Marvel Entertainment Inc. VI. EVALUATION AND CONTROL Based on the analysis of the current positioning of Marvel Entertainment Inc. , it is apparent that the company’s strategic intent was to expand to a broader realm of versatile operations that can be regarded as an aggressive competitive approach altogether. Nevertheless, concerning impressions caused by the external environmental threats, majorly due to the intense competition among the entertainment giants and the increasing risks to intellectuality property rights, the company must essentially be focused on applying effective evaluation and control measures (Wheelen and Hunger 15-1–15-15).
At this stage, the company must require mitigating its two major issues, Its competitive stance concerning weaknesses obstructing its healthy market growth and competitive edges Legal protection for intellectual property risks Evaluation and control of strategies to mitigate its marketing weaknesses. Concerning its currently witnessed threats, the company should emphasize its unique characteristics to differentiate its services from that of its competitors. Acquired by Walt Disney in 2009, a giant in the entertainment industry, the company however owns a substantial share in the global market sphere, which in turn minimizes its risks to market fluctuations along with offering it with a certain degree of immunity from competitive forces It is suggestible that the company applies a market research approach along with a quarterly financial analysis to assess whether this particular strategy has been helpful to mitigate its weaknesses in terms of declining market share (principally due to marketing competition forces), and in terms of dependence as well as scarcity of capital (Wheelen and Hunger 15-1–15-15) Evaluation and control of strategies to obtain competitive edges.
Additionally, it is essential that the company delivers due significance to its marketing strategies to create a better alignment with its customers as well as throughout its distribution channel with an intention to promote sustainability in the long run.
While applying these strategies, the company can evaluate its stance by way of gathering feedbacks from its end customers, as well as from its distributors throughout the chain As price, product/service features, substitution effects and changes in customer demands are deemed as the most influential aspects to industrial competition, it will be necessary for the company to obtain regular feedbacks from these stakeholders in order to enrich its decision-making process concerning its competitive strategies After identifying the gaps in the products/services delivered by the company through the above mentioned evaluation process, controlling measures can be taken to ensure that the customers’ demand shifts are recognized in a time-efficient manner and accordingly, strategies are taken to keep them satisfied throughout (Wheelen and Hunger 15-1–15-15) Evaluation and control of strategies to control intellectual property thefts.
The major threat for the company, when aiming to expand into other creative industries and worldwide entertainment markets is the rising issue of intellectual property right infringement.
Marvel has been practicing certain strategies in eradicating its intellectual property threats from building a separate divisional library to license and keep control on its intellectual properties for registering the copyrights in different nations Much to its disappointment, these strategies failed to ensure the desired benefits to the company Considering the issue that the company had to witness major losses due to virtual thieves of intellectual property, it is suggestible that the patents obtained are controlled in a manner that discourages virtual theft by satisfying the needs of the potential offenders at a discounted price As majority of virtual theft to Marvel’s intellectual property was committed by the contestants in Massively Multiplayer Online Role-Playing Games (MMORPG), the company can intend to use its superhero characters to design such entertainment products and mitigate the risks subsequently Following the implementation of this plan, the company must keep track of the rate of intellectual property thefts The management, in alignment with the relevant regulatory regimes, will accordingly control identified loopholes (Wheelen and Hunger 15-1–15-15) Work Cited Wheelen, Thomas L, and J.
David Hunger. Strategic Management and Business Policy: Toward Global Sustainability. New Jersey: Pearson Education, Inc. 2012. Print.