Week 9 Service Marketing

p Week 9 Service Marketing

language Locate an article on a company , or an actual company . Describe a strategy for changing the competitive position of the companys main products or services

s or services

Name of the organization : General Electric

Hypercompetition is the most favored in today 's new economy , not only there is greater competition but there is smarter and tougher competition . To attain a competitive edge amongst the various players in the industry , the company should adopt a competitor-oriented strategy which must be pursued to gain a

competitive advantage . The best strategy is to identify the weaknesses of your rival and attack those weak points in an intelligent manner and avoid looking at the strengths and aiming towards fulfilling them . Bill Gates rightly said that if one possesses the market , he possesses the profits too . Some of the entrepreneurial strategies for a successful life in the market are ( Being the Fastest and the Greatest - it 's a gambling plan , which invites every firm into the structure , shape , and appearance as expected by the industry rivals . Today 's mantra is , doing it more with less and do it faster , which defines economies of scale ( Hitting them where they are weak - the companies should convert competitors ' weaknesses into their strengths and competitors threats as their own opportunities ( Creating an ecological niche - every firm should create its own focus by following a monopoly market structure ( Provide a stronger and a vital Economic utility - in the form of possession , form , place , price and value ( Encourage creativity - Continually invest and empower in innovation and creation and maintain newer variety or products and services ( Think faster then the competitors - this is achieved only if firms have the capacity to anticipate , identify the trends and contemporary issues and create an environment which requires constant change and snatch those ideas and thoughts which strike at the right time . This is possible by adopting and implementing the newest technology ( Own what you sell , market and sell those services or products , which are the core competencies of the firm and not the support activities ( The firm should be very shrewd when it comes to being different in terms of speed , simplicity and self confidence as they are the hidden key areas which are normally sidelined by organizations and competitors

The niche and the bull 's eye for every organization to strategize their activities are distinctive capabilities (which cannot be replicated by competitors ) and reproductive strategies (which can be replicated by their competitors . Every firm should have the basic tangible distinctive capabilities (like - Intellectual property rights , exclusive licenses , statutory monopolies ) and intangible distinctive capabilities (like - brands , leadership qualities , knowledge and skills , team work culture , processes ) and reproductive capabilities (like - marketing capabilities , technical capabilities , financial capabilities , research capabilities ) as their weapon to counter attack competition

General Electric now has designed a structure to meet up to competition which focused on customer value , innovation and creativity globalization , commercial excellence , leadership in technology and segmentation of the market by proving on...