Tailoring Strategies to Fit Specific Industry and Company Situations

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Presentation transcript:

Tailoring Strategies to Fit Specific Industry and Company Situations Chapter 8 Tailoring Strategies to Fit Specific Industry and Company Situations

Life Cycle Unit Sales Profits

Life Cycle Emerging Embryonic Introduction Growth Mature Decline

Industry Life Cycle

Industry Life Cycle

Industry Life Cycle

Industry Life Cycle

Industry Life Cycle

Industry Life Cycle

Challenges of Emerging Industries Uncertain market conditions and characteristics Competing/unknown proprietary technologies and varied marketing/service/distribution tactics Lack of complementary products Limited/poor quality and high costs, which deter acceptance Low entry barriers Education of users Innovators vs. Initial adopters vs. Mass-market.

Alternatives in Emerging Industry Move fast/early with superior product or technology Track the Dominant Design Build alliances/merge with key suppliers or those that provide complementary products to out position rivals Seek new customer groups, new applications for your product Make it cheap/easy for early adopters to try/buy your product.

High Technology Industries Battle over technical standard, format, and dominant design Set by decree, cooperation, public domain, but mostly through consumer choices

TV Industry – Paradigm Shifts Black & White TV

Color TV Black & White TV

Color TV Black & White TV

Big Screen TV Color TV Black & White TV

Big Screen TV Color TV Black & White TV

HDTV Big Screen TV Color TV Black & White TV

HDTV Incremental evolution included remote controls,cable ready tuners, stereo sound systems, screen-in-a-screen, etc Big Screen TV Color TV Black & White TV

Benefits for Standards Compatibility Reduce consumer uncertainty Reduce production costs Increase in complementary products – Network effects – which greatly enhances sustainability

Challenges of Mature Industries Slow growth fight for market share Sophisticated buyers Costs, prices and service critical Excess capacity and oversupply Innovation and new uses more difficult International competition Falling profitability Consolidation Segmentation.

Alternatives in Mature Industries Prune product line Process innovation & cost reductions in value chain Sell more to current buyers Purchase rivals at low prices Go international.

Alternatives in Fragmented Industries Formula facilities - Tri-Con, Home Depot Low cost operations - tires, pool suppliers Become the specialized vendor of choice - oil change, lawn/garden, bar stools Focus on a customer type - Hooters, Panera Focus on a geographic segment - Winn-Dixie, Chic-fil-a, Sonic.

Other Runner-up Strategies Vacant Niche Strategy - commuter airline, health foods, religious book stores Specialists Strategy - Arm & Hammer Superior Products Strategy - Sub-Zero Distinctive Image Strategy - Rainforest Cafe Content Follower – Cadbury-Schweppes

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