It has been found that the Collins foods as their corporate strategy make use of the cost leadership and differentiation strategy. These strategies are aimed at achieving the competitive advantage over the market rivals. The company has adopted the differentiation strategy as it can result in severe business benefits for the organization. It is designed to establish huge brand value which is different and unique from its marker competitors (Lechner and Gudmundsson 2014). There is an exceptional brand value which is assist the company in making itself as an exclusive offering firm by the specifications, efficiencies, exceptional design and optimum customer service. However, digital expertise is required for this strategy a successful one. It is to be noted that the digital expertise is also an area of competition in the market. The primary strategy of the company is to grab the attention of the niche by the application of the cost leadership strategy in their daily operations (Zehir, Can and Karaboga 2015). They have put hike on various food items in order to establish an aura of grandeur and exclusiveness in their offerings.
There are other corporate strategies used by the company. The company aims at going beyond the boundaries by their corporate strategies which will set the apart from the rivalry prevalent in the market. In terms of breaking the domestic boundaries, the company should adopt the Multi –Domestic Strategy (Spann, Fischer and Tellis 2014). It is a type of strategy which can be referred to as a system where the operating and strategic decisions are completely decentralized. This particular strategy will allow the firm to expand in the international market. Moreover, this strategy will also expand the market share the company has in the foreign industry through designing the product according to the prevalent market conditions. In order to make the strategy a successful one, the company needs to tailor the products as per the local responsiveness. After receiving the consent of the respondents, the company can work in different countries in different manner.
The differentiation and the cost leadership strategy can also be imposed in the suggested multi –domestic strategy. The firm can engage the various departments in researching the markets of other countries. In other variety of countries, the primary scope for the company is to make the best use of the differentiation strategy and their exceptional offerings. It has to be taken into considerations that there will be different demand patterns in different countries. Hence, the company should carry out their research which will help the company to gain in-depth understanding of the domestic scenarios and their specific demands (Lin 2014). Taken for example, when the company decides to work with a country that has lower levels of income, the company should change their cost leadership strategy and operate suitably in that particular country. It is suggested that the company should use strategies for penetrating the market with lower price for lower income countries.
The company through these strategies can easily secure the level of competition globally and gain the domestic market share. The revenues can also be increased and make space for it to be leagued with the global FMCG firms.
Lechner, C. and Gudmundsson, S.V., 2014. Entrepreneurial orientation, firm strategy and small firm performance. International Small Business Journal, 32(1), pp.36-60.
Lin, L.H., 2014. Subsidiary performance: The contingency of multinational corporation’s international strategy. European Management Journal, 32(6), pp.928-937.
Spann, M., Fischer, M. and Tellis, G.J., 2014. Skimming or penetration? Strategic dynamic pricing for new products. Marketing Science, 34(2), pp.235-249.
Zehir, C., Can, E. and Karaboga, T., 2015. Linking entrepreneurial orientation to firm performance: the role of differentiation strategy and innovation performance. Procedia-Social and Behavioral Sciences, 210, pp.358-367.
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