Business Today and Tomorrow

What is a brand? Simply put, your brand is defined by a customer’s overall perception of your business. A successful brand has to be  consistent in communication and experience , across many applications: Environment (storefront or office) Print, signage, packaging Website & online advertising Content marketing & social media Sales & customer service Now, brand building being simple? The truth is: it doesn’t happen overnight… or even in a few months. Building a brand is definitely a process. However, the ongoing effort will result in establishing long-term relationships with your customers. This can lead to a steady increase in sales, more projects, word-of-mouth referrals, and advocacy for your products or services. I simplified the path for a brand building process below, to help your company or personal brand gain a more loyal following. Are you wondering where to start? Use these steps as g...

New companies often face unique challenges. Specific strategies, such as identifying product strengths, adjusting pricing, or acquiring another business, have historically been used to get a small enterprise off the ground. Understanding these strategies, and skillfully implementing them, can help entrepreneurs achieve success. Growth Strategy A growth strategy entails introducing new products or adding new features to existing products. Sometimes, a small company may be forced to modify or increase its product line to keep up with competitors. Otherwise, customers may start using the new technology of a competitive company. For example, cell phone companies are constantly adding new features or discovering new technology. Cell phone companies that do not keep up with consumer demand will not stay in business very long. A small company may also adopt a growth strategy by finding a new market for its products. Sometimes, companies find new markets for their products b...

Strategy theory Business strategy A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-term business planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer). A business strategy is concerned with major resource issues e.g. raising the finance to build a new factory or plant. Strategies are also concerned with deciding on what products to allocate major resources to - for example when Coca-Cola launched Pooh Roo Juice in this country. Strategies are concerned with the scope of a business' activities i.e. what and where they produce. For example, BIC's scope is focused on three main product areas - lighters, pens, and razors, and they have developed superfactories in key geographical locations to produce these items. Two main categories of strategies can be identified: 1. Generic (general) strategies, and 2. Competitive stra...