Strategic Alternatives
Strategic alternatives available to companies in the article
The first strategic alternative that is available to Tech Armor is diversification. This is a type of growth strategy where a firm develops new products for existing or new customers. The strategy is crucial, particularly where the company is in the midst of stiff competition and is unable to gain a competitive advantage (Griffin, 2007). This is the case of Tech Armor as it is fiercely competing for clients with Amazon, eBay, and Best buy. Currently, the company has diversified into offering items such as USB cables and cases, and besides, has expanded from America to Europe.
Another alternative strategy is price focus as Tech Armor, Amazon, Best buy, and eBay target on a market that is almost saturated, hence, the need to concentrate on a low-cost structure that would distinguish each firm’s products. Coupled with the focus price strategy is differentiation, which calls the companies to incorporate features that would tell their products apart (Kozami, 2005).
Recommendations on how changed strategy might be advantageously made to other companies
Among the most advantageous strategic alternatives to the firms in the article is adjacent business structure. It involves entry into a market niche where other businesses are already fully established. When making an adjacent move, the firm needs to conduct an in-depth analysis of economic capabilities and customer preferences in order to offer products that will fit in the market.
Strategic moves that will put the initiating firm in the best position to fight the competition
Differentiation and diversification are among the best moves that will put the initiating firms in the best position to fight competition. Ideally, using these strategies, the companies will be able to incorporate product features that are nonexistent in the market, and besides, offer a variety of products, which in return will diversify their risks (Kozami, 2005).
References
Kozami, A. (2005). Business policy and strategic management. New-Delhi: McGraw-Hill Published.
Griffin, R. W. (2007). Fundamentals of management: Core concepts and applications. Boston, Mass: Houghton Mifflin.
