Strategy and Competitor Analysis

Strategy and Competitor Analysis

The main approach and strategy that the company seems to want to explore include the best way of defining a media system that would best realize the company goals. The media company is seeking to ensure that they embody the idea of a firm brings out content that its audiences actually care about. The content advertising strategy that the company is using involves corporate videos where the planning committee wants to develop the best approach for a corporate video that will resonate with the audience. In a panel discussion, the relevant stakeholders, such as the head of the company, discusses the apparent market factors and how they affect the company goals. However, the firm faces challenges in its long-term strategies and only focuses on the day to day market trends.

Currently, the firm seems to be working in a highly dynamic market environment. As such, the firm chooses to focus on its short term by tackling new objectives and challenges by the day. Essentially, the firm relies on national logistics regarding the most interesting topics that people want to view (Mgmt. Prof, 2016). Aside from an aggressive marketing style where the company adopts a new niche before it gets to the market, the firm is much similar to Kroger in its approach to the grocery industry. Kroger currently strategizes on refurbishing its brand reputation by ensuring that it gives the best customer experiences both in offline stores and online (Dwyer, 2019). The consumer focus of the firm had to do with enhancing the quality of their products. The main approach involved developing videos that exceed the apparent quality standards and those that can compete successfully with TV channels and other media companies.

By surpassing the standards of its competitors, the firm hopes to appeal to its customers more. However, Kroger suggests an elaborate bottom-line approach through its long-term strategies, which makes its approaches much more effective in yielding profitable results. Kroger Company thus differentiates itself from the firm in the sense that its expansions and profitability suggest an economy of scales, and their bottom-line approach is working for them in terms of ensuring that they position themselves for growth. Kroger ‘Customer first’ strategy where all trivial business decisions have to consider the role of customer trends, needs, and preferences (Dwyer, 2019).  In the case company, the firm mainly focuses on research and knowledge where it monitors its industry trends and competitors. Without any proper long-term approaches and lack of definitive economies of scale, the case company may find it difficult to adopt an effective bottom-line approach. Furthermore, the case firm will not be able to maintain such a wide consumer following without developing long term planning and strategies for growth and enhancing the market.

References

Dwyer, Kate. (2019, August 2^nd). Kroger is Upping Its Advertising Game. Fortune.com. Retrieved from https://fortune.com/2019/08/02/kroger-names-ddb-advertising-agency-of-record-omnichannel-grocery-strategy/

Mgmt. Prof. (2016). The Management Picture: Quick Takes Video.

Youtube.com. https://www.youtube.com/watch?v=jgA5oI9GqZ0