selling points and product positioning are poorly defined which can result in

Selling points and product positioning are poorly

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selling points and product positioning are poorly defined, which can result in competitive disadvantages attacks in its market niches (Baumgartner and Rauter 85). What is more, Iknoor is unsuccessful at integrating employees with diverse cultures in its business. Even though the company has a productive workforce, it has failed to restructure its corporate structure to incorporate employees with unique work cultures. Iknoor also has an inefficient and poorly executed financial planning. The firm’s liquid asset ratios and current asset ratio imply that Iknoor can utilize cash more resourcefully than what it is doing presently. Additionally, there are gaps in the service range that Iknoor provides (it only supplies trucks to job sites). As such, the unavailability of choices can give the firm’s competitors gain a strong footing in the construction and trucking industries. The organization is also not skillful at predicting customer demands, which leads to high rates of unexploited prospects compared to market rivals (Armstrong et al. 35). Additionally, Iknoor has failed to respond adequately to
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Surname 8 market challenges presented by new entrants in the niches it operates. In such a way, the organization has lost significant market share in certain niche segments. To offset these issues, Iknoor ought to design internal feedback mechanisms directly from local sales teams to understand market changes. Opportunities for Iknoor Despite the possible weaknesses in Iknoor’s corporate strategy, they are numerous opportunities that the organization can exploit to expand its market reach. For one, new technologies present countless opportunities that Iknoor can capitalize on to improve its product offerings. With new inventions, Iknoor can create differentiated services in its target markets. Besides, such opportunities will allow the company to retain its loyal consumers through the provision of quality services and value-oriented propositions that appeal to the potential clients. Furthermore, stable free cash flow can be a vital source of opportunity to invest in viable product categories. With more liquid cash, Iknoor can make investments in new technologies, hauling segments, and ventures that enable long-term growth (Armstrong et al. 58). This has the ability to provide Iknoor with more market share. Reducing costs of transportation due to declining prices of raw materials can also lower operational costs at Iknoor thereby offering new opportunities to the firm – to either increase profit margins or pass on the low costs to consumers to gain more share in the market. Other than the mentioned opportunities, market development is a prospect that can give Iknoor competitive advantage. In particular, this endeavor can erode competitors’ advantages thus enabling Iknoor to enhance its competitiveness in the construction and trucking market.
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  • Fall '15
  • Mr. Njoroge

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