Argyle Diamonds Strategic Business Plan Case Study

Argyle Diamonds Strategic Business Plan - Case Study Example Companies should have successful competitive strategies to be able to attract, retain and grow customers. However, before the company can plan and execute these strategies, it should be able to pinpoint its sources of competitive advantage which can be differentiated through products, services, channels, people and to age (Kotler & Armstrong, 2001). Since the market is in the international orientation, the advertisers should keep in mind the differences that are distinct between and among the target market from different cultural backgrounds which may significantly affect the effectivity of the campaign. The fact is, there may be ideas that will not be applicable across the diverse target market population. Studies on the relationship of consumer behavior and their personal values and cultural orientation as well as their beliefs on certain principles, the dispositions they hold and the side they take on political, gender and social problems and issues should be duly accorded. Moreover, other elements, such as understanding the right target audience for a product or service, an indeed, researching such an audience in considerable depth, are equally important. Similarly, even if the appropriate channels are known and understood, the content of the messaging and communications developed for those channels, and that audience, or nature of critical importance. Such channels, for example, will include TV advertising, or an outdoor campaign. Advocates of such channels will argue with justification, that media can now be bought to give a highly articulate degree of one to one targeting, but more importantly the inclusion within messaging across these channels of a telephone number, email address, or website, fulfill our requirement to develop one to one dialogue (Elgar, 2003).