How do design my company for sustained growth?
Look at the target customer profile when designing a business portfolio. A comprehensive profile of the customer demographics and barriers preventing the customer from buying the product you intend to bring to the market should be documented.
Customer profiling should be done systematically. Take the help of secondary research and primary survey-based data. Tabulate the profile data and average the results.
The next step is to size the market. There are two approaches to market sizing. There is a bottom-up and top-down approach. I prefer the bottom-up approach because the sizing estimates are more accurate. The bottom-up approach starting point is authentic industry statistics on sales and growth in the product segment of your choice.
Once you have the target customer profiles ready and have a good estimate of the available market size, you can begin designing your growth strategies. Let me share the growth model that I follow for developing and implementing growth strategies:
At the base sits the business strategy. The business model drives the business strategy. The business model, in turn, is driven by the marketing strategy, with the latter being implemented with the help of marketing tools.
Many people believe that growth is achieved through marketing. Marketing alone does not lead to sustained growth; it is based on business strategy, business model, and marketing strategy.
Professional certification for business growth:
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What is the best marketing strategy to attract today’s generation?What are the strategies used for growth in an organization?Should innovation be integral to a company’s culture?The post How do design my company for sustained growth? appeared first on Sudhirahluwalia, Inc.
