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Global Marketing Strategy. Project Shakti. - Essay Example
Author : ohalvorson
Pages 4 (1004 words)
Every organization in the world of today is started with the objective of making profits unless it is a parastatal. Thus, business organizations will strive to gain and maintain customer loyalty, to obtain a satisfying market share and maintain it. …
Still, it is undeniable that unless a business is a monopolist, it will have to face competition in the market. As a result, a market will always consist of many business organizations competing for the same customers and the same profit making opportunities. Therefore, it is the duty of the management of the organization to device strategies and mechanisms that it can use to be ahead of its competitors. This is referred to as gaining competitive advantage (Chaston, 2012). In the global markets, an organization faces competition from a variety of organizations. Therefore, the company has to build and sustain its competitive advantage in order to succeed in such an environment. How can Shakti contribute to HLL’s bottom line? It is for this reason of gaining global market competitive advantage that HLL formed project Shakti. Shakti can contribute to HLL’s bottom line by using implementing a number of strategies. One key strategy is the creation of new brands. The Shakti project can come up with new and unique brands in the market to assist in catching the attention of already existing customers (PWC, 2011). In addition, new customers will also be attracted and thus, this will be an easy way of creating customer loyalty for the organization. The management will also have gained competitive advantage since; it will be the only provider of that product in the global market. ...