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Business Strategies - Coggle Diagram
Business Strategies
Green Strategies
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Create greener product
A company can create products that uses recycled materials, or from materials that are less resource-intensive that produces a lower carbon footprint.
Marketing Mix - 4P's
Place
Refers to the product’s channels of distribution or how it is conveyed from the producer to the end user. This would ultimately affect the reach of the business.
Price
Different price strategies can be utilized at different stages of the product life cycle. Some of these price strategies may include:
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Product
Refers to product differentiation. The product should be differentiated from competitor’s products in terms of quality, quantity and intellectual property protection.
Promotion
Involves communicating the product attributes and the corporate image in the most favorable light to intermediary sellers and end users.
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Goals/Objectives
Mission
A mission statement focuses on the present and near-future, and defines purpose, suggesting what the organization needs to do.
Not as general or broad unlike a vision statement.
Vision
A vision statement looks to the future and defines aspirations, broadly stating where the organization aspires to go in the long run.
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Target Market
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.
Demographic
Consider relevant demographics such as age, gender, race, education level, marital status, income levels of potential customers, etc.
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