How to effectively identify your target market

Customer Analysis Customer analysis is undertaken for the management of the business to understand its current and future customers. This can be carried out by knowing and predicting customer behavior such as information search and methods of product evaluation and so on. Thereby this provides your business with better opportunity to formulate marketing strategies that… Continue reading How to effectively identify your target market

Market and Environmental Analysis: Do it right or fade away in agony “You’re out”

The result of the external environmental analysis is the information that is presented in a form of a detailed and a relevant business study faced by companies around the world. These types of information is required for business decision making and more preferred for business strategy formulation. The external environmental factor could affect any type… Continue reading Market and Environmental Analysis: Do it right or fade away in agony “You’re out”

Strategy formulation for your business: Lead all the way or be the follower

Strategic planning will apply to all levels of your business. For large multi-product organizations there are at least 3 levels of strategy. The corporate level strategy This strategy is the responsibility of the top level management of your business. For large businesses with multiple business units the emphasis of the corporate strategy involves decisions about… Continue reading Strategy formulation for your business: Lead all the way or be the follower