In the last year we’ve seen various price promises from the leading supermarkets in the UK – Tesco, Asda and Sainsburys and price competition intensifies as national austerity restricts spending. The idea is simple. The supermarket agrees to reimburse the buyer for any difference in the price of his or her shopping that would have [...]
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Continue ReadingA key success factor (KSF) for a trade, profession or industry is something that a business must do to be successful. It is a necessary condition for success. The Difference Between Key Success Factors, Key Factors Of Difference & Critical Success Factors There are a number of similar sounding phrases that mean different things. To [...]
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Continue ReadingCritical Success Factors (CSF) are unique to implementing your particular strategy. Key success factors will be common across many of the businesses within an industry and (hopefully) each business has identified a small number of key factors of difference to differentiate itself away from the competition. The combination of key success factors and key factors [...]
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Continue ReadingBlockbuster, the DVD rental chain went into administration in January 2013 as demand shrank under pressures from online video streaming services like NetFlix and Amazon’s LoveFilm and the increased entertainment options provided by the many channels available on satellite TV. It was announced just before the quarterly rents were due for payment in late March [...]
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Continue ReadingThere are two fundamental questions that business owners and managers ask all over the world: Why are some companies and businesses more profitable than others? It’s a great starting point for the second, and even more important question. How can we this business or company more profitable? Profit Or Sales We know some people focus [...]
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Continue ReadingShould every business have a clear vision, no matter what the size? In my opinion, yes. There’s a danger of thinking that mission statements and vision statements belong to the work of senior managers in big businesses and only big businesses. While it’s true that big businesses have a much harder job of communicating a [...]
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Continue ReadingThis article looks at prices wars and in particular, how to survive a price war if you find yourself being dragged into one by competitive rivalry by undifferentiated competitors or a particularly aggressive strategy by one competitor who may be differentiated but whose actions damage the entire market. My Experience Of Price Wars I have [...]
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Continue ReadingI look looking for products that are new, different and innovative so when I read about Sex Cereal, I knew it had to feature in my differentiation examples. Sex Cereal is promoted as the world’s most Passionate Cereal and the first gender-based wholefood and it’s promotional slogan is “big life living, fuel your fire”. It [...]
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Continue ReadingI want to take this opportunity to explain why I recommend Profitable Growth Strategies as the business growth training for small business owners. The Business Problem I Saw Ever since I was a trainee accountant in the early 1980s, I’ve been concerned at the struggle many small business owners have to earn an income that [...]
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Continue ReadingOne of the very best known strategy models is the Five Forces Of Industry Profitability that has been developed and promoted by Professor Michael Porter. Background To The Five Forces Analysis Model The Five Forces Analysis model was first introduced in the Harvard Business Review in 1979 in an article by Michael Porter called “How [...]
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