Автор работы: Пользователь скрыл имя, 30 Июня 2015 в 16:28, курсовая работа
A competitive advantage refers to the position of superiority within an industry that a firm has developed in comparison to its competitors. Firm level competitiveness indicated a firm’s ability to design, produce and market products superior to those offered by competitors, where superiority can be evaluated from several factors, like price, quality, technological advancement, etc. Competitiveness can be considered at different levels of aggregation: firm, industry, and country.
Introduction …………………………………………………………………………………..…….3
Chapter I …………………………………………………………………………………………....4
Types of Competitive Advantages …………………………………………………………...5
Marketing strategy …………………………………………………………………………...8
Branding as a way to increase competitiveness ………...…………………………………………………………………………………………..…9
The various forms of Branding …………………………………………………………...….13
Conclusion….. ……………………………………………………………………………....12
Chapter II Marketing strategy of McDonald’s Corporation ……………………………………………………………………………………….……………...13
2.1. Business Strategy…………………………………………………………………….…...……15
2.2. Mcdonalds s marketing mix (5PS) strategy…………………..……………………………………………………………...…………..17
2.3 Competitive Strategy ………………………………………………………………...………....18
Conclusion …………………………………………………………………………………...…..…20
Bibliography …………………………………………………………………………………...........21
CHANGE IN STRATEGY
Made for You
McDonald s organization recently underwent drastic strategy changes to serve better to their customers. Under their old system, ́ the company would make several sandwiches at once, and hold the sandwiches in a warming bin until purchased by a customer. Under this system, management had to accurately predict how much food had to be put on hold. Accurate prediction had to be used because if there were not enough food placed on hold, this would create the problem of increase waiting times for customers, and too much food would cause waste of expired items. McDonald s dramatically changed their strategy in order to stay competitive with other fast food organizations. In 1999, McDonald s spent $181 million to introduce their Made for You ́ system. Under this new system, standard food items are not held in a bin until they are sold. In the Made for You ́ system, modern technology greatly assists McDonald s operations. When a customer places an order, the sandwich items are immediately displayed on a computer monitor in the kitchen and a tone sounds to alert the kitchen staff. Upon a new order, an employee in the kitchen will toast the bun, and assemble the sandwich accordingly. Standard items simply list the name of the sandwich, while customized orders list the sandwich name and the desired condiments. Once the sandwich is assembled, it is presented to the food loading area, where a different staff person retrieves the sandwich and completes the order by adding French fries, desserts, etc. The system works the same for front counter orders as well as drive-thru orders. Unfortunately, the introduction of the Made for You ́ system did not come easily. McDonald s watched its customer satisfaction drop for the three consecutive years beginning in 1999. After further research, they realized that although the new system provided fresher food, it was not as quick as the previous system. Instead of reverting back to the old system, McDonald s continues to fine tune Made for You ́ and add new options to help the system work faster.11
Revitalization Plan
In order to cope with the first ever quarterly loss that resulted from inefficient use of the Made-for-you-system McDonald s has devised a new plan to increase profits. Previously, the corporation emphasized adding more restaurants to increase sales, but the new plan places emphasis on increasing sales at existing restaurants.
The new plan will reduce spending, to enable more cash to shareholders through dividends and share repurchases. Specific goals of the revitalization plan are to:
The main goal is to increase sales by creating an exceptional customer experience. McDonald s plan is to achieve this goal by focusing on its people, products, places, prices, and promotions.
SWOT ANALYSIS
Strength |
Weakness |
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1) Low depth and width of product |
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| |
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Opportunities |
Threats |
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2) Increased competition from local fast food outlets. |
2.4 CONCLUSION
Marketing Strategies implied by McDonald s clearly gives the entire comprehensive information that is necessary for the growth and development of a business enterprise. Basically, the strategies that are implemented by McDonald s includes many basic essentials features like market research, innovative ideas, customers views, forecasting consumers demand, planning, organizing etc, these are the few basic essentials elements that plays a vital role for the successful business and also in creating the brand name of a product. Today, in this fast moving dynamic world the demand for goods and services are increasing at an alarming rate due to which there is greater competency and competitors ruling in the market. Therefore, most of the companies adopt different types of marketing strategies in order to serve their customers in a more better and efficient manner than their competitors so that, their business can easily survive in the market. Even corporate companies are implementing various strategies from past many years. This shows that marketing strategies provides competitive edge for
every business unit.
Conclusion
Summing up my course paper I would like to say that it is incredibly important to know methods of increasing competitiveness. Todays market is practically full and the level of competition is really high and this fact emphasizes its particular revelance. Such methods as an efficient competitive strategy or choosing the right organizational structure play rather huge role in further growth of the company. It is necessary to add that can be intended as achievement of company objectives. Hence, performance should be measured in terms of how an organization manages its critical success factors.
The level of competition in product markets can also be improved by deregulation to reduce barriers to entry, though this has its limits as some regulation is needed to protect consumers and employees from unfair practices. In addition, privatisation of industry is also likely to improve competitiveness, but there are few industries left in the UK for example to privatise. Finally, reducing monopoly power through regulation and competition policy are strategies that can be effective in creating a more dynamic and competitive micro-economy. However, it can be argued that monopoly power helps generate some dynamic efficiency, and the advantages of economies of scale might be lost if monopolies are broken up.
In that termpaper I tried to look through different aspects of competitiveness for understanding how the company can make its product the leader on the market. I also mentioned about key moments of a successful strategy, because the company without a good strategy is doomed to fail. I hope that I uncovered all necessary moments of that huge part of strategic management and it will be useful for future managers.
BIBILOGRAPHY
1 Michael Eugene Porter (born May 23, 1947) - a leading authority on competitive strategy and the competitiveness and economic development of nations, states, and regions.
3 Jackson, S.E. and Schuler, R.S. 1995. Understanding Human Resource Management in the Context of Organizations and their Environment. Annual Review of Psychology, 46: 237–264.
4 human resources management
5 Keller, K. L. and S. Sood. 2003. Brand equity dilution. MIT Sloan Management Review : 12-15.
7
8 www.wikipedia.com
9 Walter Elias "Walt" Disney ( December 5, 1901 – December 15,
1966) - an American entrepreneur, cartoonist, anim
10 www.Google.com
11 www.Google.com