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Stategic Managment - Board Report on MarketPlace Progress - Essay Example

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Putting into consideration the necessary strategic steps at Tech Nova, a company that deals in online sales of computers, the company’s…
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Strategic management of Tec Nova Company Strategic management Every company recognizes strategic management as a vital element in obtaining better performance and competitive advantage over their rivals. Putting into consideration the necessary strategic steps at Tech Nova, a company that deals in online sales of computers, the company’s mission is guided by simple interface straightforward computers, which are durable. Tech Nova strategies have been on based on the focus of highly competitive segments, market demand and market reliability while focusing on low price sensitivity. Having been in the business for a period of more than 3 years, Tech Nova’s market shares undergo evaluation quarterly. Even though the overall performance may not look substantial in the first quarter, market saturation has been acknowledged as one of the factors that led to the projection of these results. According to the financial reports of the first quarter, there has been a weak financial return, a clear indication that the company has long-term focus attributed by stock turnouts (Grünig and Kühn 2011).
After the three years in this industry, Tech Nova Company has been considered as the third best in travelers demand with a total return of 448 points after universal and Pineapple computers. However, the marginal difference was quite narrow and can be easily attained. Moreover, the organisation forms the third best overall in market share. While striving to achieve its best competitive edge, the organisation has also put in place mechanisms to catch up with the second best firm before putting more emphasis of competing with the leading company (Dobson 2004).
Marketing strategy
Tech Nova’s market segments are characterized by more emphasis on both workforce and the travelers. However, latest reviews have pointed it out that much more can be generated from the workforce as compared to travelers. In addition, achieving substantial results from both is even easier through adjustments of the previous results. The organisational long-term intention is to venture in to the market for Mercedes because, this is one of the leading firms whose monopoly within the first quarter is an indication of good potential for the market (Betz 2001).
Expansion strategy
From the preliminary results of the first quarter, Tech Nova has been competing only within three markets, but due to the organisational potentials, other markets have been identified. The company can make expansion regionally to areas such as Tokyo and Toronto since only PineApple has been dominant in these areas. The main organisational objective is to expand its market share into these regions and launch competition against the rival company, PineAple. The market share can also be facilitated by venturing into other cities where Tech Nova products have never existed (Schermerhorn 2011).
Branding of commodities
From the results, Tech Nova has identified that, Tech Light pro is one of its competitor in two different segments; workforce and Mercedes. However, the organisation has also maintained its design of a standard desktop as this could easily blend with other commodities.
Competition strategy
The main competitors of Tech Nova include PineApple and Universal. However, Universal is getting out of the market gradually. Besides, Tech Nova is doing fairly well and could have received recommendable returns if it were not for the stock outs. The company aims to push its competitors out of the market by offering quality products at an affordable price.
From all the above strategies, it is very clear that Tech Nova is capable of building up its reputation through the implementation of these strategies. Tech Nova potentials in generating enough returns is highly depended on the appropriate articulation of its strategies.
Bibliography:
Grünig, R. and Kühn, R., 2011. Process-based strategic planning Heidelberg; New York: Springer.
Dobson, P., 2004. Strategic Management: Issues and Cases. Oxford: John Wiley & Sons.
Betz, F., 2001. Executive strategy: strategic management and information technology. New York: J. Wiley.
Schermerhorn, J., 2011. Exploring management. Hoboken, N.J.: Wiley; Chichester: John Wiley [distributor].
Kachru, P., 2005. Strategic Management: Concepts and Cases. New Delhi: Excel Books Read More
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