Clusters, small business (Five forces, Porter's generic strategies, Essay

Clusters, small business (Five forces, Porter's generic strategies, STP with marketing) - Essay Example First, it can use mass marketing strategy where it focuses on medium-end quality door according to different ages as they have different segmentations. Targeting the mass market may help drive huge purchases of their products for them to survive and grow in the international market (Panda, 2008: 98). Secondly, the company can use targeted marketing strategy. They should focus on high income individuals by tailor making high quality doors. By communicating their value proposition well, they will be able to attract and retain many customers internationally (Tyagi & Kumar, 2004: 72). Thirdly, they can use tradeshow marketing strategy. It should participate in Trade Fairs, Chinese Guangxi - Southeast Asia Business Expo, the CAEXPO as well as other transnational commodity fairs so as to attract both local and international customers. Finally, the company should use global marketing strategy. The company should have sales agents through other countries door expositions in Europe so as to e xpand its customer base (Nijssen & Frambach, 2001: 45). It helps the company to analyze the industry and the market in which it will operate. This theory can equally help the company attract current buyers and future buyers over the world especially in Europe market. The company can use personalized or differentiated services so as to win customers thereby avoiding the threat of new entrants that may decrease profitability or take away some customers (Hill & Jones, 2010: 179). The personalized of differentiated products can create customer loyalty to the company’s brands thus creating a barrier to entry. To protect itself from the threat of substitute products, the company should develop high quality state-of-the-art doors with low ease of substitution (Roy, 2009: 64). This will increase the customer satisfaction thus reducing buyer propensity to substitute. Further, the company can implement loyalty programs to reduce bargaining power of