Friday, February 28, 2020

Best cost provider Essay Example | Topics and Well Written Essays - 250 words

Best cost provider - Essay Example Best cost provider is a strategy that works towards striving to give customers the value of their money by combining an emphasis on low cost with on upscale differential. Porters power of supplier strategy is one form of best cost provider. It is a basis through which the producer can understand where power lies in a business situation. Based on the above scenario, the porters power of supplier would help the producer determine where to invest. It is clear that the power for the above named products lies in the quality, price, model, durability because these are the main factors driving the marketing of these products. Market research reveals that the quality is the power source for the multi-featured cameras. This means that the producer must consider the quality as far as the multi-featured camera is concerned. On the other hand, the price is the power source for the entry level camera. Because of this, the producer must ensure that the price matches the one in the market (Strickla nd & Thompson, 2001). SWOT analysis strategy is a tool for determining the strength, weakness, opportunities and threats. Opportunities are important as far as the best cost provider strategy is concerned. They are external chances that help to improve performance (e.g. make greater profits) in the environment. As a producer of the Entry and multi feature camera, it is essential to determine the opportunities for each of these products. There are a number of opportunities. These include the price/quality ration, the model selection, attractive discounts, advertising and special promotion. The producer should utilize one or combination of these opportunities based on the product in question (Strickland & Thompson, 2001). Based on the above discussion, it is clear that the best marketing strategy is determined by considering those competitive factors that determine the market share. It is clear that the price/quality ratings are the main

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