CH. 2 - Strategic Planning for Competitive Advantage

Marketing Strategy 

The most current marketing strategy recently announced from the Martha Stewart Omni Media Company are contracts with JC Penny & Macy's. JC Penny & Macy's are department store empires with a customer base of more that 200 million. In order to build their existing customers relationships they will expand their distribution locations by including JC Penny & Macy's.  With a product line already existing in other significant household name department stores such as HOME DEPOT & Kmart, Martha Stewart will increase her target market by the millions.

JC PENNY  

The is one of the most effective key elements in a  Marketing Plan, once the distributors are selected the target market is easily established. Another key element would be to review previous marketing strategies that produce  Cash Cows, this strategy is also know as Conducting a Situation Analysis. By using ANSOFF'S Strategic Opportunity Matrix , Martha Stewart  can continue to promote the high quality products she sells in department stores, while she use an innovative television show allowing her customers to learn first hand her creative techniques. 

The Competitive Advantage of Martha Stewart  is the her high quality products at low reasonable costs, which is also know as the Cost Competitive advantage .  The customers that ordinarily shop in Macy's are searching for a more expensive product. Designer products are not considered in the same category as a product in a Kmart Store that are known for a less expensive product. Pricing Strategies will also be significantly different, allowing a large area for development. If the customer thinks that they are getting a better deal for a higher end product, they will continue to increase the spending at that store. The customer can also find a Martha Stewart product in various stores as oppose to waiting for an item to come back in stock.