Week 9 International Marketing
Niche Competitive Advantage
The competitive advantage model that I will use for my shoe company in Indonesia is niche marketing competitive advantage. According to Erel (2014), niche marketing is a market subset where a particular product is focused. This type of market defines a product features, price range, demographics and production qualities in satisfying marketing needs. The reason why I am choosing this model of competitive advantage is because it is a highly specialized market segment targeting particular enthusiasts of niche and it aims at surviving among numerous super companies competition. This type of model will assist the shoe company to increase its financial gain margins.
In ensuring the effectiveness of this model, unique needs of the potential customers have been identified, the products will be tailored in the right way, and the company will produce unique compelling products, communication with the target population and strategies of beating the competitors. This type of market will help the company to build its brand loyalty with less competition due to the personalization of the product. The company will market its unique product to the niche audience, setting prices that will increase profitability.
Erel, O. (2014). The Advantages and Disadvantages of Niche Marketing. Product Marketing. Retrieved from http://product2market.walkme.com/advantages-disadvantages-niche-marketing/
Response to Jeremy Bryant
I like you competitive advantage discussion. You have started your discussion by defining competitive advantage concept. I like the strategy you have chosen for your shoe business. I like your giving back concept to the environment and to the community. Additionally, another advantage that your company will enjoy from this strategy is that it will create brand loyalty to your customers. You have illustrated this with your example with TOMS shoes. You competitive advantage is not cost oriented as but it is oriented on design and quality too. Jeremy, how will you differentiate your products and services from your competitors?
Response to Nehemiah Anderson
I like your discussion of using differentiation tool in your shoe company in Egypt. I agree with you that this type of model is advantageous. You will have the chance to choose on your best attribute that you will focus on. The greatest advantage of this model is that it allows co-existence of multiple products as long as they are concentrating on different attributes. In your chosen strategy, you should ensure that the attribute you choose is valued by your market to ensure high returns. Nehemiah, which attribute are you willing to concentrate in your business?
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