Qualitative analysis vs Quantitative analysis At the time when a difficult business decision must be made or when the company requires some market insights to adapt its marketing strategies, qualitative research comes in handy. In order to first get things clear, we need to go through what qualitative research is and how it differs from…
John Mullins is an entrepreneur and a professor at London Business School and in his published book “The New Business Road Test” he talks about the Seven Domains Model. The model was specially created for entrepreneurs wanting to start their own business for scratch as well as for established companies that want to expand their…
What is Game Theory? Game Theory is principles on optimal decision-making in a strategic setting among rational players. Game Theory looks into how competing groups of people interact according to their own preferences and strategies available and further examines how these strategies can impact the end result. Although it might sound that Game Theory is…
This is a model you have probably not heard much about. Yet when trying to understand how people make their buying decisions, Simonson and Rosen’s Influence Mix is a useful tool to have in mind. As more information becomes available online, consumer’s purchasing decisions are mainly influenced by social media and other online material. Nowadays,…
One of the most widely used models of Philip Kotler in the field of strategic planning is Kotler’s Pricing Strategies. The framework examines the different pricing strategies and discusses the importance of understanding the customer’s value perceptions as well as other internal and external factors while setting prices. What is a price? First of all,…
Maintaining the balance between current performance and future innovation is much harder than it sounds. Often, businesses are so much preoccupied about what is going on at the present that they lose sight of the future and are quickly taken over by competitors. Equally, sometimes businesses are so keen on finding the next innovation that…
Developed by Marvin Weisbord, the Weisbord’s Six-Box Model is used to assess a company’s functioning and evaluate its performance. The main purpose of this model is to uncover issues that might have been missed or overlooked by top management. The model takes a comprehensive, holistic approach for evaluating business performance by examining six research areas…
What is Competitive Intelligence? Competitive Intelligence refers to all the information collected and analyzed by a company in regards to the industry and the business environment, including competitors and competitive products and services. Having this information in hand, a company is in a better position to know the industry rivalry and predict their next move….
The topic of competitive advantage is one of the most frequently discussed topics in business theory and practice. One of the many models that have caught significant attention is Ohmae’s 3Cs Model. The model took its name from its pioneer, Kenichi Ohmae; a Japanese strategy guru. The model examines three key factors necessary for success;…
Thinking of this incredibly antagonistic business environment, a ‘distinctive’ capability seems quite out of reach, since it is highly probable that it has already been implemented by a competitor. This is just where Kay’s Distinctive Capabilities Framework can be used to address this issue. As its name implies, the framework was developed by John Kay,…