SBA
Systematic evaluation of internal and external environment
Strategic Business Analysis
Importance of SBA 1
Anticipates risks and opportunities
Importance of SBA 2.
Helps allocate resources efficiently
Importance of SBA 3.
Aligns business strategy with environment
Key tools in SBA
SWOT, PESTLE, Porter's Five Forces
SWOT meaning
Strengths, Weaknesses, Opportunities, Threats
PESTLE meaning
Political, Economic, Social, Technology, Legal, Environment
Industry competition model
Porter's Five Forces
A framework for analyzing internal and external factors affecting an organization
SWOT
Identifies external macro-environment factors influencing an organization
PESTLE
Analyzes industry competition and profitability
Porter's Five Forces
Goals guiding the organization
Corporate Objectives
Why we exist (Google: Organized world's Information)
Mission
What aim to be (Google: Provide access to information for everyone)
Vision
Measurable, Achievable, Relevant, Time bound
Smart Objectives
Long term plan to achieve objectives
Strategy
Levels of Strategy
Corporate, Business, Functional
The strategic practice of managing all the company’s products or services as a collective portfolio rather than separately.
Product Portfolio Management
The group of related products offered by a business under one brand
Product Line
targets a company sets to guide its growth, direction, and success.
Business Goals
a business uses and allocates strategically to support its operations, achieve goals, and maximize performance
Resources
process of identifying, assessing, and managing potential threats that could harm business
Minimize Risks
process of increasing a business’s earnings by boosting sales, managing costs, and making smart reinvestments
Maximize Profit
the ways businesses determine the selling price of their products or services.
Pricing Method and Strategies
charging for similar products or services.
Competitive Pricing
value of the product or service to the customer
Value Based Pricing
high initial price and gradually lower it over time as the product matures
Price Skimming
low initial price to quickly attract customers
Penetration Pricing
the product or service is high-quality
Premium Pricing
Keep prices consistently low by minimizing production and marketing costs
Economy Pricing
Adjust prices in real-time based on market demand
Dynamic Pricing
Selling two or more products or services together for a price lower
Bundle Pricing
Offering a basic version of a service for free
Freemium
Pricing items just below a round number (e.g., $9.99 instead of $10.00)
Psychological Pricing
refers to the combination of tools marketers use to communicate with customers
Promotional Mix
The manufacturer promotes the product to wholesalers, wholesalers promote to retailers, and retailers promote to consumers.
Push Strategy
The goal is to motivate consumers to actively seek out the product.
Pull Strategy