Competitive Strategy for Companies and Products -myassignmenthelp

Question: Discuss about theCompetitive Strategy for Companies and Products. Answer: Introduction of the Companies and Their Products: The two chosen companies for the journal are Campbell and Progresso based in United States. Both the companies are majorly into the food industries and the most popular selling products of the companies are the soup products. Strategies: Competitive strategies are something that enables a company to plan their business strategies in such a way, which help the company to sell their products in the competitive market (Walker Madsen, 2016). To achieve the future growth and profit both the companies needs to redesign their strategies for marketing of the soups. The competitive strategies do not only include the improvement of the quality of the soups, but also making it more attractive to the consumers to ensure the selling of the product. For example, Campbell focuses on the innovation of the new products and the improvement of the quality of the soups. It is suggested that the company needs to redesign marketing strategies for potential products too. Again, for Progresso, the company needs to rethink their strategies to win the battle of soup over Campbell. One of the major food components is MSG, which Progresso needs to add in their most selling soup products, since the Campbell has already added the featured into their products. Another analysis is suggested for both companies to measure the competition level and the design the business strategies accordingly is porters Five Forces. The five forces include the entire industry based on competition, consumers, suppliers and threats from the other sources (E. Dobbs, 2014). Analyzing with this model will help these two companies to plan their marketing strategies for future profit and growth. Figure 1: Portes Five Forces Reference: Dobbs, M. (2014). Guidelines for applying Porter's five forces framework: a set of industry analysis templates.Competitiveness Review,24(1), 32-45. Walker, G., Madsen, T. L. (2016).Modern competitive strategy. McGraw-Hill Education.