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Competitive positioning strategy and generic recommendations for management 1042 Essay Example

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Competitive positioning strategy and generic recommendations for management 1042

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Baumeister and Leary (2005) noted that customers today are highly enlightened about value creation, a reason for which they would select value as the best force factor for doing business with one company and not the other. This is where competitive positioning becomes an important phenomenon for the companies. This is because competitive positioning has been explained to be the process of identifying a company’s value relative to what competitors have (Magadley & Birdi, 2012). Competitive positioning is very important in acting as the first step to business growth. This is because it is only when the values within a company are known that the best means to utilize these to lead to growth can be talked about (Adler, 2002). It is not surprising that competitive positioning have always been linked with competitive advantage, which explains the factors and conditions within a company that makes consumers choose that company other that of other competitors. With the explanation given to competitive positioning, one gets the understanding that an accurate identification of a company’s values can ensure that companies are able to engage in competition by either trying to stay ahead of competitors in terms of value or catching up on competitors who may have better value (Brown & Scott, 2011).There are a number of theories and models that have been used to support the validity of competitive positioning as the starting point for any business growth agenda. One such theory or model is Bowman’s strategy clock. Bowman’s strategy clock has simply been referred to as a model that makes it possible for businesses to make sense of eight competitive positions within any typical market. This means that the Bowman’s strategy clock offers the company’s the competitive positions, based on which they are able to determine where they are or could best be to create value (Kotler, 1997). The eight aspects of the model and how they explain competitive positioning in theory have been presented in this section. By rightly developing their competitive positioning strategy, companies are then offered the opportunity of basing on these to achieve competitive advantage (Brown & Scott, 2011). This is because the competitive positioning strategy equips companies with they can do differently to achieve growth.Using the low price/low value

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preview essay on Competitive positioning strategy and generic recommendations for management 1042
  • Pages: 12 (3000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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