Trans4mind Home Page
Free Life Assessment Results

Reveal your true self!

Trans4mind has developed a confidential and very helpful Life Assessment tool. Sign up now and discover the key challenges you face, with a personalized training plan to completely transform your life...
 

Explore Article Library


If One Does Not Do Any Planning, One Is Planning To Fail

MARKETING STRATEGIES

An enterprise may adopt different marketing strategies dependent on the size and position of the business in its industry. The marketing strategy adopted may prove crucial to generate sales. These marketing strategies are often the result of competitive forces. The different techniques to tackle marketing opponents, or defending one's turf against competitors, are dealt with.

• Market challengers

In order to expand market share it will often be necessary to compete against other businesses delivering similar products and services. Such enterprises may choose to undertake one of the following;


  • Challenge the market leader by capitalising on unserved or poorly served markets;

  • challenge enterprises of a similar size who are performing poorly and who are underfinanced; and

  • challenge smaller enterprises who are poor performers and underfinanced.


Before competitors are challenged, some groundwork is required on;


  • Who the competition is;

  • the financial standing of competition;

  • the market share of competitors;

  • the goals and assumptions;

  • strengths and weaknesses;

  • probable reactions from competitors.


Once that is taken care of and enough information assimilated, an attack strategy is to be chosen. You will notice that these strategies carry a military flavour, as they have been adopted by marketing strategists. The frontal attack is the first option an enterprise may exercise. In doing this, the opponent's strengths are attacked rather than weaknesses. In the end, the business with the most strength and endurance will win. To be successful, some form of strength advantage over the competition is required. This may be price or value. A second option may be the flank attack. In military parlance this involves feinting an attack on strong defences to tie up the defender whilst launching an attack from the side or rear. Two flanking options are geographical and segmentation. Geographic means doing business in areas where competition performs poorly. Segmentation is uncovering market needs not served by competition.

A bypass attack will be directed at easier markets to broaden the resource base. The business may opt to diversify into unrelated products or go for new technology. Instead of imitation, the challenger will develop new technology. When superiority is achieved, the ensueing battle will be on its own territory. Should your resources be limited, the guerilla strategy may be indicated. To do this small, intermittent probes are launched with the intention of harassing and demoralising the opposition. The tactics employed may consist of price cuts, hiring the opposition's best staff, intense bursts of advertising and legal action.

• Defensive strategies

It may happen that your enterprise finds itself on the receiving end of competitive thrusts by the opposition. In such scenarios one needs a number of options to defy competitors.

Position defence is the most difficult alternative. The danger is that the business engaged in this form of defence will rely on existing products or business methods. A flanking defensive strategy is one where an enterprise will ensure that competitors will not pursue flank attack strategies. To do this, the business should ensure that it does not neglect any segments of its market or any geographical areas. Once a competitor gains a foothold in one of these, your business may be in jeopardy.

Businesses may opt for a preemptive defence. This is carried out when the business takes action steps before a competitor launches an attack. Some enterprises will execute such a strategy when they sense a competitor growing too big for comfort. Strategies to keep the other parties on the defence will be actively pursued. Some enterprises will initiate severe price cuts to force other parties to imitate. Obviously such moves are difficult to mirror should one not be in a position to weather the effect on cash flow.

CONCLUSION

Strategic planning is not a panacea for ills. It will not automatically ensure success. Sometimes one will make mistakes, assume incorrectly and make incorrect decisions stemming from this. The alternative, not to undertake any strategic planning, is even more dangerous. If one does not do any planning, one is planning to fail.

The International Business Foundation

Providing outstanding leadership in management education has been a personal mission for several decades. The International Business Foundation was founded in 1989 with the express purpose of bringing together intercontinental leadership, knowledge and skills.

Whoever we are and wherever we live, a student starting out or a high ranking executive. Whether our primary need is a qualification and or Business and leadership skills. We make it our business to help you.



From our extensive site, you'll find good info on many topics using this search:

Support your personal development with these popular and effective hypnosis downloads...

  • Public Speaking Fear ~ Banish speaking anxiety and nerves with hypnosis.
  • Motivate Yourself to Exercise ~ Build a powerful exercise habit that you can't break.
  • Get Rid of Fear & Anxiety ~ Stop worry and apprehension wrecking your life.
  • Self Esteem ~ Break the negative trance of low self esteem and give yourself a chance in life.
  • Create Your Own Reality ~ Use the power of your unconscious mind to transform your life.
  • Deeper Self Respect ~ Use hypnosis to connect with your true inner worth.
  • Detach From Fear ~ Tune out nervousness and anxiety with hypnosis.
  • Improving Concentration and Focus ~ Learn how to discipline, direct and command your mind to improve your performance.
  • Exercise Motivation ~ Give you powerful keys to getting back on track with your exercise - and staying there.
  • Overcoming Shyness ~ Provides an invisible security blanket allowing you to develop social ease and overcome shyness.
  • Quick Confidence Booster ~ An audio hypnosis session that's specifically designed to get you (quickly!) back on track.
  • Stop Negative Thoughts ~ Learn powerful hypnotic techniques to stop negative thoughts before they start.
  • Overcoming Procrastination ~ Let hypnosis help you get on with what you need to do, when you need to do it. Let nothing hold you back.
  • Think Thin ~ Use hypnosis to re-train your brain and lose weight naturally... that's how to get and stay slim.
  • Fall Asleep Fast ~ Relearn how to fall asleep fast and enjoy a good night's sleep.
  • The Next Level ~ Designed to radically boost your performance in any field. It's based on a technique used by top athletes and other successful people to help them make a big stride forward.
This is our selection of favorites, but there's a session for every need! Choose from over 800 Hypnosis Downloads...
Search now on an issue that interests or concerns you...
 

View all the Hypnosis Downloads here

Copyright © 1997-2017 Trans4mind Ltd