Strategy
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Strategy
Strategy is a tool that has to be designed and implemented in the right way to achieve the desired objective or goals of the company
The strategy should be
always simple that should be implemented by the field force and convince the
customer
Points to be considered while designing strategy:
1. Market research
2. Time frame
3. Tactical plans
4. Growth plan
5. Execution &
Results
Market research:
It is very important to
study the market we are playing and the size, growth of the market. We should also
have competitive knowledge, activities and benefits over competition to understand
& build the market
Time frame:
Strategy should be always
long term with a time frame. We have to design to treat strategy as an annual
cycle rather than quarterly or half-yearly.
Long term strategy will
help us to remind the brand in the customers mind and that will yield results
Tactical plans:
Tactical plans create
the blue print for the larger strategic plan and will be led by middle level
managers / executives. This can be regional / state wise for better prospect of
the brand in that particular region.
This will help to
develop team & measure productivity
Growth Plan:
Growth plan enable us to
plan & track the growth as well as revenue of the brand. The growth plan should
attract & sustain customers to improve the sales of the brand / company
Execution &
Results:
The success of the
strategy lies on the execution as per the design. It plays a crucial role in launch
& development of the brand. We have to keep engage the task force for the
execution and follow-up for the proper execution of the strategy
The execution should be
monitored through productive meetings / strategy cycle / KPI’s to drive the
results.
The investors will look
only for results not anything else. So, it is important to note to design the
effective strategy and implementation to brings results
Example: CCD – Cafe Coffee Day
We know CCD is one of
the biggest chain cafe shop in India. Let’s understand the strategy of the cafe
shop.
1. Market research:
·
Identify
the customers - mid age groups
·
Target
market – cities and urban cities
·
Market
size – 150$ billion
·
Competitors
– Coffee bean, Starbucks, barista, costa coffee (international brands) &
all food stores are selling coffee
2. Time frame
·
To add
400 stores in the third year & to be largest chain café shop in India by the
year 2000
3. Tactical plans
·
Offers
variants & localized marketing initiatives
·
Resto kind
of café shops
·
Offers
vending machines at corporate
·
Started
light snack options
·
Informal
place to relax and have fun
·
Low cost
to variable price – offers world class cafe to the customers
4. Growth plan
·
Chain cafe
shops
·
Presence
in foreign countries – Global brand
·
High
potential Tier II & III cities
·
Offers
franchise to add income for the population as well as marker expansion
·
Co-branding
with Levi’s, Apple etc.…
5. Execution &
Results
·
Execution
was monitored well by the team through customer feedback & research program
·
Web based
ordering system and processed by electronic processing system to cut order to
delivery lead time
·
More than
1750 outlets – 54 % MS in Indian market and 68% share in people’s mind
Thanks for having a cup
of coffee with SM
A lot can happen over
coffee!
Stay tuned!
SM
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