Throughout This Course You Will Conduct A Strategy Au 339140

Throughout This Course You Will Conduct A Strategy Audit For A Select

Throughout this course, you will conduct a strategy audit for a selected company. Begin this assignment by selecting an organization for your course project activities. In this module, you will assess the product portfolio of your selected business unit by analyzing the value proposition, market position, and competitive advantage of its products and services.

Part I: Interview

To gain an understanding of your selected business unit’s market position, value proposition, and competitive advantage, conduct at least one interview with a mid-level or senior manager. Use the interview to solicit the manager’s perception of his or her business unit’s product portfolio.

Be sure to discuss the points of analysis listed below in Part II of this assignment.

Part II: Analysis

Based on the information gathered from the interview, analyze the product portfolio of your selected business unit. In your analysis, identify the business unit of your company and the product(s) and service(s) on which you will focus. Make sure to include the following points in your analysis:

• Describe the target customer for the product/service in terms of relevant characteristics that impact the marketing strategy, including location (how it should be reached) and buying habits. Identify each customer segment’s specific wants and needs.
• Explain why they buy your company’s product or service, or a competing product or service. Justify how well your product/service satisfies customer wants and needs. Identify any wants and needs that are not met by your product/service.
• Analyze the position of your product/service in relation to the competition. Identify the main competitors.
• Explain how your product differs in terms of features, function, quality, price, availability, brand image, and the like. Explain why this differentiation is important to your customers.
• Describe the source of competitive advantage for your product. Evaluate how sustainable this source of advantage is. Assess the long-term sustainability of the source of differentiation and competitive advantage.
• Include appropriate information from the interview in support of your answer.

Part III: Matrix

In comparing your product/service to that of the competition, construct a simple matrix in the following way: List the key customer wants or needs on the left-hand vertical axis. List the competing products on the top horizontal axis, starting with your product/service on the left. For each customer want or need, indicate how well each competing product satisfies the need using a scale of 0–2. 0 = need not met, 1 = need partially met, 2 = need fully met. This is a simple but effective visual mechanism for comparing the relative position of multiple offerings from competing sources.

Write a 3-page paper in Word format and attach the matrix as an appendix. Apply APA standards to citation of sources.

Paper For Above instruction

The strategic management of a company's product portfolio is essential for maintaining competitive advantage and ensuring long-term success. This paper focuses on conducting a comprehensive strategy audit for a selected business unit within a company, emphasizing the analysis of the product portfolio, competitive positioning, and the derivation of insights from managerial interviews. The goal is to deliver a well-rounded understanding of the unit’s market landscape, customer base, and strategic differentiation, grounded in real-world insights and analytical frameworks.

Introduction

A strategic audit begins with clear identification of the targeted business unit and its core products or services. Selecting an appropriate organization involves considering the scope for analysis, data accessibility, and strategic significance. Once a business unit is selected, gathering qualitative insights through interviews with mid-level or senior managers clarifies internal perceptions of the product portfolio, market position, and competitive advantages. This internal perspective complements external analysis, enabling a nuanced understanding of the unit’s strategic standing.

Part I: Conducting Managerial Interviews

The interview process serves as a vital primary research method, capturing insights into the manager’s perceptions of the unit’s value proposition, target markets, and competitive landscape. The interview should explore key areas such as:

• The perceived strengths and weaknesses of products and services.
• The primary customer segments, including their characteristics, location, and buying behaviors.
• The unique value proposition that differentiates the unit’s offerings from competitors.
• The major competitors and the sources of competitive advantage.
• The sustainability and long-term viability of these advantages.

Insights from this interview inform subsequent analysis by aligning internal views with market realities and competitor positioning.

Part II: Analytical Approach to Product Portfolio

Following data collection, a detailed analysis entails identifying the specific business unit and focusing on particular products or services. This analysis assesses target customer segments by tailoring marketing strategies to relevant geographic and behavioral characteristics. Understanding why customers choose a product involves evaluating how well it meets their needs, and identifying unmet needs informs opportunities for innovation or repositioning.

Market positioning analysis involves comparing the product’s features, quality, price, brand image, and availability against main competitors. Recognizing points of differentiation helps clarify the competitive advantages and their sustainability. For instance, a product that offers superior quality or a strong brand image may sustain a competitive edge, provided these factors are difficult for competitors to replicate.

Additionally, evaluating the source and sustainability of competitive advantages involves examining factors such as proprietary technology, customer loyalty, economies of scale, or strategic partnerships. Long-term sustainability depends on whether these advantages can withstand market changes, technological shifts, or competitor responses.

Part III: Competitive Matrix

The comparison matrix visually summarizes how well key customer needs are met across different products. Listing customer wants such as affordability, quality, convenience, and innovation allows clear comparison of a company’s offering with competitors’. Assigning scores provides a quick reference to identify where the product excels or needs improvement.

This matrix not only aids strategic positioning but also guides tactical decisions such as product development, marketing focus, or partnership strategies. It highlights gaps in meeting customer needs and opportunities for differentiation.

Conclusion

Conducting a strategic audit of a product portfolio involves a combination of qualitative insights and quantitative analysis. Managerial interviews capture internal perceptions, while market and competitive analyses identify positioning opportunities. The resulting insights support strategic decisions aimed at strengthening competitive advantages and ensuring sustainable growth. Successful strategic management hinges on understanding customer needs, differentiating offerings, and continuously evaluating the sustainability of competitive advantages in a dynamic marketplace.

References

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• Grant, R. M. (2019). Contemporary Strategy Analysis (10th ed.). Wiley.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2020). Strategic Management: Concepts and Cases: Competitiveness and Globalization. Cengage Learning.
• Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press.
• Thompson, A. A., Peteraf, M. A., Gamble, J. E., & Strickland III, A. J. (2018). Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases. McGraw-Hill Education.
• Prahalad, C. K., & Hamel, G. (1990). The core competence of the corporation. Harvard Business Review, 68(3), 79-91.
• Kim, W. C., & Mauborgne, R. (2004). Blue Ocean Strategy. Harvard Business Review, 82(10), 76-84.
• Levy, M., & Weitz, B. (2012). Retailing Management (9th ed.). McGraw-Hill Education.
• Stone, R. N., & Woodcock, N. (2014). Interactive, direct and digital marketing: A future direction for sustainable marketing. Journal of Direct, Data and Digital Marketing Practice, 15(4), 262-263.
• Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. Wiley.