Special Competition Award Del Laboratories Economic Education Integration College Age and Adults Case Solution

The Harvard Business Review published a case study that primarily focuses on Special Competition Award Del Laboratories Economic Education Integration College Age and Adults. The following case solution has been designed to give the reader an overview about the business world along with a clear understanding of its growth dynamics. Recently, Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has been subjected to strategic as well as managerial problems that require immediate attention so that they can be resolved to allow future growth, expansion, and competitive edge within the marketplace. This case study solution is being written to provide a strategic solution to Special Competition Award Del Laboratories Economic Education Integration College Age and Adults using various appropriate tools and frameworks. Harvard Business Review’s case studies involve a central problem that is faced by a particular company. The problem identified involves strategic and managerial implications for the company. Therefore, it is important for readers to critically identify the problem Special Competition Award Del Laboratories Economic Education Integration College Age and Adults faces. Moreover, it is also essential to highlight the key stakeholders that are impacted and influenced by the problem identified.

External Environmental Analysis

The external environment holds significant importance for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to ensure that the company is able to respond to all the changes in the macro-environment. This is because Special Competition Award Del Laboratories Economic Education Integration College Age and Adults cannot control the factors and thus can directly influence the company's operations (Indris & Primiana, 2015). The external environment of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults will be assessed using PESTLE Analysis.

Political

• A stable political environment provides a favorable market growth trend for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults.

• It is important for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to analyze the pressure groups, and social environment activists. The company can make close collaborations with these groups to achieve company goals (Wang, Wang, & Shi, 2022).

• High restrictions on trade and high levels of taxes can contribute to the complex business environment for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults by impacting imports and exports.

Economic

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can benefit from wide-range opportunities in business growth by operating in developing economies (Munro, 2017).

• High GDP can determine the long-term growth strategies of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults, signaling the ability of consumers to spend on more products.

• Higher rates of interests can provide Special Competition Award Del Laboratories Economic Education Integration College Age and Adults with more investment opportunities.

• The flexibility in the labor market allows Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to take advantage of higher workforce productivity.

Social

• The selection of appropriate demographic segments has allowed Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to select the right segments of the market that have high growth potential.

• The research on gender roles has helped Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to develop and align communication as well as marketing strategies accordingly.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has been successful in understanding the norms and cultures of different countries by developing local teams and partnerships (Hueske, Endrikat, & Guenther, 2015).

Technological

• The adoption of innovative marketing techniques that involves communication technologies has allowed Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to collaborate successfully with consumers.

• The company has stayed ahead in the market, and can significantly increase its market share by placing its major focus on emerging technologies (Akpoviroro & Owotutu, 2018).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should maximize its profits by investing in disruptive technologies.

Environmental

• It is crucial for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to adopt effective waste management practices to reduce environmental pollution (J. K, W. J, & D., 2016).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should adopt eco-friendly products to establish better relationships with the stakeholders.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can take advantage of subsidies offered in renewable technologies to achieve the long-term goal of sustainability.

Legal

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should follow proper laws concerning employee health and safety, and anti-discrimination laws to effectively develop HRM.

• Consumer protection laws are also important for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults as it involves the consumer protection from fraudulent marketing (S. Samusenko, S. Plaskova, & A. Prodanova, 2020).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can gain a competitive advantage, and can position itself strongly in the market by protecting intellectual property laws.

Porter’s Five Forces Analysis

Threat of New Entrants

• It is difficult to achieve economies of scale in Special Competition Award Del Laboratories Economic Education Integration College Age and Adults’s industry, making it a weaker force for new entrants.

• There are high capital requirements in the industry. This makes it difficult for new businesses to set up their companies, and compete against Special Competition Award Del Laboratories Economic Education Integration College Age and Adults.

• The industry has a strong product differentiation, and heavy investment is needed for customer acquisition. Thus, Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can focus on innovation to differentiate itself from its competitors (H. Th. Bruijl, 2018).

• There are strict legal requirements to join the industry in which Special Competition Award Del Laboratories Economic Education Integration College Age and Adults operates, making it difficult for new entrants to enter the market.

Bargaining Power of Suppliers

• The bargaining power of suppliers in the industry is weak.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults operates in an industry with a higher number of suppliers. This means that suppliers do not have much control over their prices.

• Standardized products that have low switching costs are provided by suppliers allowing buyers like Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to easily switch their suppliers (Fabbri & F.Klapper, 2016).

• Raw materials can be purchased at lower prices by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults. The company can also switch suppliers for more reasonable pricing.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can benefit from a variety of suppliers as it can have multiple suppliers for its various geographical areas (Cho, Ke, & Han, 2019).

Bargaining Power of Buyers

• The bargaining power of buyers in the Special Competition Award Del Laboratories Economic Education Integration College Age and Adults industry is weak.

• There is a high product differentiation in the industry, making it difficult for buyers to switch to alternative firms.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can come with differentiated and innovative products to attract more buyers of the industry (Zhao, Zuo, & Wu, 2016).

• Buyers of this industry has low incomes. This means they prefer to purchase items at lower prices, making them more price sensitive. Organizations like Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can offer lower prices to attract customers.

Threat of Substitute Products or Services

• There are few substitute products available in the industry in which Special Competition Award Del Laboratories Economic Education Integration College Age and Adults operates.

• Expensive substitutes are available in the industry of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults, making it difficult for buyers to switch to those substitutes (Aithal, 2016).

Rivalry Among Existing Firms

• The rivalry among existing firms is moderate to weak.

• There are few competitors in the industry in which Special Competition Award Del Laboratories Economic Education Integration College Age and Adults operates.

• A large market share is enjoyed by fewer firms in the industry. This means that more competitive actions will be made to become leaders in the market (Seema, 2016).

• The industry in which Special Competition Award Del Laboratories Economic Education Integration College Age and Adults operates has highly differentiated products, making it difficult for companies to win each other customers.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can focus on making more differentiated products to gain a strong competitive edge in the market (Zhao, Zuo, & Wu, 2016).

Internal Environmental Analysis

Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can use internal environmental analysis to identify and evaluate the competitive positioning of a company in the business environment. This involves conducting a SWOT Analysis that can help Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to identify the company’s internal strengths, weaknesses, opportunities, and threats (Halmaghi, Iancue, & Băcilă, 2017).

SWOT Analysis

Strengths

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has a strong distribution network that has allowed it to make its products available to large customers within the given timeframe.

• A strong presence on social media platforms has allowed Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to have a high level of customer engagement (Rizaldi, 2015).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has been successful in building a large product portfolio, so unique and distinctive products can be offered to consumers.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has a strong brand image in the market.

• A low-cost structure of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has allowed it to manufacture products at lower costs, so they become affordable for consumers to purchase.

• The financial position of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults is strong as the company has generated higher profits over the past years (Phadermrod, M.Crowder, & B.Wills, 2019).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has invested in the training and development of its employees to keep them motivates, leading to higher efficiency and productivity.

Weaknesses

• The expenditure of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults on its research and development is comparatively less to other competitors of the market.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults uses a centralized decision-making process that takes time and reduces operational efficiency (Ahmadi, Dileepan, & K. Wheatley, 2016).

• There are high rental costs because Special Competition Award Del Laboratories Economic Education Integration College Age and Adults operates on more of the rental properties rather than purchasing them.

• There is no workforce diversification in Special Competition Award Del Laboratories Economic Education Integration College Age and Adults. This makes it difficult for the employees to adjust with the different workers who belong to different backgrounds.

Opportunities

• Since the online shopping has increased significantly, Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can take it as an opportunity to expand its online presence.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can make use of social media platforms to market its products, with more customers interactions.

• Due to more technological developments, Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can make its operations more automated so that overall company costs can be reduced (Ahmadi, Dileepan, & K. Wheatley, 2016).

• Globalization provides an opportunity to Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to expand its operations in multiple countries.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can enter in a niche market and sell distinctive products to gain a competitive advantage.

• The increase in the demand of environmentally friendly goods, Special Competition Award Del Laboratories Economic Education Integration College Age and Adults, can place its major focus on making such products (E.Quezada, A.Reinao, & I.Palominos, 2019).

Threats

• In recent times, there has been an increase in the bargaining power of suppliers, making it difficult for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to buy raw materials at lower costs.

• Numerous players are entering the industry, posing a major threat to Special Competition Award Del Laboratories Economic Education Integration College Age and Adults.

• There has been constant pressure on Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to conduct frequent research to understand the changing customer tastes and preferences (Kolbina, 2015).

• Technological advancements require workforce training. This adds to the costs of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults.

VRIO Analysis

Special Competition Award Del Laboratories Economic Education Integration College Age and Adults uses VRIO Analysis to assess and evaluate the company resources to determine the competitiveness, and strategic advantage.

Valuable

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has a strong brand image and engages in corporate social responsibility.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has a high brand recognition because of the quality of products it offers to its customers (Ariyani & Daryanto, 2018).

• The distribution system of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults is valued all round the world. The company has been able to successfully establish strong relationships with its suppliers.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults focuses on continuous innovation in its business. The company has expanded this innovation in its multiple functional areas.

• There are potential growth opportunities in the market, and Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has been able to penetrate the market through its ability to raise large funds.

Rare

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults operates globally. This global presence has allowed the company to increase its customer base (Miethlich & G. Oldenburg, 2019).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has an organizational culture that promotes more teamwork, innovation, and creativity among its employees, that leads to a competitive advantage.

• Since Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has a global presence, it allows the company to easily adapt to different cultures, norms and values.

• The risk-taking ability of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults is strong. This provides more opportunities to the company to penetrate different markets.

Inimitable

• The inimitable resource for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults is its high-quality products. These products have allowed consumers to make repeat purchases.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults operates through multiple locations of stores in different companies, allowing easy access to products.

• Strong marketing communications have been used by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to attract more customers.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has been using integrated technology that has allowed it to offer competitive pricing to its customers (Ariwibowo, Saputro, & Haryanto, 2021).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults maintains an excellent customer service that has enabled it to have a high brand engagement.

Organization

• Strong financial position has allowed Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to explore more product development opportunities.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults is successfully maintaining the efficiency and effectiveness of its business operations with the help of more integrated and advanced technology.

• Employees are given both in-house and off-the-job training opportunities by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults that allow more skills development (Adnan, Abdulhamid, & Sohail, 2018).

• The strong value chain and distribution network has enabled Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to increase its revenue through the sale of its products.

Marketing Mix

Marketing Mix is needed by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to formulate effective strategies to achieve the company objectives.

Product

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has five product categories. Each of these categories has a product line that involves more variety of products (Išoraitė, 2016).

• Highly differentiated products are offered by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to its customers. These distinctive products are not easily available at competitors.

• The products of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults are of higher quality, and thus, customers pay more prices for these products.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults designs products with traditional designs giving customers more product variety.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults offers multiple sizes for its every product to make it easy for its customers to select the right product.

• Warranty and same-day delivery option if also provided by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to its customers.

Price

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults follows a competitive pricing strategy.

• To attract more customers, bundle pricing has also been used by the company.

• Little higher prices are charged for products that are sold online because of the delivery costs (Thabit & Raewf, 2018).

• Optional product pricing strategy is also adopted by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults for some of its products, such as a base product is offered for a certain price, and there are separate prices for its accessories.

• Regular promotional prices are also offered by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to its customers.

Place

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults uses two channels for its product distribution. This includes online selling and through own stores.

• There are more than multiple stores owned by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults globally. This ensures easy product availability to customers (Pogorelova, Yakhneeva, & Agafonova, 2016).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has partnered with delivery service companies to distribute its products effectively to consumers.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has also adopted an omni-channel distribution system.

Promotion

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults uses a traditional promotional strategy that involves TV advertisements (Fan, Y.K.Lau, & Zhao, 2015).

• Social media advertisements are also adopted by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to increase brand awareness.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults takes part in various events and exhibitions as a way of promoting its products.

• Large sales force is used to provide the customers with a more personal experience.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults also makes use of influencer marketing to increase the demand for its products.

• Regular content and deals are posted on the social media pages of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to attract and retain customers.

Value Chain Analysis

Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can use Value Chain Analysis to identify and assess inter-relationships as well as interdependencies.

Primary Activities

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults’s primary activities involves the production and selling of products to the final consumers (Mintz, J.Gilbride, & Lenk, 2021).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has a strong relationship with the suppliers. This ensures that the product is received, stored, and distributed in a timely manner.

• Operational activities of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults are effectively aligned.

• For inbound logistics, after the arrival of raw material, the company processes it to manufacture the final product (Hasan, Nekmahmud, & Yajuan, 2019).

• In terms of outbound logistics, Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has been able to set up optimal costs as well as efficient delivery processes to deliver the product on time.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults invests in its sales and marketing activities to build relationships with customers.

• Marketing funnel approach is used by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to effectively devise and build sales and marketing activities.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults offers both pre-sale and post-sales services to its customers.

Secondary Activities

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has an effective infrastructure that has allowed the company to successfully optimize its value chain.

• The competitive pressure in terms of employee skill development, motivation, and commitment is reduced as Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has developed a strong HRM (Linkov, Carluccio, Pritchard, & Bhreasail, 2020).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults uses a cost minimization approach to reduce its costs by analyzing the costs associated with training and hiring the employees.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults has been using integrated technology in its value chain activities. This includes technological customer support, research and data analytics concerning product design, and automated software.

• The procurement activities of Special Competition Award Del Laboratories Economic Education Integration College Age and Adults are effectively optimized with its inbound, outbound, and operational activities (Maheswari, Yudoko, & Adhiutama, 2019).

Market Penetration Strategies

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can increase the capacity of its production so it can reach more of the customers in its existing market.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can focus on controlling the overhead costs so that it can offer competitive pricing that can attract customers of the market (Dawes, 2018).

• Investments can be made by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults in marketing and sales activities to increase the chances of successful market penetration.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can design and develop a content that increases customer engagement within a particular marketplace.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can assess and identify more enhanced distribution networks (Radpour, Mondal, & Kumar, 2017).

• Improved distribution systems and supply chains can improve the product accessibility for the customers, making it easier for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to penetrate the market.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can adopt price cuts in its products to compete in the market. This will give a company a competitive edge over its competitors.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can plan strategies where it can focus on acquiring the leading players of the market. Such acquisitions will give the company an opportunity to reach more customer segments.

• Strategic partnerships and joint ventures agreements can be signed by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to mitigate the risk factors, and to gain customer groups of the market.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can come up with new and innovative features in its already existing product for the market (Daouda, Barth, & T. M. Ingenbleek, 2019).

Market Development Strategies

• It is important for Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to invest in the research and development department so potential markets can be identified (Hilman, Bohari, & Abdullah, 2018).

• Regional expansion strategy can be used by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults for growth purposes. This will also take into consideration the cultural differences.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should also consider to expand its business operations in the international market. This will allow access to a larger customer base.

• New customer groups and segments should be explored by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should also invest in brand-building activities as it will give an opportunity to reach more potential customers (C. Koks & M. Kilika, 2016).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should consider the market education in terms of its product. The company can significantly increase its sales by giving product awareness to new segments.

Product Development Strategies

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can come up with new improvements and modifications in the existing products to attract the market.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should undergo the NPD process, so the company is able to assess and identify new points for its customers.

• Regular investments in the research and development will help Special Competition Award Del Laboratories Economic Education Integration College Age and Adults to develop something new and innovative that can give a competitive advantage (Kalogiannidis & Mavratzas, 2020).

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can develop new products by getting into more strategic partnerships.

Diversification Strategies

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can adopt vertical diversification to develop business. This can be done by adding more products to the existing portfolio (Kalogiannidis & Mavratzas, 2020).

• Horizontal integration can also be adopted by Special Competition Award Del Laboratories Economic Education Integration College Age and Adults, where the company can enter into a completely new product development phase that does not exist in the current product line.

• Special Competition Award Del Laboratories Economic Education Integration College Age and Adults can also consider to conglomerate by starting a different business.

Conclusion

Based on all the models and frameworks discussed above, it is concluded that Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should focus on widening the existing product portfolio. Moreover, the psychological pricing strategy can be adopted. Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should also maintain close relationships with its suppliers to benefit from lower prices. Similarly, Special Competition Award Del Laboratories Economic Education Integration College Age and Adults should develop more integrated outbound logistics for its perishable items. It is also important to continue producing quality and innovative products, so Special Competition Award Del Laboratories Economic Education Integration College Age and Adults is less affected by the new emerging competition in the industry.

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