Need a Rewrite on business policy homework

Post your initial response to the Discussion Questions by midnight on Thursday. Then by Sunday at midnight CST/CDT you must provide a substantive response to two or more classmates' posts. Use the concepts learned from the text as well as from outside sources (at least two [2] are required) for compiling the response to each Discussion Question.  Cite the sources used in the Discussion Question posting as well as in the peer responses IAW APA Format.

Important: Your grade for the responses you post in our Discussion Area will be determined not only by your responses to the assignment questions, but also by your responses to your fellow students' postings. Be sure to reply to at least one posting for each Discussion Question. Otherwise, five points will be deducted from your grade.

Discussion Questions

(Two questions from Chapter 6)

1. What industry forces might cause a propitious niche to appear or disappear?

The environment or industry changes. The company or SBU continues to make its products or services but the size of the market changes. The company or SBU changes. The same market demand continues for some specific products or services but the company or SBU itself changes so that there is no longer asynchronization between itself and the market. If a company or SBU loses its niche, it is likely to get much less profitable unless it gets a new niche. The specifics of what might happen depends upon how the company had lost its niche. The possibilities of class discussion can be almost endless.

2. What does a business have to consider when trying to follow a cost leadership strategy and a differentiation strategy simultaneously? Can you name a company doing this?

A cost leadership strategy is a “company’s ability to design, produce, and market a comparable product more efficiently than their competitors (Wheelen 2015).” A differentiation strategy is a “company’s ability to provide unique and superior value to the buyer in terms of product quality, special features, and after-sale service (Wheelen 2015).” With that, if a business decides to follow these two strategies simultaneously, it has to plan. After finding a niche market, the company would need to determine what price would be the most profitable for their company as well as find a product that offers differentiation (Thakur, 2014). An example of a company that does this is Apple with their Iphones. In the electronic market, Apple and Microsoft are dominating companies and they are often both looking for ways to differentiate their product, while also keeping their prices reasonable. With Apple, they offer product quality as well as Apple only software including FaceTime and Siri.