Read in the Participants Guidebook the section called “The Competitive Factors that Drive Market Share (p. 6-10) which describes “11 competitive determinants of sales and market share in play in each camera segment in each geographic region.”
Refer to the example strategies to use (p. 8-9), and formulate a strategy that you plan to use for your company. Consider things like how you might differentiate your company from the others. Decide on the strategy or combination of strategies you want to implement moving forward, and formulate a plan for execution. How will you assess the effectiveness of this strategy? What “turn-back point” might you establish to alert you to when changes to the strategy may be necessary? Keep this strategy in mind when you make your decisions for the upcoming rounds. Keep in mind that a drastic change in strategy may hurt results in the short-term, but this is about the big picture. You want to implement a strategy that will be successful and possible in the long-term.
What to Submit:
After reflecting on the above, submit your responses in a Word Document through this assignment by the deadline. At a minimum, you should address:
- Describe the strategy or strategies you intend to use for your company. Why? What are your goals with this strategy or strategies?
- How do you plan to execute this strategy or strategies?
- What turn-back points might you establish to alert you when strategy changes may be necessary?