Business Strategy in a Global Environment

Business Strategy in a Global Environment



Business Strategy in a Global Environment

Given the demands of today's competitive and dynamic environment, it is quite challenging to understand strategic marketing issues facing organizations and develop the capability for long term business success. In this case study, this report aims to explore the marketing strategy of Gordon Highlanders Museum (GHM) in order to build and maintain a competitive advantage in the dynamic marketplace. The critical analysis mainly focused on how marketing mix 7'P's in GHM come together to build and develop the existing museum's marketing strategy. More specifically, existing overall marketing strategy in GHM emphasize the differentiation option on product, price and promotion to meet the demand of adult, senior citizen, children and other different visitor group. And it also combines with focus strategy to build the customer satisfaction and customer loyalty.

In addition, based on the 7Ps analysis, the strategic opinion for GHM in future is also identified as a combination with differentiated and focused strategy in order to build the awareness of visitors as well as profit generation. Moreover, differentiated strategy of GHM should emphasize three offers: product, promotion and process to enhance its competitive advantage. More specifically, process act as marketing mix in future can be improved by offer on-line booking service on line to boost its efficiency. Finally, future position of GHM is presented after the analysis of its target market and its differentiated advantage. It should emphasize on offering the unique visit experience in the featured environment to distinguish its advantage with other competitors in a sustainable way.

Competitive positioning is about defining how you'll “differentiate” your offering and create value for your market. It's about carving out a spot in the competitive landscape and focusing your company to deliver on that strategy. A good strategy includes

Market profile: size, competitors, stage of growth

Customer segments: groups of prospects with similar wants & needs

Competitive analysis: strengths, weaknesses, opportunities and threats in the landscape

Positioning strategy: how you'll position your offering to focus on opportunities in the market

Value proposition: the type of value you'll deliver to the market

When your market clearly sees how your offering is different than that of your competition, it's easier to generate new prospects and guide them to buy. Without differentiation, it takes more time and money to show prospects why they should choose you; as a result, you often end up competing on price - a tough position to sustain over the long term.

One of the key elements of your positioning strategy is your value proposition. There are three essential types of value: operational excellence, product leadership and customer intimacy.

Here is a hypothetical example of each type of value.

PRODUCT LEADERSHIP

OPERATIONAL EXCELLENCE

CUSTOMER INTIMACY

Alpha is completely dedicated to innovation and quality. They're constantly working on product improvements and new ideas that they can bring to market. They know what their competitors are doing and are completely focused on staying one step ahead in order to capture a greater share of their ...