Strategic Management Report: Strategies for Product Introduction

This report provides an analysis of strategic management practices employed by three companies: Bang & Olufsen (B&O), Proud AV, and CE Labs. It begins with an introduction to business strategies and their importance in maintaining competitiveness. The report then offers an overview of each co...Read More

Strategic
management
(SET-2)

Content
 Introduction
 Overview of Bang & Olufsen
 Overview of Proud AV
 Overview of CE Labs
 Conclusion
 References

Introduction
Business strategies are the set of actions that are taken by the
companies so that they can remain competitive in the market, attract
more customers, enhance their performance and achieve their goals.
In this presentation three companies are taken that will help them in
introducing new products in the market so that they can compete
strategically.

Bang & Olufsen
Company overview
The company deals in high-end luxury
consumer electronic products and designs
and manufactures audio products,
television sets and telephones. The
company is headquartered in Denmark and
implements highly advanced technology in
all its products and mainly focus on high-
income groups.

Strategies followed by company to bring new
products
The company follows 'Pole Position' strategy which helps the
company to focus on its product range which increases its
profitability. This strategy helps the company in establishing clear
goals which enables the employees to work together efficiently to
achieve the goals of the company on time. B&O is able to develop
exclusive audio and video products which are of differentiating
designs, quality, innovation and are user friendly.

Theories followed by company
The company uses various theories so that new product can be
efficiently brought in the new market which are :
Leadership theories : The company follows participative leadership so
that all the team members involved in new product development can
be included which results in efficient decision-making.

Proud AV
Company overview
The company specializes in designing
and building integrated multimedia
presentation and distributed media
system based on customer
specification.

Strategies followed by company to bring new
products
The company follows 'STP'
strategy in order to introduce its
new products in the market
which will help it in gaining
maximum market share and
increasing its sales.

Continue…
Segmentation : The company identifies the market in which it wants to
sell its products. This company segments its market based on
demographic and psycho graphic factors so that the large market
can be divided into smaller segments based on the important
characteristics which are essential for the product to be successful.

Theories followed by company
Leadership theories : The company follows autocratic leadership so
that the employees can be allotted responsibilities and roles so that
they can perform their tasks efficiently and problem solving can be
done effectively by the team leaders.

CE Labs
Company overview
The company is a manufacturer of audio
and video products with a tradition of
building flexible, commercial-grade
digital signage appliances and custom
digital signage solutions.

Strategies followed by company to bring new
products
The company continuously evolves its products by introducing new
technologies so as to enhance the product features to motivate
customers to buy their products. The company aims at launching
two new 4k 60Hz digital media players to the digital media player
product line for which it follows Sustainability approach so that
the new products that are developed by the company helps the
company in developing sustainably in the market which will ensure
its growth and development in the competitive marketplace.

Theories followed by company
Leadership theories : The
company follows situational
leadership under which the
leaders of the company lead
the team members
depending on the situations.

Conclusion
From this presentation it can be concluded that in order to succeed in
the competitive market it is important to use strategies which can
help the company in achieving the company goals and objectives
efficiently. Also various theories are to be applied which can help
the company in motivating its employees so that company goals are
achieved on time.

References
Cheng, A. and et. al., 2015. Perception of CPR quality: influence of
CPR feedback, just-in-time CPR training and provider role.
Resuscitation .87. pp.44-50.
Collins, K.F., Muthusamy, S.K. and Carr, A., 2015. Toyota production
system for healthcare organisations: prospects and implementation
challenges. Total Quality Management & Business
Excellence .26(7-8). pp.905-918.
Harrison, F. and Lock, D., 2017. Advanced project management: a
structured approach. Routledge.

Thank You