The following fourteen key elements that vitally affect the master strategy of a firm need redefinition and/or redesign:- 1. New Markets or Services 2. Predicting Future Demand 3. Supply Related to Demand 4. Climate of Industry 5. Crucial Factors 6. Position in Market 7. Service Abilities 8. Finance and Management 9. Combination of Services 10. Adding to Capabilities 11. Vertical [...]
Read this article to learn about the difference between BCG matrix and DP matrix. Difference between BCG Matrix and DP Matrix 1. BCG matrix considers market/industry growth rate (that is, only one variable) whereas DPM considers number of variables. 2. BCG matrix is concerned with relative competitive position (which is usually expressed as a business's market share divided by the [...]
According to AI Ries and Tack Trout, the marketing strategies of a firm are basically of four types. The types are:- 1. Offensive Strategy 2. Defensive Strategy 3. Flanking Strategy 4. Guerrilla Strategy. Type # 1. Offensive Strategy: This strategy of marketing is pursued by the firms which are leaders in the market. The leading firms are usually possessed of [...]