Josh Generic Business Strategies
Capella University
FPX5006
February 1, 2022
Josh Generic Business Strategies
Generic business strategies are policies and activities that an organization employs to ensure a over other companies that operate within the market scope they serve. Josh is a mobile application owned by Dailyhunt. This Indian company seeks to penetrate the technology market to ensure it is competitive relative to applications such as Instagram and TikTok, used in the country to share short videos. Notably, the company targets the middle-class population as its marketplace (Lüdeke‐Freund et al., 2019). However, for the company to be sustainable in the short and long run, its generic business strategies need to focus on the internal and external factors that may boost the application’s attractiveness to all internet users. The company needs to focus on the generic , which comprise of lowering the cost at which the subscribers of the application get the services rendered by the social media platform, differentiation of the products to ensure that it offers vast options to the users, and focused market targeting on ensuring they can reach a wide base of customers seeking their services (Lüdeke‐Freund et al., 2019). The approaches will offer the organization the front that will enable it to have a competitive advantage in the technological market scope, which is highly competitive and volatile given the continuous changing trend in the sector.
Effective generic business strategies will encompass cost leadership. In a market scope that is highly completive and volatile, like the technological sectors, the company needs to model its services in a manner that will create pricing that hinders other companies from free entry into the market (Burgard, et al., 2020). Cost leadership will allow Dailyhunt to determine the cost of its services which will give it the strategic ability to control the market scope it is serving. Cost leadership will allow Dailyhunt to have the potential of managing the strategy process of influencing the factors that affect its operations internally and externally. Internally the company will have control of the resources they employ in production by minimizing the cost and maximizing the revenues. Externally, the company will have the competitive advantage to influence the entry and exit in the market due to its dominance through cost leadership. Further, products and operations will offer the company the opportunity to diversify its services and integrate to counter the competition posed by established applications offered by the Meta Company such as Facebook and Instagram and other applications, for instance, TikTok. Further, the generic business strategy must accommodate cost focus and differentiation focus (Burgard, et al., 2020). Cost focus will allow the company to regulate the specific costing of its services to establish its brand. Moreover, differentiation focus allows Dailyhunt to diversify its brand products to meet all the customers using the Josh application to increase its prominence in the market.
Analysis of Business Strategy a Company Use in its Marketplace Approach
The business strategy Dailyhunt uses in its marketplace approach is determined by various factors, which comprise the internal and external business factors. External business factors include; existing organizations in the market scope and the products they offer, the ability of consumers to relate with the product that the firm is offering, and social-economic issues within the market scope. The internal factors include the company’s resources, core competencies that enable their production and operations to be effective, and capabilities. Dailyhunt will have to undertake a market penetration strategy to ensure the company establishes the Josh application among the other social media platforms that people use contemporarily (Fruhwirth et al., 2020). Market penetration will allow the company to enter a market scope that it has not encroached on locally and internationally. To gain a competitive advantage, Dailyhunt needs to assess emerging technological markets since they have higher returns relative to the marketplaces where well-established applications such as Facebook, TikTok, and Instagram are often used. Hence, market penetration will enable the company to establish Josh application among the technological users and develop loyalty to increase the customers seeking to use the application. penetration will offer the company a competing edge because they offer alternatives to the existing social media platform in the sector.
Cost leadership business strategy will ensure the company has a competitive advantage while operating in the technological and internet market scope. Josh is a new application that has been rolled out in India. The company’s leadership role in cost leadership will allow it to determine the costs of its services. Companies that enter the market with products that offer alternative servicing as the social media platform will have minimal influence to erode the firm’s dominance in the sector. Hence, cost leadership offers the company a competitive edge to set prices that will favor its operations and regulate the entry of other organizations in the marketplace it is serving. Further, the technological and internet industrial structure would compel the company to undertake the differentiation approach to ensure that it diversifies its services and operations to keep up with the ever-changing technological and internet space and the advancement therein (Fruhwirth et al., 2020). Differentiation will enable the company to develop its services to meet all classes of its customers to increase the coverage of the use of the app globally. Focused cost leadership will enable Dailyhunt to be a competitive force that will ensure its services are regulated within a specific price range, allowing its brand to be established among its customers. Thereby, focused differentiation will allow the company to meet middle-class customers and all-range subscribers to allow the brand to grow beyond the market scope it is serving.
Analysis of Company Business Model
Core Products
The core products by Dailyhunt are the social media platforms that offer its customers the opportunity to interact with their family, friends, and social circle through their electronic devices such as phones and computers. However, the company is developing its brand based on the Josh application, which shares videos and social interaction to tap on the market gap that is not met by social media platforms such as Instagram and TikTok. The company has modeled its product to target the broad market in India of people using internet services (Fruhwirth et al., 2020). Jos offers people convenience, and the number of subscribers of the application is relatively low compared to other social . Therefore, every differentiation of products that the company undertakes is determined by the ability of the customers to obtain value from the services, the attitudes of the client to establish loyalty to the app, and priorities to increase the clients’ convenience.
Organization Streams of Revenue
The company’s money streams are derived from the organization’s services that people obtain from the social media platforms that Dailyhunt manages as a firm. The company’s lead product, the Josh application, is developed to provide subscribers with social media value that boosts the organization’s revenues. The value attached to the application is the mainstream income from the company. However, the organization has diversified its operation to offer other internet services such as airtime that people use to access the social media platforms that the firm has developed (Fruhwirth et al., 2020). Moreover, Dailyhunt has developed Josh as a rare application that will offer Indian people convenience while interacting with their customers in the country. The rare nature of the product makes the company generate money from the use of the application, which is embraced by a majority of middle-class people in the country who form the largest percentage of the people who use it. The rare nature of the application used for social internet interaction and sharing of videos has developed a competitive advantage over other social media platforms such as TikTok and Instagram in India, which has made the company profitable and enjoy huge revenue margins. The imitability of Josh has made the company exploit the organization’s core competence to diversify the product to counter competition in the country and earn money for the firm.
Customer Value Proposition
The customer value proposition of the Josh application is that it generates utility to the subscribers of the social media platform, which is reflected in the revenues that the company generates from the operations of the app. The application offers middle-class people the convenience to socialize with people in their circle and exchange videos at a favorable internet cost compared to other apps such as TikTok and Instagram. Customer value proposition concerning the company is reflected with the dominance that the company has started to enjoy in India, and most people prefer it (Fruhwirth et al., 2020). Therefore, the company seeks to diversify its product line to ensure that customers can derive utility from the services they obtain from the application.
Company Profit Proposition
Dailyhunt operations and the cost of managing the Josh application and other social media platforms should be minimal. At the same time, the revenues are maximized to ensure the organization can improve its economies of scale. The company’s profit proposition needs to be informed with the opportunities to encroach marker scope beyond the Indian marketplace to ensure they invest minimum capital while the revenues keep increasing. The should be guided by capital diminishing returns in new markets while the revenues increase. Market penetration to markets that the company has not expanded will allow the Josh application to increase its prominence while customers develop loyalty towards its use (Fruhwirth et al., 2020). Therefore, Dailyhunt profit proposition is anticipating an increase in revenue since it is a newly emerging application that offers people convenience regarding costs and effectiveness on how it performs to subscribers, hence increasing the organization’s income portfolio.
Analysis of Josh Corporate Strategy of the Company
Dailyhunt corporate strategy encompasses vertical integration and diversification of its products and operations. Josh is a new application in the market and still offers its services in India and has not been introduced in the global market. Thereby, the company is involved in a vertical integration strategy to ensure that it can expand its operations beyond India and compete globally. Vertical integration will allow the company to develop some of its operating subsidiaries in other territories to enable the company to be within reach of market scope, which it has not penetrated. The vertical integration will allow the company to gain a competitive advantage and gain in the marketplace where existing applications such as TikTok and Instagram are used (Straková, 2019). Therefore, Dailyhunt’s vertical strategy will allow the organization to grow its portfolio, increase its customer coverage and increase its dominance and presence in the technological market.
Consequently, Dailyhunt diversification of its products and operations enables the company to capture many consumers. It is not limited to the middle-class people who form the majority of the people who have identified with the Josh application and use it. Diversification of Dailyhunt products will allow the company to gain a by offering various options that can be used by different categories of customers who opt for the services it provides through its application. Further, diversification of products will allow the company to tailor various products in regions that they perform best without incurring costs to invest in destinations where some of the services they provide are not appreciated and attract limited revenues (Straková, 2019). Operations diversification allows the company to connect with the customers they serve in the various destinations. Moreover, operations diversification will enable the company to achieve vertical integration in its growth to undertake its operations at the global level.
Analysis of Overall Corporate Structure and Key Management Systems
Dailyhunt, the owner of the Josh application, is a company that employs diversification to allow it to grow its business portfolio. It will ensure that its brand application still used within India alone can meet the global standards and attract preference, taste, and loyalty in other destinations of the world. Further, the company employs vertical integration as a key management system to expand its operation beyond the Indian borders to gain a competitive advantage relative to other organizations that operate in the internet technological market scope (Straková, 2019). Therefore, with the volatile technological market and evolving internet space, the company is implementing globalization policies to ensure Josh is a globally recognized application and appreciated among the existing ones.
Analysis of Strategic Fit Between the Business and Corporate Strategies of Dailyhunt
The strategic fit that the company employs are the implementation policies and systems that it has established to ensure that it can incorporate both the business and corporate strategies to allow the company to grow and expand its operations beyond India. The company undertakes the components of organization designs, including the firm’s culture, structure, and control, to meet its business strategies and develop a relationship with the customers it is serving (Straková, 2019). On the other hand, the company implements its corporate strategies by ensuring the corporate governance and business ethics meet the global standards to give it the scope it can exploit in its expansion and gain a competitive advantage from its competencies.
References
Burgard, J. P., Dieckmann, H., Krause, J., Merkle, H., Münnich, R., Neufang, K. M., & Schmaus, S. (2020). A generic business process model for conducting microsimulation studies. Statistics in Transition New Series, 21(4), 191-211.
http://www.math.umd.edu/~plahiri/pdfs/SIT_Special%20Issue_Vol%2021_No_4%20PRINT%20(2).pdf#page=203
Straková, J. (2019, April). Current situation and trends in creating corporate strategy. In International Conference at Brno University of Technology, Faculty of Business and Management.
Fruhwirth, M., Rachinger, M., & Prlja, E. (2020, January). Discovering business models of data marketplaces. In Proceedings of the 53rd Hawaii International Conference on System Sciences.
Lüdeke‐Freund, F., Gold, S., & Bocken, N. M. (2019). A review and typology of circular economy business model patterns. Journal of Industrial Ecology, 23(1), 36-61.
