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In: Finance

Identify a company whose products or services you use or consume frequently. Now identify one (just...

Identify a company whose products or services you use or consume frequently. Now identify one (just one) of its major competitors. Imagine that you are the Chief Strategist for the first company. Using the principles of competitive strategy, discuss several strategic moves that might be effective against the competitor you identified. Example:When you eat fast food, you prefer Taco Bell. One of their major competitors is McDonald's. As Chief Strategist for Taco Bell, what strategic moves would you recommend to compete against McDonald's?

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Expert Solution

As Chief Strategist for Xiaomi, following strategic moves would be recommended to compete against Apple/ Samsung-

1. Design of Goods- The first point is that how I can differentiate my mobile with those of them.

2. Quality Management- What can I improve in the performance of my mobile, which is not available in their's.

3. Cost Differentiation- How can I compete with those in the terms of the cost, i.e, how can I reduce the cost of my product below their's so that public wants my product.

4. Inventory Management- How do I manage the inventory and how fast the invertory moves in my company as compared to the others.

5. Add-Ons- What other services can I provide to the customers, like discounts, cashback, etc.

6. After-sale service- Improvement of the after sales service of my product so that there are no customer complaints as it goes in building the product image.

7. Advertisement- How much can I advertise my product and what is the budget and how much will it influence the market (customers) to buy my product.

jeff jeffy answered 1 year ago
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