A strategy is an essential element that enables businesses to succeed in the  market  from buy pre-written articles  for a long time. .According to the video, strategy refers to the aspects that allow businesses to be different and unique in the marketplace. It involves selecting what not to do and building an understanding that the value of the whole is greater than the sum of the parts. Strategy separates an entity from the others given the uniqueness of the product, service or process adopted by an organization that is different from others. It also involves the activities of an organization that lays a plan of what it will do to achieve its goals. In this regard, the strategy can be variety, needs, and access-based. The strategy of an organization influences its ability to meet the needs of the customer which affects the competitive advantage.

A variety-based strategy is one in which an entity makes a subset of a product within an industry. This means that an organization makes an additional product from the existing product to increase its market depth. The new product reflects the organization desire to enhance diversification through the product lines. A needs-based strategy addresses the needs of a particular group of consumers in a better manner than the other entities. This strategy helps an organization to capture the unexploited opportunity or improve the way in which the needs are addressed. Finally, the access based strategy involves getting to the customers differently. For example, an organization may focus on the city-based population, rural consumers, or otherwise depending on the identified opportunity. According to the video, the main point of the three types of strategy is to create “a special thing” that offers the company value for being different.

Reflecting on the video, the strategy involves tradeoffs which means doing more of one thing for less of another. The things that cause tradeoffs in the strategy include doing things inconsistently, redoing how one delivers products, and limitations on what an entity can control. The tradeoffs create confusion in the implementation of the strategy. In this regard, leaders have a role to affect strategy through their agendas, discipline, response rate, and willingness to change.

Businesses have applied the concept of strategy across the world. In particular, the variety-based strategy has been and continues to be used by Apple Incorporate in the manufacture of iPhone. When Apple launched the iPhone model, the product was least developed. However, as consumer markets advanced and the need for superior phone capabilities necessitated the addition of new features. The original brand of iPhone was retained with improving models of iPhone 3G, iPhone 4, iPhone 5, iPhone 6, iPhone7, and most recently iPhone 8/X being launched. The development of different and improved models of the iPhone by Apple represents a strategy of innovation to maintain the competitiveness of the company in the market. Another example of strategy was the improvement of the coca cola beverages. The introduction of Coke Zero and diet coke by Coca-Cola is a needs-based strategy. Following concerns of the consumption of sugary beverages, Coca-Cola developed a strategy to respond to the needs by introducing new product lines that were sugar-free. This was an attempt by the company to satisfy the changing needs of the market and differentiate the brand from others that offer sugary products. In this regard, through the introduction of the new brands of Coke zero and diet coke, Coca-Cola wants to make the company's brand unique and survive in the market in the long term by reflecting its business model to the changing consumer preferences.

To conclude, a strategy can be variety, need, and access based. A strategy enables a company to be different and unique in the marketplace. A strategy pursued appropriately by an organization lets it respond to the needs of the market and take opportunities that exist in a manner that is better than how other entities operate. In this regard, a strategy is an essential aspect of enhancing the competitiveness of an organization in the marketplace.