What should you focus on for your customers?
developing a solution and a brand that is meaningful and consistent to customers.
What should you do first: serve a single market well or exploring growth opportunities?
Emphasize serving one market well and explore growth opportunities later
• Strategy requires you to make trade-offs in competing to choose what not to do.
– You cannot be all things to all people.
– Focus on developing a solution and a brand that is meaningful and consistent to customers.
– Emphasize serving one market well and explore growth opportunities later.
5 Principle #3 of Strategic Positioning
• Strategy involves creating a “fit” among a company’s activities.
– Company activities must reinforce one another
• Wal-Mart’s low cost is supported through minimal personalized customer service and limited ambiance in its stores
• Nordstrom’s higher cost match personalized service
– Fit drives competitive advantage and sustainability
– Competitors struggle to imitate well-developed activities
• Strategy involves creating a what among a company’s activities to ensure that they reinforce one another?
a "fit"
What will having a good "fit" help create in your company?
– Fit drives competitive advantage and sustainability
– Competitors struggle to imitate well-developed activities
6 Strategic positioning
Strategic positioning should uncover new opportunities
• Strategic positions are often not obvious, and finding them requires creativity and insight.
• Entrepreneurs often discover unique positions that have been available but simply overlooked by established competitors.
Strategic positioning should uncover what?
new opportunities
Strategic positions are often not obvious, and finding them requires creativity and _______.
insight
Entrepreneurs often discover unique positions that have been available but simply __________ by established competitors.
overlooked
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