Posts Tagged Strategy
Nine out of ten strategies fail to be implemented successfully. We are starting to understand the very important lesson that implementing strategy is harder than creating the right strategy from the study of success and failures of previous strategy implementations.
When we triumph over implementation it can become a blue ocean strategy – that is a competitive differentiation and while there are many tools and techniques for crafting strategy there are very few for implementing it. Rosabeth Moss Kanter put it very eloquently when she said: “Ethical standards and our ability to groom future leaders inevitably decline. That’s why execution, or “making it happen,” is so important. Execution is the un-idea; it means having the mental and organizational flexibility to put new business models into practice, even if they counter what you’re currently doing.
That ability is central to running a organization right now. So rather than chasing another new management fad, or expecting still another “magic bullet” to come along, organizations should focus on execution to effectively use the organizational tools we already have.” Read the rest of this entry »
3 cardinal rules you will need to understand when using niche marketing strategy
There are fundamentals that need to take place in order for you to benefit from niche marketing and level all competitors. The best advantage that niche marketing has to offer is cost effectiveness, literally every buck used within your marketing campaign is actually being used on positioning yourself in the eye of your target demographic.
#1 But there is more method to the madness when it comes to niche marketing strategy. Even though it may be very low cost to advertise but you will still have to understand how to compel your target market to buy. Doing so involves tailoring your product or service to what your demographic needs, then create all marketing material based on what gravitates the market towards your business. You will want to create a mindset within your niche demographic that they can’t get this type of supply and demand anywhere else.