- Include a cover page and a reference page in addition to your required word count.
- Use correct APA v. 7 format.
- Use section headings to organize.
- Double-space text.
- Use size 12 Times New Roman font.
- Indent paragraphs.
- Include in-text citations.
- Use correct spelling, grammar, sentence structure and verb tense.
- Write in 3rd person
Objective:
Examine and describe the concepts of generic strategies forcreating a competitive advantage.
Introduction:
Before a company pushes out a new product, research is done tofind or validate the need for it, especially if it is a product that expands acompany’s offerings. Marketing then has to determine the strategy that willenable the success of the product. Complete this essay for a chance todemonstrate your understanding of generic strategies for creating a competitiveadvantage. In this particular scenario, you will illustrate how genericstrategies can underscore a company’s commitment to promoting high-techelectric cars in a competitive global market.
Deliverables:
The essay for this lesson is required to be a minimumof 700 words that clearly demonstrate your understanding of theactivity. Essays should have a clear introduction, thesis statement andconclusion, written in APA format (https://owl.english.purdue.edu/owl/). Aminimum of three sources, at least two from the lesson, must be cited in-textand in the Reference list.
Step 1:
Read the following scenario and this except from the text.
Apple is rumored to be introducing an electric”mobile-device” car to the global market in 2020. They have begunhiring experts and former employees from Mercedes-Benz, Tesla and Ford. SinceApple has established its brand as a forerunner of technology, consumers andpundits have high expectations of their new, anticipated product. Apple hasdecided to hire you to create a marketing strategy to help Apple improve itscompetitive performance in regard to marketing its mobile-device car.
Step 2:
Read and formulate responses.
Read the following points. Using what you have learned about thislesson’s objective and based on the scenario in Step 1, formulate yourresponses.
- Define the four generic strategies: cost leadership, product differentiation, cost focus and focused differentiation.
- Although there is limited information about the car being developed, we do know it is headed for a tight competition with Tesla. Assess Apple’s options in the four generic strategies in comparison with the target competitor, Tesla.
- Analyze whether you will use all four strategies or just one and provide your reasoning.
Read the followingmaterials:
Read pages 229 toexplore the global marketing process and learn about the various ways a companycan expand and market globally.
In these readings, youwill learn more about global marketing strategies, the advantages anddisadvantages of modifying products from market to market, and how/why totailor international promotions.
Entry Strategies in Global Markets
Lumen Learning. (2016).Principles of Marketing. Retrieved from https://www.oercommons.org/courses/principles-of-marketing-4/view/
Lumen Learning. (2016). Principles of Marketing. Retrievedfrom https://www.oercommons.org/courses/principles-of-marketing-4/view/
In this reading, you will beintroduced to the idea of global marketing competition and an overview of thecompetitive forces that shape the global market system.
Approaches to Global Competition
Lumen Learning. (2016). Principles of Marketing. Retrieved from https://www.oercommons.org/courses/principles-of-marketing-4/view/
In these readings, you willdiscover how various expressions of culture can impact global marketingstrategies.
Cultural Factors Shaping the Global Marketing Environment
Lumen Learning. (2016). Principles of Marketing. Retrieved from https://www.oercommons.org/courses/principles-of-marketing-4/view/
Demographic Factors Shaping the Global Environment
Lumen Learning. (2016). Principles of Marketing. Retrieved from https://www.oercommons.org/courses/principles-of-marketing-4/view/
In this reading, you willdiscover how political differences across regions can influence a companiesglobal marketing strategy.
Lumen Learning. (2016). Principles of Marketing. Retrieved from https://www.oercommons.org/courses/principles-of-marketing-4/view/
In these readings, youwill learn more about advertising globally, publicity and public relations andhow media differs from region to region.
Jain, V., & Roy, S.(2012). The emerging trends in global advertising. Media Asia,39(4), 175182. https://doi-org.libproxy.nau.edu/10.1080/01296612.2012.11689935
Vocus (Publisher). (n.d.). PR bestpractices for global corporations. Retrieved from
In this reading, you willget a summary of global promotion strategies, and contingency factors tobe considered when making decisions about sales force nationality.
International Promotion
In this reading, you will get an overview of product branding concepts thatbring about a successful global marketing product strategy. It is important forglobal marketers to understand the benefits sought by buyers in different partsof the world.
Global Branding
Saylor Academy. (2012). Fundamentals of Global Strategy. Retrieved from https://saylordotorg.github.io/text_fundamentals-of-global-strategy/index.html
Inthis reading, you will get a summary of the basic pricing concepts, pricingstrategies and objectives that influence decisions about pricing products inglobal markets.
International Pricing
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