Strategic Market Management: Global Perspectives by McLoughlin Damien - Article Example

The paper "Strategic Market Management: Global Perspectives" is a delightful example of an essay on business. This is a paper discussing the competitors of different firms under the same line of production. These firms entail Dansko, Mephisto, ECCO, and Birkenstock. The research covers the strategies used by the mentioned firms to outdo their competitors. It also includes the weakness of the firms, as well as steps used to encounter the competition.

Mephisto is capable of designing and producing quality products. This is one of the competitive strategies used by the company. Its product targets the prestigious in the communities of its location. With is, the company has to ensure there is dynamism in designs. One of the weaknesses of the strategy is that it takes time before it wins a sustainable share in a new market. Otherwise, the strategy increases the ultimate revenue.

ECCO is a company that produces shoes. The company does not only make shoes but also produces accessories and leather. The company controls all steps starting from the tannery to marketing. Its strengths are that; ECCO has ventured in over 100 countries. These entail the branches in Asia, Europe, the USA, and Canada. The strategy used by the company is selling products at the least prices, with the aim of increasing the rate of stock turn over. Therefore, the ultimate revenue will be high as it will attract a large population. However, these branches are mono-stores. These reduce the chances company from diversifying the products. It can also not meet the demands of the population (Damien 23). The company’s weaknesses are that most of the products are of average standard. It also has to maintain integrated management to ensure that all the branches are properly maintained.

Birkenstock is located in Germany; it is a shoe manufacturing company. It mainly manufactures shoes and sandals characterized by their rubber and cork foot-beds similar to the wearer’s shape of the feet. The company uses different strategies in designing their marketing techniques. Therefore, the company is open to different challenges and weaknesses. In reference to economic records in Germany, the company maintains its competitiveness through quality management and innovativeness. One of the key strengths is that the company has access to new designs. This makes the company be at the forefront of market dominance, as a result of customer satisfaction. However, the company has fewer ventures around the world, thus reducing its market reach. This shows that the company should suppress the weakness by expounding its ventures. The company is also less popular among children-wears as it does not deal with that line of production.

From the above research, we can draw the basis in which Dansko should adopt to ensure that it dominates the foot-wear market. One of the key notifications is that it has ventured all around the world, investing in the quality of products (use natural resources such as leather, latex, and rubber), and lastly, ensuring that the company produces products target both gender (Damien 23).