Answers
1. What is the competitive strategy that ROLEX Watches follows?
The competitive strategy that we can see ROLEX following is the differential strategy on the base of class and quality. By charging extremely high prices, the company provides premium and luxury watches to people for the differential feeling of class and quality.
2. What other companies follow this strategy?
Many other companies like Apple and Ferrari follow the same strategy. Apple again, offers its products at a price higher than the alternatives being offered in the market but again, premium, class and quality is being delivered with the same products.
3.
What influential factors do we take into account when discussing external analysis of organizational strategy?
The influential factors that we take into account while developing or analysing the organisational strategy would be the MACRO or external elements of the market. These are the economic factors, competitiors, customers, law and the social factors which would decide how effective is the organisational strategy is working in the dynamic environment.
4. What do they represent?
The represent the hold these factors have on the organisational strategy that you are using. They represent the external dynamic factors that are not in the hands or control of anyone that coul affect both your organisation's performance and strategy in the market place. For example, your differential strategy could work great by analysing there is a demand for high quality goods that are not being offered by anyone in the competition.
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