This report aims to deliver advices and identify the suitable strategies for the affected industries (airline, auto manufacturing, railroads and delivery services industries) upon the new product launched in the market. The strategies that we have come out consist of 3 strategies; marketing mix strategy, joint venture strategy and financial strategy. Marketing mix strategy mainly focuses on market and customers. Joint venture strategy focuses on alliance strategy among the industries. Financial strategy focuses on budget. Therefore, we hope the suggested advices and strategies may helps those affected industries to sustain their competitive advantage and market position against strong competition from the new entrants.
2.0 COMPANIES’ STRATEGIES
2.1 Joint Venture Strategy
A joint venture is a legal partnership between two or more companies where in them both make a new (third) entity for competitive advantage. With a joint venture you will have something more than simple governance; you'll have a completely new entity with a board, officers, and an executive team.
Effectively a joint venture is a completely new organization, but owned by the founding participants. The board of directors generally is constructed with representatives of the founding organizations. This new company will do business with the founding entities-usually as suppliers.
The airline, auto manufacturing, railroads and delivery services companies can join together in a one company. The benefits of this joint venture can help reduce costs, gain strong financial, have more expertise and will have tip top services.
2.2 Marketing Strategy
Today, as competitive pressures increase, marketing is more and more key to being successful in business. It plays a key role in many business success stories.
All this is part of the marketing mix which is 7 P’s. Marketing is so much more than just sales and advertising. Marketing allows the business to identify, anticipate...