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Strategic Planning Competitive Positioning What sets your product, service and company apart from your competitors? What value do you provide and how is it different from the alternatives?
Size, competitors, stage of growth Customer segments: Strengths, weaknesses, opportunities and threats in the landscape Method for delivering value: How you deliver value to your market at the highest level [Note: One of the key elements that many small to mid-size companies overlook is how they provide value at the highest level.
There are three essential methods for delivering value: Here is a hypothetical example of each type of value. Herringer focuses on operational excellence so they can continually offer the lowest price in the market. For example, they just patented a new machine that dramatically lowers their manufacturing costs.
Orange is completely dedicated to innovation and quality. They know what their competitors are doing and are completely focused on staying one step ahead in order to capture a greater share of their market.
These companies have a complete understanding of how they deliver value to their market. Another key factor in your brand positioning is your competition.
Sure, you need to put your stake in the ground and claim your turf. But is it turf that you can own? Can you realistically beat your competition to own it?
Rather than leaving your market positioning to chance, establish a strategy. This is typically easier for consumer product lines than for B2B companies, because positioning a single product against three to five competitors is a simpler task than positioning a mid-size B2B company with numerous offerings in numerous markets.
Owning a strong position in the market is challenging for most small- to mid-size companies, but you have a better chance of achieving it if you clearly define a strategy and build your brand around it.
Do you see your company in any of these scenarios? Best Case Neutral Case Worst Case You provide a one-of-a-kind offering that your market needs and wants; you have strong differentiation from your competitors.
And you continually deliver on it — perception is reality — so you continue to win mindshare in your market, defending your turf and influencing your market. Your offering is somewhat different from — and better than — those of your competitors, and you communicate that difference though probably not as consistently as you should.
You know that you could make a greater impact on your market with stronger positioning. Your market sees little difference between you and your competitors, and your name is not recognized.
Because of this, you have to spend precious budget and time educating the market at each touch point. You have to fight long and hard for every sale. Access detailed step-by-step plans in our new marketing website. Jack Trout and Al Ries defined the concept years ago in their landmark book Positioning: The Battle for Your Mind.
While the concept is simple — to be known for a single thing in the mind of the customer — the road to achieve it can be complex. Determine whether your market is in the introductory, growth, mature, or declining stage of its life.
Segment your market Understand the problems that your market faces. Talk with prospects and customers, or conduct research if you have the time, budget and opportunity. By grouping prospects into segments or personas, you can efficiently market to each group. Define how you deliver value At the highest level, there are three core types of value that a company can deliver: Evaluate your competition List your competitors.
Rate yourself and your direct competitors based on operational efficiency priceproduct leadership and customer intimacy.
Stake a position Identify areas where your competition is vulnerable. Make a decision on how to position your offering or company. Select the mindshare you want to own, and record your strategy Review the components of your market and evaluate what you want to be known for in the future.
After Competitive Positioning Once you have a competitive positioning strategy, develop a brand strategy to help you communicate your positioning and solidify your value every time you touch your market.
Together, these two strategies are the essential building blocks for your business.For Coca -Cola Company besides producing the Coca -Cola drink with all its types such like; Light, Classic, Original, Zero, it produces other soft drinks as well as beverages such in the vein of Fanta, Sprite, Juice drinks, Iced tea in addition to coffee, as well as bottled water.
The Coca‑Cola Company has always been a creator of refreshing beverage brands. Today, our expansive portfolio includes more than brands, including sparkling beverages, juices and juice drinks, coffee, tea, sports drinks, water, value‑added dairy, energy and enhanced hydration drinks.
Exploring Strategic Risk executives around the world say Director Enterprise Risk Management, The Coca-Cola Company. “The speed of risks is so much greater now, and as a result you have to be more prepared – faster to that directly impacts the company’s identified strategic.
Jun 26, · Strategic alternatives are strategies that a business develops to set the direction for which human and material resources will be applied for greater chance of achieving selected goals.
A company. Coca-Cola Company, he inherited a host of troubles. Soda sales had slumped in the providing vision and strategic direction for the company, but his hand-picked successor, Douglas Ivester, proved incapable of keeping Coke on the path of 6 CHAPTER 8 Strategy Formulation and Implementation Strategy Strategy.
The Coca-Cola Company has created and achieved a strategic lock-in such that it has achieved dominance in the industry. For instance many people will think of 'Coke' once they think of using or taking a soft drink.