JHT2 Task 3 1 Essay

A useful technique for displaying competitive positions that rival firms occupy in the industry is strategic group mapping. The picture below is an example of a strategic group map of the performance sports apparel industry.

Companies find opportunities in product innovation by providing new products and services to customers. This keeps current customers interested in doing business with the company and has the potential to attract new customers. Sometimes this is done by creating new products, greatly changing an existing product or by just changing the way the current product is presented. Another form of product innovation is branding. By creating a more positive brand image a company can keep the interest of consumers.

The performance differences between strategic groups are the focus for much of this research, but mobility between groups and the structural dimensions of industries have also received attention (Ferguson et al., 2000; Leask and Parker, 2006; Porter, 1980; Reger and Huff, 1993). As such strategic group research has developed as a central research theme in strategic management. One of the most notable aspects of strategic groups research is that it highlights and reinforces the importance of particular industry contexts. This is an important

Figure 1 below identifies the different levels of competition within this industry. The competition can be defined through determining strategic groupings. A strategic group is a concept that is used by groups of companies within an industry that share similar business models and/or

Having a strategic marketing plan needs direct input to insure the success that a product or service will have growth in the market. Perceptual mapping is one of the best ways to map out the product’s life cycle and the impact that it will have in the market. Perceptual maps are illustrations of data that have been compiled from the markets rating scales, and to develop a correct perceptual map these scales have to be fundamentally sound for the product and the consumers. When the planning for a perceptual map is done, the planners can see the customer and the competitor on the same scale, which will help to create a marketing path that is successful to that product. Thunder RollsThorr Motorcycles is a company that has a

The health care industry integrates several sectors of an economy with the aim of providing curative, preventive and rehabilitative care products and services. Healthcare providers include institutions such as hospitals or individuals such as nurses, doctors, midwives and they provide health care services to individuals or communities at large (Swayne et al., 2013). This paper examines the past, present, and future of the health care industry in relation to technology, finance, and economics.

The purpose for a strategic group map is to visualize strengths and weaknesses within an industry. For the purpose of this illustration, the three distinctive groupings are: internet radio which encompasses Pandora and Spotify, the second being AM/FM radio, and the third is Sirius XM.

The elderly outnumbering children has become the newest predicament in the medical, social, and economic world. For the longest time there has been four adults for every elderly person. Now, there are only two adults for every elderly person and this is troubling to the medical world.

Strategic group is an idea of grouping together companies within a particular industry that tend to have similar strategies or business model, compete on similar bases and target a similar market. These can be classified into two possible categories that are commitment of resource such as budget for market, return on market investment or brand and secondly organisation scope of growth such as diversity of location and variety/range of business product.

-Strategic options development and analysis (SODA): This is a general problem identification method that uses cognitive mapping as a modelling device for eliciting and recording individuals' views of a problem situation.

The third company that was observed is St. Joseph’s Hospital. This is a hospital that specializes in critical care and emergencies. The operations of this hospital is crucial because it is not only service, but it holds people’s lives at stake. The input of the hospital would be having ownership of the supplies and relationships with suppliers. This way when it comes to operations stage, the best and most updated equipment is ready for use and can provide the best service possible. Between these two stages, the best and most skilled doctors, nurses, and staff are hired in order to ensure safety and health. As far as the output stage of St. Joseph’s Hospital, the services provided are high-quality service and safety.

Nowadays, it is no doubt that there are many emerging company which also refers to as competitors in a same industry. These companies are competing with each other to withstand a strong position to sustain their business. Based on Czepial & Kerin (2009), they suggest that a company need to understand the actions and behaviors of its competitor in order to formulate a comprehensive strategy. It is vital for a company to understand its market position and competitive environment as compared to other competitors. Hence, we have use the strategic group mapping to identify the position of Pensonic Holdings Berhad with related to other competitors. Strategic group mapping is a technique that can disclose the position of companies in an industry which share similar competitive approaches.

Strategic group map define as a industry that provide similar product to the same segment of the population ( Lyke 2014). With strategic group map it can help the organization to identify direct and indirect competitor beside that strategic group map also able to identify opportunities and strategic issue (strategic group map 2014).

5. Compare Competitive positioning of all players and Map Positions of competitors in luxury goods business and who are in the best position players and why?

Strategic Group Map of the competitors in the Cosmetic and Toiletries industry of USA in 1985: