Developing a business strategy

Developing a Business Strategy

With Pascal Maher

Alignment

REAL MARKET WANTS

& NEEDS

YOUR PRODUC

T & SERVICE OFFERIN

G

Workshop Objectives

Direction & Tools

A Good Strategic Fit

Your Role in Serving the

Market

Resources & Capabilities

Bringing Who You

Are to What You Do

Market Wants & Needs

Strategic Direction

Where are We NOW?

Where SHOULD We Be Going?

How Do We Get There?

Common Error?

Resources & Capabilities

FACILITIESPEOPLEMONEY

CONTACTSETC

STRENGTHS

THREATS

WEAKNESSES

OPPORTUNITIES

Strengths

What We Do Well NOW

What We CAN and SHOULD Build on

Common Error?

Weaknesses

Issues & Problems WE Have That We CAN & MUST Overcome

Common Error?

Opportunities

ATTRACTIVE Areas For SPECIFIC ACTION By US

Common Error?

Threats

Things that left unaddressed CAN and WILL cause the venture to FAIL

Common Error?

Threats

Let’s Test Our Understanding

Examples?

Market Wants & Needs

Where Is Your SPACE in the Market?

What WANTS & NEEDS Can You SERVE Best?

What Is Your Competition?(alternative / substitute)

Strategy Canvas

The Kano Model

MUST HAVE – or customer will go elsewhere

PERFORMANCE – vs. competitionDELIGHTER – more / better than expected

The Kano Model

HOTEL CHARACTERISTIC

HOLIDAY VISITOR

BUSINESS VSIITOR

HOW GOOD ARE WE?

LOCATION

POOL

FREE Wi-Fi

GOOD FOOD

WHAT ELSE?

Your Value Proposition

WHO are you?WHAT do you do?WHY should I care?

DIFFERENTIATE

IDENTIFY ItCOMMUNICATE ItTEST & RETEST It

Your Marketing Mix – 4 P’s

Your Product & Service Portfolio

Pricing

Know Your € Breakeven Point

Price to Survive at Least

Common Error?

Positioning

Where You Stand in the Minds of Your Customers & Prospects

Who Are THEY?

WHY?

Select A Target Market

ATTRACTIVENESS FACTORRANK Lo Med Hi MARKET A MARKET B

COMPETITIVE INTENSITY Hi Med

PRICE SENSITIVITY Hi Med

CURRENT MARKET SIZE Hi Lo

GROWTH RATE Lo Hi

PROMOTIONAL COSTS(HOW MUCH TO GET BUSINESS?)

GROSS PROFIT MARGINS

PAYMENT PERIOD (HOW LONG?)

CAPITAL INVESTMENT(NEW EQUIPMENT ETC)

Promotion

Reach That TARGET Market

Create AWARENESS

Build BRAND & IMAGE

4 P’s SYNERGY & CONSISTENCY

Digital Marketing Strategy

Who Is It Intended to REACH?

WHAT Is It Intended To TELL Them?

WHAT IS It Intended to GET THEM TO DO?