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summarise what you have learnt about Business Strategies - Coggle Diagram
summarise what you have learnt about Business Strategies
Target Market / Target Users
Demographic - gender, race , education level
Psychographic - lifestyles
Usage-related / Behavioral - life cycle of product
Goals and Objectives
Make goals clear and specific
Define Measurable assets
confirming goals are Attainable
Verifying goals are Relevant
Setting up a Time-based plan
Competitive Target Analysis (S.W.O.T. Analysis)
strengths - something that you have and other don't
weaknesses - lacking features
opportunities - keeping up with the latest trend
threats - more competitors coming up
Marketing Mix (4P's of Marketing)
Place - reach the target market through the specific channel
Promotion - strategies to increase sales of products or services.
Product - quality, quantity and intellectual property protection.
Price -
Manufacturing Cost – Tooling, Material, Labour, Packaging
Promotional materials
Shipping
Commissions
Rental
Profit Margin
Product Positioning (using Strategy Canvas)
Positioning refers to how a product is perceived in the minds of customers relative to competitors.
A tool to visualize and compare how a product stacks up against competitors in the minds of consumers.
Green Strategies
Create Greener Product
Have A Recycling or Waste Reduction Programme
Be An Environment Advocate
Choose Sustainable Packaging
Create Green Campaigns