Management Style of Martha Stewart

Martha Stewarts strategy style based on Michael Porter’s three key principles of effective strategic positioning is broad needs, many customers. This strategy is used to create a unique valuable position, with broad needs it is the varying domestic based books, supplies, merchandise and etc, that she sells to many customers who look to her as a domestic role model. In August of 2005 New York Times, an article mentions how her ten months in jail has given her time to think, along with come with the decision that the company will broaden their services to develop “a line of branded homes designed by the company and inspired by her aesthetic,” (Carr, C1).
Each strategy requires a trade-off in competing, Martha Stewart is very meticulous with details which can take time, allowing her competitors to release a product before she sees it fit to release hers. This costs her loss in profit, but with her eye for detail and good material when her product does come out she can make back the profit lost, because her customers known that when they buy her product they are being a quality item. Although, taking extra time to make sure the product is close to perfect as it can be, costs them some sales and the awe effect of being the first one to sell it on the market, this is the trade-off to continue to uphold the brands name of making good, long lasting products; which has also gained her a wide variety of loyal customers.
Not all strategies “fit” within the companies activities, some are hit and misses such as when Stewart placed Charles Koppelman to the board, where “he became chairman of the board in 2005, where he negotiated a paid consulting arrangement for himself. He was viewed as enabling Stewart’s self-regard as much as tending to th...

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...all the money they had already invested it was too costly to abandon and they should continue to focus on completing it.
With the success of past cookbook’s and Stewart’s new positive media publicity she used the anchoring & adjustment bias of decision making to decide that now would be a perfect time to release her new cookbook, even though the company at the time did not have very high viewer numbers and a poll showed only 52% would consider buying the new book.
Stewart used the overconfidence bias of decision making when releasing multiple products at once, thinking that all would sell like past products had, only to find that customers were unable to buy her products because of the recent downfall in the economy. This caused the company to lose money as their confidence in the products selling outweighed the current economic environment of their key audience.