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business unit 3.8 - Coggle Diagram
business unit 3.8
bowmans strategic clock
focused differentiation
suituationing a product at the higher price levels whilst attempting to achieve high perceived added value, a stragety adopted by luxury brands. when successful this stragety has very high profits margins
differntiation
a stragety of attempting to offer the higher level of perceived added value, branding plays a key role with product quality. a high quality product with a strong brand with brand loyalt is best suited to this stragety
rish high margins
offering a high price with little or no added value. when it works there are high profit margins with little added cost to low price strageties. however it is likely to fail eventually as customers being to find lower price options with the same perceived added value.
hybrid
when a business aims to have relatively low prices when compared to competitors and still provide some differntiation, tends to have the aim that despite a slightly higher price the added bonus from the differntiation is worth it
monopoly pricing
when there is a monopoly in the market so the business can set the price they want within reason as customers with have to buy from the business or not get the product.
low price
a stragety that uses cost minimisation and often economies of scale to allow for low prices, products have low profit margins and competition between low cost business is often high.
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ansoff's matrix
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market penetration: selling an existing product in its current market but with a small change to product or another part of the marketing mix
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