Monday, 1 April 2013

Development of an Effective Business Strategy

A marketing strategy should not improvise on the opinions of leaders, but the value of the company and its benefits concurrence. But how to achieve an effective Business Strategy?

I do not ascend what strategies can be planned or designed here but how do we build a process leading to a strategic marketing plan.

First, we must analyze the internal strengths of the company. Products, the U.S., profit margins, production capacity, service, distribution network, etc.. It is important to know the exact value of EVERY elements and not rely solely on the general impression.

To do this, you need a good system of internal marketing information or do business with contractors who specialize in this field. In addition, the S.I.M. must provide all information about the 5 P to ascertain empirically the strengths and weaknesses of the company. By 5 percent, we talk about price, product, place, promotion and sales staff and service.

Once we know, we are ready to look at the external environments. We are talking about micro and macro environment. It is not important to know the difference between the two, but to know the relevance to this analysis exercise. Macroenvironment level, we are talking about the political, social, economic, ecological, cultural, technological, and demographic. For the micro environment, we must look at everything that is important outside the company, but that influence directly. Competition, customers and markets as such.

So now that we know the company is entirely based on facts and reality and our knowledge of the external environment, we can better validate the opportunities as well as external threats. Some strategists are masters in the art of the analysis of the most subtle and difficult at the same time. The analysis should go as far as to validate the impact of these business opportunities and market threats.

Now this is where the fun begins. Must develop the strategy development meeting our mission, our goals and our strategic position ideal. Must have actual knowledge of consumer behavior to validate an effective strategy in terms of objectives, execution and timing.
We must make a different but statégie inhérante the positioning strategy for each element of the marketing mix of the company. There are several options, and each element must demonstrate a deep reflection. Several analyzes are needed, particularly in comparative evaluations more commonly known as "benchmarking".
Although comparative evaluations are necessary and important, they should not show you a model to follow but a way to distinguish its you from your competitors.

Your strategies must be structured and effective. Do not believe those who will give you the idea of ​​the century and the dollars will flow with a flick of the wand. Strategies must be deployed on multiple levels and have been testing and previous research. It is much easier and cheaper to tests and focus groups that launch energy and money before you even know how our target market will react.

1 comment:

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