In this article, we will explain; What BCG Matrix is, How to apply it, Recommendations for better implementation. What is BCG (Growth Share) Matrix? BCG Matrix, also known as Growth-Share Matrix, is a framework that helps companies find the optimal way to prioritize either their products or business units. BCG Matrix analyzes the portfolio of...
The decrease in consumption due to Covid-19 has immediate impacts on many sectors. Worse, these acute impacts will have aftershocks. So, how can companies minimize the long-term negative impacts of Covid-19? What should they do today to be better off tomorrow? Two reports summarized below can help you determine your firm’s investment and spending strategy....
What is Segmentation and Why is It Important? Segmentation is the process of grouping customers that display similar behavior and characteristics in a defined market. Brands or companies should determine the target segment(s) for which they will design products and services. This approach has two major advantages: By focusing on investment, they prevent untargeted use...
What is a Customer Journey? The customer journey is the name given to all the customers’ experiences in interacting with your brand. The customer journey is not just about purchasing your product/service. It lists all the steps that customers take when they interact with your brand. Getting aware of your brand’s existence, interacting with your...
In our previous articles, we emphasized the importance of rich customer insights and mentioned some tools which are used to achieve them: Six Paths Framework, Three Tiers of Non-customers, and Customer Journey. In all these tools, the key point is putting yourself in your customers’ shoes and thinking from their perspective. These remind us of...
The Six Paths Framework of The Blue Ocean Strategy In our previous articles, we emphasized the importance of rich customer insights to create a new market. Rich customer insights allow us to make competition irrelevant by answering 4 questions: Which factors that the industry has long competed on should be eliminated? Which factor should be...
Tools That Can Be Used to Create New Markets with the Blue Ocean Strategy In our previous article, we touched upon the benefit, description, and application of the Blue Ocean Strategy. In this article, we will mention some of the tools that can be used to create new markets: “Strategy Canvas”, “Four Actions Framework”, “ERRC...
Why Does a Business need to Apply The Blue Ocean Strategy? It allows a company to, Make competition irrelevant by creating a new market. Capture the demand in this new market. Break value-cost tradeoff. A Detailed Description of the Blue Ocean Strategy Blue Ocean Strategy divides the market into two categories: Red Ocean and Blue...
What is TOWS Analysis? The TOWS Analysis or TOWS Matrix is a variant of the SWOT Analysis model, which investigates and analyzes Strengths, Weaknesses, Opportunities, and Threats that a business has to confront. The primary aim of the TOWS Matrix is to help a decision-maker for improving strategic options from an internal-external analysis. It is...
Primary Benefits of Porter’s Five Forces Understand the industry structure in which your company operates Determine a more profitable and competitive positioning for your company Explanation of Porter’s Five Forces Analyzes industry over 5 forces: The threat of new entrants. Bargaining power of suppliers. Bargaining power of buyers. The threat of substitute products or services....
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