Evaluate The Present Strategy For Guard And Sung's Versus K ✓ Solved
Evaluate the present strategy for Guard, and Sung's versus K
The class is opening a discussion based on the Lever, Ltd. Case Study. Each student must post individual comments on one of the following three questions: (1) Evaluate the present strategy for Guard, and Sung's versus King's proposed strategies; (2) How should the promotion money be allocated?; (3) Should investment-spending market tests be run first? Responses should be brief, with a maximum of 4 sentences. The subject of each post must correspond to one of the designated topics, and everyone is encouraged to engage with each other's initial postings. This discussion will remain open for one week.
Paper For Above Instructions
In analyzing the leveraging strategies of Guard and the contrasting approaches of Sung and King, it is critical to evaluate the current strategy implemented by Guard. The effectiveness of the present strategy can be juxtaposed against the strategies proposed by Sung and King, each bringing distinct perspectives to the discussion.
Current Strategy of Guard
Guard’s current strategy focuses on maintaining its market position through established pricing models and customer relationship management. Although this approach has provided a steady revenue flow, it is often perceived as rigid, lacking innovative flexibility that is critical in a competitive marketplace. A strategy that lacks adaptation can leave a company vulnerable to more agile rivals who can swiftly adjust to market changes.
Proposed Strategy of Sung
Sung proposes a more aggressive, growth-oriented approach. His strategy involves reallocating resources towards marketing and brand engagement, aimed at increasing visibility and penetration in unexplored markets. This edge could potentially boost Guard’s performance metrics by attracting a younger demographic that prefers interactive and modern engagement methods. Sung emphasizes the importance of strengthening brand loyalty, which can create a lasting value proposition beyond immediate sales figures.
Proposed Strategy of King
Conversely, King advocates for a conservative yet calculated method focusing on enhancing product quality and customer experience. He suggests investing in quality assurance and customer service initiatives, which can fortify Guard's reputation. This strategy acknowledges the significance of retaining existing customers while slowly expanding the market share through word-of-mouth promotion. In doing so, King’s approach ensures long-term sustainability, although it may not yield immediate results as aggressively as Sung’s approach.
Evaluation of Strategies
An effective evaluation of the strategies must consider not only immediate financial implications but also the long-term brand health of Guard. Sung’s strategy may provide an immediate competitive edge through aggressive marketing, enticing consumer interaction. However, King’s emphasis on quality might serve to create a loyal customer base, which is essential for longevity in the industry.
Ultimately, the choice between these strategies may come down to Guard's current market conditions and overall organizational goals. If immediate financial return is the priority, Sung's aggressive marketing strategy could be favored. However, if the priority is sustainability and long-lasting customer loyalty, King’s approach may be warranted.
Promotion Money Allocation
Regarding the allocation of promotion money, it is crucial to focus on the channels that yield the highest return on investment (ROI). Historically, the best-performing segments should receive a larger share of the promotional budget to maximize profitability. However, it is also essential to dedicate a portion of funds to potential growth areas that may not currently show high performance. This balanced allocation can stimulate growth where market potential is underutilized.
Investment Spending Market Tests
Considering whether to run investment-spending market tests first is a vital decision. Running market tests allows Guard to gather empirical evidence on consumer behavior before fully committing to investments. It provides insight into where money can be spent most effectively, minimizing risks associated with large-scale investment decisions. Thus, implementing preliminary market tests can offer a safety net, ensuring that financial resources are allocated to initiatives that have been substantiated by data.
Discussion Engagement
Engaging with classmates’ reflections and discussions is an integral part of enhancing understanding of the case. Through dialogues, different viewpoints can provide a broader perspective on effective strategies and potential blind spots. This interaction not only reinforces knowledge but fosters a collaborative learning environment.
Conclusion
In conclusion, there are varied strategies proposed by Sung and King, each with its own merits and potential drawbacks. Guard’s current strategy must be evaluated critically to ensure adaptability in a competitive landscape. Thoughtful allocation of promotion funds, along with preemptive market tests, enhances the organization’s strategic approach, leading to better customer engagement and financial health over time.
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