7: Strategies For Mature And Declining Markets Flashcards Preview

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Flashcards in 7: Strategies For Mature And Declining Markets Deck (8)
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1

Maintaining a competitive advantage

Differentiation on product service or quality, low-cost positioning, satisfaction and loyalty

2

Service delivery satisfaction

Gap between:

Market and service expectations

Management and service quality expectations

Service delivery and external communications

Perceive and expected service

Service quality specifications and actual service delivered

3

Strategic choices for mature market

Develop well implemented strategies to sustain competitive advantage, customer satisfaction and loyalty.

Create programs to pursue growth

To push business into maturity: changing customers wants and needs, a substitute, increase in cost of raw materials, change in government regulations

4

Service value creation

Time value (taxi), place (distribution/logistics - using mobile), form value (medical), problem solving value (education)

5

Can use to success in service business

Seeking distinct market positions for competitive strength

Understanding in offering what target customers perceive to be superior value

Managing contact between customers and service personnel

Understanding the role of technology in service delivery

6

Extending volume growth

Increase penetration (Understanding why non-users don’t want what we have – develop integrated systems help improve product performance and ease of use, expand this to beautician, develop more/convenient channels)

Extended use (develop all use of product for example nylon: military – hoisery)

Market expansion (strengthen position in market/underdeveloped market e.g. domestic expansion)

7

declining markets

Conditions of demand (demographic shit, changing tastes and lifestyle)

Exit barriers - the higher the exit barriers the less hospitable the product and market will be

Future competitive rivalry (bargaining power, customer finding/switching to substitute)

8

Six phases of hostility

1- margin pressure
2- share shifts
3- product proliferation -changing
4- self defeating cost reduction
5- consolidation and shakeout
6- rescue