The paper "Competition Policy for Small Market Economies" is a perfect example of a Marketing Assignment. The mission statement of UNE Life seeks to provide quality services to the consumers of their products so as to improve the business name as part of their marketing strategies. It, therefore, seeks to ensure that the consumers of distance education participate successfully in the activities of the institution on the same basis as the other students undertaking regular courses. SMART objectives The University of New England was founded under the University of New England act of 1993.
According to the act and its by-laws, the university comprises of the students, graduates, the UNE council and the full-time staff. One of the smart objectives of UNE Life is that it strongly supports strategic planning within the institution. UNE Life has been keen to provide the consumers with an opportunity to be part of the leading and most successful distance education facilities. The institution strongly supports the implementation of some important strategies that will allow them to reclaim their once held first position of being the best providers of the distance education program. The UNE Life also seeks to provide an institutional structure that promotes the sharing of skills and knowledge to enhance progress and development within the UNE Bookshop.
The organization has increased the product range for its goods to include that of the sale of second-hand products that are usually provided to the consumers at subsidized prices. The organization has also been routinely updating their online catalog to ensure that the consumers get to have all the products and resources available to them according to their different needs. Hierarchy of strategies for UNE Life A strategy could be defined as important patterns that encompass all the planned objectives of an organization.
A strong strategy should comprise of the objectives that need to be achieved, the products and the market that is to be focused on to achieve such objectives and how the resources are to be allocated in the organization. A well-developed strategy should have a hierarchy which in the case of UNE Life comprises three major levels namely; the corporate strategy, the business strategy, and the functional strategy. The point of focus for the UNE Bookshop is the functional strategy that focuses on the objectives that need to be achieved for specified products in a given market. Porter's five competitive forces model Porter’ s five forces analysis was a framework that was developed by Michael E.
Porter, a professor at Harvard University. The framework was developed to analyze the various levels of competition within the business strategy development. It portrays the industrial institution (IO) economics to obtain the forces that are important in understanding the intensity of competition that the institution faces in the market.
Porter's five forces analysis is used for strategic management. Porter developed the five forces analysis for the purposes of complementing the SWOT analysis that had become famous in business analysis. The Porter five forces analysis was to identify all the threats that the business faces. Porter divided the analysis into vertical and horizontal threats. According to porter, competition is the greatest threat that businesses face and thus the vertical competition for businesses is the bargaining power of customers and the bargaining power of the suppliers. The horizontal competition is divided into three parts namely; the threat of new entrants into the market, the threat of established and already existing rivals and the threat of close substitutes for products and services provided for by the business.
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