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Essay / Research Paper Abstract
This 5 page paper considers the ways in which the premium hand made crisp producer Tyrell have expanded their market in the past and presents the justification of an expansion into the dried fruit snack market. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEtyrell.rtf
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Unformatted sample text from the term paper:
the result of frustration at a market where the Will Chase was fed up of supply supermarkets with very specific requirements where the power in the trading resided with the
supermarket. Chase was motivated to find a better more profitable way of trading and it was as a result of this that the initial growth was developed with the use
of a new product, this was differentiated. Michael Porter has considered the way in which firms compete, and defined two types of
competitive advantage. These are cost advantage and differentiation. In trying to undertake a cost advantage the company may seek to be the cost leader in either the industry, or just
the relevant segment of the industry. For Tyrell as a new company this was not an option, and as a smaller company with many competitors it is also unlikely to
be a realistic long term. Differentiation is described by Porter as "when it [the company] provides something unique that is valuable to buyers beyond simply offering a low price"
(Porter, 1985; 120). This means that the products different in some way, this may be real value through features and extras, perceived value, such as brand value (Grant, 2004). The
differentiation strategy will usually involve choosing either one, or preferably a few key features or characteristics which have a broad perceived value in the market or segment that the company
operates within (Thompson, 2005). Then the company can selectively adds costs where those features are added which customers will see as worth the additional cost (Thompson, 2005).
The differentiation was in the product type, thicker crisps which were hand fried and an image that created a perception of a healthier more natural
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