with desired goals and targetseffectively. Further, for developing strategic marketing plan, a company can reduce its efforts bygetting an edge over its rivalries. Since competitive advancement can only be gained if anorganisation has adequate resources and must know about its products or services, which aredifficult to be imitable. Therefore, once strategy is developed, it would be helpful to translate thesame into specific competitive advantage

Table of ContentsExecutive summary .........................................................................................................................2INTRODUCTION...........................................................................................................................4LITERATURE REVIEW................................................................................................................4Concept of Competitive Advantage.................................................................................................4Article 1: Strategic Management for Competitive Advantage....................................................5Article 2: Sources of Competitive Advantage...........................................................................5Article 3: Strong Competitive Advantage...................................................................................6Article 4: Importance of Competitive Advantage in Strategic Management..............................7Article 5: Sustainable Competitive Advantage...........................................................................7Article 6: Strategic management insight competitive advantage................................................8METHOD......................................................................................................................................10DISCUSSION................................................................................................................................10CONCLUSION..............................................................................................................................11RECOMMENDATIONS...............................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONCompetitive advantage is an attribute which permits an association to outperform theirrivalry which includes various things such as; access to natural resources like highly talentedemployees, geographic locations, allowed using advanced technology and many more. In fact,competitive advantage plays a very crucial in strategic marketing because it gives advantages tomaintain its monopoly at marketplace (Stonehouse, 2004). However, number of authors areidentified which were expressed their viewpoints or thought process on effectiveness ofcompetitive advantage in strategic marketing. The report is based on Apple company which isAmerican multinational technology firm and offers a variety of goods and services to itscustomers. It sells a variety of consumer electronics, computer software and other services, tocater needs of customers, for getting their high retention. Apple is one of the most widelypopular organisation in all over the world. The company operate and regulate in the desktop andlaptop computer, smartphone and entertainment technology spaces which face competition froman ever growing array of peers. They are face various rivals while operate business in anothercountry such as Samsung, Dell, Sony, Bose and so more. This will help them in attainingrequired goals and targets effectively.This report covers four main parts that are- literature review that showcase the concept ofstrategic marketing and competitive advancement, methods for investigation, findings whereanalyses has made on the basis of research and the last one is conclusion. Furthermore, somerecommendations has also provide to Apple Corporation for achievement of its marketingobjectives. LITERATURE REVIEWConcept of Competitive AdvantageCompetitive advantages are situation in which it allow an organisation or country todevelop effective products and services along with equal value at lower price in more desirableway. This is that condition which allow productive venture in order to generate more sales andhigher margins are compared with its market competitors. Along with this, competitiveadvantages are attributed to a variety of different factors which includes cost structure, branding,quality of different goods offerings, distribution network and effective customer facilities. It willgenerate higher value for Apple and their shareholders because of some advantages and benefits.4

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