Marketing

04.6 Market and product / service positioning

04.6  Market and product / service positioning

Even with the ‘best’ service or product unless targeted effectively, the result will not be the success hoped for or felt to be deserved.

This diagram provides you with the information to not only help you target your market but also position your product / service in a more effective way.

Not often used in these processes is the perceptual / brand map – this diagram introduces you to its value.

As always, changes to the marketing environment should be continuously monitored.

links with 04.7 Strategic market planning and marketing audit

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04.7 Strategic market planning and marketing audit

04.7 Strategic market planning and marketing audit

Market planning is about creating sustainable competitive advantage.

A marketing audit is fundamental to effective market planning – if you’re unsure of the effectiveness of what you have done or uncertain of where you can go, then a marketing audit will help you understand.

A particularly useful diagram that will help you link both planning and audit is also provided.

As always, changes to the marketing environment should be continuously monitored.

links with 04.6 Market product / service positioning

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04.8 Strategic analysis

04.8  Strategic analysis

A  follow on from 04.7 Strategic market planning and marketing audit but looking at strategic analysis as a whole.

This diagram provides you with three forms of environment analysis – internal; external micro; external macro;

Each form provides you with a process to undertake effective strategic analysis.

links with 04.8.1 Understanding the competitive environment; 04.8.2 Developing competitive advantage; 04.8.3 Product / service differentiation

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04.8.1 Understanding the competitive environment

04.8.1  Understanding the competitive environment

Useful to help you understand actual as well as potential competitors (and why the latter may become entrants).

Supplier and buyer strengths are also identified as key elements.

links with 04.8 Strategic analysis; 04.8.2 Developing competitive advantage; 04.8.3 Product / service differentiation

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04.8.2 Developing competitive advantage

04.8.2  Developing competitive advantage

Once you understand your environment and competitors, you must choose which strategy to follow.

This diagram provides you with information as to which of three generic strategies you might choose.

Each strategy is described as is how you can be achieve it.

links with 04.8 Strategic analysis; 04.8.1 Understanding the competitive environment; 04.8.3 Product / service differentiation

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04.8.3 Product / service differentiation

04.8.3  Product / service differentiation

This diagram gives insights to the use of a differentiation strategy.

Why differentiation is important; how to differentiate; its key requirements and the risks involved are covered.

The variables involved are also provided.

This diagram completes the process of analysis, environment, developing advantage and strategies to be considered to complete an effective business process.

As with all effective strategies, expect this to take time – it will be worth it.

Too often too many organisations / senior managers try to ‘short cut’ the process – invariably a mistake they live to regret in the long run.

links with 04.8 Strategic analysis; 04.8.1 Understanding the competitive environment; 04.8.2 Developing competitive advantage

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