What is a business strategy and how can an experienced business strategist help you growth your business ?
A business strategy is a long-term plan that outlines how a company will achieve its goals. It considers the company's strengths, weaknesses, opportunities, and threats (SWOT analysis), as well as the competitive landscape. A good business strategy will be specific, measurable, achievable, relevant, and time-bound (SMART). A business strategist can analyze your business model to make certain it's the a profitable model and has market fit.
What is a business model?
A business model is a description of how a company creates, delivers, and captures value. It outlines the company's value proposition, customer segments, channels, key activities, resources, and partnerships. A good business model will be sustainable and scalable.
What is the difference between a business strategy and a business model?
A business strategy is a high-level plan, while a business model is a more detailed description of how the company will achieve its goals. A business strategy typically includes multiple business models, each of which is tailored to a specific market or customer segment.
Types of business strategy models
There are many different types of business strategy models, but some of the most common include:
Porter's generic strategies
This model identifies three generic strategies that companies can use to achieve competitive advantage: cost leadership, differentiation, and focus.
The Lean Startup
This model is a process for developing businesses that is based on validated learning and iterative development.
The Blue Ocean Strategy
This model argues that companies can achieve sustainable growth by creating new market space rather than competing in existing markets.
The Growth-Share Matrix
8This model helps companies to identify their products or businesses according to their market growth rate and market share.
Ansoff Matrix business strategy model
Business strategy tactics
Pricing: Companies can use pricing to differentiate their products or services, attract new customers, or increase market share..
Marketing: Companies can use marketing to create awareness of their products or services, generate leads, and close sales.
Distribution: Companies can use distribution to make their products or services available to customers.
Sales: Companies can use sales to close deals and generate revenue.
Customer Service: Companies can use customer service to build relationships with customers and improve customer satisfaction.
Ansoff Matrix business strategy model
Business strategy examples
Here are some examples of how different companies have used business strategies to achieve success
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Amazon: Amazon uses a low-cost leadership strategy to offer its products at lower prices than its competitors.
Netflix: Netflix uses a differentiation strategy to offer a wide variety of streaming content that is not available on other platforms..
Tesla: Tesla uses a focus strategy to target the luxury electric vehicle market.
Apple: Apple uses a differentiation strategy to offer high-quality products with a unique design.
Starbucks: Starbucks uses a focus strategy to target the coffee market.
