Analysis of potential competitors and their global business activities
Nissan corporation’s strategic marketers have managed to sail the company successfully amidst stiff competition. This team bears in mind that competition is in the global market will remain intense. The Nissan corporation’s competitors in the motor industry include Hyundai, Acura, Honda, Peugeot, Toyota, and Ford, among others. The competition between Nissan and these motor companies has become intense, and only the companies like Nissan Corporation that have the capacity to conduct competitive analysis properly will sail to the end without experiencing a hitch. As if this is not enough, other aspects of competition like substitute, competition have also become eminent for the Nissan Corporation in the global market. Therefore, it is good for the Nissan Corporation to analyze the above potential competitors by examining the forces influencing competition in the motor industry business, consider the elements in this industry structure and the generic competitive advantage. According to Porter, the elements of industry structure include new entrants, buyers, substitutes, and suppliers ( Konsolas, 2017 ) . This Porter’s global competition analysis can best be explained using cars produced the Nissan Corporation and Toyota. The Nissan Corporation used to produce high-quality cars previously; however, this quality was comprised of giving the Toyota cars to fetch more customers in the European motor markets more than Nissan’s cars. Toyota completely took over making Nissan to revenge by resurrecting the quality of their cars and conducting strong marketing again to gain a competitive advantage in the motor markets global market.
Analysis of global business strategies that could create competitive advantages
Moreover, Porter went on analyzing the reason why some firms are more competitive in motors and spare parts in the global market more effectively than others as well as being able to sail through the global market successfully as compared to others because its strategies are more effective than these failed ones (Burke, van Stel & Thurik, 2016). For example, the Nissan Corporation doing the business on the global market must apply two strategies to gain a competitive advantage which includes being competitive against similar commodity industries in other countries and being competitive with the rest of motor systems. However, the best strategies that can help the Nissan Corporation to gain competitive advantages in the global market include lowering the cost of production and delivery, reorganization a third potential source of competitive advantage, especially in the export-oriented motor business and meeting the production shortfalls due to weather and disease problems.
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Evaluate your pricing plans with those of any competitors that may be providing identical or similar products or services
It is good to understand the prices charged by Nissan’s competitors selling similar motor products or offering similar motor services as Nissan because this would help Nissan take advantage of their pricing weaknesses ( Harrigan, 2017) . Knowing what your competitors charge can be learned from the trade press, interviews, and public accounts. Moreover, it would also be good to have the competitive personnel, purchase the competitor’s products, take part in trade fairs and indulge in espionages with the aim of knowing what your competitors charge on their products. Disregard all that they say and try to reconstruct their pricing strategy by looking at their marketing, management, production, and financial resources. Therefore, considering all these factors, “conduct your pricing plans by matching your value proposition and market share goals, identifying the right price for your brand strategy, establish the cost of goods sold and price floor, identify your competitors’ prices and value, price elasticity and creating your our optimal price,” as Konsolas (2017) advises . This helps you expand into other countries without your competitor becoming aggressive against you.
References
Abraham, A., & Agrawal, A. (2017). Strategy and competitive analysis of impact group of institutions Bangalore (Doctoral dissertation, Indian Institute of Management Bangalore).
Burke, A., van Stel, A., & Thurik, R. (2016). Testing the Validity of Blue Ocean Strategy versus Competitive Strategy: An Analysis of the Retail Industry. International Review of Entrepreneurship , 14 (2).
Harrigan, K. R. (2017). Strategic flexibility and competitive advantage. In Oxford Research Encyclopedia of Business and Management .
Konsolas, I. (2017). The competitive advantage of Greece: an application of Porter's diamond . Routledge.
