Developing a strategy for your firm is a key part of success in the StratSim environment. Your
Question:
Developing a strategy for your firm is a key part of success in the StratSim environment. Your strategy will serve as your firm’s “roadmap” throughout the simulation. Your plan should consist of 5 elements: Business definition and rationale, source of competitive advantage, performance objectives, key success factors, and strategic assumptions. You may also find it helpful to review the Market-Based Marketing Management section of the StratSim manual. Please respond to the following questions to create an overall definition of your strategy. You may choose to address these in PowerPoint presentation format or in a maximum of two pages. Please provide your assignment to your instructor before starting your decision.
Who do you want to serve and why? Be sure to include customers/segments to be targeted and customer needs satisfied. What is the rationale for these choices (examples: segment attractiveness, market gaps, fit with resources, synergies)?
What competitors will you compete against and how Performance objectives?
What are your firm's performance goals eg cumulative profit stock price market share intermediary metrics Key?
Expert Answer:
ANSWER Competitive advantage refers to factors that allow a company to produce goods or services bet... View the full answer
