pricing
By Tom Cramer
One of the most pervasive topics in today’s discussions about marketing is that of branding. That reality makes it even more intriguing that the elements of branding remain largely misunderstood by many. It is easy, of course, to recite a definition of what is meant by the term "branding."
According to the American Marketing Association, “A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.” While that seems straightforward, it …
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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. …
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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 …
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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 …
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