It doesn’t matter whatever your field of business is, there would always be competitors. A very few companies have the advantage of monopoly. As a business person and a marketer, your plan is always to have a competitive advantage. Today, we’ll discuss offensive strategy, its types, and example. What is Offensive Strategy? An offensive strategy is when a business takes …
Competition is the basis of the success or failure of firms. It also controls the appropriateness of a firm’s activities that can affect its performance. Firms compete because they are looking for a competitive position in the industry. To gain a competitive advantage in the industry firms can choose differentiation strategy or cost leadership strategy. Firms with a cost leadership …
What is Word of Mouth Marketing? Word of Mouth Marketing (WOMM) is when a product influenced the customers so much that it becomes their routine dialogue. The customer keeps on sharing his experiences with others and advertises the product in the disguise. Companies and businesses encourage word of mouth marketing by organizing events, where customers communicate with other customers and …
Tesla Motors is an electric vehicle manufacturing American company. Elon Musk, Martin Eberhard, JB Straubel, Ian Wright, and Marc Tarpenning founded Tesla Motors in July 2003. The headquarter of the brand is located in Palo Alto, California. Tesla was a startup in Silicon Valley. The mystery behind the name of Tesla is a symbol of paying respect and tribute to …
Netflix is an online content producing and video streaming multinational company based in Los Gatos, California, USA. Marc Randolph, Reed Hastings, and Scotts Valley founded Netflix in 1997. Netflix provides products and services like videos on demand, recommendations, and gaming consoles. The company is operating its video streaming business empire worldwide approximately in 190 countries. Roundabout 195 million people are …
The prosperity of the economic setup of this world depends on the customers. That said, more customers would mean more sales and, ultimately, more profits. Or you can say that sales are a decisive factor in any business’s success. Businesses used several informal techniques in the past. People had to cover vast distances to search for new markets, faced many …
Marriott International Inc. is a chain of hotels and resorts multinational brands. Alice Marriott and J. Willard Marriott established the Marriott hotel and resort brand in 1957. The headquarter of the company is in Bethesda, Maryland, USA. Marriott hotel and resort has got approximately 665 location points in 131 countries across the world. They comprise 205,053 rooms worldwide. The brand …
There are two things you want to considering while doing business, where you want to go and how you want to reach there. Mainly there are two types of strategies offensive and defensive course of action to gain a defendable position in the market. But according to Michael Porter, three generic strategies can be used by the firms to achieve …
The Lego Group is a toy manufacturing Danish company. The flagship product, Lego, comprises of a variety of interlocking plastic bricks. They’re along with Minifigures and many other connecting parts. You can build robots, buildings, and vehicles by assembling those small plastic bricks. The brand, Lego, was founded in 1932 and has been producing interconnected brick toys since 1949. The …
Nintendo is a Japanese video game and consumer electronics multinational company. The brand started its journey in 1889 under the name of Nintendo Karuta and gained the legal status of a public company in 1960. The headquarter of Nintendo is in Kyoto, Japan. Nintendo started selling color TV games and video game consoles in 1977. The company acquired worldwide recognition …
