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Specialty/commodity splits in your markets
If you have attended the Simplified Strategic Planning seminar or read the book, you are probably already familiar with the concepts of specialty and commodity customers. Simply put, specialty customers are those who perceive premium value in a product or service and are willing to pay for that value, while commodity customers choose based on […]Continue reading
Dimensions of Competition
When most people are traveling on a highway, stopping for fuel or food involves an interesting decision making process. We often exit the highway and look for a restaurant or gas station that will meet our needs. Naturally, a strong brand preference may cause us to choose one exit over the other, but, without a […]Continue reading
Contingency Planning – How to Prepare for What Happens Next
Contingency planning for the next few months. In my article on contingency plans for the Covid-19 Pandemic, I outlined a threat-based approach to the pandemic impact. This week, I’d like to extend that thinking into the next few months. While this may not seem strategic to some people, huge chunks of market share will be […]Continue reading
What Strategies Work Best When the Economy Is Weak?
Strategies in recessions – What kind of strategies work best? We’ve been using Simplified Strategic Planning for over 40 years now, and we’ve seen companies fare well through recessions many times. Those that do well use strategies that are just a bit different from most of their competitors. You should consider those differences for your […]Continue reading
Contingency Plans – What To Do About Threats
In strategic planning, we sometimes look at threats that will harm your business. We avoid looking at every threat, since good strategy is about opportunities more than threats, but there are still some threats that may be worth examining. In general, these are threats that will substantially reduce your likelihood of success, but they also […]Continue reading
Protectionism and Strategy – When is Protection Good?
Protectionism with tariffs in your country is often seen as a benefit to companies, especially manufacturers. The idea is that when countries put a tariff on imports of products similar to yours, you gain an advantage in your domestic marketplace. If they place a 25% tariff upon similar goods entering your country, your foreign competitors […]Continue reading