Competitive positioning strategy and generic recommendations for Essay - 1

Competitive positioning strategy and generic recommendations for management 1042 - Essay Example This is because the Bowman’s strategy close helps companies to identify their unique competitive positioning based on their products or service and the pricing model they want to use with these. In a more practice term, companies are found to gain the best form of advantage with their competitive positioning when they are able to have a tangible competitive positioning action plan. This action plan may be composed of several practical tasks to be performed, including market profiling, customer segments, competitive analysis, among others. The world can now be referred to as a global village for several reasons. One of the most reasons is the fact that businesses can now move very easily from one point to another in attempt to expanding their market presence. But as companies move from one point to the other to do business, it is always important that they will appreciate the fact that there is competition within the places they go, a reason of which they must strategically place themselves in a way that makes them take all needed advantage on the market. Brown (2008) indicated that in any competitive market, the only guarantee for individual companies to succeed is for them to have a competitive advantage that is lasting. But for such an enviable competitive advantage to be developed, it is very important that a company will know what it has within its means and how it is positioned in the larger market that serves as an opportunity for improving its value (Porter, 1996). Baumeister and Leary (2005) noted that customers today are highly enlightened about value creation, a reason for which they would select value as the best force factor for doing business with one company and not the other. This is where competitive positioning becomes an important phenomenon for the companies. This is because competitive positioning has been explained to be the process of identifying a company’s value