The SOSTAC Model is a planning framework used in marketing and business strategy development. It was created in the 1990s by writer and speaker PR Smith. It consists of six key stages: Situation analysis, objectives, strategy, tactics, actions, and control. Main Benefits of The Sostac Model The SOSTAC Model provides a comprehensive and structured...
Kapferer’s Brand Identity Prism is a model that helps businesses to build strong, enduring brand identities representing six key elements. The elements are: Physical appearance, personality, culture, relationship, reflection, and self-image. These six elements form a brand’s identity that reflects the core values of the brand. Main Benefits of Kapferer’s Brand Identity Prism Kapferer’s...
For companies in all industries, the perceptions of their products in their buyers’ minds carry high importance for their profitability, sustainability, and the future of their companies. When companies launch their new products, they will face different buyers that are in different engagement stages. The Product Diffusion Curve is a bell-shaped curve that segments the...
Value Disciplines Model, in the broadest terms, can be defined as a strategy framework focusing on three competitive areas. Michael Treacy and Fred Wiersema assume that a company will always succeed in what it is good at in their book Value Disciplines. The opinions of outside parties, such as the organization’s customers and suppliers, are...
Donald Hambrick and James Fredrickson created the Strategy Diamond to illuminate how different strategy parts align with one other. Main Benefits of HAMBRICK AND FREDERICKSON’S STRATEGY DIAMOND The STRATEGY DIAMOND helps you: Measure and review the effectiveness of your strategies Identify the extent of competition which businesses could fate Create a direction for the future...
4Ps of Marketing, one of the most famous concepts in marketing, is developed by Philip Kotler, one of the most famous people in marketing. According to Kotler, 4Ps are the key factors that you should consider while developing your marketing strategy and deciding your marketing mix. Those are Product, Price, Place and Promotion. Although...
Van Westendorp’s Price Sensitivity Meter, was developed by Peter Van Westendorp to identify optimal price corridor through 4 questions to be asked customers. Main Benefits of Van Westendorp’s Price Sensitivity Meter: Van Westendorp’s Price Sensitivity Meter helps you: define optimal price interval for your product, understand potential impacts of price change, determine pricing strategy....
The Market Life Cycle (MLC) is the time horizon for a market/industry/category from its appearance to the disappearance. MLC consists of 4 phases – introduction, growth, maturity, and decline. Market dynamics are different in each phase, and each phase necessitates different strategies. Therefore, businesses have two critical tasks: To determine the current phase of the...
Designing an effective portfolio strategy will be one of the key challenges for companies during the recovery period from the coronavirus crisis. Now, more than ever, companies need to assess their portfolios and optimize their investments and returns. To touch upon this subject, we analyzed BCG (Growth Share) Matrix and GE – McKinsey Matrix in...
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