Question
Please give me a positive response at least a paragraph long for each of these two. 1. For each of the three generic service strategies
Please give me a positive response at least a paragraph long for each of these two.
1. For each of the three generic service strategies (overall cost leadership, differentiation, and focus), which of the four competitive uses of information is the most powerful? For overall cost leadership, barriers of entry & exit are really the most powerful uses of information. If your strategy is to be the "value" leader, then you likely use the information to continue to be that leader by pairing low costs with high switching costs. An example would be a cable company competing on monthly value, but enforcing a contract which would incur switching costs if broken. For differentiation, using their database assets to differentiate their product is very powerful. If we think of village volvo, they used customer data from previous visits, along with a predictive understanding of what's needed for service to anticipate the customer's future needs. This is different from what a competitor can offer without the same information and creates loyalty. For focus strategy, using micro marketing can be very powerful. Basically, focus strategy is to focus on a particular market segment, and to be the best at serving that segment. With Micromarketing, you can gather information on; and market to; a very specific target audience. Additionally, analyzing using DEA can tell us which businesses are effective in serving specific audiences, and can enhance our ability to focus specifically on that segment.
2. What firm can you think of that began as world-class and has remained in that category even as it's grown? Why did you choose that firm? Disney - started as a leader in simply animation, though has grown to an experienced leader as its grown to its behemoth. I picked Disney for a few reasons, but mainly while Disney hasnt always been perfect, they have shown an ability to become a leader in various ways. Not only did Disney become a quality leader in Animation, but it moved into other hollywood industries, gaming, sports, amusement parks, etc. and always continues to live by its core values, and focus on the experience. The quality across all its business lines, even as the company grows to an enormous size, is admirable.
3. Are frequent flyer programs anticompetitive? Why or why not? I believe that they are somewhat anticompetitive. They create a barrier of entry to switching to another method of collecting airline rewards, while simultaneously not being flexible enough to meet consumer expectations of the reward, making the consumer jump through hoops to redeem (along with being very restrictive for where and how we can redeem). Additionally, you can gain rewards from flights that have deals with your employer, then funneling you into using the same airline for personal use without any cost toyou.
4. What ethical issues are associated with micromarketing? Micromarketing deals with the collection and use of data to market very specifically to consumers. Collecting info on behavior like spending habits and purchase history allows companies to be super specific in how they market, being able to anticipate life events and such, creating a more personalized marketing experience, and better anticipate new opportunities for business. The marketing can be intrusive, and the ethical concerns come in collection and housing of people's intimate information. How is the data collected, stored & used? Does the process put the consumer & their info at risk? Etc.
2. 1. For each of the three generic service strategies (overall cost leadership, differentiation and focus), which of the four competitive uses of information is the most powerful? - Overall cost leadership is a business model in which a company strives to be the lowest-cost provider in its industry while still providing products or services that meet or exceed industry standards. The most effective competitive use of information in this strategy is cost management. This is because, in order to achieve cost leadership, a company must first understand its costs and then control and reduce them effectively. This could include using data on suppliers, production processes, and distribution channels to identify and eliminate inefficiencies, as well as negotiating better input prices. A company may also use information on industry trends and competitor costs to inform its pricing strategy and identify potential cost savings.
2. What firm can you think of that began as world-class and has remained in that category even as it's grown? Why did you choose that firm? - Apple is one example of a company that began as world-class and has remained so even as it has grown. Apple has consistently released innovative and high-quality products that have disrupted and redefined their respective markets, such as the iPod, iPhone, and iPad. By focusing on design, simplicity, and a seamless user experience, the company has effectively managed its brand image to maintain its status as a premium brand. Apple's ecosystem of devices, software, and services is also a significant contributor to its success. This has enabled the company not only to maintain its position as a world-class firm, but also to grow and expand into new markets.
3. Are frequent flyer programs anti-competitive? Why or why not? - Frequent flyer programs may be viewed as anticompetitive because they can give certain customers an advantage over others, potentially leading to pricing and service discrimination. Customers who participate in frequent flyer programs, for example, may be offered discounts or upgrades that other customers do not receive. This can create an uneven playing field for customers and allow businesses to charge higher prices to non-participants.
However, one could argue that frequent flyer programs are not anti-competitive because they are available to all customers and serve as a way for businesses to reward loyalty. Furthermore, these programs may provide customers with benefits such as free flights, upgrades, or special perks.
4. What ethical issues are associated with micro marketing? - Privacy concerns are one of the ethical issues associated with micromarketing, as companies may collect and use personal information to target specific individuals or groups. This information may include purchasing history, browsing habits, and demographic data. The use of this personal information without the consent of the customer, or in ways that are not clearly communicated to the customer, can be viewed as an invasion of privacy. Furthermore, micromarketing may increase inequality by targeting specific individuals or groups with higher prices or less favorable offers. This may be perceived as unfair or discriminatory, leading to customer dissatisfaction or mistrust. Furthermore, micro marketing can lead to the exploitation of vulnerable groups, such as the elderly or low-income individuals.
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