Discuss about the Marketing Strategy for Achieving Competitive Advantage.
The strategic management is the key source of achieving competitive advantage. Each of the organisations takes the proper strategic decision to ensure the best outcome and strengthen the competitive position in this current business scenario. The different types of the strategic decisions make the efficient management functionalities (Schilke 2014). Therefore, it is necessary to make the effective strategic decision, which will help in strengthening the organisational position in a competitive business scenario. The companies selected the different strategic approaches for maintaining their competitive position. The study will highlight the strategic implementation of Toyota to achieve the sustainable competitive position. On the other hand, the study will also focus on the international marketing management of Nestle to achieve the competitive advantage. The theoretical analysis and the evidence based case study analysis would provide the insightful idea about the strategic management of these companies.
The case scenario is highlighting that Nestle has achieved the leading position in selling the dairy products. However, in order to achieve the competitive advantage, the company started concentrating on expanding the business internationally (Peck et al. 2013). The supports from the international market along with the customers have been quite beneficial for the company. In order to accomplish the determined goals, the management started concentrating on the fruitful strategies to draw the attention of the customers. It is noted that the achievement of customers’ satisfaction level is the major key to achieve the sustainable position as well as the competitive advantage (Cms.iuf.org 2016). The company paid attention on towards the market campaigning, which was selected as the major promotional activity. Product promotion through the visual demonstration is one of the most effective strategies that a company can use for expanding the business. The market campaigns provide the customers an attractive demonstration process, which specifies the product features and the proper packaging style. The customers become aware of the product features and benefits that they can receive after consuming the products. The market campaigns are also providing some benefits, such as discounts, gifts, and visual demonstration of the products that can be more attractive to the customers. Hence, promotion is one of the major strategic decisions for achieving the competitive advantage.
On the other hand, if concentrated on the case scenario of Toyota, it is noted that the company has undertaken a unique strategy to maintain the competitive position. The company has focussed on maintaining the ethical responsibility to remain much competitive in this current business scenario (Ihlen and Roper 2014). The maintenance of the corporate social responsibility is one of the integral parts of the company, which helps in sustaining in a competitive scenario. First of all, this automotive company noticed that due to the enormous emissions of fuels, the environment has been affected much prominently. Concentrating on such issues, the company started developing the technological features to make less emission of carbon-dioxide and air polluting elements (Rapp 2010). The company has undertaken several innovative ways to use the automobile vehicles. Especially, the company has concentrated on the promoting the green investment in ensuring the environmental welfare. The maintenance of the environmental welfare is essential since it determines the future sustainability. Most of the automobile company fails to maintain the environment ethics due to the heavy emissions of pollutants from the vehicle. However, the initiative undertaken by the company is much appreciable in terms of maintaining the ethical manner. Hence, the approach is much remarkable for the company due to which it has achieved the true form of competitive advantage in recent times.
If concentrated on the theoretical description of the strategy undertaken by Nestle, it is noted that the company has undertaken one of the most fruitful strategy that can ensure the strategic position in the competitive market. While expanding the business in the international market, it is necessary to undertake the proper strategy for launching the products and making people aware of the product features (Campbell, Coff and Kryscynski 2012). Most importantly, it is essential to promote the brand among the internationalised customers. Concentrating on such requirements, the establishment of 4p’s of ‘marketing mix’ is much beneficial. The marketing mix is associated with four major elements that are connected to the business expansion process. These four elements are- product, place, people, and promotion. Keeping the focus on these elements is essential because, it helps the companies to clear their vision in selecting the target market and group. Similarly, once the target market and distribution channel is selected, it is essential to understand the proper medium of making the people aware of the brand (Sahay 2013). Many of the companies select different media channel to promote their brands and gather the crowd. However, marketing campaign is one of those fruitful strategies that are beneficial in making people aware of the product feature by providing them live demonstration. In this marketing campaign, a small survey can provide the knowledge about customers’ preferences. Once the company is aware of the needs and demands of the customers, it would be much helpful for them to develop their products and distribute them among the target customer group. Hence, it can be interpreted that the marketing campaign is much beneficial for the companies to understand the needs of the customers and achieve their satisfaction level (Barney 2012). Accordingly, more supports from the customers help the companies to achieve the competitive advantages as well.
Another most fruitful strategy for achieving the competitive advantage is the maintenance of the corporate social responsibility. In order to gain the sustainable management, the companies need to pay attention towards the environmental factors. While establishing the business entity, environment plays the most significant role for the future sustainability. If any of the company fails to maintain the ethical responsibilities towards environment, it becomes much difficult for the survival purposes (Wagner III and Hollenbeck 2014). More specifically, in the automotive industry, the emissions of pollutants are much higher. It may pollute the environment and can affect the lives. Concentrating on such aspect, it is necessary for the companies to take care of the social environment. The business ethics is needed to be maintained for the future sustainability as well as for protecting the society. Hence, it is noticed that the automotive industry has been utilising the innovative technologies to make lesser consumptions of fuels. The use of the innovative technologies has made the vehicle consume less fuels or energy, which may pollute the environment in a significant way. Moreover, some of the solar vehicle is also much beneficial for protecting the environments from pollutants (Bharadwaj, Varadarajan and Fahy 2015). Hence, it becomes easier for the company to communicate with the environment and derive ideas about the basic needs. The promotions of the green environment will be much helpful for each of the company to survive in this competitive scenario.
It is to be indicated that each of the business companies create the unique mission and vision for fulfilling the determined purposes. The unique decision making process contributes more efficiency to the organisational functionalities. While some of the companies pay attention towards establishing the proper communication channel, some other companies focus on maintaining the corporate social responsibilities. Product promotion through the visual demonstration is one of the most effective strategies that a company can use for expanding the business. Society is one of the major concerns that determine the satisfaction level of the customers. If the companies achieve such satisfaction level, it ensures their sustainable position in the market. Moreover, the current business market has become much competitive. Hence, it is essential to keep the focus on the customers’ benefits. The support from the customers is one of the most significant criteria to achieve the competitive advantage. Adopting the innovative technologies is also much needful for the company to cope with the latest trends. However, one of the major aspects that each of the companies need to keep focus on is the maintenance of the quality parameter. The products or the services provided by the company are required to be higher in quality that can draw the attention of the customers. The establishment of the brand identity is also much necessary for determining the sustainable future of the company. Hence, it is the most important part to communicate with the outer environment and maintain the sustainable approaches to remain much competitive. Similarly, product promotion is one of those efficient strategies that help the customers to understand the features and benefits for their uses. Once they become aware of the benefits, it becomes easier for them to select the relevant and needful products. Hence, product promotion is also much necessary to implement the strategic functionalities and achieving the competitive advantage in this business world.
Conclusion
The study is highlighting the strategic implementation of Nestle and Toyota to achieve the competitive advantage. The companies selected the different strategic approaches for maintaining their competitive position. Nestle decided to expand their business in the international market whereas Toyota started contributing in maintaining the sustainable position. Nestle has undertake the marketing campaign strategy to make the people aware of the product features and brand. On the other hand, Toyota has paid attention in improving the corporate social responsibility to remain much competitive. It is necessary for the companies to implement the plan according to the benefits of the sustainable management functionalities. The achievement of customers’ satisfaction level is the major key to achieve the sustainable position as well as the competitive advantage. The company paid attention on towards the market campaigning, which was selected as the major promotional activity. The unique decision making process contributes more efficiency to the organisational functionalities. If the companies achieve such satisfaction level, it ensures their sustainable position in the market. Moreover, the current business market has become much competitive. The use of the latest and innovative technologies is also much beneficial to achieve the competitive advantage more specifically.
References
Barney, J.B., 2012. Purchasing, supply chain management and sustained competitive advantage: The relevance of resource?based theory. Journal of Supply Chain Management, 48(2), pp.3-6.
Bharadwaj, S.G., Varadarajan, P.R. and Fahy, J., 2015. Sustainable competitive advantage in service industries: a conceptual model and research propositions. In Proceedings of the 1992 Academy of Marketing Science (AMS) annual conference, Springer International Publishing (pp. 441-443).
Campbell, B.A., Coff, R. and Kryscynski, D., 2012. Rethinking sustained competitive advantage from human capital. Academy of Management Review, 37(3), pp.376-395.
Cms.iuf.org, 2016. [online] Available at: <https://www.iuf.org/sites/cms.iuf.org/files/NESTLE%20.pdf> [Accessed 2 Dec. 2016].
Ihlen, Ø. and Roper, J., 2014. Corporate reports on sustainability and sustainable development:‘We have arrived’. Sustainable development, 22(1), pp.42-51.
Peck, H., Christopher, M., Clark, M. and Payne, A., 2013. Relationship marketing. Taylor & Francis.
Rapp, W., 2010. Automobiles: Toyota Motor Corporation: Gaining and Sustaining Long-term Advantage Through Information Technology. The College of International Relations Ritsumeikan University, pp.25-50.
Sahay, A., 2013. A Customer Oriented Approach to Identifying Competitive Advantage (No. WP2013-05-08). Indian Institute of Management Ahmedabad, Research and Publication Department.
Schilke, O., 2014. On the contingent value of dynamic capabilities for competitive advantage: The nonlinear moderating effect of environmental dynamism. Strategic Management Journal, 35(2), pp.179-203.
Wagner III, J.A. and Hollenbeck, J.R., 2014. Organizational behavior: Securing competitive advantage. Routledge.
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