Level 3 formulate and analyse the strategy alternatives

The third level of the business modelling process involves identifying the tools to address the already spotted business problems and major business challenge. At this level, a set of realistic options of alternatives should be identified to solve the major business challenge and also address the minor problems. These options should be evaluated, using the pros and cons criteria. The strategy alternatives should also tackle the competitive market factors and provide the luxury company adequate leverage above its competitors. The strategies should also be aligned to provide the best output to fit with the characteristics and expectations of the consumers already identified on Level One. The analysis of the strategic business alternatives will often lead to the recognition of one of the alternatives as the most viable option. The proposed alternative must be justified with a clear statement of reasons for its choice.

Figure 9.4 provides an indication of some of the features that could be found at this level of the business strategy model of luxury brands.

Level 3: formulate and analyse the strategy alternatives

Strategy alternatives

E-commerce

Expansion

Proposed strategy

E-commerce adoption

* Customer relationship management and electronic customer relationship management

** Corporate social responsibility

Figure 9.4 The strategy formulation level of the luxury fashion business model

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