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STRATEGY

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STRATEGY

  1. 1. STRATEGY Influencing buying decisions And being PREPARED to be in the RPRT
  2. 2. RIGHT PLACE RIGHT TIME and with your stuff sorted!
  3. 3. STUFF? YOUR PLANS FOR BUSINESS You should know exactly who, why and how you plan to influence buying decision And where you will be when decisions are made Not knowing could reduce your profits, OR PUT YOU OUT OF BUSINESS
  4. 4. STRATEGY Influencing decisions
  5. 5. THE BUYING DECISION Why do People choose one product or service over another?
  6. 6. CHOICES Choices are made on....... •Cost •Value •Suitability
  7. 7. WHAT DOES THAT MEAN? How do I influence choice? What am I supposed to do? Is that really possible?
  8. 8. MICHAEL PORTERS GENERIC STRATEGIES COST – of production = Operational excellence DIFFERENTIATION – adding to value = Product/Service leadership FOCUS – on specific clients/area/sector etc = Customer intimacy
  9. 9. LETS LOOK AT THE OPTIONS You can produce goods or services in the most efficient manner possible – lower production costs / reliable service or product You can make your goods or services somehow different from other market offerings. Become a recognised leader in service or product leadership You can target a very specific segment of the market and know that segment and their decision influences in the most intimate and detailed of ways and know exactly what, when and how to deliver And, YES you can mix it up. But only so far.....
  10. 10. BUT ITS NOT THAT SIMPLE, RIGHT?
  11. 11. LETS LOOK AT THE COST / VALUE CHOICE OPTIONS AGAIN VALUE COST ROLLS ROYCE AUDI HYUNDAI MERCEDES TOYOTA Each achieves a unique position in the mind of the market and one particularly matched to their clients cost/value choice Each achieves a unique position in the mind of the market and one particularly matched to their clients cost/value choice
  12. 12. VALUE COST ROLLS ROYCE AUDI TOYOTA HYUNDAI MERCEDES WHAT IF?......
  13. 13. VALUE COST LOW HIGH STANDARD HIGH STANDARD THERE ARE MORE COST/VALUE STRATEGY OPTIONS AVAILABLE Cliff Bowman and David Faulkner developed Bowman's Strategy Clock
  14. 14. PERCEIVEDPRODUCT/SERVICEBENEFIT PRICE 1 2 3 4 5 6 7 8LOW PRICE LOW VALUE DIFFERENTIATION FOCUSED DIFFERENTATION HYBRID PRICE/DIFFERENTIATION LOW PRICE Increased Price/Standard Product RISKY HIGH MARGINS High Price/Low Value MONOPOLY PRICING Low value/Standard Price LOSS OF MARKET SHARE STANDARD PRICE STANDARD VALUE
  15. 15. Certain strategies are matched to specific styles of business action. DO YOU MATCH?
  16. 16. OK, SO WHAT? What do the types of strategy mean to my business? Which one is best for me?
  17. 17. SALES UNIFORMS MANUFACTURING VEHICLES DEMAND STATIONARY SUPPLY CHAIN LOCATION PEOPLE COMPETITORS PROCESSES CLIENTS MANAGEMENT LEGAL MARKETING SOCIAL BRANDING FAMILY OPERATIONS SELF RECEPTION TOOLS RECRUITMENT Etc, etc, etc... THINK ABOUT EVERYTHING TAKE CONSIDERED ACTION 9
  18. 18. If it does not add STRATEGIC STRENGTH Change it or drop it
  19. 19. STRATEGY Influencing buying decisions
  20. 20. CAPABILITIES AND COMPETENCIES
  21. 21. UNIQUE POSITION IN THE MINDS STATED STRATEGY & GOALS OPERATIONAL POSITION STRATEGIC POSITION Culture and Positioning as Determinants of Strategy: Personality and the Business Organization Dr Tony Ellson Palgrave Macmillan, 2004
  22. 22. GREINERS CURVE
  23. 23. PROJECT FRAMEWORKS

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