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Business Strategies - Coggle Diagram
Business Strategies
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Goals
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Mission
It is a statement that present, near-future, and defines the purpose
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Target Market
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Demographic
Consider relevant demographics like age, gender, race, income status etc.
Psychographic
Lifestyle, social class, personality-based segmentation
Usage - related
Timing of market launch - whether seasonal in nature, Life cycle of products
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Positioning
is how your company’s product is being perceived in the minds of customers as compared to your competitors.
4 P's of Marketing Mix
Products
Product should be differentiated from competitors' products in terms of quality, quantity and intellectual property protection
Place
refers to the products' channel distribution or how it is conveyed from the producer to the end user
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.
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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