During the last years, I designed & implementated a High end differentiation Strategy by taking into consideration the external environment (Domestic & International), as well as the internal environment (capabilities & resources).
By focusing on the firm’s strengths and allocating its economic/human resources in technology, R&D and marketing, the brand was awarded one of the “top seven superbrands” of the Greek ‘jewellery-watches-optics’ market.
Every product category (fashion rings, pendants, crosses, solitary rings etc.) in the jewellery industry has different customers, competitors, cost structure and suppliers. This makes it almost impossible for any firm to try to compete in all of these areas respectively.
The firm should decide eventually in which category of these products should be involved and design different business model (BM) by focusing its resources and capabilities accordingly to become the leader in each of these BMs.
Without underestimating the significance of other business units & operations, the field of marketing has the greatest potential in contributing to the final success of the differentiation strategy and increase customers’ WTP (Willingness to Pay).