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Business Strategies - Coggle Diagram
Business Strategies
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Identifying S.W.O.T.
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opportunities - market demands, trends, or even new technology are opportunities that gives the product or services potential in producing large amount of sales
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threats - New competitors, change in legislation, or even political, economic, legal, or environment events can have impact on production or demand
identifying target users
Demographic: Consider relevant demographics such as age, gender, race, education level, marital status, income levels of potential customers, etc.
Psychographic: Lifestyle, social class, personality-based segmentation
Usage-related / Behavioral: Timing of market launch – whether seasonal in nature, Life-cycle of product – period in which the product is favorably accepted in the market
Positioning
Positioning is how your product is being perceived in the minds of customers as compared to your competitors.
using AI tools like Canvas can help easily compare how customers rate your product against similar products from other competitors
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