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...
The 7S framework, developed by Richard A. D’Aveni, is a set of approaches to direct an organization in high-speed or hypercompetitive markets. Main Benefits of D’Aveni’s 7S Framework D’Aveni’s 7S framework helps you: put disruption in the center of your business strategy, compete in the market in an unexpected manner, force your organization out...
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....
RFM (Recency, frequency, and monetary value) is an analysis methodology enabling companies to segment their customers based on past purchases. Main Benefits of RFM Analysis & Segmentation RFM helps you: tailor your strategy based on customers’ past purchasing behavior transform occasional buyers into regular ones calculate customer lifetime value (CLTV, LTV), and identify most...
The ADL Matrix (or Strategic Condition Matrix), developed by Arthur D. Little, is a strategy tool that will clarify your thoughts while shaping portfolio strategy. Main Benefits of the ADL Matrix The ADL Matrix helps you: categorize your products based on their potential to generate profit decide which distinctive strategy to pursue for each...
The CAGE Distance Framework -denoting cultural, administrative, geographic, and economic differences among countries- is a tool that helps businesses adjust their strategies to new markets/locations. Main Benefits of the CAGE Distance Framework Making it possible to examine the practical aspects of entering a new market, CAGE Distance Framework helps you: Determine which elements* of...
Four Corners Model is a strategic planning tool developed by Michael Porter to craft your competitive strategy. Main Benefits of Four Corners Model To understand a competitor’s strategy by assessing its motivations and actions. To foresee the possible future strategies that might be adopted by the competitor. To assess your company’s competitive strategy and...
The Five Product Levels, another Kotler-developed framework, analyzes a product on 5 different levels of customer needs and wants. Benefits of The Five Product Levels Serves a canvas to analyze products in a market Provides steps to guide your product development and differentiation efforts Helps you assess your product’s frame of reference and point...
What is SOAR Analysis? SOAR Analysis (Strengths, Opportunities, Aspirations, Results) is an action-oriented strategic planning tool which focuses on strengths and opportunities to reach aspiration defined by solid results. What are the main benefits of SOAR Analysis? It focuses on strengths rather than putting excessive effort to discuss weaknesses. It does not only picture aspiration...
What is the Break-Even Analysis? Break-Even Analysis (BEA) is a simple analytical tool that helps you calculate the number of products to be sold to cover the total cost, i.e., the sum of variable and fixed costs. Benefits of Applying the Break-Even Analysis This simple tool should be used at the beginning of any economic...
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