Question

• A description of the challenge or problem (e.g., Why is it a problem? How long has it been going on? What may have caused the problem?)
• The stakeholders that are affected by this challenge or problem as well as how they are affected and why it matters
• The obstacles that may prevent the challenge from being resolved or that may make it difficult to resolve or mitigate
• The risks and consequences if the challenge or problem is not resolved or mitigated
• The effect of emerging trends on the marketing challenge or problem
• Innovative or current techniques in the field of marketing that could resolve or mitigate the challenge you have identified with a discussion of why those could be of benefit
• Two solutions that will resolve or mitigate the marketing challenge, with an explanation of why these solutions would be effective

Answer 1

In 1998 xenia was one of the leading producers of the transducers in the world. Company produced the most qualitative transducers and was a world leader in producing the same. As the company remain in the market for some years, competition from the Asian companies was increased by a large margin. As Asian companies have more resources and labours which made them sell the same product for the price at which xenia was only constructing their products. By this much price gap xenia's business was going down.
Essay competition was increased xenia has to define something for their new core competencies otherwise they would have been gone out of the business.
For overcoming this problem Xenia's engineers redesign all the components of the transducers which were later purchase from xenia's vast availability of the suppliers. The new price was defined according to the competition in rest of the world. By selecting the specific supplier from there used list xenia was able to get the drawings according to their specifications. Later the supplier builder drawing into the component.
Companies management responded to the new competitive thread which was going up and shifted the company's Cooperative strategy to a new set of core competencies, new product innovation, supply management and assembly.
The level of supply management was announced by introducing a new executive position in the management of chief procurement officer(CPO) which later became a member of the executive committee which allowed him to input more in the developmental strategy of xenia. Just in 3 years xenia reduced its suppliers number from 4000 to 400 and only dealt with the suppliers who gave them world class status with hugely long contracts. Tea suppliers what the mean participate in the development of the genius new transducers.
By doing this shift towards the core competencies, overall cost of goods which was sold by the company world drop down to 50% and the quality problems were totally disappeared. Overall time from innovation to the actual product reduced by 45% and the production Lead time was reduced by 65%. All of these results were achieved by Senior in just 3 years which are a result of changing the core competencies and understanding the market.