This strategy relies on consumers’ trust in the brand’s expertise. For example, a company respected for its car audio products might start selling home theater systems. How to implement a successful brand extension Validate demand through market research Align the extension with your core brand ...
Journal of Business StrategyCollier, D. 1984. How to Implement Strategic Plans. The Journal of Business Strategy. 4 (3): 92 - 96.Collier, D. (1984): How to Implement Strategic Plans, in: The Journal of Business Strategies 5(1984)4, S. 92-96...
Business process management is, therefore, continuously playing an essential role in a company’s entire business strategy, and aiming to generate greater business value. Due to the complexity of managing tasks and processes, companies incorporatebusiness process management softwareto automate business proc...
Increase conversions and loyalty with personalized marketing. Here are the three steps to implement now, and examples of successful brands.
While marketing strategies and marketing plans both play a crucial part in your business’s success, there are several important distinctions between them to keep in mind. The main difference between the two concepts is that a marketing strategy is a long-term idea, while a marketing plan typica...
Once you implement your business strategy, monitor its progress by using key performance indicators (KPIs). These indicators provide measurable benchmarks for your business and ensure that your strategy performs as it should. KPIs can include deals closed, revenue growth, or customer retention rates...
On the surface, “customer-centric” may seem like a pretty obvious business strategy. Of course, you want your customers to have a positive experience. Of course, you care about their needs and want to make and sell things that make them happy, which of course leads to more business, mo...
Not every successful business launches with a formal business plan, but many founders find value in the process. When you make a business plan, you get to take time to step back, research your idea and the market you’re looking to enter, and understand the scope and the strategy behind ...
4. Implement your plan Now that you’ve created your strategic plan it’s time to act. In fact, the first step of implementation is creating a strategic action plan. Your action plan will outline the specific tactics you’ll use to execute your strategic plan. ...
In highly uncertain business environments, it is crucial to have a robust strategy in place. Find out how you can better manage uncertainty in business.