Summary
Summary Key information from the AQA syllabus on strategic direction
- Module
- AQA Business
- Institution
- AQA
A detailed summary of key theorists and knowledge
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choosing strategic directionStrategic direction: choosing which markets to
compete in and what products to offer PRODUCT DEVELOPMENT
a growth siohategy
:
invent a business
aims to introduce nun products into
ANSDFF 'S MATRIX :
busting Mahmut
MARU ET PENETRATION
'
:
M a l l that helps a business hand lttlntDms are common product
a
planning Mannering a growth senatagey
where businesses own v9 : -
to determine its product and market isthatAGY into easting manners development slnatagleseg : cone life
to set bursting products
-
to the same
-
technological innovation provides
-
sewing more lasting products significant opportunities for product
target customers
customers to
buy more
development eg : Ayson
getting wasting
-
busting products + -
a stwatetgey that often plays to the strengths
-
widen the range of of an established business
→ naped growth in Un targeting
: Aldi
eg first mower advantages
-
base with
the same customer
hull stones
-
lap biting the busting customer base
and Drbdllcts moderate rusk
business focus on manures
-
_
+
money takes time and
-
it hnsuls well
-
developing new products
needs to be undertaken
new market careful manner research
unlikely to need significant
- _
research
on what customers want
-
can ecptsit insights
MARUET DEVELOPMENT
:
w i ll allow the
- -
not certain the strategy
where the business seems to
business to achieve its growth objectives a growth sewatcvgey
new manners
sell it 's ousting products into
-
new geographical markets emerging
DIVERSIF ACATION :
a business
-
new destiniesutbn channels
the growth strategy where
oiiggenene pricing panics
to attract new customers
in nine manners
-
mantillas in null products
that accumulates in eufflnent segments
/ a conglomerate
eg alphabet when they wish to owns.by )
:
-
eg : standwells expansion into China
new businesses
innovation to clllllbp null solutions + -
a between
sthatagey where existing
+ -
brand into the mm markets one saturated on in decline
-
extend an wasting -
canexpand the customer base
martlet movierushy than product development
- -
-
-
economies of scale
was no athlete
pantrcruan.ly expansions into overseas
pushy if the business
-
-
manners
of the market
mince experience of the production
ans0885 doesnt take eg : -
easting Abducts may not suit nun
seaweed with
wish
-
can
range overran
-
marmots depends on
into account competitors -
customer needs
went into
on the tune stalls engines then
market
the phone
Strategic positioning: choosing how to compete
strategic positioning relates to how a product should be positioned to
give it the most
competentme position in the Monnet the attn of the business is to then
strategically
.
position itself differently from its competitors .
COMPETITIVE ADVANTAGE :
it is a sustainable advantage
that a business was over
competitions that enables it to
BDWMAWS STRAT GIC CLOCK :
Sweeden manner .
the customers pencilled 2
hey areas of competitive
degree of added value advantage :
-
cost advantage → where a
business is able to produce
its product at lower cost
than the competition .
-
differentiation advantage →
Where a business is able to
0 differentiate its product
from the competition such
that customers perceive
7-
superior value .
8 competitive advantage
Uhud to porters generic
strategies :
non competitive strategies b. 7 . 8
PORTERS GENERIC STRATAGIES :
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