UNIT 8 - BOWMANS STRATEGIC CLOCK Flashcards
What does the clock plot
options open to bs on a clock
What does clock higlight
there’s many options open t a bs enabling them to be copetitive
From using the clock its possible to
analyse the strategic positioning of bs
and where may want to be in the future
Give examoptions reating a restaurant that allows it to be competitive
offering a fairly basic menu, self service and limited customer service
if price is low enough may be regarded as good value for money and busienss therefore considered competitive
give example of options a four star restaurant could have to make it copetiive
offer four star menu highlly rated by food critics in luxury hotel environ with superb custoemr service from waiter
price may be high but if food and service merit, may be seen as good value for money
(differentiation strategies)
give example of combo not realistic/uncompetitive
basic service at relativley high price is uncompetitve as customers will switch to rivals
give example of combo unrelasiric lux service
offering luxury service at low price very attractive to custoerms but unlikely to be financially viable as bs wont be able to cover costs of high level benefits provided
where is differentiating without a price premium
12 oclock
why may a bs use diffrentiating wthout price premium
to increase market share thorugh low peice and uniquer product
where i differentaitiong with a price premium
1 oclock
why might a bs use differntiating with pric premium
increase profit margins
and use for reinvestment into r&d for NPD
where i sfocused differentiaiton
2 oclock
why might a bs used ficus differentiation
target customers demand highest quality
+ pay big premium for example phillipe patek watches
where is a lwo price strategy `
8-9 o clock `
why might a bs use low price strategy
to achieve hgiher benefits and lower prices relative to those of competitors
