Question

-Chase strategy

-Mixed Strategy

-Level strategy

Which strategy is recommended? why.

Show answer with pros and cons for the strategy that is recommended?

Answer 1

Solution:

Chase strategy is recommended for business in today's era. The Chase strategy states that the businesses chase the demand set by the market and thus wherever there is demand in the market the business will manufacture the products accordingly and supply the market with its demand. This strategy is very useful due to its operational efficiencies and this strategy poses a variety of benefits which helps the business in being profitable.

The pros of this strategy involve the process which basically is a lean process and helps in reducing the waste and being extremely cost efficient leading to a better bottom line of the company. The lean thinking of this strategy is the crux of the chase strategy in today's era. The cons of this strategy will be the situations when the supply can become insufficient in meeting the demand resulting in high loss of revenue opportunity and thus result in loss of brand value among the customers.

Hence, Looking at the pros and cons the chase strategy is highly recommended for businesses.