It gives useful information to Apple about what improvements and innovative features its potential consumers want to see in its products.
As far as the effectiveness of these measurement guidelines are concerned, Marketing Research is the most effective way of knowing the consumers' response, whereas Development brings the most stylish and highly advanced products in the market. The investment which Apple makes on R&D never goes waste; instead, gives it returns that are many times higher than those investments.
Environmental Scan for Marks & Spencer's
Marks and Spencer's, incorporated in 1884 is among the top market leaders in garments and food industry in the United Kingdom (marksandspencer.com, 2011). Facing a stiff competition in both the businesses, Marks and Spencer's ensures the highest quality of its products all the way through highly efficient business operations and Total Quality Management (TQM) so as to maintain its top position.
Thus, the most important competitive advantage of Marks and Spencer's is its due concern for Total Quality Management principles. Marks and Spencer's garment products are known for their first-class quality, reliability, style, and variety. Since its incorporation in 1984 and international expansion in 1974, Marks and Spencer's has never compromised on these important factors; the reward of which is in the form of loyal customers all over the world (marksandspencer.com, 2011). To ensure the strategic effectiveness, Marks and Spencer's expends a lot on highly advanced machinery and takes the service of highly specialized engineers and professionals. The measurement of effectiveness is done by comparing its business operations with the international standards of quality and efficiency. These strategies and measurement guidelines are very effective to compete in such a stiff business...
Reason being, customers want 'value' for their money which can only come from efficient business operations and TQM principles (Waters, 2006). Truly deserved, Marks & Spencer's has developed a good brand image on these two core competencies (marksandspencer.com, 2011).
Conclusion
Every successful organization has some core strength which can be transformed into a competitive advantage through effective and efficient business operations. All the three companies discussed in this paper are the top market leaders in their respective industries. Ferrari enjoys the competitive advantage of brand loyalty which it has achieved by making the most beautiful and stylish cars in the world. Apple has became the most successful company in Information Technology sector by bringing the highly advanced technological products while Marks and Spencer has become the number one garment brand with the help to its emphasis on Total Quality Management principles. Each of them came to know about its strengths and competitive advantage through the environmental scanning process. To create value and maintain the competitive advantage, each company has adopted a different strategy in response to its business environment. The measurement guidelines used are in accordance with the International business practices and are very successful at these companies.
References
Business Insider.Com, (2011). Apple. Retrieved on August 28th, 2011 from
Ferrari.com, (2011). About Ferrari. Retrieved on August 28th, 2011 from
Marks and Spencer's.com, (2011). About M&S. Retrieved on August 28th, 2011 from
Moutinho, L., Chien, C., S. (2007). Problems in marketing: applying key concepts and techniques. U.S.: SAGE Publications.
Waters, D. (2006). Operations strategy. U.S.: Cengage Learning, EMEA
