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Business Strategies - Coggle Diagram
Business Strategies
Sustainability
Appeal to consumers who are more environmentally-conscious
Be An Environment Advocate
Green Campaigns
Sustainable Packaging
Recycling or waste reduction programmes
Greener products
How a company is successful?
Wide presence of business
Well-known business
Listed companies
May indicate public confidence
Sustained business
Marketing mix - 4Ps
Place
Where consumers buy the product or where they discover it
Promotion
Specific and thoughtful advertising
Price
Cover costs & generate sales
Manufacturing Cost, Packaging, Promotional materials, Shipping, Commissions, Rental Profit Margin, etc.
Skimming price
Fair/parity pricing
Penetration pricing - attractive prices at product launch
Cost-plus pricing - Mark price up to ensure profit
Product
Different & unique
Goals & objective
Mission
SMART Goals
Attainable
Relevant
Measurable - can be concluded
Time-based
Clear & specific
Vision
Target market
Demographic
Psychographic - Personality-based
Usage-related / Behavioral - when the product is favorably accepted in the market
Competitive analysis
Internal
Strengths
Weaknesses
External
Opportunities
Threats
Capitalise on competitors’ weaknesses & enhance company’s strengths
Positioning
Strategy canvas
Comparison of similar products with other companies
How company’s product is perceived by customers compared to competitors