To install StudyMoose App tap and then “Add to Home Screen”
Save to my list
Remove from my list
Our vision is to establish ourselves as a leading force in the industry. With a strong foundation of innovation, we aim to capture over 50% of the market share in both high and low tech sectors. This will be achieved through the production of cost-effective low tech products and the development of cutting-edge high tech products. Our customer-centric approach to product positioning is crucial in attaining a healthy profit margin of 30% and above. Furthermore, by prioritizing Corporate Social Responsibility (CSR), we seek to bolster investor confidence and achieve a remarkable stock growth of over 375%.
Our overarching strategy is centered around becoming a dominant industry player by securing significant market share in both high and low tech markets, all while maintaining robust margins and stock prices.
Our business activities will be strategically focused on becoming a cost leader with a product lifecycle emphasis in the low tech sector, and a differentiator with a product lifecycle focus in the high tech sector.
In the low tech market, we will streamline our Research and Development (R&D), production, and material costs to compete effectively based on pricing.
Verified writer
Proficient in: Competitive Advantage
4.7 (235)
“ Amazing writer! I am really satisfied with her work. An excellent price as well. ”
On the other hand, in the high tech market, we will set our products apart through customer-centric R&D, attractive designs, high brand awareness, and easy accessibility to stay ahead of the competition.
We plan to price our high tech products above the market average and scale up production capacity in response to demand. Our product lifecycle strategy involves introducing new products in the high tech segment and allowing them to mature in the low tech segment.
This approach will extend the lifespan of our products in the market. As our strong products gain traction, we will focus on reducing debt and repurchasing stocks to enhance their value and appeal to investors.
Moreover, we will invest in capacity and automation early on to ramp up production capabilities and drive down costs across multiple product lines. These strategic investments will be ongoing throughout the simulation to meet product demand and maximize profitability.
At Erie 88, our goal is to push the boundaries of innovation in both high and low tech markets by offering cutting-edge products and cost-effective solutions. We will heavily invest in automation for our low tech products and prioritize R&D to maintain a competitive edge. Additionally, we will allocate significant resources to marketing to generate maximum awareness, particularly for our high tech offerings.
To achieve superior performance, our competitive advantage will stem from minimizing production costs in the low tech sector and delivering appealing designs in the high tech sector. Erie 88 aims to dominate both markets with a diverse product portfolio, with a strong focus on investing in R&D for high tech sensors right from the outset.
Building high customer awareness for each new product launch is a critical component of our product strategy. Substantial investments will be made in the promotional budget for each product well in advance of its release. Automation will be a key driver in cost reduction efforts. Our customer-centric approach to product development will guide us in implementing strategies such as leveraging long-term debt and issuing stock to finance operations, followed by debt repayment in subsequent rounds to boost stock value and overall financial health.
By operating as a profitable, innovative, and socially responsible entity, we aim to earn the trust and respect of our employees, customers, and investors. A strong stock performance and satisfied shareholders will enable us to not only enhance our product offerings and customer satisfaction but also support philanthropic endeavors and environmental initiatives.
Strategic Vision for Market Dominance. (2016, Aug 14). Retrieved from https://studymoose.com/strategy-memo-essay
👋 Hi! I’m your smart assistant Amy!
Don’t know where to start? Type your requirements and I’ll connect you to an academic expert within 3 minutes.
get help with your assignment
