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IN A RECESSION: OPPORTUNITY |
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Following on from last week here's a useful tool to look at your business: In the first column you put the response that your customer is displaying to the recession eg seeking more value for their money and buying larger sized competitor offering. In the second column you write the threat arising from that response eg losing customers to competitor. In the third column you write the opportunity presented by that response or threat eg we produce a value for money range delivering more product per item. In the fourth column you write the actions you plan to undertake eg review our offer, review our production costs, negotiate with suppliers, produce a value range.
The aim is to try to generate a number of responses and thus threats, opportunities and actions. It's a very simple but productive technique. Call me if you need my help with it.
Cheers! |
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