which business-level strategy should be more appropriate for Iconic to implement?
Answers
An organization's core competencies should be focused on satisfying customer needs or preferences in order to achieve above average returns. This is done through Business-level strategies. Business level strategies detail actions taken to provide value to customers and gain a competitive advantage by exploiting core competencies in specific, individual product or service markets. Business-level strategy is concerned with a firm's position in an industry, relative to competitors and to the five forces of competition.
The principle of satisfying the clients is the business-level strategy should be more appropriate for Iconic to implement.
Explanation:
To establish an appropriate and ideal business platform, it is very necessary to take care of the needs of the clients. The business-level strategy should be defined and constructed having a sense of client satisfaction.
Any organisation which does not satisfy the clients is not supposed to be successful. Unless the customers have all their queries resolved, the business strategy would not work. Hence it is important to see where the clients are having a problem and how to resolve it.