Objectives:
-Define Focused or recess Strategy and Best-Cost provider Strategy
-To know the advantages and disadvantages of Niche Strategy and Best-Cost Provider Strategy
-Describe the concept of offensive as well as justificatory strategies and their variants
* FOCUSED OR NICHE STRATEGY
WHAT IS FOCUSED OR NICHE STRATEGY?
Niche or Focus, is used to refer to a different or unique kind of market which is unremarkably limited in number.
* Focus scheme based on low-cost
* Concentrate on a narrow customer ingredient beating the competition on lower cost
* Focus strategy based on differentiation
* Offering niche customers a crossway customized to their needs
* Overall objective of both focus strategies is to do a better job of serving a niche sharpen market than competitors
* Keys to success
* Choose a niche were customers have a distinctive preference, unique needs or special requirements
* aim a unique mogul to serve the needs of a niche tar pose market
What Makes a Niche Attractive?
* too large enough to be profitable
* Good growth potential
* Not faultfinding to the success of major competitors
* brass instrument has the resources to effectively serve the niche
* Organization can defend itself against challengers through a superior ability to serve the niche
* No competitors are focusing on the niche
EXAMPLES OF FOCUS STRATEGIES
-eBay for online auctions
-Porsche for sports cars
-Horizon and Comair (commuter airlines) to link major airports with small cities
-Jiffy Lube International, maintenance for aim vehicles
-Bandag specialist in truck tire recapping
FIVE STAGES TO amply ADDRESS THE NICHE OPPORTUNITY
There are fin stages to consider when attempting to address niche marketing opportunities. These stages are strategical planning, defining the mission and objectives, strategies and action, monitoring key projects and objectives, and...If you want to get a full essay, order it on our website: Orderessay
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