marketing
Incorporating the Porter Five Model in Your Business Planning
By: Tom Cramer
For our third discussion on the topic of competition, we will turn to a relatively modern construct. The Porter Five Forces Framework was first published by Michael Porter in the Harvard Business Review in 1979. It has since gained the position of one of the most respected methods for evaluating the operating and competitive environment for many companies at the industry level. While it has its later detractors and amplifiers, as with any business concept, it is most useful for what Porter calls the line-of-business level of operations. …Developing Your Product-Service Matrix
By Tom Cramer
In our first discussion of competition, we focused on understanding that competition is a reality that comes in many forms. It is vital that you take the time to understand where your company is most vulnerable to those threats to your success. Our third item in this topic, Incorporating the Porter Five Model in Your Business Planning, provides a more strategic review of those many sources of competitive forces. We drill down here on the more traditional issue of competition. That involves looking at who is …Who Is Your Competition?
By Tom Cramer
Ask any experienced investor or any venture capitalist. The fastest way for a founder to lose their interest – and their investment – is to state they have no competition. In fact, anyone foolish enough to have such an attitude does not deserve their interest. Competition is a fact of life, and arrogance does not eliminate it. It simply makes it more deadly. Thus, this month’s focus is on your efforts to understand your own competitive environment. In our accompanying articles we first look at the process of …Neuromarketing: Positioning Your Marketing to Speak to the Old Brain***
With the world in the throes of uncertainty, many businesses are looking to science as a way to unlock new strategies to attract and retain their customers. And a quickly emerging area of study: neuromarketing – is leading the way! Defined as the in-depth analysis of how the brain influences purchasing behavior, neuromarketing could hold the key to how leading companies can differentiate their messaging to instantly speak to larger consumer audiences. According to recent research pioneered by cutting-edge neuroscientists, Christophe Morin and Patrick Renvoisé, marketers can use the …