Firstly this research focused on internal marketing (Left circle), what is it? How it implement in organization and how IM lead to create value? And what is the output of IM in Bahman Motor Corp. Secondly, investigate the service business model of Bahman Motor Corp with focus on value proposition and value creation (Middle circle).Thirdly examine how Bahman Motor Corp innovate in service? What is the role of IM in business model and service innovation? What is its outputs especially in value creation and co-creation of value (Right circle) .As shown as figure 2.12 , value creation is the intersection point between all these concept (IM, BM, SI), it means the main aim of all of them is value creation. This research seek to contribute to explore the role of IM in BM to achieve value proposition and its effect on service innovation and mediating the effect of value proposition on IM and SI.Another purpose of this research is investigate the impact of IM and SI in value creation .the conceptual model (Fig 2.6) propose to tested by using SEM on Bahman Motor Corp .This company represent one of the …… …show more content…
Despite the importance of service innovation strategy as a competitive advantage in dynamic marketplace, still there is a limited research in SI especially in manufacturing organization ( Ulterback & Aberathy,1975) and limited research and knowledge of which strategies and resources in organization can help to achieve competitive advantages Spring & Araujo
To accomplish competitive advantage, and differentiation three elements are crucial; stating the strategies and practicalities, focusing on knowledge based behaviour, and improving the customer relationship management.(Slater and Narve 1995).
A competitive advantage exists when the firm is able to deliver the same benefits as competitors but at a lower cost (cost advantage), or deliver benefits that exceed those of competitors products (differentiation advantage). (QuickMBA, 2007) Creating this competitive advantage is produced using the organizations resources and capabilities b either a cost advantage or differentiated. Porter identified three basic strategies one of which is the cost leadership strategy. This strategy intends for the organization being the low cost producer in the industry. Such ways to lower prices include; improving process efficiency, vertical integration, and avoiding some cost for example.
Innovation is connected to the three strategies described above but it often involves more important changes to the product or service. As a strategy, it can imply the replacement of existing products with ones which are actually new, as opposite to correction and which imply a new product
Porter (1997) suggests in order to gain competitive advantages in the changing business environment, it is essential to design a generic strategy for the business: product differentiation or cost leadership. The competitive strategy is determined at round 2, when recognised our rivals held whole product profile which was the product differentiation strategy. To differentiate our strategy from rivals for competitive advantages, Digby designed to imply the cost
Royal Caribbean Cruise Ltd (RCCL) has two distinct supply chains which create a unique challenge. Each supply chain is managed by a Provision Master. The first supply chain includes all food, beverage, and lodging inventories that needed for the trips. The second supply chain encompasses “corporate spend” materials, such as office supplies, printing services, hardware and software, printed materials, computer supplies, marine consumables (spare parts, fuel, lubricants, any and all services associated with the ship maintenance and etc).
The business world is becoming more and more heated up as a result of the ever increasing levels of competition. Each and every industry is witnessing an alarming rate in the number of competitors that exist within it. This is further fueled by the increasing world population, which brings about the speculations that the future of the market is rather bright. It is interesting as to how many things are nowadays done based on speculations and future expectations. In the turmoil of it all, marketing has been established as a very effective tool used by various firms to gain competitive advantage over others. As such, each organization has been able to develop its own marketing strategy based on the various things that affect the industry and the nature of business undertaken. Theories and practical research are two major items that form the basis of development of marketing strategies. Rolls-Royce is one of the many organizations that have been in big business for a long time. As such, the company has been able to identify major areas of strength and weakness when it comes to marketing.
The BMC represents the centrality of capturing and delivering the value proposition, and the focus of creating value with revenue in return. Furthermore, the BMC acts as a function for communicating between business managers, business model designers, customers, and partners. Conversely, it recognises clear limitations, by the absence of external factors and the tool focusing internally, aimed at what, how, and when the company delivers products and limits detailed canvas descriptions. Further, the BMC excludes the business mission, vision, measurable goals and objectives, and a competitive strategy, for coping with external harm to the company, such as competition, market factors and other external
Innovation has rapidly assumed a position of prominence in world competition on a global scale. To compete in this environment, organizations need a level of innovation. As competition becomes more global and time-based, organizations must develop and deliver new and superior products or services in less time. The challenge for modern organizations is to revitalize them so they can successfully and continuously develop newer products and enhance business development.
This work will determine the baseline of the current market situation for the company, which is essential for any further exercise and analysis. To understand how the business model correlates with the product marketing, need to see if there is any evident cause-effect relationship between product characteristics and the nature of the product company. If such correlation exists, it will be important to see the transition of such characteristics into the company marketing strategy. It can show how company’s strategies can be successfully addressed in a real-world scenario. Both internal and external analysis, SWOT matrix will help to determine the company’s current market position.
Thompson, A.A., Strickland, A.J., & Gamble, J. E. (2010). Crafting and executing strategy: The quest for competitive advantage: Concepts and cases: 2009 custom edition (17th ed.). New York: McGraw-Hill-Irwin
It is a well-known fact that marketing is a way to get the business off the ground. Without marketing, then no one will know about the goods and services a brand is selling. “Good marketing makes the company look smart. Great marketing makes the customer feel smart.” (Chernov).
Everyone wants a competitive advantage in this world. A competitive advantage is like a golden ticket to wealth and riches, to a world where your company rules. If one’s organisation is on the higher ground it is always perceived as an advantage over the competition. But that’s just fiction. We all know it’s not just sunshine and roses. It takes a lot to get to the top and be the best and sometimes the road can be challenging and full of holes and boulders that need to be overcome or pushed aside to achieve your goal. There are four approaches of generic strategies. They are one, “Cost Leadership (no frills)”, two, “Differentiation (creating uniquely desirable products and services)”, “Focus (offering a specialized service in a niche market)”. Focus was divided into two parts, “Cost Focus and Differentiation Focus”
This strategy emphasizes the use of an organization’s resources and capabilities to achieve a core competence that cannot be imitated by competitors. Furthermore, the resource based school argues that if an organization distinctively improves its internal capability; that is being able to have effective inside machinery to deliver products and services to customers, the organization will enjoy a massive advantage in the market. This school also argues that in order to have a competitive advantage, an organization must have resource and capabilities that are sophisticated to those of competitors (QuickMBA, 2010).
A service firm performance is usually measured in terms of quality. Nevertheless, these performance measurements can also be measured in terms of time, flexibility and cost, and they can also be used by a manufacturing company. In order to analyze the measures, I will divide them to the three main parts of operations, input – process – output:
One of the most integral qualities of an entrepreneur as well as that of a successful business is the degree of innovation it possesses. Innovation refers to the creation of new ideas, improvement of existing production processes, and effective problem solving. Innovation allows for increased efficiency in a business, which in turn increases its supply potential and productive capacity. Being innovative may involve either improving upon old methods o...