A Marketing Plan for an Asset Management Company Using GPS Satellite Literature review

A Marketing Plan for an Asset Management Company Using GPS Satellite Technology - Literature review Example Haghighat (2008) conducted a research on the usage of GPS technology and noted down examples of numerous industries like airlines as well as logistics that have used this technology to generate competitive advantage. The author has also stated the use of this technology even in areas like agriculture and farming (Haghighat, 2008, p.2). Parsons & Oja (2011) in their research on GPS technology stated the use of GPS towards research purposes and also states the use of this product in areas like policing and tourism (Parsons & Oja, 2011, p.42). Gulati & Paoni in association with the Kellogg School of Management (2003) conducted a research on the use of GPS technology in logistic companies and stated that the use of this technology can largely help firms and suppliers to track down the trucks and other shipments that can help them keep a track on the exact location of the shipments (Gulati, Paoni & Kellogg School of Management, 2003, p.214). ... Firms choosing a differentiation strategy sell a product that is largely distinct of its kind in the market. Firms adopting this strategy focus on a specific customer segment and charge a premium for its differentiated products and services. Focus strategy is adopted by firms who generally try to attract a very niche customer segment with a very specific product offering to target very specific needs and wants of the selected customer segment. The author largely advocates firms to adopt and implement either one of these strategies so as to help formulate strategies that can use the resources of the organization in the best possible manner to generate competitive advantage for the organization (Botten, 2007, p.263). SWOT Analysis In order to efficiently take advantage of the market opportunities it is necessary to conduct an internal analysis of the firm. Pahl & Richter (2009) conducted a research in this regard and stated the use of SWOT as a tool for internal analysis. SWOT is a too l that can be used by firms to analyze their internal strengths and weaknesses and also identify the external opportunities and threats. According to the authors a SWOT analysis largely helps firms to analyse the extent to which the strategies of the firm can help in maintaining sustainability within the organization. Firms can largely use this technique to identify their areas of strengths, weakness, opportunities and threats and use i8ts strengths to leverage upon the opportunities and to eliminate their weakness and minimise the threats. The authors also stated that this toll can also help firms to prepare a BCG matrix or implement a balanced scorecard as a tool for monitoring and