Base Strategies - Do You Know Yours?
1. Commodity Driven Strategies are typically used when your product or service is essentially the same as others on the market; in this strategy pricing is typically used to differentiate your product or service from that of the competition. Using this strategy requires that you have the lowest unit cost and low margins; profits will be earned through high volume rather then high profit margins.
2. Technology Driven Strategies focus on a companies ability to gain a temporary monopoly in the market through the development of new technology. Technology driven strategies often require huge investments in research and development. Continued success of the strategy will be dependent upon the coordination of emerging technologies with breakthrough thinking.
3. Quality Driven Strategies are driven by the assumption that a product or service is superior in quality as compared to the competition. This strategy requires that you pursue continuous improvement, that you identify quality indicators such as re-work, warranty issues etc. and that you have systems in place so as to assure that your product or service continues to maintain superiority in the marketplace.
4. Service Driven Strategies are used when a company finds itself in a position of being unable to differentiate its products or services in terms of price, technology or quality. In general this strategy focuses on the value-added elements and benefits of doing business with you, such as convenience, guarantees, delivery; value added elements are driven by your customers and there perception of what is important to them.
5. Customer Driven Strategies place a premium on going above and beyond customer expectations; the focus is on always exceeding your customers expectations. It requires a commitment to ongoing improvements to quality and service. It demands that each and every person associated with your business be trained and empowered to address customer satisfaction.
Review and consider the above, select an strategy that will best help you position your strengths and resources and your desire for success.
Related Tags: business strategies, competetive advantage, base strategies
My name is Dominick Borzomati. Since 1993 I have empowered and enlightened individuals and organizations to greatly improve their performance, expand their capabilities and enhance their ability to achieve worthwhile purposes. All of my clients achieve the outcomes they have set for themselves. I deliver RESULTS! I am a BUSINESS DEVELOPMENT COACH.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Strategic Planning Begins With a Mission Statement and a Vision Statement
A sure-fire way to start the success of your business strategic planning process is to identify th - Your Mission Statement and Vision Statement - Getting Your Message Out There
Congratulations. You have created your business mission and vision statements. They are clear, defi - Offshore Company Incorporation
An offshore corporation is the one which is incorporated in an overseas country in order to reap t - Risk Assessment and Management
Entrepreneurship is defined as set of different activities that consist the business development. - Making Money in an Economic Downturn
If you're a savvy business person, you understand that an economic downturn is precisely the time y - The Best Promotional Giveaways for Trade Shows: the Three C's
Participating in a trade show is an excellent way to give your business a high degree of exposure. - Writing a Business Plan
When it comes to writing a business plan you need to remember that it should focus on four separate - How to Register a Trademark - Employing the Services of a Trademark or Patent Lawyer
Innovations come up everyday and people are always bent on discovering something new and making it - How to Create the Perfect Survey
 DOPreserve anonymity. If the employees identities are tied to their responses, they may - Tired of That Tired Old Brochure?
"Brochures are one of the cornerstones of effective advertising, but not all brochures are equally
Most viewed articles in this category:
- How to Use Radionics to Help You Make the Right Business Decision
Remember what it was like to be in school? It may not have seemed like it at the time, but things w - Strategic Planning Before Grant Writing
People sign up for my grant writing workshops to learn to write grant proposals. I often find they h - The Balanced Scorecard
The Divide between Strategy Formulation & Strategy Execution The vast majority of the world's busin - Business Sellers - Beware of the C Corp Asset Sale
We recently completed a Merger and Acquisition engagement to sell our client to a large publicly tra - Why Business Incentives Work
In 2005 General Motors launched a consumer incentive program after a few years of sluggish sales. Fr - Helpful Hints to Implementing a Differentiation Strategy
I frequently get asked "how can I differentiate my product or service when there are a lot of compet - Change Happens - Anticipate It - Embrace It
Like everyone else, I have received countless emails with long lists extolling nostalgic virtues fro - Is Succession Planning in Your Future?
Until recently, many CEOs and companies in general had not thought much about succession planning. B - Strategic Alliances, Collaborating Through a New Window
Strategic alliances are commonplace today among organizations both large and small. The advantages a - Definite Goals And The Burning Ambition To Achieve Them: How To Be A Winner
Did you know that the vast majority of truly successful people in the world have clearly stated goal
