Strategic planning for competitive advantage

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17(08/2021

Strategic planning:

Fit wants ( what i want) and resources

Market

Evolving process

It's think in a long term and must have a connection with smaller plans

Mission: What's our business?

It shouldn't be too specific

Mission it's not the product of the company

What do you get from the product and how the customer feels

Situation analysis: SWOT ANALYSIS

S T R E N G T H S

W E E K N E S S E S

Internal, you have control over

O P P O R T U N I T I E S

T H R E A T S

External, It need to be given by the market, things that you see in the market (for instance: unstable politics)

Portfolio matrix (BCG)

Market share: The company inside the market

Market growth: Only the market

Star: High market share and high market growth

Question mark: High market growth therefore highly competitive, low market share; build and work for making the product into a star

Cash cow: Your market it's ok but you can end up losing money; Harvest or hold money for other products

Dog: Low market growth, low market share; Divest, take all the resources out of this market or change

Ansoff's opportunity matrix

Market existing vs new

Product existing vs new

Market penetration: Trying to sell the same product to the same people (existing/existing)

Market development: Same product but in a new market, people, city , copy paste (existing/new)

Product development: New product , limited edition (new/existing)

Diversity: Same product but new experience to a different market

Innovation matrix:

Market and product:

Existing/existing: Easy

Adjacent/adjacent: Sell something similar/very close

New/new: New product, new market

Objectives: Where do you wanna go, very specific:

S P E C I F I C

Detailed, focused and well defined.

M E A S U R A B L E

An objective should describe an achievement or outcome which is or can be related to a percentage, a frequency, rate or number

A T T A I N A B L E

If the necessary resources are available or similar results have been achieved by others in similar circumstances.

R E L E V A N T

Relevant suggests that the objectives set are appropriate to the individual or team and their job role and function or at organisational level that they align with the overall purpose and strategy of the organisation.

T I M E- B O U N D

It is necessary to set a date or time by which the objective should have been accomplished or completed and this contributes to making objectives measurable

Marketing strategy

Who is my customer: Target market strategy

Divide the market in segments according to differents characteristics

What would make a difference with my product

You plan everything depending of the segment

How will I satisfy them: Marketing mix, 4P

Place and time: Where and when the customer interacts with the product

Product: Everyting that the customer gets from the product (Good or bad)

Promotion: Language, social media, smell, communication

Price: Everytging that the customer gives when buy the product (Time, information, etc)

Implementation, evaluation and control:

Things into action

Give responsabilities, smaller pieces, how, when or where

How are we going to make sure that what it's expected to achieve is working well and have adequate mechanisms?

BE CREATIVE IN EVERY STEP (LISTENING, SOURCES OF INSPIRATION, NEWS, KEEP UP TO DATE, LOVE WHAT YOU ARE WORKING ON)

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