The market place today is really crowded, across any business. To stand out in such competition, there needs to be a unique offering. If the company assesses its present operational and strategic performance, it will realize that it falls under any of the four categories- differentiators, visionaries, doers and hopefuls. The differentiators are those who have a unique brand strategy and the right operations to go with it. Visionaries too have dreamt up the right corporate strategy, but lack the operational wherewithal to support their lofty ambitions. Doers are those executing their strategies perfectly well, but need a loftier vision. Hopefuls need help on both sides. In order to become a differentiator, the initial focus must be on building up the right strategy, before operationalizing it. For this, one needs to further develop areas where the company is already delivering its best to the customers. It must understand that providing value to its customers is more than merely about price. The brand similarly, must have an understanding on who are its customers. Social media must be used for digital marketing of the brand, so more people get to know about the brand. All of this though, must not be done operationally. Strategic pricing, product offering, digital engagement, loyalty programmes, a well- designed supply chain and an omni channel experience are a must for executing this. Constant evolution is needed so one may embrace the disruptions. Growth opportunities too need be captured, while through understanding is necessary on the competition.

Source:https://www.strategy-business.com/article/How-to-stand-out-in-a-crowded-marketplace?gko=9a505

Uploaded Date:03 October 2019