Question

PRODUCT DIFFERENTIATION- GIVE the three srategic objectives that the company should aim to achieve within next five years and identify with justification a control mechanim for each straegic objective?

Answer 1

1) To offer such products which comes first time into the market as compared to the competitors.

It will increase the customer base as well as the brand Extension. Even , more revenues can be generated by tapping each segments.

To control the activities, a team of executives will be deployed to overseas and recommend the best possible course of actions.

2) To stop selling the outdated products and services

People fed up with our old offerings that's why we have plan to reduce the old offerings which has low profit margins as well as many challenges associated with them.

Sales and marketing channels will be regulated as not to replace our products with other sellers . We shall give them incentives when they will distribute our substitutes or innovative products. It can be analyzed on the basis of revenue generated by keeping track on the past trends.  

3) Offering online delivery through own development websites:

It will be a new segment but definitely we shall tap those customers who don't have much knowledge about our offerings.

To control such sales and quality delivery of goods and services, we shall intiate technological advancement like software tools, real time messaging, biometric identification of customers and value delivery in services offered.

A team will be responsible to ensure feedback from the customers . Online responses will be recorded and if gaps will be there then necessary actions might be taken.