Posted by Sabrina Warren on May-02-2023
This case study presents a detailed strategic analysis of Chris Thompson s Career Dilemma What Should I Do. The case analysis covers key managerial and strategic issues that Chris Thompson s Career Dilemma What Should I Do is currently facing due to challenging internal and external environments. The case solution first conducts the strategic analysis by applying the relevant strategic management tools and frameworks, and then presents strategic recommendations based on overall analysis (Hamilton and Webster, 2018).
The case offers a holistic view of Chris Thompson s Career Dilemma What Should I Do business environment. Case findings are relevant for all key stakeholders of Chris Thompson s Career Dilemma What Should I Do. Reader should first read the case on Chris Thompson s Career Dilemma What Should I Do, and then read the analysis.
The external business environment comprises political, economic, social, technological, legal and environmental factors that influence the strategic positioning of Chris Thompson s Career Dilemma What Should I Do (Khalid and Rahman, 2019).
Here are key external environment characteristics:
External environmental forces are dynamic and uncontrollable
External environment can directly influence the Chris Thompson s Career Dilemma What Should I Do strategic positioning
External environment requires continuous monitoring to timely identify the potential threats and opportunities (Shtal et al. 2018).
The Chris Thompson s Career Dilemma What Should I Do must carefully examine the potential impact of global political unrest on its business operations
The Chris Thompson s Career Dilemma What Should I Do should actively monitor, and respond to the changes to legislation
The Chris Thompson s Career Dilemma What Should I Do should analyze how taxation policies can influence its profitability in different countries where the company is currently present (Khalid and Rahman, 2019).
Rising GDP and growing consumer spending can help Chris Thompson s Career Dilemma What Should I Do in business expansion
Increasing interest rates can increase the debt cost for Chris Thompson s Career Dilemma What Should I Do.
Reducing inflation can decrease the production cost of Chris Thompson s Career Dilemma What Should I Do and increase profitability by driving up the sales revenue (Begley et al. 2005).
The aging population can affect the Chris Thompson s Career Dilemma What Should I Do brand positioning, as Chris Thompson s Career Dilemma What Should I Do currently targets young people.
Growing preferences for luxury items, and improving lifestyles can create more demand for Chris Thompson s Career Dilemma What Should I Do premium-priced products (Perera, 2017).
Government is granting more technology incentives to fuel the innovation. It can help Chris Thompson s Career Dilemma What Should I Do achieve its innovation objectives.
Emerging automation trends require Chris Thompson s Career Dilemma What Should I Do to revisit its business model, and enhance process efficiency.
Improving technological infrastructure can enable Chris Thompson s Career Dilemma What Should I Do to resolve its supply chain inefficiencies (Shtal et al. 2018).
The stringent environmental regulations require Chris Thompson s Career Dilemma What Should I Do to ensure strict compliance with environmental standards.
Consumers’ growing environmental consciousness provides an opportunity to Chris Thompson s Career Dilemma What Should I Do to launch more green, environment-friendly products.
Chris Thompson s Career Dilemma What Should I Do should incorporate environmental thinking in its strategic decision-making process to position itself as a socially responsible organization (Moser, 2015).
The Chris Thompson s Career Dilemma What Should I Do should take strict measures to avoid discrimination at the workplace.
The Chris Thompson s Career Dilemma What Should I Do must abide by the consumer data privacy laws to avoid reputation-damaging lawsuits
The Chris Thompson s Career Dilemma What Should I Do must also ensure strict implementation of workplace safety standards to comply with the health and safety regulations (Khalid and Rahman, 2019).
The growing number of suppliers is weakening their bargaining power against Chris Thompson s Career Dilemma What Should I Do (Dobbs, 2014).
Chris Thompson s Career Dilemma What Should I Do has a wide supplier network, which strengthens its negotiation ability.
Low product differentiation further reduces the supplier bargaining power, as Chris Thompson s Career Dilemma What Should I Do can easily switch to suppliers that offer better terms and conditions (Dobbs, 2014).
Overall, the bargaining power of suppliers for Chris Thompson s Career Dilemma What Should I Do is low.
There are a small number of buyers that buy in large quantities. It enhances their bargaining power against Chris Thompson s Career Dilemma What Should I Do (Cho et al. 2019).
Buyers are price insensitive, and cannot easily switch to other companies due to economic and psychological switching costs. It reduces their bargaining power against Chris Thompson s Career Dilemma What Should I Do.
High product differentiation further discourages the buyers from switching to competitors (Dobbs, 2014).
Overall, the bargaining power of buyers is moderate-to-low for Chris Thompson s Career Dilemma What Should I Do.
High entry barriers make it difficult for new entrants to enter in the market
The high initial capital expenditure also erects an entry barrier for new firms
Chris Thompson s Career Dilemma What Should I Do has a loyal customer base, which further reduces the risk of customers switching to new entrants (Grundy, 2006).
Overall, threat of new entrants for Chris Thompson s Career Dilemma What Should I Do is low.
The emerging innovative technologies are increasing the threat of substitutes for Chris Thompson s Career Dilemma What Should I Do
Growing threat of substitutes is compelling Chris Thompson s Career Dilemma What Should I Do to continuously improve product quality (Bruijl and Gerard, 2018).
Changing consumer demographics and their growing tech-savvy nature is further increasing the substitute threat for Chris Thompson s Career Dilemma What Should I Do
However, the brand loyalty increases the psychological switching costs, which somehow reduces the substitute threat (Dobbs, 2014).
Overall, the substitute threat for Chris Thompson s Career Dilemma What Should I Do is moderate to high.
The competition among existing market players is intense
The market is mature, and is approaching saturation point, which further intensifies the industry rivalry
However, high-quality differences and brand loyalty deters the customers from switching to competitors (Dobbs, 2014).
Overall, the industry rivalry is moderate to high, which makes the business environment challenging for Chris Thompson s Career Dilemma What Should I Do.
Up till now, the case study presented a holistic environmental and industry-level analysis. This section now presents the Chris Thompson s Career Dilemma What Should I Do level analysis by applying relevant tools and frameworks.
SWOT is a strategic management framework that helps Chris Thompson s Career Dilemma What Should I Do in understanding its core strengths and weaknesses. Framework also identifies opportunities and threats that reside in Chris Thompson s Career Dilemma What Should I Do’s external business environment (Helms and Nixon, 2010).
The Chris Thompson s Career Dilemma What Should I Do holds a market leadership position, and has highest market share.
The Chris Thompson s Career Dilemma What Should I Do has high customer loyalty, which makes it difficult for competitors to attract its customers.
The Chris Thompson s Career Dilemma What Should I Do has strong financial health, which allows the company to spend heavily on R&D, and fuel the innovation (Sarsby, 2016).
The Chris Thompson s Career Dilemma What Should I Do has successfully positioned itself as a responsible corporate citizen.
The Chris Thompson s Career Dilemma What Should I Do has a wide supplier and distribution network, which helps in the business expansion (Valentin, 2001).
The Chris Thompson s Career Dilemma What Should I Do currently has a high employee turnover rate.
The Chris Thompson s Career Dilemma What Should I Do is facing supply chain inefficiencies, which are lowering the organizational productivity (Madsen, 2016).
The Chris Thompson s Career Dilemma What Should I Do is unable to quickly resolve the customer complaints, which causes customer dissatisfaction (Helms and Nixon, 2010).
The hierarchal structure of Chris Thompson s Career Dilemma What Should I Do causes resistance to change.
Chris Thompson s Career Dilemma What Should I Do can invest on emerging automation and artificial intelligence technologies to improve the process efficiency
Chris Thompson s Career Dilemma What Should I Do can accelerate the green product development, and invest on green marketing efforts to capture the attention of environment-conscious customers (Solaiman et al. 2015).
Chris Thompson s Career Dilemma What Should I Do can invest on an online influence marketing strategy to expand the reach to a young population
Chris Thompson s Career Dilemma What Should I Do can find strategic partners around the globe to achieve its expansion objectives (Sarsby, 2016).
The growing industry competition among existing players and thinning profit margins has become a major threat for Chris Thompson s Career Dilemma What Should I Do
Global political unrest can negatively affect the Chris Thompson s Career Dilemma What Should I Do performance at the international stage
The expanding grey market and the influx of replica goods can negatively affect the Chris Thompson s Career Dilemma What Should I Do revenue (Davidson et al. 2019).
Aging population can threaten the Chris Thompson s Career Dilemma What Should I Do survival that, primarily focuses on young customers
After presenting the SWOT analysis, the next framework analyzing the Chris Thompson s Career Dilemma What Should I Do’s marketing mix strategies.
Chris Thompson s Career Dilemma What Should I Do offers a wide product variety that meets the needs of diverse customers
Chris Thompson s Career Dilemma What Should I Do has consistently maintained high product quality to justify premium prices
Chris Thompson s Career Dilemma What Should I Do invests heavily on the quality improvement and management to meet the customers’ product quality expectations (Singh, 2012).
Chris Thompson s Career Dilemma What Should I Do invests on innovative marketing and communication strategies to set a clear product positioning, and communicate how its products are different from competitors.
Chris Thompson s Career Dilemma What Should I Do offers warranties and after-sale services that enhances the overall customer experience (Ferrell et al. 2021).
Chris Thompson s Career Dilemma What Should I Do adopts a premium pricing strategy, which is aligned with the company’s premium brand image.
Chris Thompson s Career Dilemma What Should I Do avoids offering price discounts to maintain brand exclusivity (Baines et al. 2017).
Chris Thompson s Career Dilemma What Should I Do does not charge any hidden prices, and has integrated transparency in its pricing model
Chris Thompson s Career Dilemma What Should I Do also offers value-added elements, and adopts a bundle pricing strategy to boost the sales (Giri et al. 2020).
Chris Thompson s Career Dilemma What Should I Do offers credit payment options for the customer convenience.
Key factors that Chris Thompson s Career Dilemma What Should I Do considers while setting the prices include- brand image, customers’ expectations and purchase capacity, and on-going competition.
Chris Thompson s Career Dilemma What Should I Do adopts a selective distribution strategy to reach the target market
The Chris Thompson s Career Dilemma What Should I Do chooses distributors who are located in urban areas, and can preserve the premium brand image
Currently, Chris Thompson s Career Dilemma What Should I Do has a distribution network that is spread in more than 50 countries
Chris Thompson s Career Dilemma What Should I Do has adopted Omni-channel strategy, and sells its products through multiple online and offline channels, including- official outlets, authorized distributors, the company website and mobile application (Palmatier et al. 2016).
Well-integrated Omni-channel strategy offers a seamless experience to the Chris Thompson s Career Dilemma What Should I Do customers.
Chris Thompson s Career Dilemma What Should I Do avoids offering promotional discounts to preserve the brand exclusivity.
Chris Thompson s Career Dilemma What Should I Do invests heavily on the celebrity endorsement strategies to promote the brand among the target market.
Chris Thompson s Career Dilemma What Should I Do also have a strong social media presence, and specifically focuses on the online influencer marketing strategy to create brand awareness (Varadarajan et al. 2010).
Chris Thompson s Career Dilemma What Should I Do uses both- online and offline marketing and communication channels to promote the brand.
Chris Thompson s Career Dilemma What Should I Do’s promotional strategy is well-aligned with other marketing mix components to develop a clear brand positioning (Palmatier et al. 2016).
The Chris Thompson s Career Dilemma What Should I Do has a wide distribution network that is spread across the globe.
The Chris Thompson s Career Dilemma What Should I Do has extensive research and development capabilities that fuel the innovation process.
The Chris Thompson s Career Dilemma What Should I Do offers a seamless customer experience through a well-integrated marketing mix.
The Chris Thompson s Career Dilemma What Should I Do has strong financial health, and free cash flow that it can invest on innovative projects.
The Chris Thompson s Career Dilemma What Should I Do has a strong presence over social media that drives the customer engagement, and increases the company’s reach to the target market.
The Chris Thompson s Career Dilemma What Should I Do has successfully attracted and retained highly skilled staff that drives the overall organizational productivity, and helps the company in achieving its innovation objectives (Cardeal and Antonio, 2012).
Chris Thompson s Career Dilemma What Should I Do has built strong relationships with suppliers that enable the company to achieve production objectives even when there is a material shortage in the market
Chris Thompson s Career Dilemma What Should I Do has access to the rare and hard-to-reach raw material that is used to produce top-quality products (Cardeal and Antonio, 2012).
Chris Thompson s Career Dilemma What Should I Do has successfully developed a strong brand reputation that keeps customers hooked with the brand
Chris Thompson s Career Dilemma What Should I Do shares a strong emotional connection with its customers, which increases the psychological switching costs for them (Hernández and Garcia, 2018).
Chris Thompson s Career Dilemma What Should I Do has developed its image as an environment-friendly, sustainable, and responsible brand that takes care of all stakeholders.
Chris Thompson s Career Dilemma What Should I Do has developed an in-depth knowledge of customers’ intrinsic motivational needs, and has developed its brand image in a way that shares close relatedness with customers’ desired self-image (Liu et al. 2012).
Chris Thompson s Career Dilemma What Should I Do has secured exclusive agreements with the suppliers to get access to unique raw materials. The exclusive agreement makes this resource inimitable for Chris Thompson s Career Dilemma What Should I Do
Chris Thompson s Career Dilemma What Should I Do has strong transformational and charismatic top leadership that has always successfully led the organization through a crisis (Nusari et al. 2018).
Chris Thompson s Career Dilemma What Should I Do has developed a robust organizational culture that promotes cohesion, and strengthens the employees’ affective commitment with the organization.
Chris Thompson s Career Dilemma What Should I Do has secured the access to human capital (skills and expertise) that is needed to exploit the above-mentioned resources.
Chris Thompson s Career Dilemma What Should I Do has a well-developed technical infrastructure that supports the business operations, and fuels the innovation process.
Chris Thompson s Career Dilemma What Should I Do has built extensive expertise, and gained years of experience that helps the company in leveraging its core strengths to exploit the available opportunities.
Chris Thompson s Career Dilemma What Should I Do has built strategic partnerships that help the company in pooling the resources together to gain a strong competitive edge over rivals (Cardeal and Antonio, 2012).
The core products of the Chris Thompson s Career Dilemma What Should I Do fall in the star category. Chris Thompson s Career Dilemma What Should I Do has secured market leadership in these categories
Chris Thompson s Career Dilemma What Should I Do’s market share in these product categories is growing due to high market growth potential
Chris Thompson s Career Dilemma What Should I Do should pay specific attention to these product categories, and should try to preserve the market share
The intensifying competition imposes a threat to the Chris Thompson s Career Dilemma What Should I Do’s market leadership in the ‘Star’ category
Overall, Chris Thompson s Career Dilemma What Should I Do should increase investment on the star category to maintain leadership in the growing market (Mohajan, 2017).
Chris Thompson s Career Dilemma What Should I Do has several product categories in which the firm has attained the market leadership position.
However, the market growth in these product categories has become slowed with time, as the market has become mature.
Chris Thompson s Career Dilemma What Should I Do should ‘milk’ these product categories as they are an important source of cash flow.
However, Chris Thompson s Career Dilemma What Should I Do should avoid increasing investment due to slowed market growth, and should bring innovation to keep adding new features.
Overall, Chris Thompson s Career Dilemma What Should I Do should aim to maintain the current market position, but avoid increasing the investment due to slow market growth (Kader and Hossain, 2020).
Chris Thompson s Career Dilemma What Should I Do has some product categories that are in a growing market segment. Despite high market growth, Chris Thompson s Career Dilemma What Should I Do is unable to increase the market share in these segments.
The products under this category have the potential to become stars, as they operate in a high-growth market.
But, extensive investment is needed to understand the reasons behind the low market share, and it can affect the cash flow of Chris Thompson s Career Dilemma What Should I Do.
Therefore, Chris Thompson s Career Dilemma What Should I Do needs to evaluate if it is feasible to increase the investment to drive the market share, or it is wise to divest from this market segment (Mohajan, 2017).
Chris Thompson s Career Dilemma What Should I Do has one product that operates in a market with low growth potential
Chris Thompson s Career Dilemma What Should I Do has only a marginal share in this market.
As growth in this market is stagnant, and market share is also marginal, Chris Thompson s Career Dilemma What Should I Do may consider divesting from this market segment.
It will be unwise to invest in this segment, as this product has turned into ‘dog’, which means the product is aged and waning.
Here, two options are available to Chris Thompson s Career Dilemma What Should I Do:
o First, Chris Thompson s Career Dilemma What Should I Do may entirely refresh the dying product.
o Alternatively, Chris Thompson s Career Dilemma What Should I Do may divest this product from the portfolio.
Considering the current business environment, and competitive dynamics, Chris Thompson s Career Dilemma What Should I Do is recommended to get rid of this product by taking divestment decisions (Torquati et al. 2018).
Chris Thompson s Career Dilemma What Should I Do aims to expand its business operations to strengthen the competitive positioning in the market. Ansoff matrix here can help Chris Thompson s Career Dilemma What Should I Do in taking the right business expansion decision.
Four business expansion strategies available to Chris Thompson s Career Dilemma What Should I Do are- market penetration, market expansion, product development, and diversification (Loredana, 2016).
Choosing the right expansion strategy is important for Chris Thompson s Career Dilemma What Should I Do to achieve its expansion objectives.
Chris Thompson s Career Dilemma What Should I Do can penetrate into existing markets by expanding the market reach. This strategy is recommended when the market has high growth potential.
Chris Thompson s Career Dilemma What Should I Do can expand the market reach by increasing the customer loyalty, and encouraging them to increase the spending.
Chris Thompson s Career Dilemma What Should I Do can use the influencer marketing strategy as a tool to create e-WOM. It will create brand awareness, spread the brand message, and enable Chris Thompson s Career Dilemma What Should I Do to penetrate deeper into the market.
Some other ways through which Chris Thompson s Career Dilemma What Should I Do can penetrate into the market is- to increase the marketing and promotional budget, making price adjustments, and improving the product quality to gain a larger share from the existing market (Shaw, 2012).
Chris Thompson s Career Dilemma What Should I Do can find new geographic markets to launch its existing products
Another way to pursue this expansion strategy is through celebrity endorsements. Celebrities can help Chris Thompson s Career Dilemma What Should I Do in finding new customers for existing products
Chris Thompson s Career Dilemma What Should I Do can also consider adding new product dimensions, or revising the packaging to reach new consumer markets.
Another way to pursue this expansion strategy is by exploring new distribution channels. Chris Thompson s Career Dilemma What Should I Do can strengthen its presence on e-commerce, and open multiple online sales channels to reach new customer markets (Hussain et al. 2013).
Chris Thompson s Career Dilemma What Should I Do can also charge two different prices to expand the reach from high-end to middle-class customers.
Chris Thompson s Career Dilemma What Should I Do can expand its business operations by pursuing a product development strategy.
Instead of adopting a reactive attitude by coping with the competitors, Chris Thompson s Career Dilemma What Should I Do must proactively behave while launching new products. Some possible proactive product development strategies are discussed below.
To pursue a proactive product development strategy, Chris Thompson s Career Dilemma What Should I Do may increase investment on research and development activities to bring the product innovation.
Chris Thompson s Career Dilemma What Should I Do may also invest on the market research to identify and respond to the unmet customer needs (Katsikeas et al. 2016).
Chris Thompson s Career Dilemma What Should I Do may consider strategic alliance and partnership options to launch new products. It will enable the company to pool the resources and capabilities together, and share risks while launching new products.
Acquisition of smaller firms can also enable Chris Thompson s Career Dilemma What Should I Do to successfully launch new products in the comparatively shorter time span.
Chris Thompson s Career Dilemma What Should I Do can adopt the diversification strategy to reach new markets through new products.
Chris Thompson s Career Dilemma What Should I Do can pursue either a related or unrelated diversification strategy.
The related diversification strategy requires Chris Thompson s Career Dilemma What Should I Do to enter in similar markets. But, unrelated diversification requires Chris Thompson s Career Dilemma What Should I Do to find entirely new markets (Dhir and Dhir, 2015).
Unrelated diversification is riskier, and can affect the brand image. So, Chris Thompson s Career Dilemma What Should I Do should pursue a related diversification strategy.
By pursuing related diversification, Chris Thompson s Career Dilemma What Should I Do can horizontally and vertically add new product lines
Through successful diversification, Chris Thompson s Career Dilemma What Should I Do can increase its profitability, and generate more revenue from the new products and new market segments (Loredana, 2016).
The in-depth strategic analysis of Chris Thompson s Career Dilemma What Should I Do reveals some interesting insights. Chris Thompson s Career Dilemma What Should I Do currently holds strong competitive positioning. However, the challenging business environment and intensifying competition require Chris Thompson s Career Dilemma What Should I Do to adopt a proactive behavior. Chris Thompson s Career Dilemma What Should I Do needs to continuously assess its external and internal business environment to timely identify the potential threats and opportunities. Here, the application of relevant strategic management tools and frameworks can help Chris Thompson s Career Dilemma What Should I Do in making wise business decisions. The key to success in a such challenging and complex business environment is- to proactively respond to the external environment by leveraging core strengths, and overcoming the weaknesses.
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