Showing posts from December, 2014

For Better Strategies - Ask Why?

There is a process for developing a successful Marketing Strategy. The steps outlined below describe that process: I.State the Mission - This is a description of the purpose of the quest. For example Coca Cola’s Mission is to: refresh the world, inspire optimism, to create value and make a difference. II.State the Vision - This is a description of how value is created for all who participate in the quest or a business. For businesses, the Vision describes how value will be created for the customers, the collaborators and the company. III.State the Objective – This is a description of the desired outcome of the strategy. The objective must have a quantifiable and a timing element.An example would be “to increase sales 5% in 6 months”. IV.Situation Analysis – This is a process to understand the current environment in which the strategy must be deployed. The situation analysis should consider: the competition, the state of the economy, the strengths and weaknesses of the group setting the ob…