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The Manager's Guide to Competitive Marketing Strategies

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Competition is the key to quality products and it entails sacrifice of many things. Success demands that you create a competitive edge for your products to outnumber other rival products. This will have an impact on the product menu and the final consumers who want the product. As a managing director, you need to take into consideration various factors before changing the products. With the competitive edge at hand, you need to maintain the trends of upcoming technology without failure. Thus, flexibility of your company is core (Paley 10).

Choosing a product is not a challenge, rather but it’s a decision made after thorough research. This comes in after you have discovered that your product is unique and that the market area you are serving is conscious of your product. Competitors are the main challenges that you need to fight. By producing the new design burgers and sandwiches, competitors should not be in the position to have alternative products.

Revenues are the main things that a company looks for in starting a business. This is determined by the market structure that you will be operating. Having new customers in line, has a greater advantage since they increase the volume of goods sold. A mechanism to hold back existing customers should be improvised since BK needs to maintain an increasing curve to revenue collections.

A good advertisement should create fast awareness for the product. As an extra cost to the cost of production, BK should consider minimum expenses to maximize profits. Fast foods are quick to move meaning that the burgers and sandwiches created will attract attentions to many consumers. Price is a key factor to the determination of revenue and profit. Consumers will have to weigh on the most affordable considering the product quality. In conclusion, ethical considerations need attention. This is one key factor that will stimulate consumers to make use of your products. Factoring out this will claim your products not suitable for consumptions.

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