Saturday, 28 May 2011

What is Strategy? Professor Michael Porter Explains - We Comment

The fundamental truth behind Marketing.

This is so good!

I often ask organisations:

What is it that makes you different and better from your competitors, in ways that add value to and are valued by your customers, that can't be easily copied?

99% of the time they can't answer! - or say something like 'We are the market leader'...'We have been in business for 50 years'...'We have a great brand.'

None of these responses answer the question. Remember past success is no guarantee of future performance...ask any banker!

Strategy is all about answering this question - Creating your unique position in the market - that anticipates, identifies and satisfies customers wants and needs better than anyone else?

That is a Strategy!

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