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Business Strategies - Coggle Diagram
Business Strategies
SWOT analysis
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Strength and Weakness tend to look inwards at the company itself ( self, staff, products, business and operations)
Opportunities and Threats are focused on company-external factors (Impact on business, market, consumer. Trends, legislation, financial issues)
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Green Strategies
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
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4P - Marketing Mix
Product
refers to product differentiation. The product should be differented from competitor's products in term of quality, quantity and intellectual property protection
Place
refers to the products channels of distribution or how it is conveyed from the producer to the end user. This would ultimately affect the reach of the business,
Promotion
promotion involves communicating the product attributes and the corporate image in the most favorable light to intermediary sellers and end users. At the same time, we also need to consider through what channel is the promotion being done
Promotion may also include strategies to increase sales of product or services.
Price
setting the correct price is very important. The correct price will ensure that we can cover all costs. At the same time, the correct price can help to generate sales.
Target Market
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
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