Tuesday, February 11, 2020

Marketing and strategy Article Example | Topics and Well Written Essays - 1250 words

Marketing and strategy - Article Example The key learning's of the study include an explanation and discussion of six variations of a basic value curve model that has worked successfully for leading companies in various industry segments including Home Depot, Quicken, Polo Ralph Lauren, Bloomberg, Borders Books and Barnes & Nobel, Starbucks, and others. These "value innovation" models include looking at competitive boundaries from differing perspectives such as: across diverse industries; from a variety of strategic groups within industries; evaluating the full chain of customers within an industry; looking at the relationship of products and services; evaluating the fundamental customer appeal of products and services; and utilizing perspective over time (Kim & Mauborgne 1999). The approach identifies and graphs the relative value level of certain key elements specific to an industry including product, service, and delivery components. As the scope of business drivers evolves, it includes a complex array of socio-economic, political, environmental and other factors, including the complexity of application of the model the ability to measure the contribution to value. The model becomes a study of business variables that can be addressed or influenced by specific methodologies designed to provide a unique value proposition in a specific business environment. In relation to this proposal, the recommendation for a new value curve model specific to Norwich Business School is based on creating new market space (increased market share) without regard to the traditional limiting parameters typically used in competitive analysis. This proposed value curve model for Norwich will look at such components as cost, time requirements, access, innovative curriculum targeted to specific needs, and the value proposition of the acquired degree. Selection of these elements and the subsequent emphasis placed in relationship to the rel ative level, are established from parametric data, traditional business theory, innovative strategic planning sessions, consumer surveys, and traditional competitive analysis. These activities are supplemented with research of best practices of successful or complimentary companies in the field of education. In combination the value curve model provides a compelling agenda to contribute incremental educational value. This effort is supplemented by a focus on the discipline of critical thinking, and on an approach to the study that encourages implementation and application. In short, apply concepts proven in traditional business analysis to the learning process without preconditioned biases. Theoretical Understanding In evaluation of the various "value curve" models there is a clear communication of the problem and the approach to value proposition modeling. The several examples and associated value curve models are based on individual case studies of successful companies in diverse industry segments. Identification and explanation of the four step concept used to develop the value curve include the theory of asking questions associated with the effort to focus on new value. The questions deal specifically with the ability to reduce below industry standards, eliminate unnecessary standards, create new industry standards, and raise industry standards as appropriate. These four factors assist in the creation of a new look at value components. Incremental data points are established with a review of successful com

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