There are several advantages of segmentation. 1) Company focus - Targeting market segments is one the most effective way which helps in increasing the focus of a firm. Better focus leads to better returns. Companies generally base their marketing strategy completely on a target segment which in turn increases the firm’s focus and also profitability. 2) More competitiveness- generally, once the firms focus increases then the competitiveness in the market will also increase.
Its business strategy makes sense, and that could be proved by its steady growth and strong profits. And with this strategy, it could pursue high-net-worth individuals, in Dimensional Fund Advisors, 2002 1. What is DFA’s business strategy? What do you think of the firm? Are the DFA people really believe in efficient markets?
MGT 311 Final Exam The theme of MGT 311 Final is to enable students learn about the organizational behavior, different motivational strategies and other human resource practices that will be helpful in the future career. There are various topics in the MGT 311 Final like communication strategy, motivational strategies, conflict resolution strategies, span of control, etc. There is also the inclusion of concept of change management which is important for the person to learn to make the change process effective and smoother. MGT 311 strategy plan is also taught in the course that helps in formulating the strategies for the organization to let employees work to achieve the mission and vision. In the MGT 311 Final Exam, there will be different multiple choice questions that will be provided to the students to test their understanding.
By diversifying, P&G is assured of reliability of cash flows and is better placed to withstand challenging economic times (Cooper & Mills, 2005). The fourth component of P&G’s drivers of success is industry leadership. P&G aspires to be a market leader in innovation, product ranges and sales. It works towards this objective though branding, going to its markets and creating and capturing scale of operations. 2 P&G operates in a highly competitive environment.
One of the advantages of this strategy is that it enhances profit opportunities not only for the dealerships but also for the company. When the dealers are able to sell more the company also makes more profits. Another advantage of this strategy is that it strengthens the relationship between the company and the dealers creating a loyalty. One of the disadvantages of this strategy is that it may increase cost for the organization. Advertising and promotion requires funding and may increase the cost of distributing products.
Since “value reflects the sum of perceived tangible and intangible benefits to customer” (Kotler & Keller, Pg. 14), this technique offers as profitable marketing strategy to retail stores. Value is important because it provides customer satisfaction. “Satisfaction reflects a person’s judgment of a product’s perceived performance in relationship to expectations” (Kotler & Keller, Pg. 14).
There are also others that deliberately hold inventory, as seen by Mustafa Singapore; an enterprise who exceled in holding a large quantity of inventory but yet managed to appeal to a wide variety of customers using high product mix. Their strategy entails bulk purchases which are directly imported from suppliers, achieving bulk discounts and lower ordering intervals. In return, they are able to transfer the low cost to customers (Ahmad, 2005). For production firms, it meant attaining economies of scale through cost-efficient product runs. Such firms tend to enjoy product flexibility as their goods are easily available to the masses.
The uniqueness in positioning added value to Progressive’s service, and thus enabled Progressive to gain higher consumer’s WTP comparing with its main competitors in standard segment arena. Progressive, on the contrary, differentiated itself from its competitors by increasing service quality and providing value to its customers. Progressive’s efforts in providing better service to its target customers includes investing heavily in collecting and analyzing data, providing customer with wider choice of payment plans; using technology to increase to compare quotas with more convenience; implementing “immediate respond” system to realize /7. By doing so, Progressive earned a group of loyal customers for its quality services. Progressive’s superior value in its services contributed to high WTP of its target customers.
This is important because cost-plus contracts have several advantages. In fact, a major advantage of this type of contract is flexibility. In a project such as The Chunnel, where changes are inevitable, a cost-plus contract allows these changes without much difficulty. For procurement purposes, I feel this was an extremely smart move. Project Management Area Strengths Major strengths for this project from a project management stand point can be seen when considering quality.