Business Strategy Services
Why does a marketing consultancy care about business strategy? Because if your business isn’t clear on whose needs you’re serving and why, you won’t succeed.
Successful marketing is much more than just promoting a product or service once it’s been developed.
To be successful, you need to understand why your product or service is needed (or what problem it solves), for whom and what they’re willing to pay for it.
And you need to do this before you spend time and money putting it in front of anyone.
This is why marketing textbooks introduce a marketing framework that includes the following focus areas:
Product: What is the product or service you’re selling?
Place: Where is it going to be offered or sold? Are these the same places your customers will be looking and shopping?
Package: How is it going to be presented to your potential customers?
Price: How are you going to price your product or service? Does this align with what your customers are willing to pay?
Promotion: How are you going to draw attention to your product or service?
Position: How is your product or service placed in the market? Is it a luxury offering, or an everyday commodity? Does this feed the needs of your intended customers?
People: Many textbooks talk about the people you use internally to build your business. This is very important, but we recommend you focus on really understanding your potential customers. Do they really want or need what you have to offer?
We believe that all of these points need to be considered to make your business successful. No marketing strategy will work without these elements aligning to your business model and audience needs.
Changing one of these areas can also fundamentally change your business model. It’s very important to continually review and adapt your marketing approach to align with any business model changes.