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Business strategies - Coggle Diagram
Business strategies
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4P's
Product
should be differentiated from competitor’s products in terms of quality, quantity and intellectual property protection.
Price
The correct price will ensure that we can cover all costs. At the same time, the correct price can help to generate sales.
Place
the product’s channels of distribution or how it is conveyed from the producer to the end user, e.g. brick and mortar business, pop-up stalls, e-commerce.
Promotion
communicating the product attributes and the corporate image in the most favorable light to intermediary sellers and end users
Goals/ strategies
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Mission
A mission statement focuses on the present and near-future, and defines purpose.
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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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Positioning
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.