There are various strategies which can be used by companies to gain market share and acquire new customers. Suthe ch strategies are known to give…
What is the Importance of Marketing Strategy?
Definition of Marketing Strategy Marketing Strategy can be defined as building and planning a long-term and forward-looking approach with a well defined plan to attain…
Comparative Advantage
Definition Comparative Advantage is an economic advantage which happens if one country or one economy is able to produce a good or service at a…
Market Coverage Strategy
The costs of Advertising a product or service is huge and thus organizations need to carefully craft an advertising strategy that will not only effectively…
What is Transnational Strategy and its role in Marketing ?
Businesses these days are becoming increasingly global. They are reaching out to every corner of the globe to make their presence felt and gain customers….
What is competitive parity and its role in Marketing?
Competitive parity is an interesting concept to study in Marketing. Let us first examine what competitive parity is and then move on to see what…
Core benefit proposition and its role in Marketing
Core benefit proposition is that proposition put forward by a company which talks about the main and the most important benefit that a consumer would…
Strength in SWOT analysis – Examples of strengths for SWOT analysis
Whenever you do an internal analysis or SWOT analysis of a company, you first observe the strengths of the company. The reason for observing the…
What is the Importance of strategy to a Business or an Organization?
A document which is most important to your business or to your organization is the Marketing plan. This marketing or business plan is made after…
3 objectives of competitive analysis and how it helps in strategy
As your business grows, competitive analysis becomes more and more important. Most companies conduct competitive analysis at product levels, Strategic business unit level or even…
What is competitive intelligence and its role in an Organization?
For a moment, think about a general whose nation is at war. He has to fight a battle with the enemy and win over the…
Wheel of consumer analysis – Forming marketing strategy after analysing customers
Whenever you form a marketing strategy, there are many things that you have to consider. Over a period of years, many concepts have been put…
Mintzberg’s 10 school of thoughts for Strategy formulation – School of thoughts in management
Many companies and marketing managers have dedicated staff for strategy formulation. It is a very important process for the company, as it tells the future…
Strategy
There is considerable confusion in management literature regarding the various terms used in strategic management. A recent survey by the American Management Association revealed that respondents…
8 tips for a successful marketing strategy
There are many reasons that a firm should have a marketing strategy. However, making a successful marketing strategy requires several ingredients, which have to be seasoned…
What is strategic decision making and what does it involve?
One of the previous articles wrote on the importance of Operational decisions and the role that they play in any business. This article discusses more…
Why and how your marketing strategy can fail?
One of the key factors that makes Marketing strategy successful is carrying out regular trial and errors to find out what is most successful. Till…
Difference between Strategic marketing and marketing management
Most of our readers get confused between Strategic marketing and marketing management. This article sets out to differentiate between both of them and explain to…
What is the need for Marketing strategy?
There are many reasons to define the need for marketing strategy to current businesses. Each of them is discussed below 1) The fight for market share…
Opportunity analysis
Be it individuals or corporate, opportunities are always available. As an individual, you have the opportunity to become a sports professional or a management professional….
7 key elements of Marketing strategy
There are many elements of marketing strategy. However, if we were to design marketing strategy as an environment, then we will find that the 7…
Comparative analysis and its application in business
When making a choice, one of the simplest method that any individual can use is to make comparison between at least two items, known as…
Strategic management process
The strategic management formulation and implementation methods vary with product profile, company profile, environment within and outside the organization, and various other factors. Large organizations…
Features of Strategy
The article discusses 5 important features of strategy. Strategy relates the firm to its environment, particularly the external environment in all actions whether objective setting,…
Strategy and Tactics
It is beneficial to make distinction between strategy and tactics so that managers can concentrate themselves on strategic functions rather than engaging in tactical functions….
What is SWOT analysis? SWOT matrix, Examples, Template
There are many tools and methods used to do a thorough strategic analysis of a company. One of the strongest tools, which is repeatedly used…
Strategy Implementation
Strategy Implementation is the process through which a chosen strategy is put into action. It involves the design and management of systems to achieve the…
Formulation of Strategy
Formulation of strategy is a creative and analytical process. It is a process because particular functions are performed in a sequence over the period of…
Levels of Strategy
Strategy may operate at different levels of an organization – corporate level, business level, and functional level. The strategy changes based on the levels of…
Role of Strategy
There are many roles of strategy within an organization. This article presents 4 role of strategy which is present in each strategic organization. 1) Framework…
Characteristics of Mission Statement
Organizations legitimize themselves by performing some function that is valued by society. A mission statement defines the basic reason for the existence of that organization….
Impact of Environment on organization
Every organisation has to work within a framework of certain environmental forces and there is a continuous interaction between the organisation and its environment. The…
Mission of a company – What is mission?
While the essence of vision is a forward looking view of what an organization wishes to become, mission is what an organization is and why…
Vision
Aspirations, expressed as strategic intent, should lead to an end; otherwise they would just be castles in the air. That end is the vision of…
Business mission
A strategic marketing plan starts with a clearly defined business mission. Mintzberg defines a mission as follows: “A business mission describes the organization’s basic function in…
Sustainable competitive advantage (SCA)
Sustainable competitive advantage can be best explained with a simple example. Imagine that you are one of the best in your class. You are smart,…
10 steps in strategy formulation
There are several ways strategy formulation can be done for a company. However some methods are better than the others. Here are 10 steps which guide…
Mass or Undifferentiated Marketing
For the last 10 years, everyone has started to focus on innovation: innovation of ideas, innovation of services, innovation of products, innovation to reduce prices…
4 simple steps for implementing a strategic plan
Strategic planning is most important for organizations, be it small organizations or large ones. Likewise, implementing the strategic plan is also important. Without proper implementation, you…
Image differentiation
Image differentiation A person responds differently to company and brand images. Identity comprises the ways that a company aims to identify or position itself or…
