Elements of Strategic Alternative Bundles

Differentiation -Because there is stiff competition in the industry for comparable goods, a company creates more features on products to make them look exclusive (Abraham, 2012).

Price focus: A consumer positioning tactic in which a company competes by cutting prices in order to deliver a cheaper price.

Adjacent companies: Refers to a different entry approach for corporate activities in which businesses rely on current customers’ preferences.

The development of new goods for consumers in a developed or new market. The development of new technologies can be challenging at times due to management problems and costs. It is difficult to create more alternative bundles is difficult because there are numerous strategies available (Abraham, 2012).

Six criteria to be met by strategic alternative bundles

It should be in a position to explain firm’s opportunities in the market such as innovative products that customers like.

It should be able to give a description of marketing trends such as customers’ tastes and preferences and purchasing habits of customers (Abraham, 2012).

The bundle should give details about company’s strengths and weaknesses, and the length of creating new product and launching the same.

The bundle should give details about possible threats to the company such as fall in market prices or inadequate raw materials.

The bundle should give details about other elements other than profitability ratios of the company.

It should describe internal and external elements of the culture of the company and strengths of competitors.

It is essential for bundles to address all the major strategic issues because it is only through this that strategic bundles will meet strategic goals and objectives of the firm (Abraham, 2012).

Reference

Abraham, S. (2012). Strategic management for organizations. San Diego, CA: Bridgepoint Education.