4 student replies
Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100–200-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:
- What did you learn from your classmate’s posting?
- What additional questions do you have after reading the posting?
- What clarification do you need regarding the posting?
- What differences or similarities do you see between your posting and other classmates’ postings?
STUDENT 1:
The brand I chose is a leader and it is the car manufacturer, Subaru. I chose Subaru for many reasons, they are a great car to own, I own a 2018 Subaru Forester and it is the best car I have owned so far. A back story on Subaru, Subaru as an aircraft research company named Fuji Heavy Industries in 1915, they soon reorganize to become the chief aircraft manufacturer for Japan during World War II. After the war effort, the company pivoted towards car manufacturing, thus creating the Subaru brand. Subaru currently manufactures cars, trucks and SUVs.
When assessing a brand to determine if it is a leader or follower there are many things I look at, the approach the company is taking can determine if it is a leader or follower, for example a brand follower will copy a branding technique that the leader is doing or try approaches that the leader has been doing. A brand leader uses it’s creativity and consumers to determine how they want to take a branding approach, they also use memorable and unique advertising to catch the consumers eye.
The differences between a brand leader and brand follower in advertising or publicizing is that a brand leader is always leading by coming up with new catchy ideas for their consumers. The leaders are always trying to figure out new ways and answers to difficult questions always changing the game for customers. The leader is always analyzing information in regards to advertising and publicizing to make it more appealing to the customer as well as interesting.
The brand follower is working to stick with what the leader is doing. Copying and working on the low end of the spectrum to maintain a under the radar approach but also find themselves a lot of the time continuing to play catchup chasing the consumer demand which they have no influence. The follower is also using these approaches to save money and cut corners for their advertising process, which in the long run looks bad, as a result of this it ends up not working in their favor.
In the end the follower does not make it out on top and stays away from being appealing or interesting to the customer which in fact comes to bite them in the end. in order to be an industry leader you must take new approaches and find what is appealing to the customer as well as adapting to the innovation of publicizing and catching the attention of the customer.
References:
Subaru, Tesla dominate this week’s news at The Car Connection, Robert Duffer February 19, 2022 Retrieved: May 22 2023
Market Leader vs market Follower Retrieved: May 22, 2023
https://oneilinteractive.com/blog/2019/10/market-leaders-vs-market-followers/
STUDENT 2:
- Is the brand a leader or a follower?
My favorite brand is Apple. In the technology industry, Apple is undoubtedly a leader. The company has built a strong reputation and has become synonymous with innovation, quality, and sleek design. Apple products, such as the iPhone, MacBook, and Apple Watch, are highly sought after and often set the standard for other companies to follow.
- As a customer, what factors do you assess to determine whether the brand is a leader or a follower?
As a customer, I assess several factors to determine whether a brand is a leader or a follower. Firstly, I consider the brand’s track record of introducing groundbreaking products or services. A leader consistently pushes boundaries and introduces new features or technologies that have a significant impact on the market. Apple’s introduction of the iPhone, which revolutionized the smartphone industry, is a clear example of their leadership.
Secondly, I look at the brand’s market share and customer loyalty. A leader usually commands a significant market share and has a strong and loyal customer base. Apple has consistently maintained a large market share, and its customers are known for their brand loyalty, often eagerly awaiting the company’s product launches.
Thirdly, I consider the brand’s reputation and perception among industry experts and the general public. A leader is respected and admired for its expertise, innovation, and ability to set trends. Apple is widely regarded as an industry leader, and its products are often praised for their quality, user experience, and design aesthetics.
- What is the difference between the advertising or publicizing that a brand leader does in comparison to what a brand follower does in the marketplace to present itself to customers?
In terms of advertising and publicizing, a brand leader like Apple adopts a proactive approach. They invest heavily in marketing campaigns that focus on product features, unique selling points, and the overall brand experience. Apple’s advertisements highlight the innovation, simplicity, and elegance of their products, often creating a sense of desire and aspiration among consumers.
On the other hand, a brand follower typically takes a more reactive approach to advertising. They might emphasize their similarities to the leader brand or highlight their competitive pricing as a way to attract customers. Brand followers often try to capitalize on the success and popularity of the leader brand by offering similar products or services at a lower price point. While they may not have the same level of marketing budget or brand recognition as the leader, they rely on strategic positioning and targeting specific customer segments to carve out their niche in the market.
Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100–200-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:
- What did you learn from your classmate’s posting?
- What additional questions do you have after reading the posting?
- What clarification do you need regarding the posting?
- What differences or similarities do you see between your posting and other classmates’ postings?
STUDENT 3:
Competitive Advantage
When creating a competitive advantage, a company’s highest priority should be to deliver superior value to its customers. The competitive advantage arises from the ability to differentiate a company’s products or services from its competitors in ways customers perceive as valuable. A business with a competitive advantage over another will be able to outperform the competition and make a more significant profit. Indeed Editorial Team (2022) stated, “Competitive advantage also means the business can outperform its competition in the market and make a higher profit.” A company can develop a strong market position and achieve sustainable growth by better understanding and fulfilling customers’ needs and preferences than competitors. This entails focusing on product innovation, enhancing customer experiences, and providing excellent customer service. Therefore, a company’s primary goal should be to align its competitive strategy with customer value creation.
Information technology can significantly contribute to a company’s competitive advantage by enabling the efficient collection, analysis, and interpretation of data. Using big data analytics is an example of a competitive advantage created by leveraging IT. Companies can collect vast amounts of data from various sources, such as customer transactions, social media, and market trends. By employing sophisticated data analytics tools, these organizations can extract valuable insights, identify patterns, and make informed business decisions. Frankenfield (2023) stated, “A company can also use data analytics to make better business decisions and help analyze customer trends and satisfaction, which can lead to new—and better—products and services.” The effective use of IT in analyzing data allows companies to make data-driven decisions, optimize operations, improve efficiency, and stay ahead of competitors. For instance, an e-commerce company can utilize IT to analyze customer purchase history, browsing behavior, and demographics to personalize product recommendations and marketing campaigns. The company can enhance customer satisfaction, increase sales, and gain a competitive edge in online retail by tailoring its offerings to individual customers’ preferences.
While leveraging information technology to gain a competitive advantage is essential, it is equally important for companies to follow the proper ethical considerations. Some vital ethical considerations are privacy, data security, fairness and transparency, and responsible data usage. Companies must respect customers’ privacy rights, ensure data collection, and comply with applicable laws and regulations. Taylor (2023) stated, “Data security is also important because if a data breach occurs, an organization can be exposed to litigation, fines, and reputational damage.” Transparent data practices and obtaining informed consent are critical to maintaining trust and avoiding potential data breaches. Organizations must invest in robust cybersecurity measures to protect sensitive customer data from unauthorized access, data breaches, and cyberattacks. Safeguarding customer information is essential for maintaining trust and avoiding reputational damage. When using data analytics for decision-making, companies should ensure that the algorithms and models are fair and unbiased. Transparent and explainable AI systems can help mitigate issues related to algorithmic bias and ensure proper treatment of all stakeholders. Companies should be mindful of how they use customer data and ensure it is not exploited or misused. Sharing data with third parties should be done with appropriate consent and in line with privacy regulations to ensure no regulations are violated.
References:
Corporate Finance Institute. (2023). Data Security. Corporate Finance Institute. https://corporatefinanceinstitute.com/resources/data-science/data-security/#:~:text=Data%20security%20is%20also%20important,consumer%20confidence%2C%20and%20brand%20erosion.
Frankenfield, J. (2023). Data Analytics: What It Is, How It’s Used, and 4 Basic Techniques. Investopedia. https://www.investopedia.com/terms/d/data-analytics.asp
Indeed Editorial Team. (2022). What Is Competitive Advantage, and Why Is It Important? Indeed Career Guide. https://www.indeed.com/career-advice/career-development/what-is-competitive-advantage-and-why-is-it-important#:~:text=The%20purpose%20of%20having%20a,and%20make%20a%20higher%20profit.
STUDENT 4:
Developing a competitive advantage is essential for a company’s success in today’s fast-paced business world. According to the article “Digital Transformation – How to Differentiate and Create Competitive Advantage in the Digital Era” (Digital Transformation, 2023), the highest priority for a company when creating a competitive advantage should be delivering unique value to its customers. By understanding and meeting customer needs better than competitors, a company can differentiate itself in the market and establish a long-term competitive advantage. This necessitates a deep understanding of customer needs, market dynamics, and emerging technologies.
An example of how information technology can provide a competitive edge is through the use of customer relationship management systems (CRM). The article highlights that CRM systems help companies gain a better understanding of their customers by collecting and analyzing customer data. This enables companies to have insights into customer preferences, purchase behaviors, and interactions. As a result, companies can customize their marketing efforts, offer improved products, and provide excellent customer service. This strategic use of technology allows companies to build strong customer relationships and enhance customer satisfaction, loyalty, and retention (Digital Transformation, 2023).
When using information technology to create a competitive advantage, ethical considerations must be taken into account. The proper management of customer information and privacy is a crucial ethical factor. Companies should ensure that they adhere to legal and ethical guidelines when acquiring, storing, and utilizing customer data. This includes obtaining appropriate consent for data collection, maintaining data security and privacy, and being transparent about the use of customer data (Digital Transformation, 2023).
Ethical considerations also extend to the impact on employees and society. Technological advancements that contribute to competitive advantages often involve automation and artificial intelligence, which can result in job displacement and changes in the workforce. The article suggests that companies should consider the social consequences of these developments and provide support and retraining opportunities for affected employees. Furthermore, ensuring fairness and transparency in algorithms and technology-driven decision-making processes is crucial to avoid biases or discriminatory outcomes that could have negative social repercussions (Digital Transformation, 2023).
Additionally, companies should refrain from engaging in unethical practices such as price-fixing, intellectual property infringement, or unfair competition tactics through the use of information technology. Upholding fair competition and adhering to legal and ethical standards are essential for maintaining trust and fairness in the market (Digital Transformation, 2023).
In conclusion, according to the article, the highest priority for a company in creating a competitive advantage lies in delivering unique value to customers. Information technology, particularly CRM systems, can be instrumental in achieving this advantage. However, it is vital to accompany the use of technology with ethical considerations. Protecting customer privacy, addressing the impact on employees and society, and promoting fair and transparent processes are essential for creating a competitive advantage in an ethical manner. By responsibly utilizing technology, companies can differentiate themselves, build trust, and achieve long-term success (Digital Transformation, 2023).
