Limited Brands Central Problem to be solved Lecturer: Limited Brands Central Problem to be solved Introduction The technology advancement has contributed to increased competition in the global market. Companies have nowadays started looking for means of surviving in the competitive market through employing effective marketing strategies. Limited Brand Inch is of the retail industries facing competitive challenges in the globalised economy. The increased use technologies have made many companies to utilize e-commerce with an aim of increasing sales; thus generating high revenues and increasing profitability levels. In the global trading regimes, customers have a variety of choices; thus business need to be more customer-centric since technology has evolved, which offer customers lower cost brand provision and customer solutions.
Central problem: Limited Brand Inch is facing intensive competition from their rivals because of difficulties in managing their local brands in the global market; hence the need to develop a strong brand that will offer them a competitive edge. Bensoussan and Fleisher (2008) in their book of analysis without paralysis offer varied effective tools vital for enabling the company to make better strategic decisions.
Therefore, TOWS or SWOT analysis is one of the effective strategic tools that Limited Brands Company can employ in order to achieve a competitive advantage. SWOT analysis is an effective strategic planning tool for assessing the internal and external factors, which are favorable or unfavorable to the company operations (Bensoussan and Fleisher, 2008). For instance, for the Limited Brand Company to achieve a competitive advantage, they should try to harness their organizational resources and existing capabilities. This is crucial because it will enable them to develop an effective competitive opportunity over their rivals.
They can build on their patent rights, improve their brand names and access valuable distribution channels to improve the sales of their products. The company can improve on their area of weakness in order to achieve a competitive advantage. For instance, poor brands, lack of efficient resources, inadequate technology or resources and poor positioning of the business would be a weakness to the company. Therefore, the company will focus on these areas in order to make significant improvement; thus enabling them to perform well in the competitive market.
Furthermore, taking advantage of opportunities and reducing vulnerabilities to threats, as well as developing organizational capability through increasing training programs is vital. For the Limited Brands to achieve success they should analyze the potential opportunities such as the ability to offer great value or services that meet the demanding needs of customers, they can use of new technologies and remove trade barriers. Having known these as their opportunities, it will be easier for the company to remove threats than may hinder them from achieving their stated objectives.
The threats such as trade barriers, economic downturns, consumer behavioral changes and substitute products can deteriorate company revenues or profits. The organizational synergy of the company will be about building an effective team whereby people and process would be merged to enable the company to continuously expand their capabilities. This will enable them to deliver effective brands and services to their customers while maintaining a competitive advantage. The company will also achieve a superior structural position through applying the principles of products positioning in the targeted market. This can be carried out through differentiating products, positioning the price of products, positioning products based on competitors and customers; thus achieving competitive advantage.
Lastly, the organization can perform its process better than that of their rivals through focusing on structure, size and product portfolios. This will enable them to achieve superior execution process; thus enabling them to achieve effective competitive advantage. References Bensoussan, B. E., & Fleisher, C. S. (2008). Analysis without paralysis: 10 tools to make better strategic decisions. Upper Saddle River, N.J: FT Press.