View Channel 4 Case Analysis.docx from MAN 3025 at University of Florida. Channel 4 Case Analysis Group 108 University of Florida MAN3025 Principles of …
How Channel 4’s unique positioning and ... to risk-taking to reflect the competitive dynamics of the UK’s TV ... companies that got their first break with Channel 4 have gone on
3) Channel Strategy and Designing Marketing Channels Channel positioning is what the company does with its channel planning and decisions in order to obtain the channel position. In order for companies to obtain the channel position, they must view the relationship with channel members as a partnership or strategic alliance that offers benefits ...
The first thing to do to improve your competitive positioning is to view your business from four different axes—supply chain, R&D and innovation, manufacturing, and marketing and sales. A number of differentiation strategies are possible for each axis. rethink your manufacturing model.
Because Channel 4 is willing to support risk-taking, back big, ambitious ideas and encourage innovation, producers can create iconic programming that showcases their creativity and acts as a calling card for future commissions . As one producer put it: “A Channel 4 commission is worth a lot.
Channel 4 is an effective vehicle for achieving both in the creative industries.
Over the last 30 years, Channel 4 has had to adapt its approach to risk-taking to reflect the competitive dynamics of the UK’s TV industry, the tastes and demands of audiences and advertisers, and the economic realities of the global film and TV industries.
The first thing to do to improve your competitive positioning is to view your business from four different axes—supply chain, R&D and innovation, manufacturing, and marketing and sales. A number of differentiation strategies are possible for each axis.
As a result, savvy supply chain management has become a key factor in improving productivity and overall competitiveness.
Here are a few practical suggestions for entrepreneurs: 1 Find out how others in your industry are innovating; 2 upgrade customer relationship systems; 3 invest in employee training and product development; 4 reduce delivery lead-time by improving your processes; 5 invest in a marketing plan; and 6 rethink your manufacturing model.
Your competitive positioning strategy is the foundation of your entire business – it’s the first thing you should pin down if you’re launching a new company or product. It’s also important when you’re expanding or looking for a new edge.
Understand the problems that your market faces. Talk with prospects and customers, or conduct market research if you have the time, budget and opportunity . Uncover their true wants and needs – you’ll learn a great deal about what you can deliver to solve their problems and beat your competitors.
At the highest level, there are three core types of value that a company can deliver: operational efficiency (the lowest price), product leadership (the best product), or customer intimacy (the best solution & service). Determine which one you’re best equipped to deliver; your decision is your method for delivering value.
Once you have a competitive positioning strategy, develop a brand strategy to help you communicate your positioning and solidify your value every time you touch your market. Together, these two strategies are the essential building blocks for your business.
The concept of positioning is entirely strategic. It’s the first element to address in strategic marketing, and everything else is aligned to it. Jack Trout and Al Ries defined the concept years ago in their landmark book Positioning: The Battle for Your Mind.
Clearly define your market and determine its type. There are three options:
Explore your competitors’ online presence and comb through publicly available information. Read reviews, get a sense of their social reputation and talk to their customers. You want to understand their positioning and competitive advantage. Ask yourself, what do they do well? What are they missing?
Once you’ve researched your competitors, you can define your unique points of competitive advantage. Create market maps to visualize your position as it compares to that of your competitors.
Track trends within your chosen market to determine if you are flowing with or fighting against the current. Reflect this in your positioning by showcasing either your quality or price advantage.
To develop your competitive positioning chart, you must first identify the top two paints points of your customer. These pain points, along with their sense of urgency, are the customer’s motivation for quickly finding a new solution.
Your competitive positioning must align with the customer’s pain points so they perceive value in your solution to resolve their pain. Their pain can usually be measured in units of better, faster, cheaper, or easier.
Next it will be critical to identity at least one “product competitor” to show the customer that innovation is inevitable and their current solution using the current market leader is going to become obsolete. So they will need a new and innovative solution, and you are the obvious alternative. You are showing your value, by comparing yourself to another product competitor that is using a similar disruptive technology. But you have a better solution. Their very existence gives credibility to the notion that now is the time to embrace this new discontinuity. Competition has emerged but we are the market leader with a better whole product solution.
Competitive positioning is about helping the customer understand where you fit in comparison to the competition. Competitive positioning helps the customer quickly analyze and differentiate why yours is a better solution.
Positioning is the single largest influence on the buying decision. It’s a buyer’s shorthand to evaluate alternatives. Positioning exists in people’s heads, not in your words.
Differentiation and value in the eyes of the customer is about competitive positioning, not competitive advantage or just identifying who the competition is. Competitive advantage is about sharing why your product or service is better than your competitors.
This becomes possible when the company emphasizes the four generic building blocks of competitive advantage, such as; efficiency, quality, innovation, and. customer responsiveness.
Sustaining competitive advantage requires a congenial environment in the organization that promotes learning within the organization (commonly known as organization learning). Learning organizations can keep themselves at the top of all competitors because they are always in search of knowledge.
Because of their susceptibility to common use by all business enterprises, they are labeled as generic strategies.
The competitive strategy consists of the business approaches and initiatives undertaken by a company to attract customers and to deliver superior value to them through fulfilling their expectations as well as to strengthen its market position.
The adoption of ‘industrial best practices’ helps in developing distinctive competencies and thereby sustaining competitive advantage. Organizations can benchmark (search out) the successful business-practices of other competitors/companies in other industries and then adopt them after necessary fine-tuning.
Continuous improvement of the quality of both products and services (in fact, of everything that a company does) in sine qua non for sustaining competitive advantage over a longer period. Managers need to devise dynamic ways to improve quality continuously.
The resources comprise physical, human, financial, informational, and technological resources.
A unique distribution channel can be a great way to differentiate your company and build a competitive advantage, often in industries where the product or service itself may be at risk of being undifferentiated (like some financial services products).
Sustainable competitive advantage — a goal which will be always sought and ever elusive in business. It is difficult to define. Yet, we often know it when we see it. Less traveled distribution channels can become a large competitive advantage. People attempt to draw-up lists in an effort to understand and remember the types of competitive advantage.
Tesla. Tesla decided to not work through car dealerships and to sell directly. I love that it is different, because that is the first step to being better. Time will tell if the dealership network is a necessary component to car sales or not.
GEICO. A direct sales model to government employees (initially and now to everyone), cutting out the expensive insurance agent, has been and still is the competitive advantage of GEICO.