Business Strategies
Successful Business
Having a business plan is one such way to ensure various strategies are looked into
Wide Presence of business
Sustained Business
Well-known business
Goals / Objectives
Vision
Mission
S.M.A.R.T. Goals
Specific, Measurable, Achievable, Relevant, and Time-Bound.
Competitive Analyisis
Competitive analysis is the process of identifying competitors in your industry and researching their different business strategies.
S.W.O.T. (strengths, weaknesses, opportunities, and threats)
Target Market
Demographic
Psychographic
Usage-related / Behavioral
demographics such as age, gender, race, education level, marital status, income levels of potential customers
Lifestyle, social class, personality-based segmentation
Timing of market launch whether the product is in season or that the product is popular in the market.
Positioning
Positioning is how your company’s product is being perceived in the minds of customers as compared to your competitors.
Strategy Canvas, a charting tool which compares how customers rate your product against similar products from other competitors.
Marketing Mix
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Manufacturing Cost – Tooling, Material, Labour, Packaging
Promotional materials
Shipping
Commissions
Rental
Profit Margin