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Global Marketing Strategy. Project Shakti - Essay Example

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Global Marketing Strategy. Project Shakti

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. Therefore, it is highly probable that the price of the product will not be affected by other market prices. Creation of new products should also be accompanied by high quality products and efficiency in production. With high quality products, customers will be able select the organization’s products out of the products of the competitors. This will help HLL in building global competitiveness since it will be a step further as compared to its customers. Use of Price Leadership Strategy Shakti can also achieve HLL objective by using the strategy of price leadership. Instead of being the follower, the organization could focus on always being the price leader. This way, it will be able to set its prices according to its costs of production. Price leadership is a strategy that assists in building competitive advantage since; the organization will be the one setting the prices of the competitors. Therefore, the organization has the advantage of being able to choose the quantity to supply to the market while, the competitors’ supplied quantities are dependent on the supply of the price leader (Hill & Jones, 2012). What economic value is Shakti creating? What social value? Social Values Shakti is creating a lot of economic and social values in the Indian Society through a number of ways. One social value that stands out is the empowerment of women (Rangan & Rajan, 2005). In India, a large number of women are underprivileged and marginalized. Having women being involved in the Shakti project was a way of making women feel needed and of importance to the society. It is thus a way that promotes social values in the society since women are able to hold a place in society. The society also develops since; with men already at work and women now occupied with the Shakti project, there will be no idlers and thus the society will achieve more. Economic Values The Shakti project also comes with a number of economic values; one of the main economic values is the introduction of information technology to the Indian villages (Rangan & Rajan, 2005). In addition, creating the communities portal is a way of enlightening the villagers and introducing them to new ideas and information sources. With access to a wide variety of information, the villagers might also become more innovative thus enhancing the economic value of the village. The villagers can ...Show more

Summary

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. …
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Global Marketing Strategy. Project Shakti essay example
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