1-Analyse the appropriateness of alternative strategies relating to market entry
ID: 385294 • Letter: 1
Question
1-Analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for an organisation. Plan at least two alternative strategies, based on the strategic options available with Ansoff’s matrix, which are in line with Starbucks mission and objectives. You then need to apply techniques of strategy evaluation and selection to select an appropriate future strategy for the chosen organisation. Justify your choice. There are 3 different methods used to select an appropriate strategy. You can either test for suitability, feasibility and acceptability (recommend using this one) or use the ranking and scoring method. To secure a pass you need to appropriately apply at least one of them.
3.2 – Justify the selection of a strategy by stating which of your strategic growth options is the best for the business and will give the greatest return.
Explanation / Answer
Decision making for choosing alternative strategies:
MARKETS
PRODUCTS
Market Production
Product Development
Market Development
Diversification
Suitability, acceptability, and, feasibility
Suitability
Ranking and scorecards for selection
Acceptability
Feasibility
Opt for the strategy that fits all the three criteria
MARKETS
PRODUCTS
Market Production
- Mild, smooth, bold coffee
- Cappuccino
- Espresso
- Gourmet Cofee
Product Development
- Starbucks Card
- Starbucks VIA Readybrew
Market Development
- Frappuccino blended coffee
- Traditional coffee’s mixes
- Frappuccino light blended coffee
- Presence in more than 1000 cities
Diversification
- Mugs
- Coffee Machines
- Tumblers
- Grocery Stores
- Bottled Coffee
- Icecream
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