Provide an example of your interpretation of a business strategy and how it is used either at a...

Question

Provide an example of your interpretation of a business strategy and how it is used either at a company where you work or have previously worked. Illustrate your answer with examples. In your opinion, was the described business strategy successful in achieving its stated goals? Why, or why not?

Soumi · Accepted Answer

Running Head: MARKETING MANAGEMENT	1
MARKETING MANAGEMENT 		5
MARKETING MANAGEMENT
Table of Contents
Interpretation of a Business Strategy	3
Its Application in an Organization with Examples	3
Analyzing if the Chosen Business Strategy achieved its Organizational Goal with Justification	3
References	5
Interpretation of a Business Strategy
Business strategy is a terminology used in a broad sense for any type of technique that business organizations use for running their business, achieving their stipulated organizational goals and gaining success in the market. The chosen business strategy for interpretation is Price Differentiation. According to Rosemann and vom Brocke (2015), it is the way of differentiating the prices of products or service of one’s own organization than from that of its competitors. Thus, this strategy helps the applying organization to gain competitive edge over its rivals by attracting more number of customers due to offering better prices. For example, Taco Bell and Chipotle are two organizations selling similar products;

Provide an example of your interpretation of a business strategy and how it is used either at a company where you work or have previously worked. Illustrate your answer with examples. In your opinion,...

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