Sunday, January 11, 2015

Strategy

There are different types and levels of strategy. Marketing agencies, brand consultancies and general business consultancies operate in different ways regarding strategy. Here are some of the different types and levels of strategy:
  • Business model strategy
  • Competitive strategy
  • Brand strategy
  • Marketing strategy and planning
  • Communications strategy and planning
  • Media strategy and planning

At the highest levels of strategy, one thinks about category structure, entry barriers, exit barriers, core competencies, sustainable competitive advantages, economic and organization structures, scalability, leverage, network effects, investment rates and general competitive strategy.

At the next highest level of strategy, one thinks about brand strategy, product strategy, sales strategy, service strategy, distribution strategy and pricing strategy.  

Within brand strategy, one thinks about brand essence, brand archetype, brand personality, competitive frame of reference, sources of relevant differentiation and other components of brand positioning.

Further down the strategy hierarchy, one thinks about marketing objectives and strategies including target customers, product line breadth and depth, product functions and features, price points, specific distribution channels, marketing spending levels, marketing mix and marketing channels and approaches.

Next, one looks at communications strategy including key messages, specific campaigns and types of media used to communicate.

Finally, one focuses on the specific media used, how they are used, budget allocations for each, and timing, i.e. media strategy and planning.

When you ask for strategy help, it is important that you are thinking about it in the same way that the agency or consultancy you are hiring approaches it. That is, hire the appropriate partner based on the type of strategy with which you need help.

I wish you great success in crafting your business, brand and marketing strategies.


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