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How does boost differentiate its product from those of its competitor and outline, discuss the marcro-environmental forces that could potentially impact on sucess of boost business moving forward Essay Example

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    High School
  • Page:
    1
  • Words:
    608

[Type the company name]

Strategy for Boost

Assignment on Boost

7/18/2013

Question 1

Clemons, 2008)Boost has looked at ensuring that the strategy adopted by them is different which has helped them to differentiate their product from its competitors. The differentiation strategy for Boost has been developed based on product, channel, service, image and people. Boost has looked to integrate the different variables so that they are able to market their product differently and has provided an avenue through which the long term success of the business can be determined. This has been further shown below (

Parameter

Service Quality

Friendliness of sales personnel

Location Factors

Reputation

Communication

Attitude of employees

Various Products

The above chart clearly depicts that Boost has looked to integrate the different variables and based on it has looked at developing their differentiation strategy. Boost on this regard has ensured that quality products are provided. The organization has ensured that they provide whatever they advertise. This has helped to develop the brand image and ensured better penetration to the different markets. The easy availability in different package and sizes has further acted as a point of differentiation and has helped Boost to be able to project their product differently (Hawkins, Best & Coney, 2006). This has been supported by the fact that Boost has further integrated the system and looks at continuous innovation and development. This has helped to develop the products based on the needs and requirements of the customers and has acted as a differentiation point and ensured that they are able to place their product differently from the competitors namely Bournvita, Horlicks and Complan.

Question 2

The long term success of business is heavily dependent on the manner the organization is able to deal with the macro-environmental factors. Some of the macro-environmental factors which has an impact of the performance of Boost are

Political: The future strategy of Boost is dependent on the different rules and regulations that the political government within the country frames. Boost has to ensure that they work according to the fundamentals and rules provided by the government and looks at using the different opportunities that the market provides (Brassington and Pettitt, 2001).

Economic: Boost has to consider the overall economic situation which is present in the economy. For example inflation will reduce the disposable income and will have an impact on the overall business of Boost. The organization needs to consider this factor while looking to develop strategies for the future (Brassington and Pettitt, 2001). This has to be matched by analyzing the different factors like inflation, disposable income, growth rate, employment level, financial stability and other factors which has to be considered while framing strategies for the future.

Technological: Boost has to further ensure that continuous innovation is done in the field of technology so that the organization is able to make changes and stay ahead of competition. This will require that Boost continuously look to find new methods which will help to gain technological advancement and will provide an opportunity through which the business grows (Brassington and Pettitt, 2001).

Boost thereby has to consider the different macro-environmental factors while looking to frame future strategies so that the business is able to develop the required fundamentals which ensure long term growth.

References

Brassington, J. and Pettitt, M. 2001. Principles of Marketing, 2nd Edition, Prentice Hall

Clemons, E. 2008. How information changes consumer behaviour and how consumer behaviour determines corporate strategy. Journal of management information systems, Fall, 25 (2), 13 -40.

Hawkins, D., Best, R. & Coney, K. 2006. Consumer behavior, compilation of the marketing strategy, Translated by Ahmad Roosta & Atiyeh Botahi, Sargol publication, Tehran.