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Case memo - Term Paper Example

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Date: April 30, 2013 To: CEO and the Board of Directors of Benetton From: Richard Simpson (Senior Manager of Benetton) RE: Analysis of strategy for competitive advantage and superior performance. Thank you for the opportunity to evaluate the strategy currently being applied by Benetton in order to increase profitability and attain sustainability in business operations in the market segment…
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Download file to see previous pages This strategy involves further research and development that will help the organization in maintaining a competitive advantage. The strategy entails giving loan and credit facilities to existing retailers that can embrace the use of low cost strategy. Since Benetton has been able to produce and market their products in an efficient way as compared to its competitors, then this strategy is appropriate for the organization. Additionally, their uniqueness and superior value to buyers gives them an advantage. This is evident with their united color scheme, quality of products among other special features of the organization. Opportunities The efficiency of the strategy is the reality that the retailers and licensees seeking support are familiar with the operations of the organization. Therefore, much of the resources will be directed towards giving support to the existing running businesses since they meet organizational goals and objectives. The productivity of employees is sufficient in meeting customer demands. Furthermore, productivity is sustained due to the efficiency of capital and R&D collaboration. These elements are key measures that facilitate the high increase of profits for the Benetton. The quality of excellence shows that the organization has superior qualities because of their style, features and functions, design, level of service and aesthetic appeal of products. The reliability of the products has enabled consumers realize the value attributed to Benetton’s products. As such, the needs of customers are satisfied and hence, value is attributed to the product by the consumer of the product. Risks Apart from the opportunities, the external and internal risks involved in this strategy are the high level of imitators from competing organizations. This lowers the standards and quality of products produced. However, Benetton still has an advantage because the marketing strategy employed in the advertising of products covers this area. Therefore, the organization needs to ensure that other risks of selling at a lower market price are abolished. Current situation Currently, the organization has over 6000 stores sales and is listed in the stock market. This will mean that the company should engage in activities that are competitive because of high levels of competition. So far, the business is doing well, but needs to put in place measures that will assist it to attain sustainability and still be competitive in the market. The unique products assembled by the organization has enabled them maintain the majority of their customers. Additional support provided to retailers and licensees will enable Benetton to create differentiation and ultimately lead to a competitive advantage, which means higher customer response increases value of the product. For example, in Japan the group shows an increase in the number of stores in operation between 1986 and 1993. The profits and employees working in the organization has increased, which shows that the organization is running at a profit and is maximizing on the number of outlets available in order to foster values of products among consumers in a market niche. Recommendations In this instance, by providing additional support to the existing licensees or retailers strategy best suits the needs of Benetton because it matches with their goals and objectives. The input and output ...Download file to see next pagesRead More
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