Management Organazional Strategy Competitive Advantages of Kickstarter

Question:-

Explain Strategic recommendation to improve the competitive advantages of Kickstarter

Answer:-

The mission statement of the company is to "help bring creative projects to life." Due to the high level of competition in the market, the organization needs to focus on its strategic approach towards the core function of the organization. The following recommendation will help the organization to enhance its competitive advantages.

Kickstarter needs to extensively focus on social media marketing. Social media marketing is very effective in making an organization visible in the market. Social media such as Facebook, Instagram, Twitter, Snapchat, etc. are very effective in their reach. Every platform has billions of users and hence if the organization uses such platforms, it can increase its reach extensively (Felix et al., 2017). Many of the competitors of Kickstarter are focusing on brand recognition whereas Kickstarter brand recognition is poor compared to its competitors and it is one of the key weaknesses of the organization. Thus, using social media marketing will help in improving its brand recognition and strengthen the brand image of the organization. The organization has a larger number of followers on social media compared to competitors and hence using social media marketing will help to motivate the followers of the organization. The organization has also the opportunity to increase its reach to more creative people around the world through social media because social media is a platform where people show their talent and creativity (Duffett, 2017). Thus, the organization can promote its service using social media to reach such people.

The organization needs to introduce an effective reward system in order to motivate and encourage doners. An effective reward system has been found very influential that can affect the thinking pattern of people and induce them to do or involve in a particular action in order to get the reward. Thus, if Kickstarter is using an effective reward system and give attractive rewards to its donors, it will help the organization attract more donors to the organization with the help of which the organization can gain competitive advantages (Balkaya & Catak, 2016). It is also important for the organization to consider that there are two major forms of reward such as monetary reward and non-monetary reward and according to the need of people reward is provided to keep them motivated. The organization needs to identify such people who are not in need of monetary reward because it will not benefit the organization. People who need recognition and achievement in the form of certificates can be targeted by the organization. As the number of donors will improve, the organization can achieve its objective and goal more effectively and efficiently.