The
key factors for a company's strategy success are those that allow
the company to survive and prosper in a competitive market. To achieve
this objective, the company should fulfill two conditions:
•
provide the consumers with what they need and what they want to
acquire.
•
survive against the competition.
In order
to give the consumers what they want, the Management of a company
should know who their clients are and consider them the base of their
survival. Once a company knows who their clients are, they should
study their needs and their behaviour, e.g. why they decide to choose
one offer from another. From this moment, the company will be able
to outline its strategy and achieve the competitive advantage which
will make them achieve the objective of survival.
In a competitive
market like the one we live in, the company should invent itself in
order to tolerate the pressure that effects the competitors. Therefore,
a company needs to know who its competitors are, the rules of play,
e.g. if the competition is intense or not, if they are competing with
prices or differentiation of products/services,...
