A key component to finding a firms place in a market is closely associated with the “strategic group map” created by McKinsey consultants in 1996 (CITE). Using the strategic group map a company can identify competitors and positioning against rival venues. After analyzing within a 50-mile radius, 8 Movie theaters, two malls, ice cream shops and Splash Down Water Park were found to be main competitors. Positioning on the map consisted of Duration of Expenses on the vertical axis and expense, respectively low to high. Among other competitor’ The Hudson Valley Renegades were places at mid expense with a high duration of experience deeming it an overall attractive market to consumers.
When evaluating potential success of an innovation, identifying new entrants can assist creating a barrier to entry to maintain customer loyalty. Two new entrants were found to have the ability to directly compete with the Hudson Valley Renegades. Less than an hour from the home of the Renegades, Saugerties New York is searching for a minor league team for their newly renovated stadium. Various prosective teams have been contacted for possible contact signing for the stadium. Though no agreement has been made the town of Saugerties assures they will have a team within a few years (CITE SAURGERTIES TIMES 2013). A second entrant threating the Renegades is local created Adult Baseball and Softba ll leagues. These local teams are increasing in popularity every year (FIND STATISTIC AND CITE). These teams are community based and the increasing popularity have the ability to affect the Renegades.
Supplier and Buyer power significantly affect a company’s ability to generate profit. Identifying strengths and weaknesses further elaborate on the company’s standin...
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... to the public. The Renegades also excel in promotions driving sales and promoting business. The Renegade’s weaknesses include having a short season and semi-professional players. A short season only allows for a limited window of generating profit. Semi-professional players do not compete at the same level as a major league team thus spectators are less interested in the game and focus more on the activities and promotions the Renegades offer. The Renegades have few opportunities to maximize profit and create the desired family friendly atmosphere. Expanding the stadium to hold a larger occupancy, using marketing techniques to sellout the average one hundred empty seats per game, create a new promotion to get fans excited are all opportunities the Renegades has to maximize profit. The threats facing the Renegades include entrants, substitutes, and a poor economy.
Associated Wholesale Grocers (AWG) came into being more than eight decades ago when several independent retailers decided that the power of a cooperative far outweighed the influence of any one individual retail grocer. AWG provides distributor services to independent grocers in over 30 states with nine distribution centers throughout the South and Southeast regions of the country. In addition to their wholesale foods department, AWG offers a myriad of services from new store design, construction, marketing, product placement and “world class” logistical consultation (cite 11). AWG faces many of the same logistical challenges that other similar wholesalers face to include rising fuel costs, inclement weather, stringent timelines and an ever evolving need for stringent quality. One method to exploit a business’s positive and negative attributes is through the use of a Strength-Weakness-Opportunity-Threat analysis, or SWOT analysis (Cite 11). If used correctly, the analysis results can give insight into potential market areas of expansion and expose vulnerabilities to senior leadership so that they can be mitigated. AWG looks at its Supply Chain Management (SCM) as an integral part of its core business offering multiple services such as logistics to new co-op members. The team members of AWG are positioning themselves for sustainable success, now and in the future.
Kerin, Roger A., and Robert A. Peterson. Strategic marketing problems: cases and comments. 12th ed. Upper Saddle River, N.J.: Prentice Hall, 2010. Print.
Hooley, G., Piercy, N. F., & Nicoulau, B. (2008). Marketing strategy and competitive positioning (4th ed.). Upper Saddle River, NJ: Pearson.
They first want to know, within the market for the potential location, who are their direct rivals? The demographic information they have collected will help in determining this. They’ll also want to determine the size of these rivals, and what their performance is within the market. Assessing popularity, as well as strengths and weaknesses of direct competitors will be helpful in determining how Eddie Bauer’s performance could match up against their competition, as well as how they might gain competitive advantage. Not only will the new store’s performance be affected by its surrounding competitors, but taking a look at competitor performance can help them to determine the popularity of these types of products within that market. (Aaker, Day, Kumar, & Leone,
In determining the competitive intensity and attractiveness of the market, Porter’s five forces is a framework that would help analyze the manufacturing industry of Lincoln Electric and observe the external and internal environmental factors that influence business strategy development for companies within the industry. The five forces are assumed to determine competitive power in a business situation in which these five forces are Supplier Power, Bargaining Power, Competitive Rivalry, Threat of Substitution, and Threat of New Entry.
1) For a channel to succeed four location decision factors are considered; economic conditions, competition, the strategic fit, and the cost of operations. Stores need ...
Bargaining power of suppliers analyzes how much power a business 's supplier has and how much control it has over the potential to raise its prices, which, in turn, would lower a business 's profitability. (Arline, 2015).
A loss to value added is when you have two professional sports team within a good driving distance of each other. “Incumbent owners have made it clear...
Abstract: The Stadium construction boom continues, and taxpayers are being forced to pay for new high tech stadiums they don’t want. These new stadiums create only part-time jobs. Stadiums bring money in exclusively for professional leagues and not the communities. The teams are turning public money into private profit. Professional leagues are becoming extremely wealthy at the taxpayers expense. The publicly-funded stadium obsession must be put to a stop before athletes and coaches become even greedier. New stadiums being built hurt public schools, and send a message to children that leisure activities are more important than basic education. Public money needs to be used to for more important services that would benefit the local economy. Stadiums do not help the economy or save struggling towns. There are no net benefits from single purpose stadiums, and therefore the stadium obsessions must be put to a stop.
The purpose of this case analysis is to provide a framework for making strategic marketing decisions by: 1) documenting the internal and external environment, 2) understanding the strengths, weaknesses, opportunities and threats, 3) identifying the opportunity, 4) developing and evaluating alternatives, and 5) make a recommendation based on organizational strengths.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
A key part of an organizational strategy is to identify market opportunities by finding a niche or a gap in the marketplace that they can pursue to take their company ahead of all their competitors. An organiz...
In Michael Porter’s article “The Five Competitive Forces That Shape Strategy”, he explains that business leaders and strategists should focus on the “industry structure” for more profits instead of focusing narrowly on its direct competitors because there is better profit beyond its rivals. Moreover, Porter emphasizes the importance of five forces in the industry competition, which are: “threat of new entrants, bargaining power of buyers, threat of substitute, bargaining power of suppliers, and rivalry among existing competitors”. I believe that thinking structurally about the businesses and understanding the five competitive forces will improve a company’s performance in its industry in a long run.
So, furthermore, it is quite easy to enter and exit the market however, brand loyalty can influence how well your event planning does in the industry. Thus, consumers tend to look at the level of knowledge, expertise, and experience many event planning businesses entails in order to differentiate one from other competitors. Therefore, you tend to see that many consumers generally base their decisions and choices on if they have utilized the services previously, does the company have a great reputation, is the company known for exceptional services and events, and does other consumers speak highly about the business. All these factors contribute to how well a company excels over its competitors in the market. Moreover, these attributes and qualities brings forth and bridge brand loyalty among its consumers and potential consumers looking for quality services and companies within the event planning business and causes many event planning businesses to stand out and reign supreme over others. All the more making it harder for other incoming event planning business to excel due to others in the industry have the upper hand when it comes to knowledge and expertise according to many
The task of this assignment is to complete a competitive analysis of two of the largest competitors in the industry of chosen study. This researcher’s chosen field is the Car Wash industry. Unlike many industries, the Car Wash industry does not have dominant players or franchise names that rule across the country. Unlike other automobile related industries such as oil change (Rapid Oil Change), tires and batteries (Goodyear), and auto parts retailers (NAPA), where these types of name players may have thousands of locations throughout the country, there are no big name players in the Car Wash industry. Although there are companies that own and operate multiple car wash facilities, most of these multi-location owners operate multiple locations throughout a metropolitan or regional area and their overall location totals are nominal. Since there is a lack of dominant competitors to analyze, this researcher will focus on an analysis between the two main categories of car wash ownership: full service vs. unattended operations.