Competitive marketing strategy

Competitive Marketing Strategy
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Competitive Marketing Strategy
From my perspective, the proposal my Home Plus management is unsustainable and
ineffective in the company’s effort to gain a competitive advantage in their sector of operation.
Essentially, the basic principle in gaining a competitive edge against rivals is focusing on the
customer. Evidently, price plays a vital role in influencing consumers to buy the company’s
product and leave those from competitors. Therefore, increasing the number of luxury products
will only serve to attract a small number of customers who can afford to purchase high-end
products. However, the majority group that could serve as consumers for the company and
enhances its competitive advantage belongs to the middle-class, which is sensitive to pricing.
Therefore, cost-effectiveness is critical to their purchasing power, an aspect that will lead to the
Home Plus being unable to attract more customers to buy their products, and consequently, fail
to gain a competitive advantage against its competitors.
Although the proposed strategy has its advantage considering that luxury products will
bring about huge returns on the company’s investment, it does not attract a large number of
people. Another positive impact of this approach is the fact that Home Plus will be able to
produce quality goods compared to its competitors, thereby attracting more consumers.
However, high-end products only serve a small portion that cannot make a significant change in
as far as improving the company’s competitiveness level is concerned. Better strategies should
be established that will make sure that the company targets customers more effectively than its
competitors. As a consequence, the company will be able to draw more customers from the same
pool than other businesses in the same industry (Woodruff, 2007). It is evident that the current
approach suggested by some members of Home Plus management is not effective and should be
reviewed to ensure better outcomes.
Woodruff, R. B. (2007). Customer value: the next source of competitive advantage. Journal of
the academy of marketing science, 25(2), 139.

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