Essay About Competitive Strategy Of The Wayvemi Store And Competitive Strategy

Competitive Strategy of the Wayvemi Store
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Competitive ReviewBefore we move in depth about the competitive strategy of the Wayvemi store, a little bit details about the competitive strategy. Competitive strategies are the method by which you achieve a competitive advantage in the market. There are typically three types of competitive strategies that can be implemented. They are cost leadership, differentiation and a focus strategy. A mixture of two or more of these strategies is also possible depending on your business objectives and current market position. The Wayvemi store is selling the type of products such as bag, t-shirt, cap, sticker and the printing t-shirt service in 1Borneo Hyper-mall. There are bunch of store in 1Borneo offer almost the same product as Wayvemi store. This is we call the direct competitor for the Wayvemi store. The direct competitor of the Wayvemi store of 1borneo are Factory Outlet Store(FOS), Padini, HI-Style and more. These direct competitors are much bigger, and stable than the Wayvemi store which is new in the competition. These store offer much option in bag, t-shirt, cap than the Wayvemi store. However, these store not offering printing t-shirt service like the Wayvemi store do. The store like Padini, Factory Outlet Store are well-known company in offering the products such as t-shirt, cap, bag in more option for the customer. They are also expert in advertise their products in media, and internet. The Wayvemi store which is new and needs to analyze this key term positioning in order to maximize their sales in 1Borneo.The good advertising strategy needs to be done to overcome the weaknesses of the Wayvemi store. The use of media strategies is good to make this store recognize by customers around Kota Kinabalu such as Facebook, Instagram, Twitter and etc. This is good for the Wayvemi store to compete with direct competitors in competitive market. The market growth of the Wayvemi store will be more increase if the right advertising strategy has been done.