Book Soup is following a ‘differentiation’ strategy in which they are targeting the entire industry through its store developing competitive advantage on the basis of uniqueness that is perceived by their customers. The primary advantage that successful execution of Book Soup’s strategy of differentiation will produce is that the company will be in a position to build customer loyalty by positioning its goods and services in a manner that is unique and different from competition. Buyers can buy a book from any brick and mortar store or from any website. But due to successful execution of its strategy Book Soup is able to provide value added services like reading recommendations, readings by authors, and availability of hard to find books. All these helps in not only attracting new customers but also helps in building customer loyalty due to the high perceived value that is associated with Book Soup.
Bogdan Reels is following a strategy of ‘focus’ in which it is looking to cater to a niche market. Bogdan Reels is not catering all reel buyers; in fact it is catering to special needs, wants and interests of its target customers. Bogdan Reel is a small enterprise and does not have the might to achieve a national scale. Hence it is looking to target and serve a narrow target market. The primary advantage that successful execution of Bogdan Reels’ strategy of focus will produce is that the company will be able to serve its target market more effectively as well as more efficiently when compared to its competitors.
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