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Business Strategies - Coggle Diagram
Business Strategies
SMART
Specific= set clear, precise objectives
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SWOT
Strength
- Outstanding or unique products.
2.Successful and effective processes.
3.sustainable and ecologically friendly practices.
Weakness
What features are missing from your product as compared to competitors' offerings? Upgrades to processes that might be necessary.
opportunities
1.The variations in the capacities of competitors.
2.Emerging or novel market patterns.
3.Associated new technologies.
Threats
1.Potential entry of new competitors
2.The percentage of the market that the competition currently holds.
4P's marketing mix
Product: The product ought to distinguish oneself from its rivals in terms of quality, quantity, and intellectual property protection.
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Price: Setting the appropriate price is essential. If we decide the right cost, we can assure you that we will be prepared to pay for all costs.
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Promotion: Promoting the business's brand and its goods to end users and an intermediary seller in the best possible light is the process of promotion.
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Place: Place refers to the methods used, such as e-commerce, pop-up stores, and physical shops, for transporting a product from the maker to the consumer who purchases it.
Target market
Psychographic: Dissection according to socioeconomic status, lifestyle, and personality
Demographic: the age, gender, race, level of education, marital status, and income
Use-related / behavioral: A product's life cycle is the period of time it takes for it to find a favorable home in the market
vision =considers the future and establishes goals
mission= focuses on the present moment and makes a goal