Organizations go through an inevitable progression from growth through maturity, revival, and eventually decline. The broad corporate strategy alternatives, sometimes referred to as grand strategies, are: During the organizational life cycle, managements choose between growth, stability, or retrenchment strategies to overcome deteriorating trends in performance. Just as every product or business unit must follow a business strategy to improve its competitive position, every corporation must decide its orientation towards growth by asking the following three questions:
When sales are increasing life feels great. When they head in the other direction it is not unusual to fee a little panic. So you do not get that panic feeling too often consider setting up a simple sales analysis for your products or services. It allows you to establish growth trends.
As well you get to see any warning signs early on which you can fix. Why Is It Important Analysing your sales over several years enables you to establish sales patterns. This will assist you in setting your sales budgets in the future.
It is especially important to include the analysis when you are developing your marketing plan each year. Your sales analysis will also help you identify where your strengths lie within your product or service range.
Your sales and marketing activities can then be allocated accordingly to support the products or services that represent the greatest opportunity for future profitable growth.
For example, if one product or service represents the majority of your sales you may need to allocate enough marketing and sales support to continually protect it from your competition.
You will also be able to compare your sales performance with your market. Whilst your business may be increasing in sales each year the market may be increasing at a greater rate. This may mean that one or more of your competitors are gaining share capturing more of your potential customers.
Tips When analysing your sales performance consider the following:An in-depth investigation and analysis of your competition allows you to assess your competitor's strengths and weaknesses in your marketplace and helps you to choose and implement effective strategies that will improve your competitive advantagei.
The Influence of Adaptation and Standardization BAR, Curitiba, v. 8, n. 3, art. 3, pp. , July/Sept. attheheels.com Abstract. McDonald’s marketing mix or 4Ps (product, place, promotion and price) are analyzed in this fast food service restaurant chain business management 4P case study.
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Ask people what they want, and they say, the best of everything. Ask them what they would like to spend. 8 Marketing, Strategy, and Competitive Analysis W e’ve all heard someone in the course of business say that “marketing is fluff and hype.” However, the wisest, most.
When sales are increasing life feels great. When they head in the other direction it is not unusual to fee a little panic.
So you do not get that panic feeling too often consider setting up a simple sales analysis for your products or services.