Competitive Strategy for Joy’s Creative Arts
Besides using business or competitive strategy, but it would be good to developed these five questions to focus on determining the strategies key competitors use and maintain successful and unsuccessful business. 1) What are the reasons for the company is successful and unsuccessful?, 2) How are the consumer motivates performance?, 3) What are the component costs? 4), and how can this industry work with mobile barriers? And 5) How can Joy’s Creative offer that their three competitors do not offer in their company? 6) What can this company offer unique dance programs and related services than their three competitors?, And 7) What customers wants and needs in dance programs? There are competitive strategies that use in this marketing plan.
The strategies will be use for this plan is best-cost provider strategy, a broad differentiation strategy and low-cost provider strategy. The best-cost leader strategy can help Joy’s Creative Arts to make decisions on changing the quality of offering dance classes that would be suitable for their target audience. This strategy also gives the company’s customers more value for the money by evaluating low and upscale differences. Joy’s Creative Arts can use this strategy to maintain good costs and prices lower than other competitors with good quality and features including raising customer satisfaction in dance programs. A broad differentiation strategy is suitable for Joy’s Creative Arts because it helps them to maintain low-cost in dance classes and related services, which appeals the high range of customers. For example, most customers love purchase products and services with low-cost and worth of spending in this situation. Hsieh and Chen (2011) claim, “A competitive strategy are series of systematic and related decisions give a business a competitive advantage than other businesses. The concept of business competitive strategy derived from Porter’s classifications of generic strategies” (p.12)
Joy’s Creative Arts’ dance classes cost between $10.00-$40.00 for weekly costs, $40.00-$160.00 monthly and $120.00-$480.00 for full three-month costs. For full 4-month costs, cost ranges from $160.00-$640.00, using 5-33 class cards are $60.00-$480.00, $15.00 for registration fees and workshops. The third competitive strategy used is low-cost leader strategy, which will benefit this company to maintain low-cost on dance classes and related services as a $15.00 registration fee and workshops, which is appealing to customers. Besides customers purchasing products and services, customers purchasing products and services with good quality new and worth the money.
Product Life Cycle of Joy’s Creative Arts
The market trends using product lifecycle stage will benefit to evaluate the products and services they can sell in a limited lifespan, companies had to invest in new product or service development in order to maintain business growth. Doha, Das and Pagell (2013) suggested, “Cost and innovation are frequently conflicting criteria in supplier selection, and typify the contrasting primary needs of products and markets in different stages of growth. Quality used as a performance outcome in our study. Persisting variance in delivery dependability is typically remedied quickly in most supply markets, and, as such, has not included in the study. Cost and innovation are continuing mandates that never are “remedied” as such” (p.472).
The introduction stage is hiring a marketing company to promote the company’s services, Encrease.com Company and paying $29.00 per month fee the best way to increase awareness of the current performance company in target area. At this point, there are 528 views, 2903 visitors from Encrease.com, two views on Facebook.com, 198 views on blogs. Then, there are 195 views on Word Press, 1,052 views on Youtube.com and four subscribers and two followers on Twitter.com. Because this strategy is successful, the company will continue to market the dance classes with this marketing strategy. Walker Jr. and Mullins (2011) states, “Penetration pricing enables the firm for quick market development. It makes sense when lowers costs; a large market; and strong potential competition” (p.199)
Another marketing strategy that will give the same results as using Encrease.com is a direct mailing. The flyers will be sent to different communities in different neighborhoods in order to receive the same results as promoting banner ads on different websites online. Residents will also receive direct mail flyer open house about getting 30% off coupon sign up for class, develop a website at www.joyscreativeartsbiz.com, www.joyscreativearts.com and www.joyscreativeartsbiz.soy that also increases awareness of customers. This company has set up a Facebook page but need to improve the reviews in this social media page. It is suggested to get 30 people sign up to attend free dance classes for one week, which will help to get more to people join dance classes offer at Joy’s Creative Arts. There will introduction classes on the first week of classes and get more people interested in summer classes.
Maturity stage involves web, and non-we audience hosted all dancers to perform in dance project events. Joy’s Creative Arts promotes upcoming activities each year including new classes being developed. This opportunity will promote a success performance company with accomplishments of staffs and customers in dancing. The decline stage is having prices on dance programs for people with low or any income and promotes the company in shopping malls. The instructors can hold demonstration by instructors put on a short performance for the upcoming audience in different dance styles.
The decisions on conducting competitive strategy are to expand the company with more classes and locations like family dance classes, which attract new customers that want to improve their family relationships. There will be more dance classes for new customers added to this company. It is also good to post online and direct mail, which it best way to increase customer on dance programs awareness by paying a small fees. Customers can make a purchase on the classes and related services online and in-person registration and payments on the website. The company developed competitive and professional dance training programs for students that are interested in performing dance competitions and professional events. The staffs can bring instructors and dancers to schools, provide surveys and offer 30% off discounts, free trials and package deals on dance classes.
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