There are different strategies to attain competitive advantage like cost leadership, customer orientation, differentiation, operational effectiveness. The best possible strategy in this scenario is the cost leadership approach. The cost leadership strategy describes the phenomenon of lowering the cost with respect to other players in the market. Being a cost leader and gaining competitive advantage through this strategy can be very advantageous in the long run. Company has to achieve economies of scale through this strategy.
In today’s world people are becoming price sensitive, especially on items that are treated as luxurious or they are related to the entertainment arena. Therefore, lowering the cost of operations and retaining lower margins on offered items would attract more customers as the prices of Club IT would be lower than other players in the market.
In order to pursue this strategy Club IT would need in-depth financial analysis and all the information related to buying, selling items. Moreover, competitor’s price is a must for properly implementing this strategy. Prices of all the major competitors of all the products must be recorded and then they should be compared with the prices of Club IT. Other information includes the number of employees, effectiveness of suppliers and target markets of the competitors.
Thus, we can conclude that information is an integral part of every organization and every organization must fulfill all the information needs in order to achieve competitive advantage. Managing proper databases, storing and retrieving data in an efficient and an effective manner can be beneficial for Club IT in both short and the long run. An industry can be transformed just by effectively managing the information needs and strategic objectives of an organization can easily be attained if its information resources are managed effectively.
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