Commercial Strategy is the plan to bring products to market and survive over time. Without a plan we can easily get sidetracked and lose business. This trading strategy is a combination of tools that allow you to market you want. These tools are summarized in the “5 Ps”: product, price, promotion, place and aftersales. Each of these areas have a single purpose: to respond promptly, efficiently and effectively to meet the needs or desires of the client.
Develop business strategy
The “5 P” take you to decide what to sell and how. To make these decisions, follow the steps or stages of “Business Strategy”. In developing this strategy, it is assumed that the broader and priority issues are defined: the business rationale, general objectives and long-term to be achieved, etc.
You know the results obtained through very specific measurements, with these measurements you can check again the diagnosis, better design, implement and measure back again. That is, this model has four stages which develop as a continuum, as follows:
Internal and external analysis (SWOT)
Always the first step in defining a strategy should be to diagnose the company and the environment to know what accounts and what you should improve.
You having clear strengths and opportunities as well as weaknesses and threats, are able to define the “commercial mix”, ie, combinations of product features, price, promotion and distribution.
At this stage the specific actions you need to take your strategy to reality are organized. Always consider making a work plan with the most urgent to start activities (licensed, search business premises, design the product packaging, etc.). For each activity set reasonable deadlines and write them down. In addition, each activity must have a goal, which is the expected result (license per day, locally installed their permits a day, container functions, etc.).
Now you should know if the business is going on the right path according to the strategy. To find out, at this stage controls are made using indicators, which will help to objectively measure whether the strategy is a contribution to your business.
Management indicators are specific data that will inform key aspects of your business. For example, if your strategy considers using a new place to attract more customers, a management indicator could be: the number of additional customers who come to the new location, compared to the number of customers who came to the old location.
When using indicators, you need to have comparison data, these can be above data (how many atendías customers in the old per month locally, for example) or comparison data with other businesses in the same field (how many clients attend on average similar local to of yours).
IN SPECIFIC DATA WOULD BE:
Indicator name: Increase customers.
Calculation formula: Difference in number of clients served per month.
Compare the number of customers served monthly at the old premises with clients served in a month at the new location, it will tell you if your strategy was appropriate.
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